BIRMINGHAM, England, Feb. 9, 2021 /PRNewswire/ -- Cerebreon, a leading data insights platform in the insolvency tech market, has joined the Vulnerability Registration Service as a member to enhance their existing vulnerability algorithms and rapidly identify individuals that need additional support in the debt process.
With unsecured debt reaching record highs and Covid-19 causing increasing levels of financial distress, Cerebreon's partnership with the Vulnerability Registration Service is the next stage in developing the 360o view of the consumer.
Gillian Doyle, CEO of Cerebreon, said: "Checking for vulnerability should be as normal to the financial services industry just as anti-money-laundering and credit checks are. This is much more than a regulatory issue – by signing up to the Vulnerability Registration Service, we are helping our own customers to rapidly identify additional vulnerabilities outside of financial distress so that the right resource, skill set or solution can be matched to the specific needs of the consumer."
She went on to say, "Our clients are exceptional at giving advice, but the time needed to fully understand the consumer's situation is substantial and costly. Adding the Vulnerability Registration Service to our platform accelerates this so that they can focus on resolutions to achieve the best outcome for all stakeholders."
The Vulnerability Registration Service provides the UK's first central vulnerability database. As a member, Cerebreon will be able to check against the database and be alerted if there is a vulnerability flag registered against a customer record. These flags provide an extra layer of protection to ensure that Cerebreon clients, including debt advice agencies and creditors, can instantly understand if a vulnerability exists for a consumer.
Helen Lord, Director of The Vulnerability Registration Service said: "It's great to have Cerebreon on-board and take such a strong stance in helping the insolvency and debt industry meet their vulnerability obligations."
Cerebreon's insolvency technology platform is transforming the UK debt industry with data, automation and machine intelligence to allow creditors, insolvency practitioners and consumers find the best outcome.