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Feb 22nd
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Home Technology India Debt collection software FinNex launched by Nexabion

Debt collection software FinNex launched by Nexabion

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Kochi, Kerala: Nexabion Solutions, a leading supplier of web-based automation software, announced release of FinNex. FinNex is an India's first office automation solution for banking associates with a comprehensive integrated feature set and reporting tools. FinNex is unique software which helps collection agencies to automate allocations, define business flow, mange employee payroll, and analyze business performance.
FinNex has cloud based architecture for better usability that can be accessed from any corner of the globe. Users can automatically upload bank schedules via Internet, providing a user-friendly, built-in interface for complete analyzing and reporting. Users also can browse reports, review performance, generate reports on demand, configure each user account, save reports locally, calculate salaries and even export reports to MS excel. No local installation of software is required on the user side making the application really platform independent. 
FinNex helps to overcome the problems that arise in a manual process of maintaining records of outstanding dues, agent's incentives, report generation etc. FinNex provides associates with accurate performance analysis and supports decision making in a better way.
FinNex will make banking agencies day-to-day management of debtor accounts simpler. Besides this, software is will also helps to improve the efficiency and effectiveness of all collection agencies.
Debt collection agency software like FinNex has been launched in a time when the rising interest rates, high inflation, high crude and energy prices and the Euro zone financial downturn are expected to keep the slippages elevated, and the margins for almost all commercial banks placed under pressure. With SBI already started recovering their NPAs and the other banks expected to follow the same route, debt recovery agencies can expect larger defaulters list every month.

Abdul Rasheed project manager – FinNex, said, "It will be the first step in taking Indian collection agencies globally competitive. At present, FinNex is expected to help HDFC and Bajaj auto finance collectors in cutting their back office burden and reducing human efforts there. Nexabion is looking to expand FinNex by adding services to more banks that use FinnOne as their loan management system", he added.

"We have set an ambitious goal of automating collection of all Indian banks those use FinnOne as their loan management system, by 2014. And we expect FinNex to help collection agencies to build a culture of innovation and entrepreneurship as well as making better decisions, collection networks, and revenue-generating customer support." Irshad MD, Nexabion said.



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