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Know your Customer (KYC)

07 May 2022

Written by: Dirisha Dhanapalan


Know Your Customer (KYC) dates back to the 1990s when practices were put in place to prevent fraud and money laundering. In other words, organizations must ensure the consumer is genuinely who they say they are.  Various loan companies use it as an additional layer of security to their revenues and operations.

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Collection Snapshot - Debt collection techniques

 

19 November 2021

Written by: Nomvelo Koza


Collections Snapshot

 The collections Snapshot offers a comprehensive overview for tracing a consumer and provides the facility for decision-making on the viability of collection, making it easier for both the consumer and the debt collector.

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Know Your Customer (KYC) and Fraud prevention


16 April 2021


Know Your Customer (KYC) is a due diligence and compliance process used by investment firms, financial service providers, commercial and consumer investments in order to assess investors with whom they are conducting business with during the onboarding process. KYC is a standard requirement globally within the financial service industry.

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Identify people under Debt Consolidation

28 October 2020


Accelerate your collections efforts: Choose a person tracing tool to improve fraud detection and prevention.

Locating debtors costs you time and money. Being able to identify an individual that is under debt administration or has a Judgement against their name is critical.

Inspirit Data Analytics Services (IDAS) Trace Solution provides access to the most current information that is available on consumers and businesses.

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What is Debt Recovery?

Debt collection


20 JULY 2020

 

Handing problem debts over to a debt collection agency can be a quick and easy way to recover them. You can use a debt collection agency regularly or on a one-off basis.

Alternatively, you can use an online debtor tracing tool to trace absconded debtors in order to improve your accounts receivable.

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External Debt Collector (EDC)



24 June 202


Consumers are increasingly relying on credit from multiple credit providers to simply get by, and External Debt Collector (EDC) companies are receiving increased higher referral volumes. According to StatsSA, reports show that the debt-to-income ratios of customers at debt counsellors were at an all-time high in the fourth quarter of 2019. In addition, as a result of Covid19, it goes without saying that those numbers will be on the rise.

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Debt Collection made Simple

18 June 2020


Even in cases where debtors have absconded, debt collection can still be possible with the right debt collection tools. With extensive years of experience with providing debt collection solutions to Debt Collectors in South Africa, debt collection and the many techniques involved in tracing debtors to collect debt can be seamless.


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As a Legal firm, what are your pain points?

19 May 2020


1.    Lack of current contact information of debtors:


It goes without saying that successful recoveries rely on the ability to contact a debtor i.e. without current information you cannot recover the debt.


Primary reasons for a lack of contact information could be:

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Debtor Tracing Tool for Debt Collectors and Private Investigators

20 October 2019


Are you a Debt Collector or Private Investigator looking for an Online Debtor Tracing tool?

Searching for people, find a person by cell phone number or find people by name with the aim to track and trace bad payers and trace non-payers.

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Consumer Trace and Debtor Tracing made easy for Attorneys. 

10 October 2019


Debtor or Consumer Tracing is an integral part of legal due process.

In order for attorneys to serve documents legally to a debtor through a sheriff, the attorney must have the correct address of the debtor.

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Why small businesses don’t need to hire a Debt collection agency

07 September 2019


Why is there a risk when outsourcing collections efforts to debt collectors:

⦁ Being exposed to dubious collection methods that has a negative impact on your business reputation. For example, treating your former customer fairly whilst still getting job done....

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Data Driven decision making:

01 September 2019


Organisations today need to be more agile when it comes to their decision management. Having the right and correct information available using data tools, provides business managers control over an organisations decision making. This allows you to react rapidly to changes in a customer life cycle.

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Background Checks

15 August 2019


Background checks are often understood as having access to a person/company’s credit history or financial information before making a credit decision. 

The purpose of background checks is to allow companies to know if an individual or company can afford to make timeous monthly payments and to confirm personal information during a credit application process. 


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Struggling with Debt collection?

20 July 2019


Due to scarce resources, small to medium businesses sometimes do not have the tools/relevant information to collect outstanding debt. This proves even more challenging when debtors are unwilling to pay or deliberately evade payments by providing incorrect personal contact and address information.


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Who is Inspirit Consulting Group?

01 July 2019


Where does the name Inspirit come from?


The word Inspirit means rebirth. To infuse life or spirit, encourage, invigorate or strengthen.

This forms part of our core beliefs and passion when engaging with our clients.


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