23 May 2024
Tietoevry Banking's debt collection platform continues to get praise for its technical capabilities and modernization plan from Arum.
Tietoevry Banking’s Collection Suite Nova has been re-accredited and approved by Arum, the independent credit management solutions company. This is the 3rd time in a row that our debt collection system has been rated.
Our debt collection platform Collection Suite Nova excels in all six key areas of Arum’s review including technology, functionality, user interaction, processing & controls, roadmap, and implementation & change. In other words, the platform’s capabilities meet the current and future industry needs of the Collection & Recoveries market.
Nova was recognized as a proven and stable technology with an extremely flexible and scalable data model. Moreover, there have been advancements in API development.
In terms of functionality, both Nova’s system of record capability and specific capability for Debt Collection Agencies were highlighted, along with the flexibility offered by its scripting.
Nova was acknowledged for recording a complete history of agent actions for audit and control, as well as for the UI's (user interactions) look and feel – a top key area for us and any platform. As part of UI, actions can be configured to perform functions such as updating workflows, data, status, notes, and calculations.
Also, as a highly automated debt collection system, Nova excelled across the platform’s processing & controls, connected closely with usability. The platform impressed the reviewers with its configurable customer and account structure, accommodating varying views, and handling customer and account processing in distinct workflows. It efficiently manages debts with multiple items and seamlessly integrates parallel workflows as needed.
Even the implementation and change capabilities which include a complete support framework provided with a dedicated Tietoevry Banking team was acknowledged. The team empowers clients to take on a high proportion of parameterisation and configuration through the implementation.
As the final point, Nova’s visual roadmap for the future identifies key functionality improvements with dates, alongside focus areas and industry trends for future.
“We are glad to announce that our Nova system has been certified by Arum for the 3rd year in a row. This certification confirms the rich functionality and reliability of our technical platform, as well as our solid roadmap including technological modernization. Altogether this secures that our solution meets the Debt Collection market requirements both now and, in the future,“ says Ali Tarihi, Head of Collection, Tietoevry Banking.
"Congratulations to Tietoevry Banking on successfully completing the renewal of their Arum Approved System certification! This accomplishment highlights their dedication to maintaining high standards in collections and recoveries system capability, ensuring continued excellence for their clients", adds Matt Riddall, Senior Director, Arum.
Read more about Debt collection and Collection Suite Nova
Read more about Tietoevry Banking’s Collection Suite Nova accreditation in 2023
Read more about Tietoevry Banking's Collection Suite Nova accreditation in 2022
For additional information, please contact:
Ali Tarihi, Head of Collection, Credit Solutions, Tietoevry Banking
ali.tarihi(at)tietoevry.com
About Arum
Arum has been helping organisations resolve problem debt for more than 25 years across 20+ global territories. We provide clients with independent advice and practitioner support across collections and revenue.
Whether choosing or implementing collections technology, navigating digital business transformation, or improving customer treatments to achieve better outcomes, Arum experts are trusted by leading brands across public sector organisations, financial services (banking, lending, debt purchase), utilities, and telecommunications companies. www.arum.co.uk
About Tietoevry Banking
Tietoevry Banking is the market-leading provider of financial SaaS solutions for the Nordics and beyond. We modernize banks and unlock significant value for clients with our proven low-risk implementation of our market leading software for Cards, Transaction Banking, Credit, Financial Fraud Prevention and Wealth, as well as a modular, pre-integrated Banking as a Platform solution. With unmatched scale, expertise and specialization, we drive the industry forward by enabling financial institutions to become more agile and efficient, accelerating their digital transformation journey. We are part of Tietoevry; the group’s annual turnover is approximately EUR 3 billion. Tietoevry’s shares are listed on the NASDAQ exchange in Helsinki and Stockholm, as well as on Oslo Børs. www.tietoevry.com