Explore our engagement and recovery solutions for the utilities sector
At Aryza, our commitment lies in delivering innovative financial technology that supports you and your customers throughout the digital customer journey. We strive to connect you to affordable and accessible engagement and recovery solutions for utility providers.
Personalised digital solutions designed in partnership with utility providers
Global markets are rapidly changing, and the utility sector is focusing on affordability and accessibility amid rising prices and financial pressure.
In the UK, Ofgem are focusing on vulnerable consumer protection activities on the following five areas:
- Improving identification of vulnerability and smart use of data.
- Supporting those struggling with their bills.
- Driving significant improvements in customer service for vulnerable groups.
- Encouraging positive and inclusive innovation.
- Working with partners to tackle issues that cut across multiple sectors.
With this in mind, Aryza has developed solutions that are being actively used by a number of players in the utilities sector.
Aryza’s products allow utility companies to transform their business models and provide personalised financial solutions. Let’s connect now to demonstrate how our products can assist you and your customers.
Helping water companies engage with customers to identify their needs
There is a growing recognition of the need to address vulnerability among customer groups, such as those with long-term illnesses or disabilities, to ensure compliance with regulatory requirements. And following the Cost of Living Crisis and other financial challenges, we see a significant portion of bill payers struggling with household bills, indicating a need for enhanced support mechanisms and awareness of available schemes.
In December 2023, Ofwat set standards for water companies to ensure customers needing extra assistance get better service, complying with new rules for customer protection in England and Wales. The guidelines also acknowledge the needs of vulnerable individuals with illnesses, disabilities, or mental health issues. Water companies are expected to:
- Provide a high standard of service and support for vulnerable customers.
- Develop services that are inclusive by design.
- Identify customers who need extra help.
- Record their needs.
- Develop and implement vulnerability strategies.
As of February 2024, Ofwat can now fine water companies up to 10% of their turnover for breaching service standards. Ofwat expects companies to focus on resolving complaints and supporting customers during water supply disruptions.
With this in mind, Aryza has developed solutions that provide water companies with the ability to proactively engage with their customers, flag and highlight known vulnerable customers (in partnership with the Vulnerability Registration Service), carry out digital affordability assessments manually or via Open Banking which offer appropriate payment options according to the outcome, and signpost customers to the advice they need, if appropriate.
Our products deliver automated affordability assessment, customer engagement and payment plan management to support the energy and utilities sector
Highlights of Aryza software solutions for you and your customers
Personalised Payment Plans
Security
Automated decisioning
Minimal integration
Assisted journeys
Reliable data
Want to learn more about the benefits our solutions bring to the energy and utilities sector? Speak to us today
Aryza products are results driven, and typically generate:
93%
reduction in time to process each case
30%
reduction in Operating Expenditure
72%
of customers prefer to use our platforms over speaking to an advisor
