Telford & Wrekin Council Adopts Trustfolio’s Creditor Debt Solutions Platform
10 October 2024
Trustfolio has announced that Telford & Wrekin Co-Operative Council has joined the growing number of organisations adopting its Creditor Debt Solutions Platform, with the council scheduled to go live with the system in October 2024.
Launched in 2022, the Creditor Debt Solutions Platform was designed by a collaboration of specialists from across the credit, collections, debt advice and insolvency sectors. The platform uses modern fintech technology to help organisations manage debt solution processes in a way that is secure, efficient and adaptable to the needs of regulated environments.
The digital platform provides creditor teams – from local authorities through to financial services firms – with a consolidated view of their debt solution portfolios. By bringing data together into a single environment, the system allows organisations to streamline and automate a number of previously manual processes while maintaining strong standards of governance, compliance and auditability.
The platform also enables more efficient digital communication between creditors, Insolvency Practitioners and Debt Management Companies. By improving the flow of information between the different organisations involved in supporting individuals with problem debt, the system helps reduce administrative overhead while improving transparency and consistency in decision-making.
Security and data integrity remain central to the design of the platform. Using distributed ledger technology to record key information, the system provides a robust and tamper-resistant record of activity, giving participating organisations confidence that sensitive financial information is managed securely.
The Creditor Debt Solutions Platform forms part of Trustfolio’s broader suite of technology solutions designed to support organisations working across the debt ecosystem. These services are used by creditors, debt solution providers, advisers, regulators and policy organisations to help improve visibility, governance and outcomes throughout the debt lifecycle.
Commenting on the partnership, Lou Yates, Founder and CEO of Trustfolio, said:
“We are delighted to be working with Telford & Wrekin as they implement the Creditor Debt Solutions Platform. This collaboration reflects a shared commitment to improving the way organisations support individuals facing financial difficulty. By modernising the processes that sit behind debt solutions, we can help create more efficient systems that ultimately deliver better outcomes for both creditors and the people they serve.”
Telford & Wrekin joins a growing community of organisations using Trustfolio’s technology to improve the administration of debt solutions and strengthen the collaboration between creditors and the wider debt advice and insolvency sector.
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