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Repossession and Collateral Management

The Repossession and Collateral Management Microjourney™ in Pega Customer Service™ for Financial Services enables banks to effectively manage the repossession process, which requires access to loan information, payment history, collateral, and valuation information.

This microjourney helps banks to automate the process of sending initial right to cure (RTC) correspondences and subsequent reminders to customers. It also facilitates review and approval at different stages of repossessing collaterals that are associated with a loan account.

The Repossession and Collateral Management Microjourney is primarily a back-office process, though it can be initiated through assisted-service channels.

Back-office portal example: Default portal through which collections managers can approve or reject the repossession process.

Back-Office Portal

A collections manager can review the loan account details and collaterals selected and approve or reject the repossession.

  1. Collections manager reviews the details of collaterals identified for repossession.
  2. Collections manager reviews and verifies the loan account details.
  3. Collections manager reviews the reason for repossession.
  4. Collections manager approves or rejects with appropriate comments to complete the repossession process.

The Pega App Studio provides Persona information, Stages and Steps, and Data Objects all in one window.


Personas help you to group users according to the cases they work on, the channels they can access, and the responsibilities they have within a process.

Stages and Steps

Stages and steps show the visual path of the business process. The image below details the stages and steps of this particular microjourney.

Data Objects

Data objects organize and store data that your microjourney requires. These categories of data have fields, field mappings and connections to data sources.

Personas in this microjourney.

Customer service representative

The representative who helps a customer through assisted-service channels to voluntarily initiate repossession of collaterals.

Collections manager

The back-office collections analyst who approves or rejects the repossession of selected collaterals.

Stages and Steps

This microjourney includes the following stages.

  1. Initiate: a back-end process automatically initiates or a CSR manually initiates the repossession process; collaterals are selected.
  2. Process: a collections manager approves or rejects the repossession based on the value of selected collaterals and the loan amount to be recovered.
  3. Resolved: an external agency, if configured, physically repossesses the collaterals.


  1. CSR who initiates the repossession when a customer voluntarily requests on the assisted channel.
  2. Collections Manager who approves the repossession of collaterals.

Data Objects/Models

  1. Net worth of illiquid assets, which hold the collaterals associated with the loan accounts.
  2. Loan Accounts, which provide details of the loan amount to be recovered by repossession of associated collaterals.

Additional Information

See this article for more information about the Repossession and Collateral Management Microjourney.

Start this microjourney implementation.

Find more details and step-by-step instructions on implementation below.

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