At a Glance

●  Enables training of new users in less than one-half day

● Increase in the number of effective calls per day and members reached

● Delinquency reduction while improving expense efficiency in asset recovery

LBS Financial Credit Union, headquartered in Long Beach, California, since 1935, with $1.3 billion in assets and 124,000 members, was seeking to improve its existing collection management system. Searching for a real-time, user-friendly system with flexible queuing features and robust reporting capabilities, they explored a number of collection management systems before choosing Temenos digital banking Collection. Al Parent, Vice President of Collections, cited that the existing Temenos digital banking interface with their core provider made a specifically positive impact during the decision-making process.

Process Improvements

Since the implementation of the Collection module, LBS has experienced an increase in the number of effective calls per day, with a corresponding increase in the number of members reached. Temenos digital banking has contributed not only to a delinquency reduction but also to improved expense efficiency in their asset recovery effort by enabling a reduction in staff scheduling and the elimination of overtime. The ease of queue set-up and the ability to download reports to Microsoft Excel for “slicing and dicing” are features that enable management to focus the efforts of their staff where it is most beneficial.

The ease of use has made the collection staff very comfortable with the software and enables training of new users in less than one-half day. “Temenos digital banking is a more intuitive system, which has enabled us to become more efficient,” offered Parent. “Additionally, we have utilized the capabilities of the software to assist in our marketing efforts.”

LBS Financial was looking for a system that would enable us to reduce delinquency without increasing staffing. Temenos digital banking has really put us light years ahead of where we were.”

Al Parent, Vice President Collections at LBS Financial Credit Union

Quality Results

The choice of Temenos digital banking has provided significant improvement in both productivity and efficiency. LBS looks forward to continued success and would definitely recommend Temenos digital banking to others looking to improve their asset recovery process. “Based upon our experience to date and the fact that we have become such fans of Temenos digital banking, we look forward to future product offerings from Temenos,” Parent comments.

Region
  • North America
Solutions
  • Collections
  • Digital Front Office
Sector
  • Credit Union