How Do Integrated Legal Management Systems Increase Profits?

Banks can cross-collaborate better on delinquencies when borrowers' information is consolidated and continuously updated to a single databank

A bank's ability to generate adequate profits depends upon the asset quality and dynamics of management for impaired assets. The 2008 economic slowdown had resulted in a marked increase in impaired asset portfolios in Banks. As an the volume increases for such assets locked up in litigation, process driven litigation monitoring is the need of the hour.

With information scattered around, it is difficult to keep record of every case. Integrated Litigation Management offers dashboards for an overview of debtors, data-accessibility for litigation teams, and information sharing using reports and notifications.

CRisMac ILMS | Integrated Legal Management System

Collaborate Effectively and Streamline Recovery Efforts for Quicker Settlements

Our solution keeps track of legal cases filed by a Bank. In-built interactive dashboards help banking and litigation teams collaborate with access to data sourced from credit monitoring systems.

CRisMac Integrated Legal Management System (ILMS) is a solution for any lending profile that requires efforts for recovery through legal processes. The software is built by former Bankers with 20+ years of experience in delivering transformative technologies to top Banks and NBFCs.

Integrated with Asset Classification Systems

Banks and borrowers need to keep record of every lender, and continuously monitor whether they will be a liability or an asset. A borrower’s account is classified as a non-performing asset (NPA) if the repayment is overdue by 90 days. In such cases, the lender has to first issue a 60-day notice to the defaulter.

CRisMac ILMS automatically sources details on NPAs from credit monitoring or asset classification systems. Notice generation can be automated if required. An ‘NPA Status Note’ for large borrowers can also be generated apart from the wide range of other reports which touch upon the various aspects of litigation.

Status notes can also be viewed on a mobile app allowing Banking Executives to make quick decisions.

Automated Notice Generation for Defaulters

The system generates notices for borrowers – Default Notice, Recall Notice, SARFAESI Demand Notices, possession notices, and certificates of sale. It stores complete case details like Case Description, Court, Title, Opposition party & attorney, related documents etc. to increase information-sharing amongst involved teams.

One Solution for All Recovery Litigation Efforts

Litigation Monitoring Solutions help Banks take timely actions for a variety of legal matters in lending. The cases that our software manages data for —

  • Debts Recovery Tribunals (DRT)

  • Securitization and Reconstruction of Financial Assets Enforcement of Security Interest Act (SARFAESI) Act which was commenced in 2002

  • Performance and Development Review (PDR) Act

  • Account for related areas such as arbitration

  • Consumer Complaints

  • Cases filed under section 138 of Negotiable Instrument Act

  • Section 25 of the Payment and Settlements System act

  • Right to Information (RTI) which was adopted in 2005