Collections and Recovery Data Model

Banks or financial institutions can configure their systems to insert ‌collection-related details into the Collection Plan and related object records. They can easily import large volumes of Collections data from CSV files into Collection Plan and related objects. They can also automate Collections data import processes, ensuring data consistency and integrity by using the Composite Graph API. Using a single Composite Graph API request, they can create collection plans, collection plan items, contacts, and other related object records in one go.

• Collection Plan: Stores the details about the outstanding amounts linked to financial accounts, billing accounts, contacts, or accounts associated with individuals or an organization.
• Collection Plan Item: Represents an instance of a collection plan. Stores the delinquency details for an invoice or a financial account statement.
• Collection Plan Reason: Stores the reason for initiating the collection process, including non-payment of bills, bankruptcy, outstanding invoices, and deceased account holders.

Here’s the Collections data model.