As a loan provider client was facing multiple business challenges. Issues in collection operations, like lack of proper follow-ups by collections agents, resulting in higher losses. Disbursement issues, like not being able to efficiently monitor cash reserves at different branches. Fraudulent activities by dealers resulting in high risk financing.
To overcome these challenges, client intended to create an automated fraud management solution. We executed a POC with 3 scenarios on current business challenges. It took only 5 days. In the 1st scenario we identified overdue customers that haven’t been visited by any collector in last 1 month. 2nd scenario was to catch every unusual spike in sales through dealers. For example, if sales through a dealer suddenly increase by X % or more – this will be captured in our system as high risk. 3rd scenario was implemented to monitor performance across multiple branches and ensuring each branch has sufficient funds on a daily basis. For that, if cash disburse on a given day in any branch is greater than x % of initial balance, it will be triggered as high risk in the system. All 3 scenarios were successfully executed.
Collectors, dealers and branches were categorized into low, medium and high risk. For the medium and high risk categories, cases were created in the Case Management module with an automated email notification to defined users for performing investigations. And finally, the reporting dashboard was built to visually showcase the findings. It gets updated regularly and client can monitor to define strategic actions proactively. It’s very easy with a drill down functionality to the level of a particular collector, dealer, branch or customer. If you want to know more – do visit Effiya FraudProtekt Solution