Credit unions must track loan repayments
and identify delinquent loans quickly and reliably in order
to quickly start the debt collection process. Millions of
dollars in loans and hundreds or thousands of repayments a
week are not easy to manage without a computerized system.
For the credit unions using the ICBS system,
a system has been developed to quickly identify and track
delinquent loans and overdrawn accounts. SMS messages are
automatically sent from the system to account owners to notify
them of the delinquency.
The following requirements were used in the
design and development of the system:
- Seamless capture of delinquent loans from the ICBS Loans
- Scalable and reliable database storage
- Intuitive user interface
- Speed optimization for slower segments of the LAN
- Delinquency history kept on file
- Delinquent loan tracking
- Overdrawn accounts
- Powerful search mechanisms to enable operators on the
phone to quickly and easily identify an account based on
Our software exceeds the requirements mentioned
By using predefined PCOMB reports, the ICBS
data is easily and quickly transferred into the collection
Smart database storage and indexing techniques
allow us to find a deliquent loan or an account in arreras
in a few seconds, even over a slow speed link.
This feature, combined with the intuitive
user interface allows the operator to quickly find the loan
they are talking about with the customer on the phone.
Powerful mail merge feature combined with
the easy and known interface of Word for Windows enables bulk
printing of notification and demand letters without any human
delay or error.
Delinquency history and well as all correspondence
are kept on file for future reference
A powerful database engine stores the data
and enables the use of leading edge query techniques to increase
performance over slow links.
How it works
A PCOMB report from the loans subsystem is
daily imported into the system. A powerful validation and
file recognition process enables the system to only import
As part of the import process delinquent loans
are analysed, outstanding payments are consolidated and the
loan is assigned to one of the predefined delinquency cycles.
The loans are presented in an intuitive way on the main screen
of the application. Filtering by delinquency cycles, dates
and members can be done by just a few mouse clicks without
leaving the main screen.
As a loan is selected, the entire history
and correspondence for that loan are displayed enabling the
operator on the phone to discuss various options with the
member on the phone.
Each loan can be quickly examined and a decision
can be taken and recorded into the system. Usually the decision
involves sending the member a certain form of demand or notification
Once all loans have been examined, by clicking
a few buttons, a Word for Windows mail merge feature can be
invoked to produce all the required letters based on user-defined
layouts. The system is so easy to use and so intuitive, saving
on expensive training and unnecessary consulting fees.
Backup jobs are scheduled at the back-end,
for data security and disaster recovery.
The system has been implemented at the ELCOM
credit union on NSW Central Coast and has been in use for
a number of years.
We don't write our software,
we craft it!