Khan Bank selects Intellect's debt Management System to digitalize their collection process

Intellect Design Arena Limited, a digital financial technology product solutions provider for the banking and insurance sector, announced today that Khan Bank, the largest commercial bank in Mongolia, has selected Intellect's debt management platform to centralize operations and digitalize its collections process. Intellect's Digital Debt Management system will allow Khan Bank to manage its collections and recoveries more effectively and efficiently.

With 537 branches across Mongolia, Khan Bank is one of the largest commercial banks in Mongolia and provides banking services to an estimated 70% of Mongolian families. Centralization of Khan Bank's operations with Intellect's system will help the bank manage its collections and recoveries, automate those processes, and monitor them across the bank's branches, as well as allow the bank's staff to focus on more business-centric work.

Intellect Digital Debt Management helps banks manage complex debt scenarios with appropriate collection strategies. The solution is designed around six essential elements: Segmentation, Allocation, Work Prioritization, Incentives, Follow up and Escalation. It covers both collections and recovery with customer-centric follow up, versatile configurability, and the quick implementation of strategies.

John Bell, Khan Bank's CEO, said, "We have chosen Intellect Debt Management System to automate and centralise our operations across branches due to its strong functionalities, such as managing collections across various types of loans. The solution's versatile parameterization ensures a high degree of suitability and flexibility for our business. We believe this implementation will ensure effective collection strategies for us and help build a high-performance organisation."

Commenting on this win, K. Srinivasan, President, Emerging Markets, Intellect Design Arena said, "We are delighted to be the chosen partner for Khan Bank, one of the largest commercial banks in Mongolia for centralizing their debt management operations. We are confident that our solution will digitize the bank's rigorous collection processes, improve efficiency, and reduce delinquencies with faster time-to-market advantage".

Source : Equity Bulls

Keywords