Virgin Money has made changes to the way customers who have fallen into arrears provide their income and expenditure (I&E) information as part of a new digital affordability platform, delivered by Paylink Solutions.

The customised software brings Virgin Money’s operations together as part of a consistent affordability system for agents and customers to self-serve.

Andrew Alder, director of partnerships and development at Paylink Solutions, said: “As people struggle with the increased cost of living, Virgin Money has taken its next step towards digital transformation by using Paylink Solutions’ Embark platform to align its affordability systems and provide new ways for customers to engage.”

Virgin Money staff will use Embark’s self-assist I&E configuration when in dialogue with customers, with prompts that highlight any customer over and under spending.

Embark allows agents to refer customers to PayPlan for free debt advice, with details of their I&E and financial circumstances being presented to PayPlan’s debt advisers in real time. The platform also has Credit Referencing Agency (CRA) integration, which provides optional access to import other credit commitments to give a holistic view of their financial situation.

Nick Watson, head of collections at Virgin Money, said: “We’re really excited to be using Paylink Solutions’ Embark solution, which will allow us to streamline our affordability processes, align our teams and provide new ways for our customers to engage.

“We want to make our processes as straightforward as possible for agents and customers, and the new software is something both will benefit from.”

Alder added: “We’re delighted Virgin Money has chosen our software, which reflects the bank’s significant investment in supporting its staff and customers. As the cost of living and number of customers struggling financially increases, this couldn’t have been done at a better time.”