Arkanext Proactive Collections

Saving money for a rainy day isn’t easy for the average household. A PSCU survey found that 60% of Americans struggle financially and a full third live paycheck-to-paycheck.

Can it get any worse? Potentially.

Bankrate discovered that 56% of U.S. households cannot cover a $1,000 unexpected bill. That’s when families get in over their heads and show signs of loan delinquency. Can you tell if your members/or customers are in a tight financial spot? Can you anticipate it? CRMNEXT makes it possible.

With CRMNEXT, we help you identify those who are struggling on one, detailed 360 screen.

You can help with proactive collections based on specific triggers!

Being proactive prevents charge-offs and increases member/customer satisfaction. Instead of ruining a person’s credit and banning them from interacting with you, you’re helping them stay afloat. You’re also avoiding the cost of unloading a vehicle or charging off an unsecured debt.

If you can help a person or family become more financially stable, their loyalty to your institution grows, which boosts your bottom line.

Arkatechture data is filtered and aggregated by CRMNEXT

See members who may be inching toward default. That includes their total collection amount, total recovery, and pending amount.

Without going from one system to another, you’ll have customizable, dynamic data that you can view and update on the fly. That includes different loan types and the current record overview.

See the current status of a member or customer. As they move through the collection process, the values change based on their financial distress.

Actions Speak Volumes

Let’s take a look at Tom Johnson, a 30-something male. On this one screen, we can see he’s struggling, including his savings, checking, credit cards, and whether or not he is using a payday lender. Yes, this used to take hours and multiple screens. Now, you can do it in seconds. What you do with that info can have a huge impact on Tom’s life.

The Insight Card shows how we can help. Every insight is customized by the individual and a rundown of their financial health. With this info, you have everything you need to cross-sell what he needs. You’ll find talking points (how you can help with his financial life), how to create a lead, follow up, and find the member’s contact information.

Now imagine if you and your team could proactively talk to a member before they started looking for a payday lender or missed a payment. CRMNEXT makes it possible to help them out by extending due dates and cross-selling financially smart products and services.

Let’s give Tom some financial breathing room. By calling the member and clicking the Action Center (top right) you’re being proactive. On one screen, you can extend or change his loan due date. And since you know his credit cards are maxed out, you can talk to him about a debt consolidation personal loan as well.

In one click, you could be saving Tom’s financial life. Remember, nobody wants to admit their financial problems. With a pre-populated form, you get to change the payment date and waive any fees. Those changes instantly take effect in the core system and the loan information screen. Best of all, you’ll earn Tom’s unending loyalty.

CRMNEXT makes it possible

We’re here to help you help them. CRMNEXT Academy was built to help you save financial lives, keep your employees happy, and boost your bottom line. Let us show you how to bring it all together within your organization, including data, analytics, actionable reporting and automations. From the frontline to the c-suite, your team will have the power to get things done in real-time.