Credit, Collections & Insolvency News
Ten UK fintechs have been brought together in a new initiative by PwC which the company says will aim to showcase and shape the future of banking with collaboration, innovation, and personalisation at its heart.
Three years in the making, the ten businesses have contributed to the firm’s ‘Tysl’ ecosystem which incorporates a number of solutions including software, automation, artificial intelligence, data management and analytics, among others.
These solutions make it easier for customers to open up bank accounts, obtain specialised finance, move house and even digitally sign documents.
By adopting an API-enabled approach, which allows different software applications to communicate with one another, Tysl has enabled these businesses to collaborate and innovate together with PwC to build a banking technology proposition that allows organisations to significantly improve performance across a range of key measures.
This includes tackling complex customer journeys such as advanced Customer Relationship Management (CRM), Know Your Customer (KYC), Credit Decisioning and in life account and loan servicing across a number of areas such as mortgages, savings and corporate lending.
Using Tysl, PwC is now able to quickly build new digital solutions via a modern, low cost and customer-centric digital lending platform. This in turn will help the firm’s clients transform their customer-facing operations, and enhance products and services to meet the speed and multi-channel expectations demanded in today’s world.
James Morgan, Lead Partner on Tysl commented said “Banking is changing, people expect more and require personalised digital interactions. Based on the needs and expectations of tomorrow’s customers, we have developed our Tysl platform. This is helping our clients reach new customers, upsell and grow topline revenue by delivering enhanced capabilities whilst significantly reducing the costs of servicing the client from onboarding to in life servicing.”
Jon Hickman, Flexys CEO, commented: “The TYSL digital banking platform has customer experience and service at its centre. Flexys is providing the debt management function of TYSL to ensure that if customers fall into arrears, that same convenient, personalised service is available to help them resolve their debt episode.”
“Meanwhile, banks will be able to benefit from the low-cost efficiency, speed and scalability that cutting edge technology provides.”
The other businesses currently integrated with the Tysl platform alongside Flexys are Mambu, Yoti, Kompli Global, DueDil Just Move In,. Gazeal, SignNow, Codat , Saltedge, Credit Kudos and Lendingmetrics
