RxOffice® Legal & Recovery
green Arrow
RxOffice® Legal & Recovery Management Solution, helps Banks and Financial institutions to track the loan defaults cycle efficiently. It covers the self-explanatory workflow from Initiation of Defaults, Securitization, MCS101, MCS91, Section 14, Arbitration to 138 (Cheque Bounce).
The product has built in workflows, which help in Tracking, Managing NPA by planning appropriate action as per guidelines of Reserve Bank of India (RBI). Timely reporting will help the bank to take appropriate action and in turn reduce the NPA.
Gray vertical line
Product Features
  • The Special Batch Collection Module ensures that defaults are systematically handled from central facility
  • Automatic Template based Notice generation during various workflow and multi-language support
  • Rich workflow for managing Tendering, Bidding , Comparing and valuation
  • Seamless Integration with most of the CBS.
  • Provision to Add / Edit data received from CBS, ensuring missed data can be entered eg. Assets, Collaterals
  • Documents upload facility at loan level help in easy tracking
  • View complete Loan Information on Single Page. Information exportable in xls, csv and PDF formats
  • Flexible and Speedy Workflow configuration settings
  • Rule based Work Allocation by Round Robin, Region, State and Branch level
  • Secured messaging with Data Security and Confidentiality
  • The 'Legal Activities' allow tracking legal proceedings at all stage
  • Tracking of objections and feedback from the Borrower and Bank
  • Timely Completion of milestones with appropriate alerts
  • Customizable reports including those mandated by RBI
RxOffic® Legal & Recovery – Benefits
Functional Benefits
  • Comprehensive Application tracking the assets at every stages from the time the account has defaulted.
  • Pro-active decision and Preventive measures are designed to give initial warnings to avoid the asset from becoming a Non-Performing Assets.
  • Complete tracking of all the activity undergone with the default account during recovery period. Helps in taking fast decision.
  • Top down and Bottom up approach to manage the Non-Performing Assets.
Cost Benefits
  • Improved Efficiency and increased Productivity helps the management to track the default accounts more accurate with less number of man hours.
  • Helps the bank to reduce the cost of recovery and manage more efficiently.
  • With adequate monitoring and preventive management the system reduces the default account turning into NPA, which has a direct impact on the profitability of the bank.
  • Improves liquidity and reduces external borrowings.