Trustfolio and Birmingham City Council awarded ‘Highly Commended’ for IRRV Excellence in Innovation Debt Management Award
20 October 2022
‘Debt-tech’ collective Trustfolio and its Creditor Debt Solutions Platform client Birmingham City Council have been jointly awarded a ‘Highly Commended’ in the Institute of Revenues Rating and Valuation (IRRV) Performance Awards 2022 ‘Excellence in Innovation (debt management)’ category.
The IRRV is the largest professional institution operating in the field of revenues, benefits and valuation with over 3,000 members. It’s annual Performance Awards recognise best practice in the sector.
The joint award entry detailed how Birmingham City Council is using Trustfolio’s innovative new Creditor Debt Solutions Platform to achieve both its social and commercial objectives. The first-of-its-kind digital tool provides creditor teams with a single view of their debt solutions portfolios, allowing them to securely automate many of the manual processes associated with the administering of debt solutions, including but not limited to Individual Voluntary Arrangements (IVAs), while improving consumer outcomes. The flexible, user-friendly debt-tech platform enables simple, efficient, and compliant management of debt solutions in-house.
Using the latest technology, it also facilitates seamless digital communication and engagement with Insolvency Practitioners (IPs) and Debt Management Companies for collaborative, data-driven decision making. Creditors gain much greater oversight and performance management information to develop their understanding of complex debt portfolios for long-term improvement. This approach goes above and beyond regulatory responsibilities to achieve the organisation’s overall objectives around recoveries and customer treatment.
Jonathan Woodward, Birmingham City Council, said:
“We were delighted to have been awarded a ‘Highly Commended’ in this category which recognises the innovative approach we have taken to better supporting customers in financial difficulties. Whilst we didn’t win the top prize, we’ve been really pleased with what we’ve achieved working with Trustfolio and this is only the beginning!”