OptiCollect

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FULL SERVICE COLLECTION OPTIMISATION

OptiCollect is an end-to-end collection optimisation suite for the South African corporate market.


It offers AC-ready authentication, best-cost routing engine and realtime analytics driven reporting.

MULTI-CHANNEL COLLECTIONS

OptiCollect provides you the ability to collect the same debtor’s contract through different collection channels interchangeably, whether in the early window, later window or even through non-bank channels.


Debit pull:
We take your customer contract data, create the right collection instruction for each invoice, submit to the bank you specify* on your behalf, and process the bank’s response. We process early debit orders (NAEDO, AEDO, AC**) and normal EFT debits.


Credit push:
If your customer paid at a retail outlet, bank branch, stop order, salary deduction or alternative payment push mechanisms, we collate the data into a single view.


*Participating banks: Absa Bank, First National Bank, Nedbank, Standard Bank

**Authenticated Collections Regulation Early Debit Orders, when available

AUTHENTICATION

Digital authentication at point of sale that is ISO compliant and AC*-ready.


Face-to-face authentication using our authentication app (or integrated into your own sales app), firing off a bank approved** mobile authentication or using a card and pin reader. Non-face-to-face authentication for call centre environments that integrates directly into your sales workflow.


Avoid loosing sales leads and reduce disputes by keeping an authenticated digital mandate with full audit trail that is instantly retrievable.


*Authenticated Collections Regulation

**Selected supplier of the Absa AC Authentication App

COLLECTION RULES ENGINE

Choose how your money should be collected based on transparent rules. No more expensive third party black-boxes. Micro-segment your collections book and create custom collection rules on each segment, spanning any of the supported collection channels, even across banks.


Collection instructions are created automatically, in the right format and submitted to your bank on your behalf.


Risk free changes to rules with an unique A/B Testing module that measures the statistical quality of each current rule, and identifies elements that can be optimised.

KEY PERFORMANCE INDICATORS

Get realtime insights into your collection process with custom action triggers.


See all your collections in one place (Debit pull-* and Credit push** collections) and track the action as it unfolds. Only focus on what needs your attention right now with custom target ranges. Track collection rates across your product range.


Keep an eye on metrics key to your business like churn rate, delinquency rate, invoice forecasting and concentration risk.


*Debit orders (NAEDO, AEDO, AC, QED, EFT)

**Payments at retail outlets, bank branches, stop orders, salary deductions or alternative payment push mechanisms

RECONCILIATION PLUG-IN

Achieve straight through processing with our atomic matching reference process that matches each collection attempt to a debtors invoice.


We handle the constraints of bank referencing to always be able to link a payment to an unique invoice. Connectors for most reconciliation systems, or request a custom feed for your in-house built system.

DATA SCIENCE KIT

Uncover your customers payment behaviour with advanced statistical analysis without the need for a team of PhD’s.


Drill-down to an individual collection attempt with drag-and-drop simplicity. Discover latent variables like affordability or create even better collection rules by uncovering new micro-segments using the clustering module.


Mine employer pay date from your historical data or predict the optimal collection strategy with the predictive analytics and machine learning module.

TARGET MARKET ANALYSIS

Knowing how your customers are likely to pay you, enables you to price each customer according to its unique predicted payment behaviour profile.


Discover the most profitable micro-segments, sales persons, authentication methods or geographical areas. Discover up-sell and cross-sell opportunities.

CUSTOMER EXPERIENCE ENGINE

The CX Engine enables you to interact with your customer throughout the collections lifecycle in the best way while creating a positive customer experience.


Run alongside your collection rules, you have the ability to trigger customised messages (SMS, email, in-app) - whether it is reminders, thank you notes or 2-way interactions like PartPay® or SnoozePay®, it is customised to your company’s unique communication style.


The A/B Testing module ensures that you only spend on the messages that moves the needle.

SECURITY

Build with bank-grade security from the ground up, your data is protected by the same state of the art security processes used by the banks themselves.


All our components have built-in active threat management processes to prevent, detect and rapidly respond to any potential threat. Regular penetration testing of all components to ensure your customer data is in safe hands.


Each client implementation is independently tested and audited for compliance to your internal IT Security policy.

SUPPORT AND BUSINESS CONTINUITY

Three layers of support to ensure someone is always available to assist you if you need help.


A dedicated Absa Corporate Service Center team* will attempt to resolve the matter or escalate the matter directly to the right team. Second line support from a dedicated Fintec account manager. Infrastructure and application support provided by local and global premium support partners.


*Service levels are client tier dependent

ISO 20022 COMPLIANCE

All our collection instructions are ISO 20022 compliant, ensuring you are AC-ready* before the SARB deadline. Our file converters enables us to submit to any participating bank in their legacy file format pre-AC, and in the compliant format when AC goes live later in 2016.


Our authentication simulates the AC regulation’s TT1, TT2 and TT3 authentication types which provides you with valuable information on what the impact of AC will be on your sales process. Make fact-based decisions on how to implement AC with this in-depth analysis.


*South African Reserve Bank’s Authenticated Collections Regulations