Star Tribune Names IC System a 2020 Top 150 Workplace

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Star Tribune Names IC System a 2020 Top 150 Workplace

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Debt Collections for Financial Institutions

A Collections Agency that Understands Banks

IC System has decades of experience in debt collections for financial institutions with both consumer and commercial debt. Our experience means we know how to tailor our accounts receivable management solutions to meet your specific needs through friendly collection practices, state-of-the-art technology, and the sense of regulatory security and compliance your business needs.

Financial Debt Recovery Services & Options

IC System provides accounts receivable recovery services for many businesses in the financial institutions market, including major banks, credit unions, accountancy firms, and more. Our team can function as an extension of your internal call center. Learn more below and get started.

IC System gives your financial institution the advantage in debt collection by:

  • Automatically sending debts
  • Keeping consumer data organized
  • Offering bilingual support and resources
  • Simplifying your collections processes and minimizing wasted time
  • Analyzing the best course of action for all accounts
  • Segmenting accounts to prioritize on maximizing revenue
  • Providing optional late-stage credit monitoring to stay up to date on probable ability to pay

FISA Score

Our comprehensive security assessment through FRSecure takes the place of the usual SOC report by including more stringent security parameters. The FRSecure assessment includes the parameters of a SOC audit, but goes even further to ensure additional compliance.

  • Our security auditing firm, FRSecure, set our FISAScore as “Excellent,” ranking IC System 27.3% more secure than the average competitor in our industry.
  • An audit performed not just on the portion of the network processing credit cards, but on our entire network. IC System is a Level 1 Service Provider.
  • Compliant with the Gramm-Leach-Bliley Act (GLBA), or Financial Services Modernization Act of 1996.
  • ISO 27002: Certified for over 100 security and compliance management controls set forth by the International Organization for Standardization.

Recovery Plans Tailored to Your Needs

The service you choose depends on your financial institution’s unique needs. Our team is here to provide you with a custom solution that best fits the way you work. If you ever have any questions about how our debt collection for financial institutions services work or the impact they can have on your revenue, don’t hesitate to speak with our dedicated team.

Recovery Plus

Recovery Plus is a diverse two-phase debt collection program with distinct letters-only and intensive collection treatments. During the letters-only phase, accounts are sent directly to you, and you keep 100% of recovered money. Debt collection costs are offered at a competitive flat rate.

  • Credit reporting*
  • Analytical modeling for maximum recoveries
  • Skip tracing
  • Direct letters

*Credit reporting available only on qualifying accounts

Pricing & Program Overview

Premier Collect

Premier Collect is a contingency collections plan ideal for offices seeking payment on past due accounts. The collection agency fees for this debt recovery program are contingency-based, adjustable based on your business needs.

  • Credit reporting to the major bureaus
  • Credit monitoring to notify us of an important change in the consumer’s credit status that may indicate an ability to pay
  • Attorney referral services in which payment demand contacts are made by an independent attorney
  • Litigation referral services if you decide to take a consumer to court
Pricing & Program Overview

Competitive Pricing for Every Business

Our economical rates and customer-friendly approach make our debt collection services not only a powerful tool but also an effective way to help preserve your valuable customer relationships.

Your comprehensive pricing request will include the following:

  • No cost pricing quote for your IC System services
  • Materials to help streamline your accounts receivable
  • A sample IC System agreement
  • Establish a follow-up plan

Get In Touch

We’ll help you identify the next steps to overcome accounts receivable challenges. Fill out our form or call 1-800-279-3511 to learn more or request pricing.

Unsure Where to Start?

IC System is big enough to meet your needs through our variety of resources and innovative technologies, yet not so big that we can’t move fast and provide tailor-made solutions. Our profit recovery services also feature a number of effective services and options including online tools, credit reporting, non-litigation and litigation attorney referrals.

Let Us Help

Experience in Any Industry

Banks, credit unions and other financial institutions will benefit from IC System’s vast experience in every industry segment. Our customized strategy applies advanced analytics to develop an approach best suited to your accounts, no matter your size or how many accounts you have. IC System ensures you receive intelligent and effective work effort for the best results. Experience the IC System difference today.

Industries We Serve

Want to Learn More?

Download our debt collections overview PDF for additional information.

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