London, 5 June, 2015 - EXUS, the leading financial software vendor, has successfully delivered to Bahrain Islamic Bank, an upgrade of its Collection & Recovery platform, with the aim to fulfil the bank's need to adapt its operating model regarding NPLs in the context of a rapidly changing environment.
The turnkey system helped Bahrain Islamic Bank increase its efficiency in both early and late-stage collections by introducing risk segmentation & collections automation, supported bank's executives into their strategic decision making, while on the same time ensured compliance with Islamic banking practices and the local banking environment, rules and regulations.
The EFS Collection & Recovery platform addresses the full Collection & Recovery cycle of NPLs, covering both retail and corporate customer portfolios, including legal operations from early to late stages and providing a single point of reference for managing the entire bank's NPL portfolio.
Deployed in record time, EFS Collection & Recovery has already started assisting Bahrain Islamic Bank to substantially improve its NPL unit quantitative and qualitative performance indicators and provide greater visibility and insights of its portfolio performance to senior management.
"Mohammed Hassan", Deputy CEO of Bahrain Islamic Bank commented: "Our decision to buy the EXUS Collections platform re-enforced our desire to buy the best solutions that will keep our bank at the forefront of customer service and risk management, we are very satisfied with that decision now that the system is fully operational".
Michael Melachrinidis, CEO, EXUS added: "We take great pride in having been chosen by Bahrain Islamic Bank to assist them in addressing their Credit and Collection challenges. This is an additional indication that our product is one-of-a-kind, providing a holistic solution to the challenges organisations face today when it comes to Collection and Recoveries. I wish to congratulate our team for their quick responsiveness to the challenges set by our customers".
The software deployment is based on EXUS' Rapid Deploy® Methodology, which allows for a fully functional system to be set up in a very short time, enabling the bank to quickly start managing debt and collect payments on outstanding debts.
EXUS has successfully delivered the new NPL management system to Bahrain Islamic Bank.
About Bahrain Islamic Bank
Bahrain Islamic Bank (BisB) was established in 1979 as the first Islamic retail commercial bank in the Kingdom of Bahrain. The Bank is listed on the Bahrain Stock Exchange and operates under supervision and the regulatory framework of the Central Bank of Bahrain. The Bank, with 11 local branches including four new Financial Malls, has established the largest network among Islamic banks in the Kingdom. These branches offer quality banking services, financing and investment opportunities compliant with Sharia'a requirement for individual and corporate customers.
About EXUS
EXUS (www.exus.co.uk), a leading software vendor, was founded in 1989 with the vision to transform the costly and complex enterprise software industry - making it simple, accessible and exciting. EXUS provides specialized software solutions in 20 different countries in the banking, telecoms and utilities sectors.
EXUS' Collection and Recovery software is the solution of choice of large, medium or smaller size organisations since it is a complete solution addressing their collection and recovery needs throughout the lifecycle of bad debt management, it incorporates internationally accepted best practices and it is highly parameterisable and easily maintainable by end users, minimizing the need for involving IT resources. PRESS REPRESENTATIVE:
Ilias Delis, Press Relations Department, EXUS
T: +30.210.7450300, E: idel@exus.co.uk EXUS Software Tower 42, 25 Old Broad Street EC2N 1PB London, UK T: +44 2 081237407 m: info@exus.co.uk www.exus.co.uk
© Press Release 2015
