Streamlining Banking: Flexys and Thought Machine Lead The Way
In the ever-evolving financial sector landscape, the partnership between Flexys and Thought Machine is poised to make a significant impact. Their collaboration aims to integrate Flexys’ cutting-edge Control+ debt management platform with Thought Machine’s Vault Core, heralding a new era in cloud-native solutions for banks and financial institutions.
The banking industry faces various challenges, including mounting consumer debt, stringent regulations, and the slow pace of digital transformation. These issues have led to inefficiencies, poor customer experiences, and a substantial burden on banks running on legacy technology, particularly outdated debt management systems. Flexys and Thought Machine have stepped up to address these challenges head-on, providing a lifeline to the financial sector.
Seamless Integration for Transformation
The heart of this partnership lies in the seamless integration of Flexys Control+ with Thought Machine’s Vault Core, which promises to revolutionise debt management operations and modernise banks’ core systems. A shared vision drives this transformative collaboration – to empower financial institutions to evolve, innovate, and thrive in a rapidly changing world.
Flexys Control+: Leading the Way
Flexys Control+ is at the forefront of this transformation, offering a state-of-the-art debt collection product that leverages real-time streaming, digital engagement, and intelligent automation. With an impressive clientele, including TSB, Virgin Money, Admiral Money, MotoNovo Finance, and Plata Finance, Flexys has already made waves in the banking and financial services sector. Now, this powerful tool is set to be integrated seamlessly with Thought Machine’s Vault Core.
CEO’s Enthusiasm
James Hill, the CEO of Flexys, expressed his enthusiasm about the partnership, stating, “Working with Thought Machine to build a real-time integration between Vault Core and Control+ has been rewarding. Banks can now benefit from a seamless cloud-native ecosystem, leaving behind the constraints of legacy systems to improve efficiency, minimise friction, and vastly improve the experience for customers in arrears.”
Meeting Global Economic Challenges
This collaboration couldn’t come at a more crucial time, as global economic factors affect financial security and affordability. By embracing this innovative solution, banks can offer timely, responsive, and personalised services to assist customers in reaching appropriate and sustainable resolutions to their debt challenges.
Streamlining Banking Operations
Randolph McFarlane, Director of Partnerships EMEA at Thought Machine, emphasised the importance of this partnership, stating, “With Flexys, we are solving the challenges faced by banks during the end-to-end collections journey by streamlining and facilitating key pain points. By offering banks faster and less admin-heavy journeys, Thought Machine and Flexys are removing unnecessary burdens and human error. In turn, this enables banks to serve their customers better, providing a superior experience in a time when customer expectations are higher than ever.“
In Conclusion
In conclusion, the partnership between Flexys and Thought Machine represents a monumental shift in the financial sector’s landscape. By integrating Control+ and Vault Core, these two industry leaders are set to redefine debt management, improve operational efficiency, and enhance the overall customer experience. This collaboration is a testament to the power of innovation and technology in overcoming the banking industry’s challenges today. It’s a promising step towards a more secure, efficient, and customer-centric financial world.
