LBS Financial Credit Union, headquartered in Long Beach, California since 1935 with $1.3 billion in assets and 124,000 members, was seeking to improve their existing collection management system. Searching for a real-time, user-friendly system, with flexible queuing features and robust reporting capabilities, they explored a number of collection management systems before choosing Temenos Infinity Collection. Al Parent, Vice President of Collections, cited that the existing Temenos Infinity interface with their core provider made a specifically positive impact during the decision making process.
Since implementation of the Collection module, LBS has experienced an increase in the number of effective calls per day, with a corresponding increase in the number of members reached. Temenos Infinity has contributed not only to a delinquency reduction, but also to an improved expense efficiency in their asset recovery effort, by enabling a reduction in staff scheduling and an elimination of overtime. The ease of queue set-up, and the ability to download reports to Microsoft Excel for “slicing and dicing”, are features that enable management to focus the efforts of their staff where it is most beneficial.
The ease-of-use has made the collection staff very comfortable with the software and enables training of new users in less than one half day. “Temenos Infinity is a more intuitive system, which has enabled us to become more efficient,” offered Parent. “Additionally, we have utilized the capabilities of the software to assist in our marketing efforts.”
”LBS Financial was looking for a system that would enable us to reduce delinquency without increasing staffing. Temenos Infinity has really put us light years ahead of where we were.”Al Parent, Vice President Collections
The choice of Temenos Infinity has provided significant improvement in both productivity and efficiency. LBS looks forward to continued success, and would definitely recommend Temenos Infinity to others looking to improve their asset recovery process. “Based upon our experience to date, and the fact that we have become such fans of Temenos Infinity… We look forward to future product offerings from Temenos,” Parent comments.