Nedbank, one of South Africa`s `big four` banks, has implemented the latest version of the PIC Solutions Collections System (PCS) in its vehicle asset finance (VAF) division, to enhance its collections environment.
PCS combines industry best practices, flexible user controlled strategy definition and an intuitive user-friendly collector interface with leading-edge system functionality.
This powerful collections solution enables Nedbank to successfully manage its collector resources, collections strategy and its outstanding debtor portfolio in a more efficient and economical manner.
The new version of PCS is fully compliant with the National Credit Act (NCA) requirements, including workflow functionality and support features such as multilingual letters and SMS.
Now built on .NET Framework 2.0/SQL Server 2005 platform, PCS is designed to adapt to the continually evolving challenges and new regulations impacting the credit industry.
Stuart Parvess, Head of VAF Collection and Recoveries at Nedbank, comments: "Implementation of this robust collections system was an integral part of our efforts to meet NCA requirements within the specific timeframe. This was achieved without major effort from the ICT team. We operate in a dynamic and challenging environment and are pleased that PCS is able to handle major changes, such as those required by the NCA, with minimal disruptions to our collections processes. The new features and platform of this latest release of PCS also enable us to leverage off the latest trends in the collections industry. We look forward to reaping the full benefits of this system."
Johan van Zyl, Head of ICT Services at PIC Solutions, adds: "Our close relationship and in-depth understanding of Nedbank`s business requirements ensured that the PCS implementation went very smoothly. We are committed to providing a solution that not only fulfils an enterprise-class collections function, but which also stays up-to-date with current trends and legislation. This new version is designed to adapt to the NCA and we plan to implement PCS in another four organisations by the end of the year."
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