Affiniti improves loan and lease recoveries

Avonet Technologies Director/ COO Thilina Kumarapathirana	Avonet Technologies Director/ CTO Sachith Fernandopulle

Avonet Technologies, the local CRM company with a state-of-the-art delinquency management solution, has empowered many local banks and non-bank financial institutions in improving their loan and leasing recoveries. The Affiniti brand delinquency management solution (DMS) locally developed by Avonet is revolutionising the way banks and financial institutions manage their receivables, said Avonet Director/COO Thilina Kumarapathirana. 

“Our solution enables banks to use human resources more effectively by automating routine manual work. The results are dramatic as many banks now see improved and timely recoveries,” said Kumarapathirana.

“It is quite important to maintain healthy and high quality loan portfolios as financial institutions are progressively expanding activities reaching those who are in need of funding for various economic activities. Many technology savvy banks and non-bank financial institutions embraced our cutting-edge technology solution to improve their loan recovery performance and also to maintain high standards in service quality. The Affiniti DMS is a timely investment they made in sharing the benefits of modern technology with all stakeholders,” Kumarapathirana further said.

With Affiniti DMS, loan and leasing customers now receive advance notifications in their preferred language by way of text messages, voice messages, emails or letters so that they can get ready with loan settlements in advance. Promises to pay are also monitored on a daily basis with the core banking system and alerts are sent to recovery officers promptly. Interestingly, our DMS can also cover legal actions and legal diarising has become a very appealing feature to banks. The assigned tasks are monitored against the service levels and escalated notifications are generated to keep higher authorities informed for pro-active measures. All these functions are fully automated and this has saved a considerable time of recovery staff members,” said Avonet Director/CTO Sachith Fernandopulle. 

Speaking to the newspaper, Fernandopulle also had this to say: “We keep on improving the features and functionalities of both our CRM and DMS solutions. The team at Avonet is quite passionate about using cutting-edge technologies and we monitor latest market and technology trends in our quest of offering world class customer relationship and delinquency management solutions to local corporate firms.” 

“Our technology road map consists of a number of exciting and appealing features that will enable banks and financial institutions to harness benefits of modern technologies in the areas of machine learning, big data, analytics and deep learning. Several ongoing collaborative research initiatives of Avonet with leading universities will soon make this a reality,” he added. 

Avonet Technologies has successfully implemented their Affiniti CRM and DMS solutions in several major banks and non-bank financial institutions in Sri Lanka which include Sampath Bank PLC, LB Finance PLC, Pan Asia Bank PLC, Commercial Credit and Finance PLC, HNB Finance PLC, CDB Finance PLC and Bimputh Finance PLC. 

The solutions are available in modules depending on priorities of client organisations and Avonet has a proven track record in integrating their solutions with existing systems with any customisations required.