In Focus Consumer Credit
Simple checking Checking whether customers are in a vulnerable situation through VRS is simple and low-cost. It is relevant at key points in collections – at the point of default, prior to legal action
and enforcement and when debt is passed to a debt collection agency and beyond. Having advanced knowledge that a
Access to VRS is not technically onerous and does not incur significant development costs. We deploy API technology and security and compliance are integral to the functionality of our service
January 2021
consumer is vulnerable helps firms immensely in making the right tailored approach and in gaining a deeper understanding of what a consumer’s vulnerable circumstances are and how this can help the firms ongoing relationship with their vulnerable consumer’s to be handled carefully and appropriately. Access to VRS is not technically onerous
and does not incur significant development costs. We deploy API technology and security and compliance are integral to the functionality of our service. We are also able to work with companies
to batch run customer databases against the VRS to show any matches.
www.CCRMagazine.com
Conclusion Checking whether the people you are dealing with are registered as vulnerable on our database is an easy process, a tool to help identify vulnerable people is readily available and it is a proactive step to handling vulnerability responsibly.
l For details of how to work with the Vulnerability Registration Service and to make sure that you are taking advantage of a means to identify your vulnerable customers, please contact me, Mark Bryant – VRS Director on 07799 103815. I have been involved in lending and collections businesses for over 35 years. CCR
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