Aryza Insolvency Products
Help your customers resolve their debts and move towards a brighter financial future with Aryza Insolvency products
Tools to help insolvency professionals
Your customers are facing a difficult financial time, and Aryza provides the tools to make things easier for them. All our insolvency products can be ‘white-labelled’ allowing you to present your brand to your customers and help them to quickly understand their situation so they can make better choices, get out of debt faster, and feel more in control of their personal finances.
We have developed a group of products designed to help Insolvency professionals guide consumers through the process of applying for an IVA or Trust Deed, sharing data, conducting annual reviews, and then starting out on the route to financial rehabilitation.
All our insolvency products are available in secure interfaces that let consumers deal directly with you via their mobile device, PC, or tablet. They can be accessed 24/7 and can automate your existing processes and workflows to help customers manage their own journey whilst still providing a compliant, consistent, and structured path into an IVA.
The Aryza tools use a simple interface, presenting customers with simple questions and making it easy for them to submit information via open banking or manually to provide an accurate picture of their financial position.
The systems are built to require minimal integration, so you will typically be up and running in a matter of weeks without putting any pressure on your in-house IT resources.
There are 4 key steps to the customer journey:
Acquiring new customers
As part of the onboarding of new customers, you will already have processes in place.
Aryza Acquire dovetails with these processes to provide you with a compliant and secure journey for customers to share their information with you and a true end-to-end digital platform supported by powerful agent support tools.
Link with existing lead generation and marketing activity to add depth of information to all applicants.
Provide an in depth and accurate overview of finances based on open banking and credit bureau data.
Convert the data gathered into a Standard Financial Statement (SFS).
Apply rules to the SFS and provide an ‘advice model’ that presents the consumer with the best outcome for their current position.
Store the data in a secure Azure server.
Seamless transfer into case management tools – no re-keying required.
Agent interface allows an assisted journey if required.
Customers can simply upload documents to complete their application.
All new customers can be put through an evaluation process prior to involving any contact centre agents – reducing the headcount required to manage the onboarding process.
The service is available to customers 24/7 and on a device they prefer to use.
A true digital end-to-end onboarding service that can guide the consumer into the best solution available for them.
Speedy customer journey – it will take the consumer a matter of minutes to conduct their initial application.
Secure and compliant – the data the consumer provides is protected, by multiple security protocols.
Reach customers who have gone into ‘no contact’, or are not suited to a traditional call centre journey.
Rehabilitation of customers and increasing disposable income
Aryza products will help customers through their insolvency journey and provide you with the tools to monitor and record their progress.
As they go through the insolvency process you will want to give them as much support as you can. Aryza Engage allows you to give your customers additional support and guidance to improve their financial position and plan for the end of their IVA or Trust deed.
Customers that have gone through onboarding, recovery or the annual review journey can be offered additional benefits via a tailored ‘dashboard’.
Access to Experian Boost Score.
Credit repair via linking regular IVA and Trust Deed payments to an Experian credit score.
Customer has a secure login that provides access to additional benefits:
Benefit checker – uses their financial data to see if there are any benefits that the consumer may be entitled to.
Bill switching – our partnership with Uswitch can present alternatives for utilities, mobiles and broadband deals that may be cheaper for consumers and give them additional disposable income.
Tax refund – calculator to review the amount of tax paid and reveal if the consumer is due a refund.
Car insurance – alternative and more cost-effective options.
Help your customers to save money on bills, and check for any extra benefits they are entitled to.
Tailored dashboards give a unique view of each consumer’s financial situation.
Provide your customers with services beyond your core products, perceived as added value.
Help to educate and guide your customers so that they can have a more positive relationship with money.
Retain your relationship with your clients post their insolvency arrangement, by providing useful financial tools that guide them to a better future.
Conducting Annual Reviews of existing accounts
The annual review process is a requirement of the management of IVA and Trust Deed cases.
Aryza Review enables your customers to self-serve this part of their journey and automatically stores their details within your case management system.
Automation of the end-to-end annual review process.
SMS and email can be used to automatically send out emails to customers via the inbuilt CRM system.
Data can be transferred automatically to and from case management systems.
Customer completes the information via a simple process.
Rules are applied to allow the customer to either continue with their plan, or to be referred for further information gathering.
Typically, between 40-60% take up of open banking for Annual Review.
The information gathered for the Annual Review is based on real bank and bureau data so minimising the risk of fraud and errors.
Aryza has a strategic alliance with Experian so you can benefit from reduced rates on open banking and credit bureau information.
The system can accommodate your own processes and rules for Annual Review accept and refer.
Simple and seamless integration with existing case management tools means secure data and minimised risk of error.
Managing Arrears and Payment Plans
Inevitably some customer will fall into payment difficulties with their debt management plan.
Aryza Recover allows you to manage this situation sensitively through an automated series of communications with customers that are defaulting. This involves gathering information on affordability and vulnerability, and signposting the customer to an appropriate outcome. The system can automate payment plans, payment breaks, and collections. This provides an assisted version, so your agents can get involved when they need to.
Customers that are defaulting or in arrears can be invited to review their account and be provided with alternative plans, or payment breaks if appropriate.
Ability to use open banking and bureau data to populate an accurate picture of their financial position.
Data is retained as an SFS.
Rules can be applied to the data to offer either continuation of payment, revised payment plans or payment breaks.
All outcomes are stored in the system and communicated to the consumer.
Payment engines are built-in to enable payment plans to be defined automatically in line with your existing strategies.
Collections journey remains entirely in your control.
Reduction in the requirement for collections staff.
High rate of engagement with customers compared to traditional collection methods.
Customers able to self-serve at a time they want and using their preferred device.
Agent interface allows an assisted journey if required.
Additional features included in the package
Live chat or ‘robo’ chat can be integrated simply into the products.
Payment engines are included in all versions.
Campaign management is simply definable by your users in a sophisticated administration area.
Users can manage their own accounts and simply change details in a simple account interface – all protected by two-factor authentication.
– Change personal address details.
– Manage usernames and passwords.
– Manage standing orders and direct debits.
Ability to automate full and final settlement negotiation, and management of windfalls.
SMS, email and document templates can be uploaded and dispatched within the in-built CRM.
For more information and a quick chat about how we can help you improve all aspects of your insolvency operation call us on 0800 072 0092 or click the button below to book a demo with one of our team
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