Debtsense from Aryza uses Experian’s Open Banking service to allow people to share their account and transaction data, giving a clear and detailed picture of affordability, financial circumstances and commitments.
The insights will enable BNP Paribas Personal Finance to assess people whose finances have been affected by the pandemic and who may now be vulnerable. They can then be offered a payment break or an affordable payment plan based on their specific circumstances. The app uses the lender’s credit decision policy rules to create a personalised payment plan.
More than 200 organisations are currently using Experian’s Open Banking service, many to help resolve financial hardship as a result of Covid-19 pandemic. Charities including Citizens Advice Liverpool and Mental Health & Money Advice are using the service to support clients through the pandemic, tailoring advice based on the individual’s situation.
BNP Paribas Personal Finance will be using the Debtsense app via credit and debt recovery software specialist Aryza. The platform will help to support those in arrears as customers can set up affordable repayment plans and make payments in real-time using a mobile phone.
Experian is a global information services company. It helps individuals to take financial control and access financial services, businesses to make smarter decisions, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.
The Aryza Group`s products are designed to help financial businesses have a positive impact on the financial health and wellbeing of their customers around the world.
Its products cover every periodic stage of the debt cycle, including lending, debt recognition, debt resolution and collection. The Aryza Group, a Pollen Street Capital portfolio company, is formed of a range of global businesses providing insolvency solutions, loans, debt and savings products, and analytics.