The financial sector, in particular traditional banks, are facing a wave of competition from new entrants who come armed with flexible technology stacks and adaptable approaches. These ‘new arrivals’ are in a better position to meet the demands of customers in our “digital-first” and “always-on” society.
The rise of innovative technology, combined with increased regulation and a shift in consumer behaviour has meant financial organisations are now having to take a closer look at their operational functionality paying particular attention to providing a more customer-centric, digitally focused approach to collections.
Jean-Louis Bravard, director at Burnt-Oak Partners and former CIO at JP Morgan, said: “UK banking IT faces major challenges”.
Flexys Control+ works for the entire spectrum of financial organisations, new and traditional. Our solution can be seamlessly integrated with both new and legacy IT infrastructure. What is more, our modular approach to debt collection is revolutionising the way collections systems are implemented into organisations.
Replacing an ageing collections system no longer has to be a costly, capital intensive long term IT project. In its place is the concept of fast modular solutions that can be extended over time to provide a complete enterprise-wide collections solution. This modular approach to delivery means that a solution to address a specific collections issue, such as digital customer self-service, can be providing a return on investment in a matter of weeks at the same time as being the first progressive step to legacy system replacement.