Flexys and The Very Group team up on arrears support tech

Flexys, a supplier of technology used to manage accounts in arrears and customers in financial difficulty, has entered a partnership with The Very Group. The deal covers the systems the retailer uses when shoppers fall behind on payments, with both sides framing the work as an upgrade to that support.

The company's tools are designed for collections and hardship teams, giving staff a clearer view of a customer's circumstances so conversations about repayment can be handled consistently. Such software has become a bigger priority for creditors as they try to combine recovery of debts with treatment that meets regulatory expectations.

Under the arrangement, the emphasis is on reaching borrowers with the appropriate form of help at the appropriate moment, rather than a single approach applied to every case. The aim is to help people who have missed payments return to a stable footing on their accounts.

Neither the terms nor the rollout timetable were set out in the announcement. The move adds to a run of agreements in which lenders and retailers bring in specialist providers to modernise how vulnerable customers are handled.