Credit, collections & insolvency news
Debt resolution specialist, Ophelos has announced that it has entered into an agreement to be acquired by debt purchase and collection company Intrum.
Intrum says the acquisition of Ophelos, will seek to advance the development of tech-enabled solutions in its offering by further strengthening its market position.
Ophelos is a technology company that uses AI to improve financial health for individuals, families and businesses in debt. Powered by proprietary their machine-learning decision engine, Ophelos is able to streamline the entire debt resolution process – from end to end – for the benefit of all involved parties. Customers are taken through an intuitive, personalised digital experience, and guided towards the most suitable solution for their circumstances. Clients are then able to dive deeper into the data with real-time dashboards and analytics, as well as gain complete oversight into areas such as regulatory and compliance adherence.
Ophelos will remain a separate brand within the Intrum organisation. The acquisition, which is subject to regulatory approvals, includes current client bases and will continue to be assessed and handled in accordance with previous practices.
Andrés Rubio, President and CEO of Intrum said “With Ophelos in place, we are adding yet another key component in building a tech-driven organisation. Clients, customers, and employees will be beneficiaries of the user-friendly technology we will provide. At the same time, we will be able to realise cost benefits as the customer journey is moving towards a digital-first and self-service set-up. We are very happy to join forces with Ophelos.”
Amon Ghaiumy, Founder of Ophelos said “Three years ago, we set out on a mission to transform how organisations engage with and manage customers who find themselves in financial difficulty, through the use of AI. I’m incredibly proud to say that we have made immense strides in realising this mission, helping thousands of customers improve their financial health across the UK, while building transformative AI-driven technology products that set a new standard in the credit management industry.”
“Looking ahead, this milestone will allow us to significantly scale and accelerate our AI products by tapping into the extensive resources, capabilities, and the world’s largest customer debt data set offered by Intrum. Our goal remains the same: to support millions of people in financial difficulty, while streamlining and automating traditionally manual credit management processes. I am confident that our collaboration with Intrum will allow us to reach this ambitious goal substantially faster.”
“Our clients and their customers will directly benefit from the superior services and products that we’ll be bringing to life. Together with Intrum, we are embarking on a journey to expand Ophelos across all major European markets, providing more enterprises with better tech and supporting more customers than ever before.”
“Very often, individuals and families feel like they lack control throughout the debt collection process. A lack of digital tools for debt management and antiquated communication methods are usually the main reasons. Ophelos addresses the core of this very problem. By combining our AI-enabled solutions and approach to debt collection with Intrum’s unrivalled data on +100 million European consumers, we will offer an improved value proposition to clients and customers and ensure a more seamless journey”