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Asset Repossession Module for Banks and NBFCs launched by Mobicule

Asset Repossession Module for Banks and NBFCs

In Mumbai, an industry first for banks and NBFCs, Mobicule, a specialist in debt collection, has announced the release of its mCollect Repossession module. As a component of its debt collection and recovery product, the ground-breaking Asset Repossession Solution is a comprehension solution that maps all the intricate steps involved in the repossession of an asset.

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Mobicule is a leader in providing solutions that use mobile technologies to digitise processes and increase productivity. As a result, the introduction of the mCollect Repossession Module is seen as a logical progression of the company’s debt collection platform.

Mobicule launches Asset Repossession Module: Key Points

  • The repossession module will cover and fill in any holes in the entire process, including identification, allocation, digitization and automation of the repo kit, evidencing, yard submission, yard acknowledgment with evidencing, auction, and release process.
  • Additionally, this will assist lenders in adhering to strict and dynamic regulatory compliance requirements and in-system tracking.
  • The extensively used and current paper-based repossession processes will be digitised and integrated as part of the mCollect recovery suite, which will provide real-time visibility and process compliance.
  • This highly adjustable but user-friendly product’s main objective is to turn potentially painful encounters into methodical, traceable compassionate remedies.
  • One of the first companies to enter the market for debt collection software, Mobicule has worked with well-known and significant lenders.
  • With appropriate fraud handling built into the platform, mCollect has demonstrated its capacity to handle cash collection and receipting in rural areas.
  • The goal of mCollect is to serve as a comprehensive one-stop platform for debt recovery, collection, and monitoring.
  • The integration of banks’ and NBFC’s digital, call centre, and field collection methods has been made possible by Mobicule’s extensive domain expertise, in-person experience, and technologically cutting-edge solution. mCollect’s machine learning models with industry training help banks and NBFCs categorise consumers and forecast their payment behaviour.
  • These actions have decreased recovery expenses dramatically while increasing recovery effectiveness.

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About mCollect Platform

The mCollect platform uses machine learning and artificial intelligence technologies to reduce delinquency, which still exists in the banking and NBFC industries. Due to its many features, including allocation, digital collection, disposition, feedback management, cash collection, and deposition, mCollect will be used when consumers are discovered to be in default. If this option is not available, the bank or NBFC can use repossession as a means of collecting unpaid debt, avoiding substantial losses, and managing delinquency more effectively.

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