Flexys has partnered with Thought Machine to integrate its industry-leading Control+ debt management platform with Thought Machine’s Vault Core.
Banks are under pressure with rising levels of consumer debt, tighter regulation and slow digital transformation, resulting in inadequate innovation and poor customer experience. Those running on legacy technology, including debt management systems, face labour-intensive, costly, and inefficient processes.
Flexys and Thought Machine address these performance challenges through transformative cloud-native solutions that deliver considerable benefits and innovation to banking clients and their customers. The synergy between the two organisations’ missions and technologies will offer banks the ability to seamlessly evolve their debt management operation and fundamentally modernise their technology by replacing their core systems.
Flexys Control+ is a state-of-the-art debt collection product that maximises the benefits of real-time streaming, digital engagement and smart automation. Enterprise clients in banking and financial services include TSB, Virgin Money, MotoNovo Finance, Admiral Money and Plata Finance.
Commenting on the partnership, Flexys CEO James Hill said,
‘Working with Thought Machine to build a real-time integration between Vault Core and Control+ has been rewarding. Banks can now benefit from a seamless cloud-native ecosystem, leaving behind the constraints of legacy systems to improve efficiency, minimise friction and vastly improve the experience for customers in arrears.’
‘With global economic factors affecting financial security and affordability, banks will be able to offer timely, responsive and personalised service to help customers reach an appropriate and sustainable resolution to their debt episode. We look forward to a productive partnership that helps banks to realise their digital transformation goals.’
Randolph McFarlane, Global Head of Partnerships, commented,
‘With Flexys, we are solving the challenges faced by banks during the end-to-end collections journey by streamlining and ameliorating key pain points. By offering banks faster, less admin-heavy journeys, Thought Machine and Flexys are removing unnecessary burden and human error. In turn, this enables banks to better serve their customers, providing a superior experience in a time when customer expectations are higher than ever.`
To find out more about our work with the banking sector, and the options for a safe and secure debt management technology transformation,
Flexys has set the standard for modern debt collection technology. Control+ has enabled enterprise clients to gain control of their collections operation, modernise their approach and deliver vastly improved service to customers in debt.
Trusted by major household names, including TSB, Virgin Money, Water Plus, Admiral Money and Bamboo Loans, Flexys works with organisations to evolve their collections operation so that it is future-fit and able to respond quickly and dynamically to the challenges of a constantly changing world.
About Thought Machine
Thought Machine has developed the foundations of modern banking with its cloud-native core banking and payments technology. Its cloud-native core banking platform, Vault Core, is trusted by leading banks and financial institutions worldwide, including Intesa Sanpaolo, ING Bank Śląski, Lloyds Banking Group, Standard Chartered, SEB, Lunar, Atom Bank, Curve, and more.
Vault Core and Vault Payments have been written from scratch as entirely cloud-native technologies, giving banks full control to run any bank, product, and payment set to flourish in a rapidly changing world.
For more information, visit thoughtmachine.net