NatWest deploys Paylink affordability checks across group network

NatWest Group has announced a major product initiative to adopt Paylink Solutions’ ‘Embark I&E platform, expanding its customer due-diligence and affordability check provisions across its bank network. 

The UK banking group detailed that it has taken a vital integration of Paylink customer affordability check provisions at a critical time for the banking sector following the conclusion of the ‘payment holiday’.

Back in March, Natwest Group approached Paylink to work alongside the digital teams of its flagship banks RBS and NatWest – developing a comprehensive view of customer affordability profiles on overdrafts, mortgages, loans, credit cards etc.

Paylink was tasked with adapting its Embark platform so that it can be integrated across the Natwest Group’s complex operating structures –  helping operational teams cover the critical disciplines of customer profiling, referencing, compliance oversight and verification during a time of heightened activity.

Chris Laverick, Head of DMO Supplier Management at NatWest Group, said: “We know, for some people, there is a stigma associated with debt and in particular having to speak to people about it.

“The introduction of the Embark I&E is not only efficient, but more importantly allows customers to self-serve if that’s their preferred choice, and it can be done out of hours which is working well for the customer. 

“Introducing CRA and Open Banking makes it easier and quicker for customers to get a full view of their financial statement, which they can also download for future use.”

Paylink’s Embark I&E will enable NatWest Group’s customers to fully self-serve and securely upload personal information for the banks’ agents for assessment. 

“With this pre-prepared oversight of the customer’s overall affordability, agents can understand the individual better and offer a suitable repayment plan,” NatWest Group stated. 

Further compliance benefits delivered by the Embark platform will help NatWest teams identify vulnerable clients to ensure they are offered tailored support with a NatWest Group agent via phone or live chat.

Sue RannPaylink Solutions

Underlining confidence in NatWest utilising Embark provisions, Sue Rann CEO of Paylink, highlighted her firm’s 20-year record in providing financial software to banks and building societies to overcome all market conditions and challenges.

Rann said:  We are thrilled to see the impact that our Embark tool has had on two of the UK’s leading banks’ collections processes.

“These are unprecedented times we live in, and it’s vital that customers get the financial support they need with as little friction as possible, particularly with the halting of payment holidays and redundancies on the horizon.”