Banking
One of the biggest challenges for financial institutions is the ongoing problem of delinquent Demand Deposit Accounts (DDAs). These are the result of overdrafts on consumers’ checking accounts.
Positive cash flow is essential to your business and slow paying customers can negatively affect your bottom line.
A.R.M.’s Collection And Retention Effort (CARE) is a proactive solution designed specifically for collecting overdrafts. Since banks are now forced to write DDA’s off after just 60 days, our clients use CARE to compliment or extend their formal overdraft policy. More specifically that short and critical 30-60 day window you have to avoid this type of loss.
At A.R.M. we understand that internal resources are squeezed to perform at a higher level. So dedicating your internal staff to work this high volume but small balance portfolio is often unrealistic. But as you know, these small balances do add up.
This diplomatic 3rd party program does all the heavy lifting while your internal resources focus on collecting larger balances and generating sales on higher fee income products. In other words…the positive growth of your bank.
Most clients are able to realize a 60% reduction in annual write-offs, for an average cost of less than 5%. Best of all… our clients are retaining their customer!
Check out our Solutions or contact us today for more information.
