Flexys, Tuum to optimise debt management for banks

The unified ecosystem developed through Flexys and Tuum intends to be leveraged as a replacement for banks’ core systems, as it provides a cloud-based service that can simplify debt collection workflows. Also, by utilising real-time data, financial institutions can customise interactions based on each customer’s situation and demands. According to Flexys’ officials, integrating their company’s platform with Tuum’s is set to allow lenders to remove ineffective processes and replace them with optimised digital experiences that can assist customers with their needs. Moreover, representatives from Tuum highlighted that the two companies intend to mitigate debt management difficulties by delivering banks technology tools that can simplify collections from end to end, minimising issues through automation.

The current announcement follows Flexys’ partnership with Acquired.com from June 2024, when the two firms joined forces to provide an improved debt collection payment experience. The alliance intended to enable Flexys to implement an optimised solution that could enhance debt collection for customers, with Acquired.com assisting Flexys in implementing a multi-acquiring strategy. This allowed the company to provide additional options for transaction approval, payment type, acquirer data, and cost control. Their work together underscored both companies’ commitment to increasing flexibility for agents and customers whilst offering a more optimised payment experience across all payment methods.