IBS signs Southbridge Savings Bank to Use CARM-Pro Collections System

Intelligent Banking Solutions announced the signing of a comprehensive licensing and services agreement with Southbridge Savings Bank, a 157-year-old community banking with branches in 10 Massachusetts communities, to license the IBS collections and recovery system CARM -Pro.

CARM-Pro is a PC-based, host-interactive system designed to streamline the complex delinquency collection and management process, while allowing bank management to maintain compliance with internal and external policies and procedures relative to the collections process.

“CARM-Pro remains a popular choice among financial institutions because it is fully configurable to meet the specific needs and requirements of local users, a key element that our prospects and clients point out when they measure the IBS system against other products in the marketplace,” said Charlie Bowden, IBS senior vice president for sales and marketing. Ease of use, its user-friendly graphical user interface and the strong client support references also rank high in product comparisons, he said.

The bank, with approximately $389 million is assets, uses the COCC core banking system as a host processor. The selection of IBS is the 32nd COCC client institution that has licensed the IBS collections and recovery system.

Currently, IBS has more than 1,200 individually licensed users of its Collections Management System and Asset Recovery Manager, and its new CARM-Pro system, at about 300 institutions in 45 states and the District of Columbia.