Virgin Money and Paylink Solutions agree affordability partnership

Virgin Money has announced a partnership with Paylink Solutions which will be enhanced the way customers who have fallen into arrears provide their income and expenditure (I&E) information as part of a new digital affordability platform.

The customised software partnership brings Virgin Money’s operations together as part of a consistent affordability system for agents and customers to self-serve. Virgin Money staff will benefit from using Embark’s self-assist I&E configuration when in dialogue with customers, with prompts that highlight any customer over and under spending.

Andrew Alder, Director of Partnerships and Development at Paylink Solutions, said “As people struggle with the increased cost of living, Virgin Money has taken its next step towards digital transformation by using. Paylink Solutions’ Embark platform to align its affordability systems and provide new ways for customers to engage.”

“We’re delighted Virgin Money has chosen our software, which reflects the bank’s significant investment in supporting its staff and customers. As the cost of living and number of customers struggling financially increases, this couldn’t have been done at a better time.”

Nick Watson, Head of Collections at Virgin Money, said: “We’re really excited to be using Paylink Solutions’ Embark solution, which will allow us to streamline our affordability processes, align our teams and provide new ways for our customers to engage.”

“We want to make our processes as straightforward as possible for agents and customers, and the new software is something both will benefit from.”