{"id":183344,"date":"2023-06-15T11:44:53","date_gmt":"2023-06-15T01:44:53","guid":{"rendered":"https:\/\/australianfintech.com.au\/?p=183344"},"modified":"2023-06-15T11:45:09","modified_gmt":"2023-06-15T01:45:09","slug":"emerging-debt-collection-software-provider-paycepaid-selects-envestnet-yodlee-to-supply-synchronised-data-for-holistic-customer-financial-hardship-assessment","status":"publish","type":"post","link":"https:\/\/australianfintech.com.au\/emerging-debt-collection-software-provider-paycepaid-selects-envestnet-yodlee-to-supply-synchronised-data-for-holistic-customer-financial-hardship-assessment\/","title":{"rendered":"Paycepaid selects Envestnet | Yodlee to supply synchronised data for holistic customer financial hardship assessment"},"content":{"rendered":"
Paycepaid<\/a><\/span><\/strong>, an emerging debt collection software provider, has announced it will use consumer-consented financial data provided by Envestnet\u00ae| Yodlee\u00ae<\/a><\/span><\/strong> under Australia\u2019s Consumer Data Right (CDR) to assist with near real time financial hardship assessment of its customers.<\/p>\n The purpose of the collaboration is to allow Paycepaid to make informed data-led decisions about a customer\u2019s ability to repay debt and help people become debt free.<\/p>\n \u201cWhen Open Banking first began, it was primarily used only for credit applications, but we\u2019re using it for a different purpose. Our focus is on repayments and helping people get on top of their debts,\u201d said Paycepaid founder and CEO Bill Mali.<\/p>\n \u201cFrom a customer\u2019s point of view, we will be able to assess hardship in near real time and align that with the customer\u2019s ability to repay a debt. It\u2019s fairer, easier and a more purpose-led way of doing business.<\/p>\n \u201cWe take a holistic point of view and by using the CDR we can make informed decisions. The repayment schedule can change as a customer\u2019s financial position changes,\u201d said Mali.<\/p>\n Paycepaid is a customer centric, hybrid debt collection solution that empowers businesses to manage their end-to-end collections cycle while providing their customers with simple payment options, avoiding awkward conversations and reducing financial stress and anxiety.<\/p>\n It adopts an innovative customer centric approach to hybrid debt collection and combining the strengths of both approaches to debt collection, Paycepaid offers a comprehensive holistic solution that ensures a better, more effective and personalised experience for its clients and their customers.<\/p>\n \u201cWhen customers apply for financial hardship, it\u2019s vital to ensure you have the best data to support them efficiently and avoid further slippage. As a CDR Representative of Envestnet | Yodlee, Paycepaid can access live bank data to confirm important financial factors like income & expenditure and set up a personalised solution. This helps customers get back on their feet,\u201d said Envestnet | Yodlee\u2019s<\/a><\/span> <\/strong>Director of Business Development, Taner Uzelakcil.<\/p>\n Paycepaid has a portfolio of clients including major players in the telecommunications sector, top tier lenders, financial institutions and the Australian healthcare sector. The move also allows for the incorporation of experienced in-person debt collection teams into Paycepaid\u2019s debt management platform, giving clients full visibility on debt collection with a dedicated account manager.<\/p>\n","protected":false},"excerpt":{"rendered":" Paycepaid has announced it will use consumer-consented financial data provided by Envestnet\u00ae| Yodlee\u00ae under Australia\u2019s Consumer Data Right (CDR).<\/p>\n","protected":false},"author":21,"featured_media":183345,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[25],"tags":[135,161,164,211],"class_list":["post-183344","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech","tag-fintech-disruptors","tag-investing-in-fintech","tag-investors","tag-partnership"],"yoast_head":"\n