Technology and Finance: AVO Bank and HiveTech's Collaboration

In the banking sector, numbers and algorithms play a significant role, but a deep understanding of the processes behind these figures is essential. With this aim, AVO Bank has decided to conduct a thorough audit of its debt collection system, going beyond formalities to achieve real insights.

For this process, the bank collaborated with HiveTech, a company specializing in digitizing the financial sector. The goal was not just to "check" the processes but to analyze them as a live system—identifying where the system functions at its best and where efficiency is lost.

Before launching the new Collection CRM system, the AVO team decided to reevaluate the customer journey from the perspective of processes, logic, and data. "The audit conducted with HiveTech helped us identify key growth points and provided us with a clear roadmap for improvements," said Rashid Lahlou, Chief Risk Officer at AVO Bank.

"This isn’t just a report; it’s a real tool for taking debt collection strategies to a new level," Lahlou added. The team focused not on merely "fixing" the system but on understanding why it functions as it does and ensuring each technology boosts the bank's flexibility, technological advancement, and customer-centric capabilities.

HiveTech's audit covered all aspects shaping the effectiveness of debt collection: IT infrastructure and system interaction, reporting and analytics, call center performance, and the quality of communication. The review also included employee training processes, supervision, contact updates, and skip tracing procedures.

The research methods resembled investigative journalism techniques, including interviews with business owners, script analysis, "undercover observation," and test calls. "We haven’t limited ourselves to merely identifying problems.

Our goal was to define a developmental path so that the bank understands which actions will yield results tomorrow and which require a strategic approach," said Javlon Rahmon-Zoda, the Development Director at HiveTech. As a result, a roadmap for improving the collection system was developed. This document combines quick improvements (Quick Wins) with key changes that influence long-term strategy.

This roadmap will become the foundation for the new Collection CRM system being jointly developed by AVO Bank and HiveTech. In the next phase, more complex areas—such as Hard and Legal Collection fields—will be analyzed, as debt collection in these areas demands not only automation but also legal precision.

"We plan to continue collaborating with HiveTech to bring the debt collection system to a level that is measurable, transparent, and manageable at every stage," said Rashid Lahlou. AVO Bank is one of the most dynamically growing participants in Uzbekistan's digital banking sector.

The bank aims to not only offer fully online products but also to create modern financial services where technology and customer convenience form a unified whole. HiveTech is a resident of IT Park Uzbekistan that specializes in automating business processes for the financial sector.

Their Hive Platform low-code constructor enables companies to quickly and efficiently create IT systems tailored to specific business tasks without the need for complex coding. Read “Zamin” on Telegram!