TietoEVRY Oyj : Banking’s Collection Suite Nova is Arum approved for the 3rd time in a row

Published: 23 May 2024

Tietoevry Banking's debt collection platform continues to get praise for its technical capabilities and modernization plan from Arum.

Tietoevry Banking's Collection Suite Nova has been re-accredited and approved by Arum, the independent credit management solutions company. This is the 3rd time in a row that our debt collection system has been rated.

Our debt collection platform Collection Suite Nova excels in all six key areas of Arum's review including technology, functionality, user interaction, processing & controls, roadmap, and implementation & change. In other words, the platform's capabilities meet the current and future industry needs of the Collection & Recoveries market.

Nova was recognized as a proven and stabletechnologywith an extremely flexible and scalable data model. Moreover, there have been advancements in API development.

In terms offunctionality, both Nova's system of record capability and specific capability for Debt Collection Agencies were highlighted, along with the flexibility offered by its scripting.

Nova was acknowledged for recording a complete history of agent actions for audit and control, as well as for theUI's (user interactions)look and feel - a top key area for us and any platform. As part of UI, actions can be configured to perform functions such as updating workflows, data, status, notes, and calculations.

Also, as a highly automated debt collection system, Nova excelled across the platform'sprocessing & controls, connected closely with usability. The platform impressed the reviewers with its configurable customer and account structure, accommodating varying views, and handling customer and account processing in distinct workflows. It efficiently manages debts with multiple items and seamlessly integrates parallel workflows as needed.

Even theimplementation and change capabilitieswhich include a complete support framework provided with a dedicated Tietoevry Banking team was acknowledged. The team empowers clients to take on a high proportion of parameterisation and configuration through the implementation.

As the final point, Nova's visualroadmapfor the future identifies key functionality improvements with dates, alongside focus areas and industry trends for future.

"We are glad to announce that our Nova system has been certified by Arum for the 3rd year in a row. This certification confirms the rich functionality and reliability of our technical platform, as well as our solid roadmap including technological modernization. Altogether this secures that our solution meets the Debt Collection market requirements both now and, in the future," saysAli Tarihi, Head of Collection, Tietoevry Banking.

Read more about Debt collection and Collection Suite Nova

Read more about Tietoevry Banking's Collection Suite Nova accreditation in 2023

Read more about Tietoevry Banking's Collection Suite Nova accreditation in 2022

For additional information, please contact:

Ali Tarihi, Head of Collection, Credit Solutions, Tietoevry Banking

ali.tarihi(at)tietoevry.com

About Arum

Arum is the UK's leading independent provider of advisory and professional services within collections and revenue across the public and private sectors.

With 25 years' experience in over 20 countries, organisations choose Arum to prevent and resolve their problem collections and revenue challenges - whether executing strategic, operational and technical change within their organisations, choosing or implementing collections technology, navigating the inexorable move towards digital engagement, or improving customer treatment to achieve better outcomes.www.arum.co.uk

About Tietoevry Banking

Tietoevry Banking is the market-leading provider of financial SaaS solutions for the Nordics and beyond. We modernize banks and unlock significant value for clients with our proven low-risk implementation of our market leading software for Cards, Transaction Banking, Credit, Financial Fraud Prevention and Wealth, as well as a modular, pre-integrated Banking as a Platform solution. With unmatched scale, expertise and specialization, we drive the industry forward by enabling financial institutions to become more agile and efficient, accelerating their digital transformation journey. We are part of Tietoevry; the group's annual turnover is approximately EUR 3 billion. Tietoevry's shares are listed on the NASDAQ exchange in Helsinki and Stockholm, as well as on Oslo Børs. www.tietoevry.com