Thought Machine joins Flexys partner ecosystem

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' state-of-the-art debt collection software 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 our software 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,