Exception management

The collections function in an organization has a core activity: to bring customers back within the terms of their contracts. However, certain circumstances might make the pursuit of this core activity impractical, unrealistic, or non-compliant with regulations.

Timely recognition of such circumstances and efficient transfer of respective cases is in the best interest of financial institutions. Pega Collections™ delivers an initial set of data required for the following circumstances:

• Bankruptcy
• Health matter
• Natural disaster
• Deceased
• Military service

When you implement Pega Collections™, you can define and add other circumstances and processes. You also define the priority for every special circumstance process.

When a customer meets the criteria of a special circumstance, you remove the associated case from the automated treatment strategy and manage that case through a dedicated special circumstance process.

A customer might meet the criteria for more than one exceptional circumstance. For example, they might report a health issue and then experience a natural disaster. In such cases, the CSR captures all the relevant details. Whenever multiple special circumstances apply, which require the CSRs to initiate multiple processes, the process with the highest priority takes precedence. For example, if the CSR receives information that the customer is deceased, then this circumstance requires the leading process, and all other processes follow this highest priority process. Some customer circumstances, such as bankruptcy and death, require the CSR to transfer the case to a specialist team. The system automatically suspends all other activity.