Debt Recovery

SDR, based on prevailing best practices, helps Financial Institution Officers to fully manage all the cycles of non-performing Credit Facility recovery, starting from the first defaulted instalment to the full cycle of a lawsuit and modes of execution and subsequent case closure. Pre-recoveries, Filing a Lawsuit, Executing a Court Decision, and Closing a Case are some of the stages in the lifetime of a non-performing Credit Facility management.

The SDR prime objectives are to provide quality (current, correct, complete and consistent) information, enabling the Officer to timely take all necessary and sufficient Actions and to monitor the required follow-ups and alerts.  This will maximise the recovered funds whilst minimising the recovery elapsed period and at the same time retaining profitable customers.

Business Functionality Highlights:

  • Lawsuits, Defendants, Court Decision, Modes of Execution, External Law Firm monitoring
  • Debtors, Guarantors, and Collateral Providers comprehensive management, including full follow-up history
  • Innovative concepts of Asset Warehouse and Collateral Subsystems
  • Gap and Provisions
  • Actions and Tasks Management, including Alerts, Reminders, Approvals and Workflows
  • Repayment Programs
  • Rich reporting functionality for Officers and Management
  • Performance Monitoring (e.g. of Officers, External Law Firms)
  • Letter Engine, i.e. automatic generation of letters with data imported from SDR
  • Comprehensive Customer Profile
  • Multi-Financial Institution and Multi-Currency
  • Structured output for the National Credit Bureau
  • Full support and extracts for the Supervisory Authorities
  • Full authorised access control and permissions
  • Full audit trail, etc.
  • Asset Warehouse and Collateral subsystem, Full Support for Regulatory and Supervisory Authorities, Recovery Effort and History at a glance, Customer Profile, Realisable Value, Lawsuit, Modes of Execution, Debtor and Collateral Providers, Alerts, Proposal Preparation, Extensive Management Reporting

Asset Warehouse and Collateral Subsystem

Asset Warehouse is a subsystem that supports and maintains all the items used by a Financial Institution as collateral.  These items can be tangible or intangible and as diverse as house, plot, valuable item, boat, funds, life insurance, goodwill, etc.  The information maintained includes details such as Asset identification, categorisation, expiration, financial data and owners.

The registered items in the Asset Warehouse can be pledged as Collateral for Credit Facilities provided by the Financial Institution.  An Asset is registered only once, however it may be pledged in more than one Collateral Item, conditional on relevant financial criteria, and vice versa, a Collateral Item may consist of many Assets.

The Asset Warehouse and Collateral Subsystem are integral to the timely and accurate performance of the Financial Institution in recovering the non-performing funds, as the Financial Information and Relationships that are maintained by the System give a complete picture of the realisation of the underlying assets.

Customer Profile

The Synectics Customer Profile is a report (printed or presented on screen with links) produced at the push of a button, providing summary information about the Customer of a Financial Institution.  It is very useful as it provides at a glance the current position of a Customer, Legal Entities or Physical Persons.

The Synectics Customer Profile consolidates information crucial especially during customer negotiations or for legal action.  It is a complete description of the Customer’s static data, the Customer’s Liabilities, Assets and Collateral with Realisable Value, Lawsuit Information and History of all follow-up actions in recovering the funds.

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Office Address:

18, Kyriakou Matsi
P.O. BOX 20020, CY-1600 
Nicosia, Cyprus

  • Phone:

    (+357) 22-780888
  • Fax:

    (+357) 22-780558
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