Loan recoveries and lease rental collections are critical to the sustainability of banks and financial institutions. In today’s busy and complex lifestyles, delays in payback by customers can lead to liquidity, profitability, compliance and relationship issues at the lenders end. Therefore, field recoveries by visiting client’s locations whether it is a factory, a business place, a farm or a home are becoming very attractive and appropriate.
Online real time transactions in the field can also address credibility and efficiency issues of collections happening outside bank premises. “Epic Branchless Banker is a time-tested solution now in use for efficient loan recoveries in the region,” said Epic Lanka Director/CEO Viraj Mudalige.
Evolving from Asia Pacific’s best banking solution Epic Branchless Banker can help financial institutions to recover their dues from clients in the field by issuing on-line receipts, printed statements, pass-book updates etc. This also eliminates various vulnerabilities faced by lending institutions in empowering their staff to engage in field collections as the amounts collected are immediately acknowledged. The handheld digital devices used by the field officers communicate directly with the back-end systems of the banks providing tangible evidence to the customers and making the field officers immediately liable for the collections eliminating room for any misappropriations. “The features we offer are amazing and quite user-friendly. The solution is foolproof and strictly adheres to regulatory guidelines, prevailing electronic transaction acts and highest international standards in electronic payments and security,” Mudalige explained.
“The initial investments are quite low and can be tailor-made to the needs and specific capabilities of individual financial institutions. Our ability to customise the solution with ongoing systems and procedures makes implementation fast and hassle-free. How Epic Branchless Banker transformed a state savings bank in Malaysia with 350 branches to an institution with over 4,000 online real time access points within months provides ample testimony to justify the reliability of the solution,” he added.
Epic Branchless Banker can offer almost all the traditional banking facilities in the field. In bringing mobility, the bank can use GPRS-enabled EDC POS terminals, mobile phones, PDAs, EDAs etc. Lease rental collections, loan recoveries, deposit mobilisation, account opening and various functionalities pertaining to microfinance are facilitated through Epic Branchless Banker. The solution comes with bio-metric verification capabilities making it state-of-the-art. With the in-house competencies developed in the complementary domains of secure electronic payments and information systems security Epic Lanka is well poised to innovate, lead and dominate mobile banking solutions in the region. Having implemented award winning banking solutions in local and international banks and financial institutions Epic Lanka is celebrating its 15th anniversary in May this year.