Talgentra, the customer revenue management (CRevM) specialists, has announced the latest addition to its growing portfolio of financial clients. South Africa’s largest credit bank, African Bank, has selected Tallyman, Talgentra’s flagship software solution, to support its enterprise-wide collections operation in South Africa. The Midrand based organisation, which manages over one point one (NOTE: ABL ONLY, 1.6 IN ABIL) million loan accounts, will roll out Tallyman across its business during the next few months.
African Bank is implementing Tallyman in order to streamline its collections processes and improve its efficiency at collecting outstanding debt. Tallyman is a highly flexible solution for African Bank and will centralise the collections process, allowing the bank’s 200 branches to access the collections database from a browser-based front end. The system will give the bank a complete view of its customers’ credit status and will enhance collection management and debt collection strategies significantly reducing the ratio of under-performing loans. Tallyman will also be rolled out to the bank’s subsidiary, Credit Indemnity, and its in-house debt collection agency - David Lewis and Associates, in due course.
Through the use of Tallyman’s Java-based and database-independent technology, which will run on the bank’s MS SQL server platform, African Bank will significantly improve its ability to service the credit requirements of its growing number of micro-finance customers, who have traditionally been denied credit because of perceived high-risk profile of this market.
Customer profiling and segmentation is one of the major benefits of the Tallyman system. It will allow African Bank to incorporate a high number of variables into the system, enabling more effective segmentation, making it easier for the bank’s collectors to focus their debt recovery efforts.
African Bank selected Talgentra, due to its breadth of experience in customer revenue management, as well as the high degree of user control and flexibility of the Tallyman solution. The system replaces African Bank’s previous collections method, which relied on a number of basic, disparate systems to keep track of customers’ credit status – this was an inconsistent process that was difficult to manage and resulted in duplication of effort.
Angus Herselman, managing executive of the collections unit of African Bank, commented: “Customer relationship management (CRM) is a vital issue for African Bank and we are working at improving our credit offering and aligning it with our customers’ requirements. An important aspect of CRM is the collections process – how it is managed and handled has a direct impact on customer satisfaction. The Tallyman solution is at the leading edge of the industry and with it, we intend to take African Bank to the forefront of international best practice in collections. African Bank’s decision to implement this system and establish a robust customer revenue management policy is driven by the bank’s philosophy of responsible lending.”
Dr David Harris, managing director of Talgentra (EMEA), echoed Herselman’s comments: “African Bank’s commitment to customer revenue management is representative of the level of responsibility that lenders should be exhibiting in today’s society where consumer credit has reached record levels. Hopefully organisations like African Bank will set the standard for others to follow. Also, the business benefits of good customer revenue management are undeniable – companies can really drive revenue and make a visible impact on their bottom line. A solid and fail-safe customer revenue management strategy is becoming paramount to every business that is committed to best practice in the credit industry and maximising revenue from their customer base.”
Talgentra is a global IT company, which specialises in solutions for managing customer revenue. Its business is based around a range of professional services and consulting skills associated with its two software suites, Tallyman, a credit management and collections system and Gentrack, a customer information and billing system.
Tallyman, Talgentra's Customer Revenue Management suite, operates within financial services, utilities, telecommunications and government agencies around the world. Tallyman helps customers maximise their revenue streams, minimise their costs, and achieve excellent customer service and retention. Tallyman customers typically report payback in less than twelve months due to dramatically improved customer collections.
Talgentra currently employs 180 people in its offices in Bristol (UK), Auckland (NZ), Baltimore (USA), Belfast (UK), Hong Kong, Kuala Lumpur, Melbourne and Singapore. The company is part of Sanderson, a leading IT group, which employs around 1000 people globally.
Press contacts (Talgentra):
Lucy King/Kam Perera
Tel: +44 (0)20 7292 8680
Tel: +44 (0) 1454 892000
AFRICAN BANK Notes
African Bank Limited (African Bank) is a wholly owned subsidiary of ABIL (African Bank Investments Limited) and is a registered bank governed by the Banks Act, 1990. It adheres to the code of the Banking Council of South Africa, and is a member of and abides by the rules and regulations of the Micro Finance Regulatory Council (MFRC). African Bank provides unsecured term finance to the formally employed mass market that has been under-serviced in their credit needs. The bank operates through its own branded distribution network of branches, sales offices mine outlets throughout South Africa.
African Bank is a cash-free operation with disbursement/collections taking place electronically. Loan amounts, ranging from R 1000 to R20 000 with terms of 12 to 36 months, are transferred to the client's bank account and are paid through one of the following mechanisms:
- Payroll deduction
- Retail banking
African Bank currently employs about 1600 permanent staff throughout South Africa and has a commission-based mobile sales force of approximately 2 000 people.
Press contacts (African Bank):
General Manager: Communications
Executive: Human Resources and Corpoate Affairs
This press release was distributed by ResponseSource Press Release Wire on behalf of Buffalo Communications in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.