Job Description

COLLECTION PROCESS FOR BANKING AND NBFC. Responsibilities: Customer Contact: Make outbound calls to customers with overdue payments. Clearly communicate the outstanding balance and payment due date. Explain the consequences of non-payment and the importance of timely settlements. Answer customer inquiries regarding their accounts and payment options. Maintain accurate records of all customer interactions. Payment Negotiation: Negotiate payment plans and settlements with customers. Explain various payment options and assist customers in choosing the most suitable method. Follow established guidelines for payment arrangements and discounts. Document all agreed-upon payment arrangements. Follow-Up and Escalation: Conduct follow-up calls to ensure customers adhere to agreed-upon payment plans. Escalate unresolved cases to the Collections Supervisor/Manager as needed. Provide timely updates on the status of collection efforts. Maintain a proper follow up system to ensure maximum collection. Compliance and Documentation: Adhere to all banking and NBFC regulations and company policies. Maintain confidentiality of customer financial information. Ensure accurate and complete documentation of all collection activities. Utilize CRM software to document all interactions.