TDX launches HeliX10 May 2012
TDX launches HeliX, the first data exchange to bring together the knowledge of creditors to improve debt placement decisions and activity.
HeliX is the only data source specifically about consumers who have been or who are in financial arrears.
With founding members across energy, telco, water, financial services and debt purchase companies, HeliX already holds data for over five million consumers that is not available anywhere else.
HeliX contact data already delivers up to 17% liquidation improvement.
TDX have announced today it's launch of HeliX - a new data exchange that allows creditors to share a new level of knowledge about consumers in arrears to inform debt collection agency (DCA) allocation decisions and recoveries activity.
HeliX enables creditors and their DCAs to obtain a single view of a customer including their recent payment behaviour. As well as improving liquidation, HeliX also supports fairer treatment by providing a more holistic view of a consumer's full debt situation.
Mark Onyett, TDX Founder and Executive Director, commented, "I am very excited about HeliX as I believe it can deliver real innovation for the industry.
"We developed HeliX to help creditors and DCAs access a new breadth and depth of information about consumers in arrears - and to put their informed decisions into practice. HeliX offers a fresh data driven and collaborative approach that is much-needed."
HeliX is the first data exchange of its kind and has been developed in conjunction with creditors and DCAs.
Mark Onyett added, "Intelligent management of consumers in arrears has been TDX's sole area of focus and expertise since launch in 2004. HeliX is the next step in our evolution to make our propositions more transparent and easy to use as we continue to work closely with clients to understand their challenges and provide direct access to the data and analytics at the centre of our business."
Caroline Grant, Owner, Past Due Credit Solutions said, "HeliX enables us to reduce the amount of time we spend chasing contacts and gives us a fuller picture of each consumer's debt situation, making the results more certain for everyone involved."
With records and data for over five million consumers who are struggling financially, HeliX is already able to deliver improved liquidation results of 17%-100%, and the more creditors who join HeliX, the greater the benefit.
Dominic Briggs, Head of Consumer Billing, BT Retail commented, "HeliX enables us to do more than access information. It's about creditors working together to use that information. BT Retail is delighted to be a founder member of HeliX and to be part of a new wave of collaboration and data sharing."
Mark Onyett, TDX, added, "The typical debtor owes money to eight different creditors. As an industry we need to start to recognise this, to harness the information it yields and to factor it into our approaches and practices.
"HeliX is an industry first and it will change the way creditors think and act when it comes to collecting debt. HeliX proves the whole is indeed greater than the sum of its parts. Together we can reduce costly and unnecessary mistakes and inefficiencies to the benefit of all involved."