Automated Customer Assistance System for Past-Due Loan Management
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Solution Overview
Problem
Financial institutions face difficulties and costs in manually contacting numerous customers who have failed to make loan payments, necessitating an efficient system for providing assistance.
Innovation Solution
A customer assistance management system that includes a network interface and processor to receive credentials, notify customers of past-due amounts, and offer payment options such as paying now, making a promise to pay, or indicating inability to pay, facilitating automated assistance and potential settlement programs.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If manual contact is used to offer assistance to customers who have failed to make loan payments, then customer assistance can be provided, but the process becomes difficult and costly for financial institutions with numerous past-due customers
Solution Approach 1:
The system enables customers to self-serve by automatically notifying them of past-due amounts and allowing them to select payment options (pay now, promise to pay, unable to pay) through a user interface without requiring manual contact from financial institution representatives
Solution Approach 2:
The patent replaces the mechanical manual contact system (telephone, letter, e-mail) with an automated electronic system that uses processors and network interfaces to communicate with customers and manage payment assistance automatically
2Ease of operation
If manual contact is used to offer assistance to numerous past-due customers, then customer assistance can be provided, but the cost increases significantly
Solution Approach 1:
Customers independently access the system through user interfaces, view their past-due accounts, and select payment options without requiring expensive manual intervention from financial institution staff
Solution Approach 2:
The automated electronic system replaces costly manual operations with processor-based automation that can handle numerous customers simultaneously at minimal marginal cost
3Productivity
If automated notification system is implemented, then the burden and cost for financial institutions is reduced, but the system must effectively present payment options to customers
Solution Approach 1:
The payment assistance process is segmented into distinct options (pay now, promise to pay, unable to pay), allowing customers to easily navigate and select the most appropriate option for their situation
Solution Approach 2:
The system presents a consistent and uniform interface design across different payment options, making the interaction predictable and easy to understand for customers
Data Source
AI summary
In accordance with embodiments of the present disclosure, an apparatus may include a network interface configured to receive data from and communicate data to a remote electronic device and a processor coupled to the network interface. The processor may be configured to receive, via a user interface at the remote electronic device and the network interface, credentials for identifying a customer, and to display to the user interface a notification that the customer owes a past-due amount on at least one loan account. The processor may also be configured to display to the user interface a plurality of options regarding the account. The processor may further be configured to receive via the user interface and the network interface, a selected option from the plurality of options.