BMW Financial Services utilizes Collection System.

Customer Profile

BMW Financial Services is a financial institution (Bank) specialized in providing financial products and services for customers in the BMW group.Financing schemes are offered that consistently and qualitatively meet the needs of BMW’s customers. Exactly what you expect from a BMW model! BMW Financial Services also offers full insurance services, long term leases andfunded maintenance schemes for integrated customer service. BMW Financial Services is the step that will bring you closer to the BMW that you like!

Business needs

BMW Financial Services must in providing funding schemes to its customers have a modern and reliable system for monitoring and informing customers about their outstanding debts. These processes are known by Collection Systems, require the design and implementation of all necessary case management systems, monitoring their handling by agents (internal and external), logging all customer communications, providing written information to customers by letters, etc.They also require the continuous display of the productivity of each party involved, and mainly the collection and operational utilization of all information from a screen. Alongside, the automated interconnection and display of primary information kept in the main banking system is considered a prerequisite. Due to the expected volume of calls and the desire for the maximum possible automation, it was requested to utilize the already existing (IP technology) PBX, through the Collection System, in a system with full call automation and communication data logging. The ultimate goal of BMW Financial Services was the development and operation of a modern, flexible and adaptable Collection system which will utilize existing infrastructure, will smoothly cooperate with its main banking system and serve needs with maximum speed and reliability.

The Solution

As the most appropriate solution it was selected to install and use the integrated Collection System. The above information system includes the following subsystems: Collection Core Package Solution, CTI Calls, Core Banking system Integration, Collection Analytics. It is also easily scalable to new ones such as: Collection BI, Document Management etc. The solution had to support all existing infrastructure such as the Cisco IP technology PBX installed in Athens and the main servers of the ASP model banking system on a private VPN abroad. The completion of the project, from its undertaking to the start its productive operation, in only 3 months, was particularly successful and proved in practice the flexibility and adaptability of the Collection system to the needs expressed by BMW Financial Services. The system returns fast and with a host of KPIs in real-time, integrated with the PBX in one module.

The benefits

The direct benefits of using the Collection system is the integration and automation of information and processes in a single environment, regardless of their origin (Collection to Host Banking system Integration). The requirement for process automation with extensive use of technologies for integration with with PBXs (Computer Telephony Integration – CTI), resulted in the minimization of the time and cost of customer communications and of the automated recording of critical communications information. The display to the extent required and on one ‘screen’ of all the characteristics of financial products leads to more efficient and productive communication and avoids the management of unnecessary or bad information. The support and detailed monitoring of key back office functions of the Collection system by defining agents, management of case assignments by managers, parametric rules for bucket definitions, creation and send of letters and other critical processes , ensure the quick and safe implementation of business rules in a fully transparent way for the company. Efficient management of the company’s resources, paired with the convenience offered by the system dramatically bring about exceptional improvement of customer service levels and demonstrate in practice that the Collection System is a valuable tool for utilizing any sensitive financial information in an effort for the dynamic implementation of optimal policies.