1© copyright 2010 emc corporation. all rights reserved. xcp debt review application how xcp solves...

1© Copyright 2010 EMC Corporation. All rights reserved.

xCP Debt Review ApplicationHow xCP solves debt review processes for banks

Steven EtbergSenior Systems EngineerSouth Africa


Agenda• Background

• Customer Pains

• Solving the Problem

• Debt Review Application Preview

• Conclusion


Debt Review - Background• In 2005 the South African Government decided

that something needed to be done about debt provision and helping over-indebted consumers.

• The National Credit Act was promulgated in 2005, passed into law in 2006 and implemented on the 1st June 2007.

• Many economic experts are of the opinion that the forward thinking of the National Credit Regulator, South African Government is one of the key reasons that the country largely escaped the economic crash that hit Europe and the USA in 2008.


Role Players• Debt Review processes in South Africa

involve 4 main role players, namely:

1. The consumer2. 3rd Party Debt Counsellor (Authorised Financial

Advisor/Service Provider)3. The Credit Analyst at the bank4. The National Credit Regulator5. Credit Bureaux


Debt Review Process (1 of 3)

1Consumer

approaches Debt Counsellor for Debt

Review

2Debt Counsellor

requests consumers’

account balances from the banks

3Bank verifies

consumer & debt counsellor & sends

certificate of balance to debt

counsellor


Debt Review Process (2 of 3)

4Debt Counsellor

formulates & submits new repayment

proposal to the banks

5Bank receives

proposal from debt counsellor &

awaits supporting docs

6Over time the Debt Counsellor submits

supporting docs (court order,

restructuring, etc)


Debt Review Process (3 of 3)8

Debt Counsellor either negotiates counter offer with

bank or sends assessment results to consumer

7Credit Analyst

assesses proposal & decides to

approve, reject or counter offer the

proposal

9Consumer receives assessment result

from Debt Counsellor and

complies to new repayment plan



• Customer Pains



• Conclusion


Challenges for the bank• Bulky

• Slow

• Manual

• No regulation/compliance control

• Poor turn around times

• Lack of tracking, management and reporting

• Upset customers/Debt Counsellors

• Customer loyalty risks


Challenges for the bank• Currently all processes for the bank are

manual and can take days to just scan, sort and index docs…

Current Manual Sorting Process Current Manual Linking

Process

Current Manual Indexing Process

NCA Regulation requires strict turn-around times which are not being met due to the

slow, manual and error-prone process

Consumers are already in desperate measures applying for Debt Review and at further risk not having their applications processed in

time!



• Customer Pains



• Conclusion


Product Offering

In this case the bank is an existing customer with a mature implementation of:– Documentum Platform (Content Server)– Captiva (InputAccel & Dispatcher)

In order to provide the best application solution, the following products were added:– xCP (xCelerated Composition Platform)– DocSciences (xPression)


Potential Results using xCP & xPression• Lightweight, Dynamic, Simple & Interactive• Fast Transactional Processing with Rapid

Development Tools• Highly Automated fluid to Business Rules• Strong regulation/compliance control• Rapid turn around times with BAM monitoring to

improve efficiencies and identify bottlenecks• Extensive custom tracking, management and

reporting• Happy, relaxed customers/Debt Counsellors• Valuable customer loyalty



• Customer Pains



• Conclusion


Estimated Benchmarks for the bankBased on a single case

Measurable Current Timeframe Using xCP

Verifying Debt Counsellor & Consumer

1-2 hours Automated

Generating Certificate of Balance from accounts

4 hours Automated

Communicating with Debt Counsellor

2 days Up to 1 hour of Negotiations

Else automated

Sorting supporting documents

2 days Automated

Indexing supporting documents

1 day Automated else 1 hour for low confidence

extractions

Linking supporting documents

3 days Automated

Generating all documents, letters, counter offers and approvals

2 days Automated

Process Turnaround time excluding wait states

10 to 15 days 30 minutes to 3 hours


Actual Build Effort


THANK YOU

1© copyright 2010 emc corporation. all rights reserved. xcp debt review application how xcp solves...

Documents

consumer debt counsellor

debt counsellor slide

debt provision

debt review background

rd party debt counsellor

xcp debt review application

emc corporation

credit bureaux slide