Credit Union partnership with Flexys aims to revolutionize debt management for top-tier credit unions
In a groundbreaking move, Flexys, a leading provider of collections software, has partnered with CU Share, a collective of leading credit unions, to revolutionise debt management for the sector. This collaboration aims to strengthen risk and compliance for the credit unions, providing the cutting-edge support that their members deserve.
Previously, individual credit unions faced barriers to adopting leading-edge technology. However, by uniting through CU Share, they have collectively secured Flexys' out-of-the-box collections software, which promises to provide software that enhances member experiences, speeds up work, and simplifies risk and compliance management.
Mark McAlpine, CEO of CU Share, describes the partnership as a game-changer. The credit unions, through CU Share, sought a solution to empower their members and optimise internal collections. James Hill, CEO of Flexys, expresses his excitement about partnering with CU Share, stating that the software is intended to streamline debt collection, boost operational efficiency, and enhance member self-service.
The software includes a comprehensive member self-service portal with income maximisation tools. It also features an agent interface that powers collections teams. The advanced software integration ensures seamless operation within the credit unions, consolidating various systems into a single platform. This consolidation provides credit unions with access to a wide range of standard reports and advanced analytical features that offer unique insights into collections performance, supporting better decision-making.
The advanced analytics allow credit unions to leverage data for more targeted and effective collections strategies, improving recovery rates while maintaining operational efficiency. Flexys collaborates with companies like Thought Machine and DXC Technology to provide integrated, future-ready solutions that modernise legacy systems, accelerate innovation, and ensure compliance. Although this partnership is more focused on banks, it reflects Flexys' commitment to delivering cutting-edge technology that benefits financial institutions, including credit unions.
The partnership between Flexys and CU Share is expected to ensure compliance with the highest standards, thereby strengthening the financial well-being of credit union members. Flexys' clients have reported impressive results, including collecting up to three times more debt and reducing complaints by 25%. With this partnership, credit unions can look forward to similar improvements in their collections processes.
In summary, Flexys' collections software enhances credit unions by providing a robust, integrated platform that consolidates data, offers powerful analytics, and streamlines collections workflows, all contributing to improved efficiency and higher recovery rates. This collaboration is a significant step forward in modernising the debt management landscape for credit unions, empowering them to better serve their members.
Businesses within the credit union sector can now leverage technology more effectively, thanks to the collaboration between Flexys and CU Share. This partnership not only aims to streamline debt collection but also enhance compliance in finance, ensuring a future-ready solution for these institutions.
Furthermore, the integration of advanced analytics in Flexys' collections software provides credit unions with valuable insights, empowering them to make informed decisions, optimize internal collections, and ultimately improve their financial well-being.
