Improving debit order payment collection to increase customer satisfaction and trust in the client institution

BSG supported a South African asset finance house by analysing and redesigning their existing payment solution in order to comply with the South African Reserve Bank (SARB) early collection and account tracking requirements.

 

  • Implement DebiCheck, a SARB mandated Early Debit Order payment collection solution between the bank and its high-risk customers
  • Implement a payment solution that allows the client to track the customer account for a set period of days
  • Enable a seamless integration solution across multiple interconnected systems
  • Define a modular and scalable architecture design that allows the solution to be delivered according to business needs and priorities
  • Advise and guide the client in understanding the legislation and aligning this to the business strategy and objectives
  • Analyse and understand the client’s value-chain so as to provide insights into the impact on the existing processes, systems, business practices and customers
  • Architect and redesign the payment solution that will optimise the legislative requirements and safe-guard future consumer payments
  • Consistent cash flow due to a reduction in customer complaints and disputes resulting from fraudulent debit orders
  • An improved and accurate payment process which reduces reversals of legitimate debit orders and enables consistency in successful collections
  • Consumer better protected from debit order fraud by enabling electronic authorisation via their preferred banking channels
  • The client can collect monies owed to it sooner, before funds could be depleted by other debts
debit order payment collection compliance
Supporting our client to enable compliant mandated early collections that decrease disputed, unpaid and illegitimate debit orders

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We can help you balance risk and regulations with people, process and technology to make compliance a frictionless element of your customer programme, and beyond. We have experience in POPIA, AML, KYC, IFRS, BCBS and IAM.

Do you need to mitigrate compliance risk?

BSG has the knowledge and experience to leverage existing client and industry data to create a view that closes compliance gaps, and mitigates major financial and reputational risks.

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