HOUSTON (July 2, 2007) – Scotiabank, one of North America’s premier financial institutions and Canada’s most international bank, has selected Shaw Systems’ COLLECTIONS product to support its delinquency and account management efforts for auto loans and leases.
The Travelers Automotive Finance division of Scotiabank focuses on financing automobile leases and loans within the marketplace originated through a network of pre-qualified automobile dealers across Canada. The bank was looking for a customer-centric delinquency management solution that could address multiple operational strategies such as collections and recovery, account management, customer service and operations.
Scotiabank will deploy Shaw’s COLLECTIONS solution in its loan/lease operations area to execute business objectives and attain advanced control over business processes. Some of these include: delinquency management, bankruptcy, repossession, charge-offs, skip tracing, re-writes, lease extensions, fraud, customer tracking, legal and specialty, and operations.
COLLECTIONS is a sophisticated collections and portfolio management application designed for banks, finance companies, credit unions, and other financial institutions. This full-featured product accommodates every phase of an account’s life cycle for loans, leases, line of credit, credit cards, mortgages, DDA, and other receivables.
With close to 57,000 employees and $396 billion in assets, Scotiabank Group and its affiliates serve approximately 12 million customers in some 50 countries around the world, offering a diverse range of products and services, including personal, commercial, corporate and investment banking.