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Virgin Money introduces Embark affordability platform across its lending products

18th March 2022.

Our customised software brings Virgin Money’s operations together as part of a consistent affordability system for agents and customers to self-serve.

As people struggle with the increased cost of living, Virgin Money has taken its next step towards digital transformation by using our Embark platform to align its affordability systems and provide new ways for customers to engage.

Virgin Money staff will benefit from using Embark’s self-assist I&E configuration when in dialogue with customers, with prompts that highlight any customer over and under spending.

Embark allows agents to seamlessly refer customers to PayPlan for free debt advice, with details of their I&E and financial circumstances being presented to PayPlan’s debt advisors in real time.

The platform also has Credit Referencing Agency (CRA) integration, which provides optional access to import other credit commitments to give a holistic view of their financial situation.

Nick Watson, Head of Collections at Virgin Money, said: “We’re really excited to be using Paylink Solutions’ Embark solution, which will allow us to streamline our affordability processes, align our teams and provide new ways for our customers to engage.

“We want to make our processes as straightforward as possible for agents and customers, and the new software is something both will benefit from.”

Andrew Alder, our Director of Partnerships and Development continued: “We’re delighted Virgin Money has chosen our software, which reflects the bank’s significant investment in supporting its staff and customers. As the cost of living and number of customers struggling financially increases, this couldn’t have been done at a better time.”

Find out more about how Embark can benefit your business here.