Mumbai, Maharashtra, India:-- Product developed based on the guidelines set by RBI for NPA
-- Brings forth the success of Default Management from US Finance Industry to the Indian market
-- Product handles seamless integration of various workflows in Default Management like Collection, Possession, Sale and Post Sale Processes.
IndiSoft, a technology development firm that provides Software as a Service (SaaS) solutions based on a collaborative rules-based workflow platform for the financial services industry, today announced the launch of ‘RxOffice NPA’ for the financial sectors in the Indian markets based on the recent guidelines set by RBI and Global market trends for NPA.
The exponential rise in the loan Non-performing Assets (NPAs) in the state raises serious concerns about the financial position of banks affecting its financial health. As such, with the launch of this product “RxOffice NPA”, the company is leveraging its capabilities in the Default Management, bringing forth its expertise and success from the US Finance industry to the Indian market.
The rationales behind launching RxOffice NPA are:
1. Rule and Role based system ensuring the information security.
2. Unique Comfort indicator which guides the user about recovery rating for the loan.
3. Workflow based system with all the standard workflows from Collection to Sales including 138.
4. Provision of batch handling for Collection
5. Vernacular language printing of Notices
6. Keeping a track of payments receipts
7. Can integrate with any CBS.
8. Tracking and Dashboard ensures that the users are always updated on the current scenarios and next To Do activities.
9. Secured mail inside the application ensures the data security
10. Host of reports including statement 3.
Commenting on this launch, Mr S.R Sabnis, Director Cosmos Bank said,”We are glad to be associated with IndiSoft and Rx Office NPA will be extremely helpful in managing the default loans”
Also present at the event, Mr R.B.Barman, former director RBI said,”this product follows the guidelines presented by RBI and as it goes through its life cycle, it will bring in more intelligence. Also this product will give much more value to the cost it incurs”
Mr Sanjeev Dahiwadkar, President Indisoft said, Rx Office NPA has helped banks in United States to manage their loans in a way where their number of cases increased in a year and their was a remarkable reduction in the number of resources.
According to Mr Prasad Nagool CEO, IndiSoft “We believe, the development of RxOffice NPA with the business expertise from Cosmos Coop Bank, will enable financial organizations to manage, track and take appropriate actions within the Legal and RBI guidelines on the Non-Performing Assets (NPA’s).”
IndiSoft LLC is a US based company which operates in the United States financial space. It has been recognized as the fastest growing companies by the Inc Magazine. IndiSoft has also been in the US mortgage space and enjoys leadership position in the default Management.
About IndiSoft Consultancy:
IndiSoft started its operations in 1999. What began with a clear and strong vision, today, has grown into an organization with wide spectrum of off-the-shelf products, thousands of man-months development experience and a team of qualified and diligent professionals, bonded together with an enterprising spirit.
Adhered to its sole mission, IndiSoft is on its way to build a healthy association with its customers by committing itself to cater to the customer’s various business needs. Today, IndiSoft’s products, services and professionals have already made their ways to the West, Middle East and the East Pacific ( http://www.indisoft-cs.com).
To view the photograph, please click on the link below:
Launch of RxOffice NPA
Eden Menon, WMA - India, +91 9869810067