Loan Recovery is an automated system designed to streamline the management and tracking of overdue loans in financial institutions. The system employs intelligent algorithms to prioritize cases based on various factors such as loan amount, delinquency period, and borrower history. It automatically generates appropriate communications at different stages of the recovery process, from initial reminders to formal notices, while maintaining detailed records of all interactions and recovery progress. The system also includes compliance checks to ensure all recovery actions align with relevant regulations and lending policies.

This system significantly reduces the manual effort required in loan recovery processes, enabling financial institutions to handle larger portfolios with existing staff resources. It ensures consistent and timely communication with borrowers, which can improve recovery rates and maintain professional relationships even during challenging collection situations. The automated prioritization helps focus efforts on high-priority cases, while the systematic tracking and reporting capabilities provide better visibility into the recovery process and help identify trends that can inform lending policies. The system also helps minimize compliance risks by ensuring all communications and actions follow prescribed guidelines.

The estimate assumes that the Atlassian Rovo platform is already set up and configured in the organization's environment with necessary integrations to loan management systems. It assumes that communication templates and workflow rules are already defined and approved by legal/compliance teams. The estimate also assumes that the builder has experience with financial services automation and familiarity with loan recovery processes, as well as access to necessary APIs and data sources.