Digital Debt Collection Software

CompassWay is a modern cloud-based debt collection software that helps optimize the recovery of outstanding debts with ease and efficiency. It offers an intuitive approach to managing debt accounts, enabling the creation of customized collection strategies while ensuring transparent receivables management.

The debt collection software handles all kinds of non-performing loans and receivables, including both unsecured and secured bank credit, as well as unpaid invoices resulting from the delivery of goods or services. Our collections system is designed to adopt an innovative, digital-first approach to debt management, delivering a seamless experience for both customers and users.

A Proactive Approach and Omnichannel Strategy

Boost digital debt collections and resolutions by adopting a proactive and respectful approach to managing debt. Utilize omnichannel communications, including SMS, email, IVR, and phone calls, to enhance engagement. Evaluate the impact of various digital channels on collection effectiveness. Distribute personalized payment links with a single click to streamline digital loan repayments. Ensure quality monitoring and compliance with data privacy and regulatory standards.

Debt Collection Goes Digital: An Easy-to-Follow Approach

System of Record

Centralize your case management with a comprehensive system to organize data efficiently. Collect contact details and financial histories to enable officers to engage with customers knowledgeably and positively. Utilize debt collection software to consolidate these data points into a unified financial system of record. Ensure easy access and quick information retrieval for effective case management. Provide timely follow-ups, particularly for vulnerable customers facing financial challenges, to maintain a supportive and efficient collection process.

Segmentation and Strategy

Create successful debt collection strategies by leveraging advanced classification capabilities and user-defined portfolio segmentation for informed decision-making. Utilize debt collection software tools to experiment with various strategies and analyze their effectiveness in real time independently of IT support. This unparalleled flexibility enhances your focus, efficiency, and organization’s security. Conduct A/B testing to refine and optimize your engagement strategies based on real-time insights from our campaign performance monitoring tools.

Personalized Communication

Keep customers well-informed about their outstanding balances by employing automated notifications. When balances reach predetermined thresholds, trigger tailored, out-of-the-box collection strategies automatically. Additionally, the software offers flexibility to blend automated and manual interventions. Curate a personalized borrower experience and communications, aiming to reduce flow rates by identifying the most effective communication channels for optimal returns. Monitor borrower behavior and feedback in real-time across all channels, enhancing the process with a robust compliance framework. resonate more effectively with your target audience, ultimately boosting the success of your marketing efforts.

Self-Service Options for Debt Repayment

Empower your customers by providing comprehensive self-service options that allow them to manage their debts independently and efficiently. Enable them to access their account information round-the-clock through a secure online portal. Through this portal, customers can receive timely notifications about upcoming payments, helping them stay informed and prepared. Allow them to view detailed breakdowns of existing debts, including principal, interest, and any accrued fees, fostering transparency and trust.

Further, facilitates easy online repayments, giving customers the convenience to make payments at their own pace and from the comfort of their homes.

Comprehensive Reporting

Take control of your collections process with our advanced debt collection software, featuring sophisticated analytics, real-time tracking, and dynamic reporting. Monitor daily activities, track payments, and review proposed arrangements comprehensively. Assess your portfolio’s performance over time and evaluate the effectiveness of your collection strategies. Utilize these insights to make informed, data-driven decisions that optimize outcomes. Enhance efficiency and effectiveness across your collections operations for unparalleled management and visibility.

Enhancing Efficiency

Achieve significant cost savings through the centralization of debt collection activities, automation of routine processes, and eradication of manual tasks. Embrace a proactive strategy to collect receivables promptly and maintain regular, consistent collection endeavors. Utilize key performance indicators (KPIs) and specific metrics for a transparent overview of collection effectiveness, and continuously monitor performance with our advanced debt collection software.

Natalia Burko

Head of Business Development at Taksaexpress

“In today's fiercely competitive e-commerce landscape, staying ahead of the curve is crucial.”

“Despite attracting numerous visitors to our e-commerce platform, converting traffic to sales proved challenging. We must resolve the problem of increasing the conversation rate and boosting sales. We partnered with Compassway to integrate loan business software to provide a 'buy now, pay later' (BNPL) in-house financing option. By empowering customers with flexible BNPLl loans, we not only improved the accessibility of higher-priced items but also significantly boosted our sales by 30%.”

Denis Bobrov

CFO of CreditUP.UA.

Our clients are primarily millennials who prioritize fast and easy lending services.

However, our manual risk management process was slowing down our credit decision-making. We shifted to CompassWay's lending solutions end-to-end loan management platform. This strategic move improved our customer acquisition cost and conversation rate from applicant to client. With the ability to quickly update risk models, we've seen a decline in default rates, thus enhancing our profitability. Looking back at the transition, it's clear that upgrading your systems was a wise decision.

Irina Senenko

Head of Customer Service at PIE CREDIT.

As a BNPL provider, we tapped into the burgeoning realm of SMEs on social media platforms like Instagram and Facebook, aiming to bolster their sales through a seamless, integrated shopping and payment experience.

the critical pain point of limited payment options contributing to high cart abandonment rates, we collaborated with CompassWay to devise a user-friendly BNPL solution tailored to our clientele. This initiative enabled merchants to effortlessly present flexible payment choices at checkout, empowering customers to purchase immediately and defer payments.
Working with CompassWay was a remarkably smooth process. The customizable nature of their solution allowed for rapid deployment, operational in mere weeks, greatly exceeding our efficiency expectations.

WHAT CUSTOMERS SAY

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Frequently Asked Questions

Can I tailor the loan management process to my business specific needs

Looking for a tailored commercial lending software that caters to your business requirements? CompassWay has got you covered! Our white-label solution offers complete customization options for digital lending process flow..We understand that each business has unique needs, and we're happy to offer additional customizations to ensure that our platform meets your requirements perfectly.

What stages of the lending process are covered by Compassway automated lending platform

Compassway consumer lender software closes the entire lifecycle of the lending origination process, from loan application, borrower assessment, and credit decision engine to servicing self-service repayment, reporting, and more. Our automated lending software allows you to manage the entire lending process from one admin panel, which allows you to increase management efficiency.

What credit product are supported by system

Our commercial lending software is capable of handling 12 different types of loan products You can also easily create individual product structures. You can quickly set up a new product, conduct appropriate tests, and reap the benefits of new product launches in a matter of days. This creative, versatile and unified set of solutions will help your company meet current and future challenges.

Can I use the trial version

To get free commercial loan software trial you need to sign up Sign Up you can get a free 14-day trial