Rethinking Debt Collection for good

A social impact pledge by

Problem debt is a big concern in the UK...
£ 0 Average debt per person that's equivalent to 110% of the average UK income
0 million people have fallen behind on at least one credit obligation
Every 0 min 0 sec someone declares bankruptsy in England and Wales
...and it’s getting worse
Covid-19 has affected individuals
1 in 4 people do not expect to recover financially for at least 12 months
11 million people borrowed to make ends meet during the pandemic
100% increase in private renters behind on their rent since May 2020
Businesses are suffering too
45% Small Businesses applied for external financial support in 2020 (vs. 13% in 2019%) for a gross banking lending of £104bn
33% Small & medium businesses expect to shrink over the next 12 months, making it even harder to repay financial obligations
1 in 5 European SMEs are concerned that they might default on their loans and be unable to cover basic business expenses and lease payments
Who Ophelos wants to positively impact:

People

Individuals, families and small businesses

Businesses

Companies who are seeking transparent, efficient and effective debt recovery

P E O P L E
1 in 2 are too embarrassed to discuss their debts and often feels overwhelmed, trapped, helpless or hopeless
but
4 in 5 Feel better about their situation after speaking to someone about it and wished they had more options to understand and deal with their debt
Our Aim:
1 Reduce levels of problem debt by helping 1 million people successfully clear their outstanding balances through our platform by 2026.
2 Raise individuals’ levels of financial awareness and comprehension by developing free online learning content, tutorial videos and tech products that educate customers on fundamental financial concepts and financial wellbeing. Our target is to reach 20 million people around the world by 2026.
3 Empower people with the tools to take control of their financial circumstances by providing customers with a digital journey that includes affordable and customised repayment plans, tailored to their specific financial and life circumstances.
4 Promote greater financial equality For every successful debt repayment made through Ophelos, we will donate a percentage to charity. Donations will be given to organisations that promote financial inclusion, improve mental health, and increase awareness of financial education and health.
5 Improve mental and physical wellbeing by offering more flexible and affordable payment plans, personalised solutions and the option of having some breathing space, we hope that many individuals' mental health will consequently improve.
B U S I N E S S E S
Traditional debt collectors use
QUESTIONABLE
and
OUTDATED
collection tactics when engaging with individuals.
and that's a
risk
for businesses because on average it takes:
12
positive experiences to make up for
1
unresolved or negative one
Our Goals:
6 Leverage tech and data to improve customer insights Application of AI & behavioural science allows us to gather rich insights on customer interactions. Through machine-learning based pattern analysis, we can start detecting early indicators for vulnerabilities and arrears. The outcome should be a better customer understanding & relationship.
7 Offer more cost-effective debt recovery approaches No home visits and fewer phone calls, letters and text messages and a much more efficient operating model, means we greatly reduce the cost of collections for our clients. Our digital approach is both more convenient and less intrusive, enabling us to connect with individuals when they want, where they want, and how often they want.
8 Lower businesses’ risk profiles across multiple dimensions Our approach to debt management lessens risk for our clients threefold: on a reputational, compliance, and regulatory level. We build products to identify, cater to & understand vulnerable customers allowing us to preemptively spot risks.
9 Help businesses build longer-lasting and more solid customer relationships Personalised solutions, a user-friendly digital journey and excellent customer support, ensure that every individual is looked after. A better customer experience with us will translate into higher customer loyalty for companies working with us.
10 Improve financial health for businesses We deployed our proprietary Ophelos decision engine across over 10,000 live accounts at one of the largest financial services companies in the world to help them engage with their customers during the Covid-19 pandemic. Our automated, personalised communications increased our client's recovery rate by 26.4%, while reducing cost-to-serve by 25.4%.