We’ve been shortlisted across three categories at the prestigious Credit & Collections Technology Awards.
Through our partnership with Virgin Money (VM), we have been named finalists in the Digital Business Transformation and Innovation in Collections & Recoveries categories.
Our third nomination is in the Affordability Assessment Solution award.
Our Director of Development and Partnerships, Andrew Alder, said: “It’s the second year in a row we’ve been named finalists across three awards and that is a fantastic achievement in its own right.
“We’re named among some of the big hitters across the industry, and we’re pleased to rub shoulders with so many fantastic companies.
“Over the last year, we’ve made huge progress as a business and the results we’ve seen from our software Embark highlights that. Our aim is to continue to transform the digital affordability solutions process for lending and collections.”
Embark is a digital income and expenditure (I&E) platform with capabilities including open banking, credit reference agency (CRA) integration, a self-serve arrangement module, integrated live chat and an appointment booking module. Used by over 25 organisations within the financial services and utilities sectors, it’s specifically supported VM in providing outcomes which took into consideration the customer’s holistic situation whilst embodying VM’s purpose of making customers happier about money.
As a result, VM has been able to realise significant benefits with the average handling time of affordability assessments reducing by 40% within six months, reducing operating costs in the process by circa £150,000.
Nick Watson, Head of Collections at Virgin Money, said: “Embark has been a game changer and allowed us to streamline our affordability processes, align our teams, provide new ways for customers to engage whilst reducing cost / creating capacity just at the right time as the cost-of-living challenges take hold. A great example of our purpose in action by making our customers happier about money.”
This year’s award winners will be announced on Thursday, 17th November, at the Midland Hotel in Manchester.