Collenda
Adding New Dimensions to Credit Management

The COVID-19 pandemic has crippled the entire world, bringing the global economy to its knees. Financial institutions are struggling to cushion the economic consequences of the pandemic and working incessantly to provide liquidity to major companies quickly through special loan programs and practical measures. Despite the crisis, the brokering house banks are still required to carry out a credit and risk assessment. The overwhelming volumes of manual work involved in providing loans bring to light the need for effective digital credit processing. To help these institutions, Collenda comes to the rescue with its robust software solutions designed for the entire credit life cycle.

Collenda combines 30 years of rich experience of its credit management consulting and supporting teams with state-of-the-art technologies to deliver robust client-centric solutions. Based in Meerbusch, the company’s smart workflow helps customers to create more efficient processes and enables them to enhance the quality of reports through an integrated reporting system. As a long-trusted supplier of credit management and collections software to over 700 banks, corporations, and collections agencies across Europe, Collenda’s advanced Open Credit solutions empower customers to determine the modules that suit their business needs. Certified as the ISAE 3402 Type II, the company’s cloud services meet the best industry standards for security and reliability. Being flexible, Collenda gives its customers the option to either run the comprehensive software in the cloud or on-premise, thereby ensuring positive outcomes.

To help customers run more efficient credit operations, Collenda has smartly built its applications that streamline the management of a broad range of credit products and services. Additionally, Collenda’s platforms have ready-made workflows optimised for the needs of financial institutions, corporate credit providers, and the collection agencies (DCAs) and bailiffs that serve them. Collenda’s bank credit platform governs the entire credit life-cycle (including risk and regulatory reporting for commercial lending, mortgage lending, and consumer finance) through its performance analytics and smart workflow technology. Thereby, the company’s solutions provide complete transparency for management and tangible gains in recovery and collection rates. Similarly, Collenda’s corporate platform and agency platform helps balance effective debt management with fair treatment of debtors and provides an easy to use client portal that displays up-to-date information, accelerating casework, and speeding resolution respectively.

“Efficiency, efficacy, and user-friendliness are the key factors that will shape credit and collections management in the coming years. Our Open Credit 4.0 solutions provide our partners with applications that combine the latest technologies with an outstanding level of user convenience,” says Hartmut Wagner, CEO of Collenda. The Open Credit 4.0 platform arguably helps in the smooth flow of the entire credit process. Owing to its multi-functional modules, the easy-to-deploy platform allows smart and fast integration of several features while remaining flexible at the same time. Equipped with various APIs that offer real-time data exchange with partners, the scalable Open Credit solution provides customers with complete transparency. Not to miss, the AI-based intelligent processes and workflows embedded in the Open Credit 4.0 help customers achieve greater effectiveness at reduced costs. In short, it helps customers’ businesses to “flow and grow!”

To understand how clients can benefit from Collenda’s innovative solutions, let us take the case study of Melle Gallhöfer, Germany’s medium-sized retailer for roofs and facades. The client was seeking a new system to monitor its debtors. In their lookout, they came across Collenda. What happened next? Two well-established companies decided to take the road to success together. After six weeks of the first presentation date, employees in several branches of Gallhöfer Dach GmbH began their training. This allowed the decentral inquiries for credit reports in their 50 subsidiaries. The integrated scoring system also provided employees with different approval levels for credit limits. Customer receivables were monitored by the central credit and receivables management department in Neuss, where the significant credit decisions were made. Today, The DDMonitor integrated into the Collenda Credit Management solution, has the extensive stock of German collection data, and supports the specialist department in monitoring risk and provides essential information for customer assessment.

Scripting several such success stories, Collenda has successfully positioned itself as an eminent provider of digital solutions for credit and receivables management in Europe.