Credit, Collections & Insolvency News
Support services provider MorganAsh has announced that it has integrated the Vulnerability Registration Service (VRS) with its own innovative MARS resilience tool.
The MorganAsh Resilience System (MARS) provides staff working in financial services with a simple way to assess, understand, rate and track characteristics that contribute to the vulnerability of individual customers.
The MARS tool uses a combination of existing data and customer assessments to deliver a “resilience rating” for each consumer. It draws on a range of sources of data that are assessed and combined to deliver the rating, which can then be communicated across organisations just like a credit score. The MARS tool overcomes the variations experienced when different people and sources of data are used to assess vulnerability, and delivers a consistent resilience rating.
MorganAsh has integrated into its MARS tool the Vulnerability Registration Service (VRS), which provides a database of vulnerable consumers extending across a range of industries. The service is free for consumers who want to register themselves and is populated with information from numerous organisations, including financial services suppliers, local authorities, utilities, charities and other non-profit organisations working with people in vulnerable circumstances.
Andrew Gething, Managing Director of MorganAsh, said “We are delighted to be working with VRS. While the MARS tool is focused on financial services and meeting FCA requirements, VRS is cross-industry and hence picks up people who have already informed another organisation and require a level of protection.”
Helen Lord, Chief Executive Officer of the Vulnerability Registration Service, said “The more organisations we can reach with our data, the greater chance we have of protecting vulnerable people from being caused further harm. We are very happy to be working with MorganAsh. They are taking some great strides with their MARS tool in the financial services sector towards really making a difference to how vulnerable people are treated.”
