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Recovery

Formerly the Akcelerant Framework recovery solution

The Recovery module enables customers to charge-off, collect on and outsource accounts from the Lifecycle Management Suite. The recovery platform includes functionality for workflow, assignment, reporting and analysis and makes use of the system's “cases” to track and monitor charge off accounts.

 


Summary

The Most Flexible Recovery Platform

  • Partially or fully charge-off delinquent accounts while capturing General Ledger, interest and collectability status.
  • React quickly to market needs and changes with the ability for the business unit to directly configure workflows, screens, fields, actions and more, without IT or vendor intervention.
  • Seamlessly transition delinquent accounts into the recovery stage with a full 360-degree view of the account using Temenos' unique person-centric platform, including pre-charge-off account information.

Enhance Recovery Account Management

  • Assign, manage and prioritize charged-off accounts in the system's flexible Queue Builder using calculated fields such as: Next Due Date, Amount Due, Total Amount Collected and Remaining Payments.
  • Collect on recovery accounts with functionality to drive both traditional and non-traditional repayment plans, settlement plans and payoff quotes.

Streamline Processes

  • Simplify business user processes with automation, using rules and workflow to generate letters, decision approvals and more.
  • Align the system's processes with your unique organizational needs, either automating workflow steps and assignment types with pre-defined criteria and pick-and-choose batch screens, or manually processing accounts on an individual basis.

Capitalize on Robust Reporting and Analysis

  • Customize and export premium reports with direct integration to Microsoft® SQL Reporting Services.
  • Track Judgment and Court events, such as: garnishments, property seizures and judgment satisfaction in the system
  • Generate reports detailing all of the accounts which the management team has approved for charge-off to reference during board meetings and executive-level discussions.
  • Immediately access standard reports for 1099C and Metro II.

Centralize and Automate Communications

  • Keep the communication flow open and traceable, using the Recovery module to easily send additional reminders by letter and email to both account holders and internal staff.
  • Automatically generate debtor settlement offers, payment and coupon statement letters, repayment plan agreements and stipulation letters.

Integrate to Current Systems for Smooth Data Management

  • Manage and settle recovery accounts with the ability to integrate the Recovery module into your accounting software in order to easily process payments and apply fees.
  • Easily update AFLL entries in your financial institution's record keeping software (i.e. PeopleSoft) with the configurable General Ledger account export file.

Optimize Transaction Processing

  • Track granular account balances such as principal, interest, fees, both reimbursable and non-reimbursable expenses at time of charge-off and post-charge-off.
  • Apply payments manually or via batch payment processing to update balances daily.
  • Configure a Payment Posting Hierarchy to strategize allocation of payments against the recovery account and/or repayment plan. For example, apply against the principal, interest and fees or spread a payment across all of the component balances equally.

Connectors

Connector

Description

Type

Resources

Accurint

Lexis Nexis – This connector allows users to initiate a real-time skip trace against a particular account and a history of all past skip trace searches are maintained in the system.

Skip Tracing

 
 

Allied CPI 

Allied Solutions – This connector provides integration to Allied Solutions’ Collateral Protection Insurance (CPI), a solution for managing risk and minimizing administrative hassle associated with tracking insurance on collateralized loans. 

Insurance 

Datasheet 

ApplicationXtender 

MetaSource – This connector allows documents attached to a loan application to be archived and stored with ApplicationXtender. 

Document Management 

 

Banko 

Lexis Nexis – This connector supplies an automated process to send and receive comprehensive bankruptcy data to help minimize risk and maximize collection and recovery efforts. 

Bankruptcy 

Datasheet 

Certegy 

FIS – This connector enables institutions to import additional credit card account information directly into the system. 

Third-Party Credit Cards 

 

Collection
Advantage 

Experian – This connector is an all-in-one tool offering easy access to credit-based scoring, consumer contact data and analytical services. 

Segmentation/Scoring 

 

CPI State National and CUNA Mutual Group

State National Companies/CUNA Mutual Group – This connector accesses real-time data from State National’s Insurtrak providing seamless integration to CPI data directly within the Framework allowing an account holder’s insurance status, claim submissions and insurance submission within a single platform.

Insurance

Datasheet

CPS 

Fiserv – This connector allows institutions to receive additional credit card account information directly through the system. 

Third-Party Credit Cards 

 

Credit Reporting 

Luxor Technologies, Inc. – This connector retrieves and stores credit report information from Experian, Equifax and/or TransUnion through a third-party credit reporting service. 

Credit Reporting 

 

Credit Solutions 

CU Revest – The Credit Solutions connector by CU Revest allows financial institutions to take advantage of collection services to manage delinquent accounts during pre and post charge off stages. Reduce charge off, lower delinquency and save on internal overhead by using the Credit Solutions connector. 

Outsourced Collections 

Datasheet 

Credit Union Student Choice 

Credit Union Student Choice – This connector allows financial institutions to import student loan data directly into our Collection module, allowing for easy risk management within a single system. 

Third-Party Loan Data 

Datasheet 

CU Recovery

CU Recovery – This connector is a fully integrated and streamlined option for placing and managing charge-off accounts. 

Outsourced
Collections 

Datasheet 

Equifax 

Equifax – This connector gives institutions access to Equifax credit bureau reports directly through the system. 

Credit Reporting 

 

Evans, Simpson & Associates 

Evans, Simpson and Associates, Inc. – This connector provides Temenos customers with real-time access to Evans, Simpson and Associates’ (ESA) suite of insurance products. 

Insurance 

Datasheet 

Experian 

Experian – This connector gives institutions access to Experian credit bureau reports directly through the system. 

Credit Reporting 

 Datasheet

FDR

First Data – This connector provides institutions with the ability to receive additional credit card account information directly through the system. 

Third-Party Credit Cards 

 

FICS 

FICS – This connector offers financial institutions access to additional mortgage information not offered directly from their core processor. 

Mortgages

 

Genesys 

Genesys – This connector provides a direct integration to Genesys’ on-demand automated voice messaging solution. 

Dialer 

Datasheet

 

LSC 

CU Recovery – This connector provides collection staffing solutions on a part-time, full-time, temporary or permanent basis. 

Outsourced Collections 

Datasheet 

NCCI 

NCCI – This connector provides the ability to submit requests including real-time field calls and property inspections to NCCI in the system. 

Borrower Outreach 

Datasheet

PSCU 

PSCU – This connector enables institutions to access additional credit card information for accounts. Users can choose from PSCU’s standard option or their Data eXchange, which offers real-time information. 

Third-Party Credit Cards 

Datasheet 

SWBC Insurance 

SWBC – This connector enables institutions to access policy details, create new claims, and track claims for SWBC’s Collateral Protection Insurance (CPI). 

Insurance 

Datasheet 

SWBC Loss Mitigation 

SWBC – This connector delivers a unique suite of insurance and collection services, including service requests for asset recovery, repossession, remarketing, and legal, as well as submission and tracking of collateral protection claims. 

Loss Mitigation 

Datasheet 

TMG 

The Members Group – This connector allows institutions to receive additional credit card account information directly through the system. 

Third-Party Credit Cards 

 

TransUnion 

TransUnion – This connector provides users with a secure transfer method for retrieving credit bureau reports through the account servicing solution. 

Credit Reporting 

 

Vantiv 

Vantiv – This connector enables institutions to receive additional credit card account information directly through the system. 

Third-Party Credit Cards 

 

XDI 

Xpress Data Inc – This connector allows letters to be exported directly to Xpress Data to be produced and delivered. 

Letters 

Datasheet

Interfaces

The Recovery module currently interfaces to the companies listed below. In addition, Temenos can work with other companies upon request. Please contact us for additional information.

 

Finastra

FIS

Fiserv

Jack Henry

  • Ultradata
  • IBS
  • Miser
  • Advantage
  • CBS
  • DataSafe
  • DNA
  • Premier
  • Spectrum
  • XP2
  • Symitar Epysis