Aryza is a provider of end-to-end, mission-critical automation software to business customers in regulated industries, focused on the lending, credit, debt recovery and insolvency sectors. Aryza’s solutions automate a wide range of activities including customer data collection, administration, and payment processing, covering every stage of the credit cycle. Aryza’s solutions are underpinned by unrivalled expertise and powerful data and are designed to have a positive impact on the financial health and wellbeing of our customer’s customers around the world. Since its foundation in 2002, the business has grown rapidly. Today it has global operations across four continents.
How can we use credit technology to help society? Is there a Nirvana out there, where we can perfectly translate what people need into a system that can give them all the answers? Time will tell.
Aryza’s 2022 campaign with Credit Today – From Recovery to New Risks – will start to address these questions, but before we look at the solutions, the first question is what to do with the debt we have.
Parameters of forgiveness
Forbearance is a strong word in the credit industry – forgiveness is even stronger. We are all aware of the problems people currently face. Can we really forgive people their debt, with the rationale being it is uncertain where responsibility for it lies in the first place?
The first main job for UK Plc – maybe even Earth Plc – is to work out the extent of the damage, as it were. What is the debt, where is it, how do we get rid of it?
Vulnerability is another buzzword in the industry. A universal definition of vulnerability would be a mighty fine thing, and let’s say we are working on it. But putting that together with considerations of debt responsibility gives us a job to do in moving on from all of these “difficult times”.
Memo to creditors: please feed into this…
The right approaches…
We at Aryza are aware that off-pat procedures and processes don’t always work, and we need a fall back of individual approaches to every single person and debt. We need to tackle the human aspects of affordability and vulnerability and make it simple for consumers to share their situation without judgment.
The tools are out there in the industry, from current debt advice and IVAs to upcoming statutory debt repayment plans.
But we are an innovative, fast-paced and forward thinking business and we have (so we like to think) some fantastic products out there, developed by experts over a number of years, with sensitivity to what’s actually happening out there, in that big credit world. The names trip off the tongue: Acquire, Recover, Engage, to name but a few.
We want to continue that evolution, linking with the lawmakers and regulators to shape future credit policy. Automating individualisation. Helping our customers help theirs.
Please enter this debate, give us your feedback, and join us on this journey, as we all expand.
Chief Executive Officer, Aryza