Collection process and obstacle of Standard Chartered Bank
Collection process of personal loan is a very grossly used terminology to describe the activities of the team in which I have been assigned as an intern. The team directly reports to Head of collection on a monthly basis and falls under the collection division Dhanmondi, in terms of local hierarchy. Customers are abundant and are increasing on a daily basis at SCB. It is imperative to have a proper system to collection process and it should be organized and comprehensible for further need in future. The collection –PL team is dedicated to collect, process, extract necessary money and report to proper authorities and store information – on financial nature. This Internship Report has been divided into several sections in the body, in order to put specific emphasis on different aspects of the work and internship experience. The report primarily discusses the work practices, philosophies, motives, goal determination, planning and execution of the plans for the collection team. The report shortly discusses the working methodology and aiding information technology used by the Standard Chartered Bank. However, there are certain information regarding the goal determination and strategy planning that has been deliberately skipped in this report, as they had been qualified by the SCB as classified information. The banking industry is one of the most competitive industries both in our country and globally and the report tries to show how SCB Group tried to design the activities keeping both the Global and individual Local Portfolios in mind. The report discusses daily activities of the collection team-personal loan and how it is interlinked and in sync with the rest of the Collection Unit, Head Office and Branch Offices.