Flexys, a UK-based supplier of collections management technology, has announced a strategic partnership with Moneyhub, a data and payments fintech specialising in Open Banking, Open Finance, and Open Data solutions.
This collaboration aims to enhance the collections industry by integrating Open Banking capabilities into Flexys’s cloud-based software.
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By GlobalDataFlexys’ software uses real-time data and automation to help collections professionals work more efficiently, resulting in faster and more successful collection rates.
By partnering with Moneyhub, Flexys will enhance its offering with Open Banking technology, providing unprecedented insights and streamlined processes for both collections professionals and their customers.
James Hill, CEO at Flexys commented: “We’re delighted to be joining forces with Moneyhub and are excited about the possibilities. Open banking technology will revolutionise collections, helping our clients to provide an improved experience for their customers.”
The integration of Moneyhub’s Open Banking solutions into Flexys’ platform is expected to deliver several key benefits
These benefits include enhanced financial visibility for more informed decision-making, streamlined payment processes, improved customer engagement through automated, personalised payment plans and increased efficiency and reduced operational costs for collections teams.
Open Banking technology enhances financial assessments by providing instant access to accurate data. This real-time information allows for precise Income and Expenditure (I&E) evaluations.
Suzanne Homewood, Managing Director at Moneyhub, said: “Open Banking offers the collections industry an exciting opportunity to reduce their OPEX costs, and the time and stress that customers face when things change and they find themselves in a forbearance journey. Partnering with Flexys enables us to supercharge the collections process, in the way we have done with originations. We are extremely excited to see how this partnership can spearhead change.”
This partnership represents a significant step forward in modernising the collections industry, combining Flexys’ expertise in collections management with Moneyhub’s innovative Open Banking technology. The collaboration is set to create a more transparent, efficient, and customer-centric collections process, benefiting both businesses and consumers.
