Debtsense – putting consumers in control of their finances

Debtsense – putting consumers in control of their finances

Working with Experian, Aryza developed a digital tool that can be deployed quickly and cost-effectively with minimal integration, to help businesses deliver higher volume and better quality customer interactions.

Aryza began working on the Debtsense family of products over two years ago, determined to harness the power of open banking and bureau scores, and develop an accurate way for consumers to define their level of affordability.

By offering practical support and guidance around where money can be saved, as well as helping build affordable repayment plans, Debtsense is the first digital platform that puts consumers truly in control of their finances – allowing them to engage on their own terms in a fully digital experience.

Drawing on Aryza’s knowledge of AI-informed decision making, the product automatically analyses the data gathered and presents the consumer with the options available to them in an easy to understand format. This can range from repayment plans right through to exploring debt management solutions. 

Debtsense also includes the “Consumer Financial Health Check”, a tool designed to simplify the concept of a credit score and provide easy to understand tips to help individuals improve their overall financial well-being and relationship with money. 

Very few people feel comfortable discussing their finances – especially if they are struggling, so it’s understandable that many have problems understanding the finer details and most appropriate options.

Aryza and Experian have combined their expertise to make it easier for organisations to work with these consumers, by using Open Banking so people can share their data digitally and securely.

Organisations can then combine this insight with bureau data to gain the clearest possible picture of a person’s financial situation and find the best route for them to repay.

The product is currently being used by financial institutions to manage their ongoing relationships with customers, with other clients operating across the banking, lending, insolvency, debt collection and debt advice space. No other product provides access to lending, credit, debt management and financial rehabilitation tools all within a single, easy to use interface.