SYSTEM FOR DEBT COLLECTION WORKFLOW ADMINISTRATION

• US 20130226756A1
• Filed: 02/22/2013
• Published: 08/29/2013
• Est. Priority Date: 02/23/2012
• Status: Abandoned Application

• Current Assignee: TATA Consultancy Services Limited (Tata Sons Pvt Ltd.)
• Original Assignee: TATA Consultancy Services Limited (Tata Sons Pvt Ltd.)
• Inventors: Singh, Rajesh Ramnath, Mani, Jayasekar
• Application Number:
  US13/774,098
• Publication Number:
  US 20130226756A1
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 10/00 Administration; Management
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

A method and a system for debt collection workflow administration for a financial institution are disclosed. The method comprises defining a debt collection workflow for a set of stakeholders each having one or more hierarchy levels. The debt collection workflow defines a plurality of functions to be performed at the one or more hierarchy levels of each stakeholder of the set of stakeholders. Further, the debt collection workflow is based in part on regulatory requirements. The method further comprises administering the one or more hierarchy levels. The administering comprises generating statistic cards comprising debtors'"'"' information. The administering further comprises encrypting the statistic cards and providing selective access of the statistic cards to the one or more hierarchy levels of each stakeholder of the set of stakeholders based upon access privileges assigned to the one or more hierarchy levels.

Claims

1. A computer implemented method for debt collection workflow administration for a financial institution, the method comprising:

defining a debt collection workflow for a set of stakeholders each having one or more hierarchy levels, wherein the debt collection workflow defines a plurality of functions to be performed at the one or more hierarchy levels of each stakeholder of the set of stakeholders, and wherein the debt collection workflow is based in part on governmental regulatory requirements; and

administering the one or more hierarchy levels, wherein the administering comprises generating statistic cards comprising debtors'"'"' information, wherein the administering further comprises

encrypting the statistic cards; and

providing selective access of the statistic cards to the one or more hierarchy levels of each stakeholder of the set of stakeholders based upon access privileges assigned to the one or more hierarchy levels.

2. The method of claim 1, wherein the set of stakeholders comprises at least one of the financial institution, a telephone calling agency, a collection vendor, and an Information Technology (IT) service provider.

3. The method of claim 1, wherein the administering further comprises authenticating the set of stakeholders for providing access to the debt collection workflow and the statistic cards, wherein the authentication is at least one of an Internet Protocol (IP) level authentication, network level authentication, authentication through registered gateways, and user login based authentication.

4. The method of claim 1, wherein the administering further comprises:

receiving a debt collection report and a conformance parameter, wherein the debt collection report is indicative of the debt collected and the conformance parameter is indicative of conformance of the stakeholders with the debt collection workflow;

generating performance analytical reports for the one or more hierarchy levels based upon at least one of the debt collection report and the conformance parameter, wherein the performance analytical reports are indicative of performance at the one or more hierarchy levels; and

selectively displaying the performance analytical reports to the set of stakeholders based upon access privileges assigned to the one or more hierarchy levels.

5. The method of claim 4, wherein the administering further comprises

collating the performance analytical reports for the one or more hierarchy levels;

and

consolidating the collated performance analytical reports to provide a holistic view of performance of the stakeholders.

6. The method of claim 4, further comprising calculating incentive at the one or more hierarchy levels based upon at least one of performance analytical reports, predefined targets, and weightages assigned to the plurality of functions to be performed at the one or more hierarchy levels.

7. The method of claim 1, wherein the administering further comprises

receiving login details from a field collection device associated with a field collection agent;

authenticating the field collection device for debt collection based upon the login details; and

tracking the field collection agent and the debt collected using the field collection device.

8. The method of claim 1, further comprising calculating an attrition rate at one or more hierarchy levels, wherein the attrition rate is selectively displayed to the set of stakeholders based upon access privileges assigned to one or more hierarchy levels.

9. The method of claim 1, wherein the debt collection workflow further comprises

generating reminders at predefined intervals for the functions to be performed by at one or more hierarchy levels;

and

generating log of the functions performed at the one or more hierarchy levels.

10. The method of claim 1, wherein the debt collection workflow further defines eligibility criteria at the one or more hierarchy levels, and wherein the set of stakeholders is authenticated based on the eligibility criteria.

11. The method of claim 1, wherein the debt collection workflow comprises scrubbing phone numbers used by telephone calling agencies for calling debtors, wherein the scrubbing comprises prefixing a Subscriber Trunk Dialing (STD) code in a phone number of a debtor based on a geographical location of the debtor.

12. A Debt Collection Administration System (DCAS) for a financial institution, the DCAS comprising:

a processor; and

a memory coupled to the processor, wherein the memory comprises;

a definition module for defining a debt collection workflow for a set of stakeholders each having one or more hierarchy levels, wherein the debt collection workflow defines a plurality of functions to be performed at the one or more hierarchy levels of each stakeholder of the set of stakeholders, and wherein the debt collection workflow is based in part on regulatory requirements; and

an administration module for administering the one or more hierarchy levels, wherein the administration module is further configured to generate statistic cards comprising debtors'"'"' information, wherein the administration module is further configured to

encrypt the statistic cards; and

provide selective access of the statistic cards to the one or more hierarchy levels of each stakeholder of the set of stakeholders based upon access privileges assigned to the one or more hierarchy levels.

13. The DCAS of claim 12, wherein the regulatory requirements include governmental regulatory requirements.

14. The DCAS of claim 12, wherein the statistic cards are at least one of printed and displayed on an I/O interface based upon access privileges assigned to the one or more hierarchy levels.

15. The DCAS of claim 12, further comprising a stakeholder database for storing details of each stakeholder of the set of stakeholders, wherein the details comprise at least one of Service Level Agreement (SLA) among the set of stakeholders, address, mail ids, telephone numbers of employees of each stakeholder of the set of stakeholders, and service tax numbers of the set of stakeholders.

16. The DCAS of claim 12, wherein the administration module is further configured to:

receive a debt collection report and a conformance parameter, wherein the debt collection report is indicative of the debt collected and the conformance parameter is indicative of conformance of the stakeholders with the debt collection workflow;

generate performance analytical reports for the one or more hierarchy levels based upon at least one of the debt collection report and the conformance parameter, wherein the performance analytical reports are indicative of performance at the one or more hierarchy levels, and

selectively display the performance analytical reports to the set of stakeholders based upon access privileges assigned to the one or more hierarchy levels.

17. The DCAS of claim 12, wherein the administration module is further configured to:

receive login details from a field collection device associated with a field collection agent;

authenticate the field collection device for debt collection based upon the login details;

track the field collection device; and

receive debt collection details from the field collection device, wherein the debt collection details is indicative of amount collected from the debtors.

18. The DCAS of claim 17, further comprising a computational module configured to:

calculate incentive at the one or more hierarchy levels based upon at least one of performance analytical reports, predefined targets, and weightages assigned to the plurality of functions to be performed at the one or more hierarchy levels; and

calculate an attrition rate at one or more hierarchy levels, wherein the attrition rate is selectively displayed to the set of stakeholders based upon access privileges assigned to one or more hierarchy levels.

19. A computer-readable medium having embodied thereon a computer program for executing a method for debt collection workflow administration for a financial institution, the method comprising:

defining a debt collection workflow for a set of stakeholders each having one or more hierarchy levels, wherein the debt collection workflow defines a plurality of functions to be performed at the one or more hierarchy levels of each stakeholder of the set of stakeholders, and wherein the debt collection workflow is based in part on governmental regulatory requirements; and

administering the one or more hierarchy levels, wherein the administering comprises generating statistic cards comprising debtors'"'"' information, wherein the administering further comprises

encrypting the statistic cards; and

providing selective access of the statistic cards to the one or more hierarchy levels of each stakeholder of the set of stakeholders based upon access privileges assigned to the one or more hierarchy levels.