Bill Funding

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It is a standardization mechanism for defaulting customers through the financing of expired concepts and bills, with low interest rates and long payment periods.

In 2013, payment for 83,172 services was financed, for a total of COP ,750 million. This represents customer savings of COP ,144 million, compared to the rates offered by the financial system.

There was a general growth in the number of financed bills compared to the previous year, due to a change in the portfolio recovery strategy that is being managed through the legal collection contract.

Customer satisfaction regarding this service has been higher than 9/10 over the past 3 years.

In 2013, a pilot test of financing through telephone for customers in order to make this transaction easier for them was conducted. A special bill refinancing plan for customers with credits for natural gas conversion having an old defaulting portfolio was carried out. Benefits like a reduction of up to 100% of late payment penalty interests, exemption from collection fees, among others are included in this plan.

Loans were granted without requiring a down payment, with 0% interest and with a maximum payment period of 120 months for resettled clients and clients affected by forced displacement, massive natural disasters or fortuitous events.

In 2014, the electronic signature and fingerprint on payment arrangements will be implemented, helping to reduce the use of paper documents in the process. Moreover, Customer Service records along with the documents will be stored in the electronic client folder.

Bill Funding Evolution

Bill Funding Evolution

Last update: March 12, 2014. Visitor No 952