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The 2020 Official Awards Review Featuring the Company Power List

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The 2020 Official Awards Review Featuring the Company Power List POWERED BY AWARDS REVIEW 2020 FEATURING: CREDIT & COLLECTIONS TECHNOLOGY POWERLIST WELCOME NOTE Award winning PEOPLE and PRODUCTS for Financial Services I am pleased to share with you the 2020 Credit & Collections Technology Awards review and second annual Credit & Collections Technology Power List. The aim of this Awards review is to provide you with the background to the decisions made by the Judges in assessing this years winners. The Awards scheme prides itself on its transparent approach and therefore we are pleased to provide this review outlining the reasons for the 2020 results. 2020 is the fourth year of the Awards history and of course has been the year of change with many winners and finalists providing fantastic innovations which have been enhanced as a result of the on-going pandemic. Senior Manager & Complaints Certification Regime (Lloyd’s Market) The range of companies and individuals who entered this year was once again vast with (SM&CR) over fourty new entrants with a vast of array of interesting partnerships emerging as finalists. The Awards results provide some great statistics which define the transparency of these Awards. Individual unique reports on each company’s Awards entry performance can provide details on where each company was placed alongside judge’s comments. As a result of the past four year’s awards statistics, we are now able to update the company power list for 2020 and launch a unique league table which highlights the emergence and performance of established technology companies. Quality Assurance Testing The Power list is based upon award entry short listings and wins whereby points have been allocated. The resulting points are collated and a league table is created. From the points total we have now updated this to a Top 20 ‘premier’ credit and collections technology innovation company power list. The Power list review section provides more background to the top 20 companies who have qualified for the 2020 list. I hope you enjoy the awards review and power list guide and that it might inspire your company to consider the vital role that credit and collections technological innovation Complaints could play in your business approach. Training & Competence (General Market) Hopefully 2021 will see us emerge to a new way of ’normality’ and further growth of adoption of new technology in credit and collections. COLIN WHITE FOUNDING DIRECTOR, CREDIT CONNECT MEDIA www.worksmart.co.uk find us on 2020 REVIEW 3 WINNERS WINNERS CREDITOR & LENDER CATEGORY CREDITOR & LENDER CATEGORY Credit Reference & Information Solution POWERED Anti-Fraud Solution POWERED BY BY WINNER FINALISTS WINNER FINALISTS Cifas • Bottomline Technologies Aire • CoCredo • EQ Riskfactor • Credit Assist • Graydon • LendingMetrics • TransUnion and Bank of Ireland • TransUnion and Kwiff OVERVIEW Judges were looking for a credit reference and information technology solution which has improved credit and lending decision making OVERVIEW whilst enhancing customer experience. In this category the Judges were looking for a company to provide an overview of an innovative Credit Reference & and effective method of preventing cybercrime. AVERAGE RATING An effective solution which would protect lenders Information Solution and customers from fraud. AIRE 7.87 Anti-Fraud Solution AVERAGE RATING CIFAS 7.38 7.80 7.29 Congratulations to Aneesh Varma Founder & Chief Executive Officer at Aire and the rest of the Aire team on this win. 7.07 6.63 Congratulations to Lee D’Arcy Commercial Director and the team 6.54 7.00 at Cifas on their first-ever Credit & Collections Technology Awards 0 2 4 6 8 10 win. 6.46 5.83 0 2 4 6 8 10 The judges were impressed by the way Aire’s solution has increased financial inclusion by making credit reports visible. Aire’s solution gives access to decent Cifas provides impressive anti-fraud tech including facial recognition software for credit for thin file customers. reducing identity fraud. It is an invaluable tool with potential for wider application and has achieved excellent results. This the first credit referencing solution to enable those with poor and thin credit files to get credit and with low defaults. Cifas is one of the de facto standard fraud prevention tools in the UK - its WHAT proposition will strengthen through more firms being able to on board. THE Aire’s excellent and simplistic AI ,using open banking, proposition could WHAT JUDGES potentially change the credit reporting game. It is an interesting solution which THE identified the need and set out to tackle it. It is a solution which looks forward A facial matching tool that has proven to be effective at detecting ID fraud linked SAID rather than back. JUDGES to organised crime SAID Aire has a strong consumer focus is very innovative way to unlock value and Playing with face recognition to further reduce fraud is an innovative and create lending opportunities adding value to consumers. application of technology. 4 2020 REVIEW 5 WINNERS WINNERS Sponsored By CREDITOR & LENDER CREDITOR & LENDER CATEGORY Worksmart is trusted by the biggest names in CATEGORY Financial Services since 1997 to deliver market- leading Reg Tech solutions. Finance Lending Solution POWERED POWERED BY Credit Risk Solution BY WINNER FINALISTS WINNER FINALISTS LendingMetrics • Credit Kudos Satago • CreditOnline • CreditAssist • Divido • Graydon • Mann Island Finance • MotoNovo Finance • Marqeta and Capital On Tap • RateSetter • Satago • Zoot OVERVIEW In this category Judges were looking for a OVERVIEW demonstration of advancement in measuring, In this category the judges were looking for a defining and predicting risks. A risk solution that demonstration of a new or significantly improved has delivered real value and improvements to the service that has enhanced lending solutions organisations using it. benefitting creditors and borrowers. Finance Lending Solution AVERAGE RATING Credit Risk Solution AVERAGE RATING LENDINGMETRICS 7.33 SATAGO 7.19 7.29 Congratulations to David Wylie Managing Director and Claire Januszczak Head of Sales and the rest of the company on winning 6.78 this award. This is yet another special win for LendingMetrics as 6.96 they have now won this award for the fourth consecutive year. A fantastic example of an industry innovator! Well done to Lending Metrics! 6.88 6.78 Satago win this award for the first time, upgrading from their 2019 6.71 finalist status. 6.09 6.67 Congratulations Sinead McHale Chief Executive Officer and the This is a special win for LendingMetrics as they win this team at Satago. 5.63 category for the fourth consecutive year. To honour this achievement they become one of the first winners of the 6.29 0 2 4 6 8 10 Credit & Collections Technology Award’s platinum star for their consistent innovation in this sector. 5.92 0 2 4 6 8 10 Satago has created a very useful one platform tool. The solution helps to drive payments so that financing is a second not first option. The Feature rich system is an effective lifeline for SMEs helping businesses to The winning solution offers an innovative route to market. The company is clearly operate during tricky conditions, a leader in cloud based credit decisioning that makes cutting edge technology WHAT available to lenders with an affordable pricing model. Satago’s feature rich system enabled excellent case studies and results. WHAT THE The company offers a great use of software integration to assess the risk profile of THE Lending Metrics is a leader in credit decisioning that makes technology available JUDGES customers. It is a fast and flexible solution to invoice finance. to lenders with an affordable pricing model. SAID JUDGES It is an innovative approach to invoice financing that offers the flexibility that SAID reflects the nature of SMEs and is helpful at driving payments and financing as a second not first option. 6 2020 REVIEW 7 WINNERS WINNERS CREDIT & COLLECTIONS CATEGORY CREDIT & COLLECTIONS CATEGORY Affordability Assessment solution Contact Centre solution POWERED POWERED BY BY WINNER FINALISTS WINNER FINALISTS IE Hub, Atom Bank and Walsall Council • LendingMetrics Cabot Financial and Callminer • CCS • Marston • Digilog • Dynamatix and Lifestyle Rentals trading as Hiya • Tully an Openwrks company • Elanev and Provana • Paylink Solutions • Lightico • Noble Contact Centre • Noble Gamification OVERVIEW OVERVIEW The winner here needed to provide a Judges were looking for an affordability solution demonstration of an improvement in collections which can help improve credit or collections processes and strategy for contact centres. decision making. Contact Centre Solution AVERAGE RATING AVERAGE RATING Affordability Assessment Solution CABOT FINANCIAL AND CALLMINER 7.46 IE HUB, ATOM BANK AND WALSALL COUNCIL 7.50 7.08 6.96 7.45 6.92 7.30 6.73 Congratulations to Phil McGilvray McGilvray Chief Operating Officer at Cabot and Frank Sherlock International Vice President at Congratulations to Mark McElvanney at IE Hub, and John Donnelly 6.90 CallMiner and their teams on their partnership victory! 6.73 at Atom Bank and the team at Walsall Council on the first ever Callminer’s win mean they recapture the award the last won in 2017. triple partnership victory at these Awards! 6.65 6.85 0 2 4 6 8 10 5.92 0 2 4 6 8 10 The judges said that this category provided a strong mix of important contact The judges commented that this was a close call between the top two companies. centre developments, addressing customer experience and cost to collect. There were some great entries offering innovative ideas to customer contact. However the Judges said that the triple partnership entry demonstrated a good use of technology with a wide range of potential uses across multiple sectors The winning partnership demonstrated a real time analytics solution for coaching benefiting consumers and creditors. WHAT WHAT and improving customer outcomes. The solution clearly has a strong focus on ensuring the customer journey to improve is a bonus in aiding the customer THE The winning solution offers fast deployment and the ability to not repeat THE journey.
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