Bahrain Islamic Bank goes live with EXUS Collection & Recovery platform
- 05.06.2015 01:00 am
EXUS, the leading financial software vendor, has successfully delivered to Bahrain Islamic Bank, an upgrade of its Collection & Recovery platform, with the aim to fulfil the bank’s need to adapt its operating model regarding NPLs in the context of a rapidly changing environment.
The turnkey system helped Bahrain Islamic Bank increase its efficiency in both early and late-stage collections by introducing risk segmentation & collections automation, supported bank’s executives into their strategic decision making, while on the same time ensured compliance with Islamic banking practices and the local banking environment, rules and regulations.
The EFS Collection & Recovery platform addresses the full Collection & Recovery cycle of NPLs, covering both retail and corporate customer portfolios, including legal operations from early to late stages and providing a single point of reference for managing the entire bank’s NPL portfolio.
Deployed in record time, EFS Collection & Recovery has already started assisting Bahrain Islamic Bank to substantially improve its NPL unit quantitative and qualitative performance indicators and provide greater visibility and insights of its portfolio performance to senior management.
”Mohammed Hassan”, Deputy CEO of Bahrain Islamic Bank commented: “Our decision to buy the EXUS Collections platform re-enforced our desire to buy the best solutions that will keep our bank at the forefront of customer service and risk management, we are very satisfied with that decision now that the system is fully operational”.
Michael Melachrinidis, CEO, EXUS added: “We take great pride in having been chosen by Bahrain Islamic Bank to assist them in addressing their Credit and Collection challenges. This is an additional indication that our product is one-of-a-kind, providing a holistic solution to the challenges organisations face today when it comes to Collection and Recoveries. I wish to congratulate our team for their quick responsiveness to the challenges set by our customers”.
The software deployment is based on EXUS’ Rapid Deploy® Methodology, which allows for a fully functional system to be set up in a very short time, enabling the bank to quickly start managing debt and collect payments on outstanding debts.
EXUS has successfully delivered the new NPL management system to Bahrain Islamic Bank.