SINGER Key Growth Drivers and Financials
Appendix 3 - Proven credit approval, monitoring & collections process
Unique features of Singer credit model:
1. Branch managers are commission only
S
4.
Advance payments by customers
2. Branch manager responsible for uncollectible accounts
3. Collection bonus system
5.
6.
Branch manager can pay on behalf of customer
Security deposit
Credit Life Cycle: a systematic step-by-step approach to managing the credit process
Approval process
Customer
Credit Department /
Call Center Arrears
Follow up
Delinquency Letter
Blacklist
Monitoring
Credit Application,
Collections
Photo and
Identification Card
Two Guarantors
Point Scoring
Multiple Payment
Points
Account Checker /
Internal Audit
Promise-To-Pay
System
Repossession
Security deposit as at 31 December 2017 totals BDT 215m
Execute Credit
Agreement and
Welcome Call
Background Checks
And Physical Visits
Legal Recourse /
Security Deposit
Offset
Monthly Performance
Assessment:
• Credit Dashboards
• Balanced Scorecards
• VIP Clubs
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