When the recession hit the world economies a few years ago, at least some large economies stayed afloat- the reason being their strong banking system.
But not very late from then when the Indian banking system saved the economy from catastrophic sabotage came the big bad news of non-performing assets. Lakhs of crores clogged the banking system as bad loans and banks were suffocated for lack of recourse to recovery.
Fast forward to today and banking has evolved itself into a survivor, merging and trimming wherever needed. Several banks also created separate wings for asset management calling for credit appraisal and Non-Performing Assets (NPA) monitoring.
Neptune, the latest offering in asset management and recovery from Sesame is a complete suite that has a custom solution for every piece of bad news coming from the credit wing.
With a tech-smart NPA mitigation tool like Neptune to manage the mess, banks and NBFCs can focus their vital energies on the core banking operations and let the bad loan workflow take its own well-managed course.
Neptune comes with an entire gamut of interactive resources that help understand and manage the NPA scene in the institution, starting from NPA statements, asset classification summaries, evaluation and follow-up reports.
Neptune is designed to collate and manage information independent of the Core Banking Solutions (CBS) deployed by the banks and can work in comply with the CBS API.
Equipped with a dashboard that gives quick and compartmentalized access to the NPA management progress across the bank and its many branches, Neptune also has a comprehensive system that allows agents to follow up on recoveries using a commitment tracking system.
Apart from making the NPA process more visually comprehensible through its dashboards, Neptune also houses the technological tools to create a streamlined and clutter-free workflow that helps track the progress in the recovery process very closely and helps track user responsibility.
Not only does the technology help in establishing systematic contact procedures with the defaulters in the form of reminders- bulk SMSs and postal notices; it is also equipped with a SARFAESI compliant legal management system that can effectively process recovery in the event of insolvency and manage appropriate legal suits.