Talgentra Launches Customer Revenue Management and Collection System for the Mortgage Industry

Bristol, UK – In response to strong market demand, Talgentra (www.talgentra.com) today announced a new version of its Tallyman customer revenue management and collections system, specifically for managing mortgage arrears and shortfall recoveries in the UK.

With more people struggling to meet their mortgage payments and many banks acknowledging growing levels of bad debts in the latest round of results reporting, lenders need to use every means possible to keep revenue recovery rates high.

Last week’s figures from The Department for Constitutional Affairs revealed that the number of home repossession orders made in the county courts of England and Wales in the three months to September 2005 is 66% higher than the same time last year, and the highest number since the third quarter of 1993.

It’s with this in mind that Talgentra’s Tallyman for Mortgage Lending system has been launched, incorporating innovative methods and proven techniques for managing revenue collection and minimising repossessions and write offs.

Tallyman for Mortgage Lending is specifically designed to help the industry administer and recoup high value, complex debt. It automates the collections process by consolidating all customer-related communications, including phone calls, emails, SMS, letters and faxes into a single database. However, the system’s unique value lies in its ability to segment mortgage holders in the same way that marketers segment customers and prospects using CRM systems.

Working together, Talgentra and the lender develop a set of agreed recovery and rehabilitation processes uniquely matched to the lender?s customer base. The Tallyman system can then automatically generate and manage targeted, customised and personalised communications with those customers – particularly vital in an industry where each case of arrears needs to be managed in an appropriate and sensitive manner. For example, a serial defaulter will not be treated in the same way as a new customer who defaults on their very first payment – perhaps because their direct debit has not been set up properly.

The system can also be configured to manage the later stages of recovery, including integration with the Court system and with other third parties such as insurance companies, solicitors and valuers and can manage the short fall recovery processes, including buy-to-let lending, where multiple mortgagees are jointly liable for the deficit.

Ultimately, Tallyman’s automation of administrative tasks frees up staff to concentrate on more valuable activities, like helping customers in arrears to reschedule payments or change the terms of their loan.

“This new, customised Tallyman system has come about in direct response to the market, and the need for lenders to help manage a growing number of people struggling to meet their mortgage repayments, and with the very real threat of negative equity,” said Brian Dewis, CEO of Talgentra. “Using Tallyman for Mortgage Lending, means that mortgage providers can adopt a more proactive approach in identifying and helping customers in trouble.”

Several well-known mortgage and loans providers have already customised Tallyman to fit their specific needs, including Bradford & Bingley and Lloyds Bank/Cheltenham & Gloucester.