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Virgin Money to launch digital affordability platform

Thursday 24 February 2022 10:49 CET | News

Virgin Money has partnered with Paylink Solution to improve the way customers who have fallen into arrears provide their income and expenditure (I&E) information as part of a new digital affordability platform.

The customised software brings Virgin Money’s operations together as part of an affordable system for agents and customers to self-serve.

Virgin Money staff will benefit from using Embark’s self-assist I&E configuration when in dialogue with customers, with prompts that highlight any customer over and under spending.

Embark allows agents to refer customers to PayPlan for free debt advice, with details of their I&E and financial circumstances being presented to PayPlan’s debt advisors in real time.

The platform also has Credit Referencing Agency (CRA) integration, which provides optional access to import other credit commitments to give a holistic view of their financial situation.

Paylink Solutions is a fintech provider that delivers digital affordability solutions across the financial services sector. Originally developed for sister company, Paylink’s software now includes features such as Open Banking, digital triage, arrangement proposals, and auto requests for future affordability assessments.


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Keywords: product upgrade, partnership, digitalisation, financial services, Open Banking
Categories: Banking & Fintech
Companies: Paylink Solutions, Virgin Money
Countries: United Kingdom
This article is part of category

Banking & Fintech

Virgin Money

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