Phoenix and Policy in Practice online tool wins "Affordability Assessment Solution" award

The winners of the inaugural 2017 Credit & Collections Technology Awards were revealed on 7th December, with Phoenix and Policy in Practice winning the Affordability Assessment Solution category for our online Benefit and Budgeting Calculator.

The Awards seek to find solutions which place best customer outcome at the heart of all technology and innovation, which aligns closely with Phoenix’s customer focussed approach to delivering outstanding collections for clients from those who ‘can pay’ whilst ensuring we quickly and effectively identify and support those experiencing hardship or deprivation.

In 2014 the Financial Inclusion Commission said that almost 2 million adults did not have a bank account while a study from Birmingham University classed 22% of the population as financially vulnerable, meaning that they are having financial difficulties and have no expectation of an improvement in circumstances.

Not all of Phoenix’s customers are vulnerable but many do not have the savings or surplus income to settle their debt in full or via repayment terms that meet local authority creditor needs, for example prior to the next council tax billing year.

We also recognise that customers in these situations often owe money to multiple creditors. It is important to help customers prioritise debts and identify potential cost savings when preparing a realistic and sustainable repayment plan.

Our online tool is offered as a self-serve facility for customers to take control of their own financial situation without the embarrassment of discussing their circumstances face to face or via telephone. A live chat helpdesk and Phoenix’s dedicated Welfare team are on hand to offer guidance or specialist referrals where necessary.

Carole Kenney, Phoenix’s Customer Service and Performance Delivery Director, commented: “With most Local Authority billing and debt collection activities occurring via letter or telephone, Phoenix are often the first to come face to face with people dealing with hardship. This tool is helping us provide much greater support to the growing number of customers struggling to take control of their finances. We are delighted to see its benefits and capabilities recognised in these unique new awards.”


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