Asset recovery is built into SAFIRE-IQ, the collections and recovery platform from Intelligent Banking Solutions. It covers what happens after routine collections stop working: repossession, foreclosure, REO and OREO, charge-off, and post charge-off recovery, in the same system that handled the account when it was thirty days late.
Because recovery and collections share one record, the account history stays intact as responsibility moves from collectors to special assets to recovery staff. Nothing is rekeyed and nothing is lost in the handoff.
Allows for the assignment of management accounts to collectors based on predefined parameters, ensuring a strategic approach to asset recovery.
SAFIRE-IQ tracks repossession and foreclosure through every stage, from first notice through disposition. Collateral status, assigned vendors, recovery agencies, legal referrals, and insurance activity are all recorded against the account. Workflow steps follow the institution's own policy and the system documents that each required step was completed.
Automates the tracking of principal, interest, late charges, and other configurable debt components, aiding in efficient asset management.
Asset Recovery is part of SAFIRE-IQ and inherits its integrations. SAFIRE-IQ works with any core banking system, with real-time integration to Fiserv, Jack Henry, and COCC. It also connects to letter fulfillment vendors, recovery agencies, insurance companies, and dialer platforms.
Automated workflows promote regulatory compliance by ensuring follow-through for all steps.
From setup and deployment to software training, upgrades and troubleshooting, our collection management software experts provide the prompt and direct support you need.
Lenders have the flexibility to add, remove, and modify fields and code translations in our software’s dynamic database, along with accessing other key functionalities. With Asset Recovery Manager, you can expand the software’s standard database fields to include other information required by your institution and streamline your asset recovery program
The software's scalability seamlessly adapts to the growth of your financial institution and the changing needs of its collection processes. Moreover, it safeguards your investment and guarantees the reliability of your recovery management system
Contact us for a discovery conversation to learn how Asset Recovery Manager can benefit your institution, meet your unique needs, and uphold the integrity of your asset recovery.
