Company Solutions

Our Solutions have application to a wide range of financial services based sectors and product types. Whether an organisation wishes to undertake regular reviews of a portfolio to ensure compliance with internal guidelines or undertake manually based calculations on individual products and cases our Solutions can assist clients in meeting critical business requirements.

Redress

Redress

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Audit & Compliance

Audit & Compliance

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Read MoreAudit & Compliance

Complaints Handling

Complaints Handling

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Read MoreComplaints Handling

Provisioning & Risk ...

Redress

Redress

Exasoft has been providing redress solutions to the market for over two decades. Our clients include major banks, buildings societies, life assurance companies, investment companies, IFA networks and the Financial Ombudsman Service (FOS). Our sophisticated tools are capable of calculating redress associated with a wide range of product types either on a case by case basis or en masse from initial calculations through to claim settlement.

Some of the product types that can be catered for are detailed below:
• Payment Protection Insurance (PPI)
• Investments (inc. pension switching, ISA's and charges)
• Endowment/Pension mortgage
• Mortgages/Loans (underfunding, incorrect rates/charges etc.)
• Whole of Life Insurance
• Libor Rates
• HIPS
• CPP
• Savings
• Premium Rollup's
• Debt Consolidation

For further information please go to our Contact Us page.

Audit & Compliance

Audit & Compliance

Organisations are able to apply the company solutions to regular or intermittent internal audit and compliance reviews.  The same functionality used to address complaints and calculate redress are equally applicable where clients wish to run reviews on existing customer accounts to ensure adherence to applicable terms and conditions and to mitigate potential exposure at a later date where miscalculations may exist.  This can support client companies in the important area of Treating Customers Fairly. 

For further information please go to our Contact Us page.

 

Complaints Handling

Complaints Handling

Successful complaints handling is all about dealing with the complaint promptly and accurately. Where a complaint has been upheld by the Financial Ombudsman Service Exasoft is the De facto standard solution provider for redress.  However, the same tools used in a redress situation can also be used prior to FOS becoming involved and will allow an organisation to reach resolution with a complainant before matters progress to a formal complaint.

For further information please go to our Contact Us page.

Provisioning & Risk Management

Provisioning & Risk Management

Organisations are able to utilise the company software when assessing and monitoring risk management processes and controls with reviews of best practice and potential exposure in line with regulatory requirements and treating customers fairly.   The system's sophisticated calculation functionality will allow for the analysis of all or part of a clients portfolio particularly where the implementation of a remediation plan may be a consideration.  Exasoft can contribute to any organisation that wishes to identify and assess potential threats as part of their overall approach to risk management and provisioning.

For further information please go to our Contact Us page. 

CASE STUDIES

Below are a number of case studies illustrating how the delivery of our technical and business solutions can deliver real value to clients

Investment Product Redress

The client company was the UK arm of a multi-national banking institution. The project was to provide redress calculations in bulk in relation to an investment ...  read more..  Investment Product Redress

product. The system was required to initially compare the returns on the investment with the Bank of England fixed average rate.

The project involved consultancy resulting in the creation of data load scripts, bulk processes and wizards to provide a comparison between the above returns. 

Some of the activities undertaken during this project were:

  • Liaise with the bank's internal auditors and departmental personnel. This also included personnel from the FCA
  • Agree the methodology to be applied and start the technical deployment
  • Undertake system testing to valid results. Confirmation of these results to be agreed by all stakeholders 
  • The company then undertook provisioning runs based on datasets of over 250 thousand cases
  • We ran calculations for several months whilst the client setup the infrastructure in order to move the project forward
  • Supply the client company with ongoing support dealing with any queries and exceptions

This is an ongoing project with the next stage involving comparing the investment results with WMA indices and 50/50 splits.

Investment Product Redress

The client company was the UK arm of a multi-national banking institution. The project was to provide redress calculations in bulk in relation to an investment product. The system was required to initially compare the returns on the investment with the Bank of England fixed average rate.

The project involved consultancy resulting in the creation of data load scripts, bulk processes and wizards to provide a comparison between the above returns. 

Some of the activities undertaken during this project were:

  • Liaise with the bank's internal auditors and departmental personnel. This also included personnel from the FCA
  • Agree the methodology to be applied and start the technical deployment
  • Undertake system testing to valid results. Confirmation of these results to be agreed by all stakeholders 
  • The company then undertook provisioning runs based on datasets of over 250 thousand cases
  • We ran calculations for several months whilst the client setup the infrastructure in order to move the project forward
  • Supply the client company with ongoing support dealing with any queries and exceptions

This is an ongoing project with the next stage involving comparing the investment results with WMA indices and 50/50 splits.

Payment Protection Insurance Audit

We were engaged by the UK arm of a multi-national bank to review and audit their internal Payment Protection Insurance (PPI) calculators. This project involved the ...  read more..   Payment Protection Insurance Audit

company reproducing the banks calculation methodology to include loan calculations within our own calculation engine and related tools.  The objective was to provide comparison information between internally produced results and those produced by Exasoft to validate internal results. 

Some of the activities undertaken during this project were:

  • The bank had been using spreadsheets as part of their calculation processes. The bank compared these results with those generated by the Exasoft system
  • We ensured that the results provided from the internal processes employed by the bank were in line with PS10/12
  • We produced reports on our findings for the bank

We have now undertaken two similar reviews for this client.

 

 

Payment Protection Insurance Audit

We were engaged by the UK arm of a multi-national bank to review and audit their internal Payment Protection Insurance (PPI) calculators. This project involved the company reproducing the banks calculation methodology to include loan calculations within our own calculation engine and related tools.  The objective was to provide comparison information between internally produced results and those produced by Exasoft to validate internal results. 

Some of the activities undertaken during this project were:

  • The bank had been using spreadsheets as part of their calculation processes. The bank compared these results with those generated by the Exasoft system
  • We ensured that the results provided from the internal processes employed by the bank were in line with PS10/12
  • We produced reports on our findings for the bank

We have now undertaken two similar reviews for this client.

 

 

Mortgage Redress

Following a period of internal review we were engaged by a UK bank to identify mortgage customers to be redressed.  We were required to create cohorts, calculate ...  read more..  Mortgage Redress

redress, create letters, cheques and tax certificates and issue data files to an external printing company for fulfilment. This project was the first full end-to-end project undertaken by the company and was delivered within the timeframe allocated and subject to the client’s specific project requirements.

Some of the activities undertaken during this project were:

  • Onsite consultancy and project management to include a technical analysis and evaluation of the required outcomes
  • Offsite hosting of our system and the client's data with daily updates within a highly secure environment
  • Working with an internal project team to design and build the required solution for implementation
  • Deployment of the end-to-end solution including cohort identification, redress calculations, letter, cheque and tax certificate production connected to the print fulfilment through the appointed third party printing company
  • The client was required to approve the format and content of letters and cheques via a tool provided by Exasoft

Mortgage Redress

Following a period of internal review we were engaged by a UK bank to identify mortgage customers to be redressed.  We were required to create cohorts, calculate redress, create letters, cheques and tax certificates and issue data files to an external printing company for fulfilment. This project was the first full end-to-end project undertaken by the company and was delivered within the timeframe allocated and subject to the client’s specific project requirements.

Some of the activities undertaken during this project were:

  • Onsite consultancy and project management to include a technical analysis and evaluation of the required outcomes
  • Offsite hosting of our system and the client's data with daily updates within a highly secure environment
  • Working with an internal project team to design and build the required solution for implementation
  • Deployment of the end-to-end solution including cohort identification, redress calculations, letter, cheque and tax certificate production connected to the print fulfilment through the appointed third party printing company
  • The client was required to approve the format and content of letters and cheques via a tool provided by Exasoft

Regulated Product Compliance Audit

The company was engaged by a UK bank to undertake a recalculation exercise concerning regulated products that were deemed to have breached CCA rules. The project ...  read more..  Regulated Product Compliance Audit

involved the creation of data load scripts, batch processes and wizards to review these calculations with the potential to pay redress due for the periods of failure.

Some of the activities undertaken during this project were:

  • Onsite consultancy and project management during the technical analysis and evaluation phase of the project
  • Software development to accommodate some of the clients requirements surrounding the format of results
  • Installation of software for batch processing connected to the Bank's internal systems and infrastructure
  • Working with the client's finance and audit teams as well as other third party suppliers
  • Creation of letters and statements containing the results of the calculations for dispatch to the bank's customers

Regulated Product Compliance Audit

The company was engaged by a UK bank to undertake a recalculation exercise concerning regulated products that were deemed to have breached CCA rules. The project involved the creation of data load scripts, batch processes and wizards to review these calculations with the potential to pay redress due for the periods of failure.

Some of the activities undertaken during this project were:

  • Onsite consultancy and project management during the technical analysis and evaluation phase of the project
  • Software development to accommodate some of the clients requirements surrounding the format of results
  • Installation of software for batch processing connected to the Bank's internal systems and infrastructure
  • Working with the client's finance and audit teams as well as other third party suppliers
  • Creation of letters and statements containing the results of the calculations for dispatch to the bank's customers

Mortgage Advice Complaint

The company was processing a customer complaint which was felt likely to be upheld by the Financial Ombudsman Service (FOS). The nature of the complaint surrounded ...  read more..  Mortgage Advice Complaint

inappropriate advice having been provided when arranging a mortgage.  The adviser had recommended that the customer took an interest only loan supported by an endowment policy.   The client subsequently believed that they should have taken a capital and interest repayment loan.  A decreasing term assurance policy premium of £19.18 was obtained to assist in the loan recalculation.

The loan term was originally over 24 years which commenced on the 12th December 1988 with an advance of £70,000 and an endowment premium of £100.33.  The customer had moved to another lender on the 6th October 1992.  At this time an increase to the endowment premium was required to £115.33 due to a potential shortfall.  There had been a number of interest rate changes during the term of the loan.  A surrender value of £55,479.22 was obtained in respect of the endowment policy on the 2nd July 2012.

The above information was entered into the Exasoft Calculation Engine in two parts.  The first part related to the original lender and loan scheme terms.  The second part concerned the subsequent lender and the loan terms then applicable.  In addition the interest rate changes were included. The system then compared the actual loan terms to a recalculation of the loan had it been originally placed on a Capital & Interest basis along with the decreasing term assurance policy.  This showed a Redress amount due to the customer of £13,211.66.

Mortgage Advice Complaint

The company was processing a customer complaint which was felt likely to be upheld by the Financial Ombudsman Service (FOS). The nature of the complaint surrounded inappropriate advice having been provided when arranging a mortgage.  The adviser had recommended that the customer took an interest only loan supported by an endowment policy.   The client subsequently believed that they should have taken a capital and interest repayment loan.  A decreasing term assurance policy premium of £19.18 was obtained to assist in the loan recalculation.

The loan term was originally over 24 years which commenced on the 12th December 1988 with an advance of £70,000 and an endowment premium of £100.33.  The customer had moved to another lender on the 6th October 1992.  At this time an increase to the endowment premium was required to £115.33 due to a potential shortfall.  There had been a number of interest rate changes during the term of the loan.  A surrender value of £55,479.22 was obtained in respect of the endowment policy on the 2nd July 2012.

The above information was entered into the Exasoft Calculation Engine in two parts.  The first part related to the original lender and loan scheme terms.  The second part concerned the subsequent lender and the loan terms then applicable.  In addition the interest rate changes were included. The system then compared the actual loan terms to a recalculation of the loan had it been originally placed on a Capital & Interest basis along with the decreasing term assurance policy.  This showed a Redress amount due to the customer of £13,211.66.

Debt Consolidation Complaint

The client company had received multiple complaints surrounding historic debt consolidation advice.  These complaints had yet to be referred to the Financial ...  read more..  Debt Consolidation Complaint

Ombudsman Service (FOS).  The company wished to accurately assess these complaints by enhancing their Complaints Handling Service using the Exasoft calculation toolkit.  The complaints concerned the suitability of the advice provided to include the total loan amounts consolidated, the level of new loan repayments and, where relevant, any extended loan periods.

The company initially produced calculations of the original loans that had been consolidated had they continued until the original completion date(s).  They then calculated the consolidated loan based upon the applicable terms and loan period.   A comparison between the two allowed the company to decide whether the advice had been appropriate and if not what level of reimbursement or compensation may be due to the client.

These calculations were undertaken on a case by case basis to take into account the individual circumstances of each client.  This allowed the company to reach resolution with clients quickly and accurately prior to any formal complaints process commencing, avoiding the need to involve the Financial Ombudsman Service (FOS).

Debt Consolidation Complaint

The client company had received multiple complaints surrounding historic debt consolidation advice.  These complaints had yet to be referred to the Financial Ombudsman Service (FOS).  The company wished to accurately assess these complaints by enhancing their Complaints Handling Service using the Exasoft calculation toolkit.  The complaints concerned the suitability of the advice provided to include the total loan amounts consolidated, the level of new loan repayments and, where relevant, any extended loan periods.

The company initially produced calculations of the original loans that had been consolidated had they continued until the original completion date(s).  They then calculated the consolidated loan based upon the applicable terms and loan period.   A comparison between the two allowed the company to decide whether the advice had been appropriate and if not what level of reimbursement or compensation may be due to the client.

These calculations were undertaken on a case by case basis to take into account the individual circumstances of each client.  This allowed the company to reach resolution with clients quickly and accurately prior to any formal complaints process commencing, avoiding the need to involve the Financial Ombudsman Service (FOS).

Remediation Project

The company was asked to become involved in a major provisioning project as part of a potentially large remediation situation.  The instructing client was a ...  read more..  Remediation Project

multinational bank who required Exasoft to review 250 thousand individual cases which involved assessing in excess of 1.25 million transactions. Our consultants initially worked closely with the banks staff that had been tasked with undertaking this review in order to fully understand the banks requirements and ensure that the outcome of the project was accurate and delivered within preset timescales. The initial phase of the project involved uploading all relevant case data in preparation for the review using components specifically developed by the company to facilitate our bulk processing and fully managed services. This data required validation in preparation for undertaking the calculations.  The bank required that the cases be run on two occasions in differing reporting quarters for comparison purposes.  On each occasion this took place over a weekend with results being delivered to the bank on the first working day of the following week.  The output allowed the bank to accurately understand and report on the provisioning requirements for the cases reviewed.

Remediation Project

The company was asked to become involved in a major provisioning project as part of a potentially large remediation situation.  The instructing client was a multinational bank who required Exasoft to review 250 thousand individual cases which involved assessing in excess of 1.25 million transactions. Our consultants initially worked closely with the banks staff that had been tasked with undertaking this review in order to fully understand the banks requirements and ensure that the outcome of the project was accurate and delivered within preset timescales. The initial phase of the project involved uploading all relevant case data in preparation for the review using components specifically developed by the company to facilitate our bulk processing and fully managed services. This data required validation in preparation for undertaking the calculations.  The bank required that the cases be run on two occasions in differing reporting quarters for comparison purposes.  On each occasion this took place over a weekend with results being delivered to the bank on the first working day of the following week.  The output allowed the bank to accurately understand and report on the provisioning requirements for the cases reviewed.

Investment Product Redress

The client company was the UK arm of a multi-national banking institution. The project was to provide redress calculations in bulk in relation to an investment ...  read more..Investment Product Redress

product. The system was required to initially compare the returns on the investment with the Bank of England fixed average rate.

The project involved consultancy resulting in the creation of data load scripts, bulk processes and wizards to provide a comparison between the above returns. 

Some of the activities undertaken during this project were:

  • Liaise with the bank's internal auditors and departmental personnel. This also included personnel from the FCA
  • Agree the methodology to be applied and start the technical deployment
  • Undertake system testing to valid results. Confirmation of these results to be agreed by all stakeholders 
  • The company then undertook provisioning runs based on datasets of over 250 thousand cases
  • We ran calculations for several months whilst the client setup the infrastructure in order to move the project forward
  • Supply the client company with ongoing support dealing with any queries and exceptions

This is an ongoing project with the next stage involving comparing the investment results with WMA indices and 50/50 splits.

Investment Product Redress

The client company was the UK arm of a multi-national banking institution. The project was to provide redress calculations in bulk in relation to an investment product. The system was required to initially compare the returns on the investment with the Bank of England fixed average rate.

The project involved consultancy resulting in the creation of data load scripts, bulk processes and wizards to provide a comparison between the above returns. 

Some of the activities undertaken during this project were:

  • Liaise with the bank's internal auditors and departmental personnel. This also included personnel from the FCA
  • Agree the methodology to be applied and start the technical deployment
  • Undertake system testing to valid results. Confirmation of these results to be agreed by all stakeholders 
  • The company then undertook provisioning runs based on datasets of over 250 thousand cases
  • We ran calculations for several months whilst the client setup the infrastructure in order to move the project forward
  • Supply the client company with ongoing support dealing with any queries and exceptions

This is an ongoing project with the next stage involving comparing the investment results with WMA indices and 50/50 splits.

Mortgage Redress

Following a period of internal review we were engaged by a UK bank to identify mortgage customers to be redressed.  We were required to create cohorts, calculate ...  read more..Mortgage Redress

redress, create letters, cheques and tax certificates and issue data files to an external printing company for fulfilment. This project was the first full end-to-end project undertaken by the company and was delivered within the timeframe allocated and subject to the client’s specific project requirements.

Some of the activities undertaken during this project were:

  • Onsite consultancy and project management to include a technical analysis and evaluation of the required outcomes
  • Offsite hosting of our system and the client's data with daily updates within a highly secure environment
  • Working with an internal project team to design and build the required solution for implementation
  • Deployment of the end-to-end solution including cohort identification, redress calculations, letter, cheque and tax certificate production connected to the print fulfilment through the appointed third party printing company
  • The client was required to approve the format and content of letters and cheques via a tool provided by Exasoft

Mortgage Redress

Following a period of internal review we were engaged by a UK bank to identify mortgage customers to be redressed.  We were required to create cohorts, calculate redress, create letters, cheques and tax certificates and issue data files to an external printing company for fulfilment. This project was the first full end-to-end project undertaken by the company and was delivered within the timeframe allocated and subject to the client’s specific project requirements.

Some of the activities undertaken during this project were:

  • Onsite consultancy and project management to include a technical analysis and evaluation of the required outcomes
  • Offsite hosting of our system and the client's data with daily updates within a highly secure environment
  • Working with an internal project team to design and build the required solution for implementation
  • Deployment of the end-to-end solution including cohort identification, redress calculations, letter, cheque and tax certificate production connected to the print fulfilment through the appointed third party printing company
  • The client was required to approve the format and content of letters and cheques via a tool provided by Exasoft

Payment Protection Insurance Audit

We were engaged by the UK arm of a multi-national bank to review and audit their internal Payment Protection Insurance (PPI) calculators. This project involved the ...  read more.. Payment Protection Insurance Audit

company reproducing the banks calculation methodology to include loan calculations within our own calculation engine and related tools.  The objective was to provide comparison information between internally produced results and those produced by Exasoft to validate internal results. 

Some of the activities undertaken during this project were:

  • The bank had been using spreadsheets as part of their calculation processes. The bank compared these results with those generated by the Exasoft system
  • We ensured that the results provided from the internal processes employed by the bank were in line with PS10/12
  • We produced reports on our findings for the bank

We have now undertaken two similar reviews for this client.

 

 

Payment Protection Insurance Audit

We were engaged by the UK arm of a multi-national bank to review and audit their internal Payment Protection Insurance (PPI) calculators. This project involved the company reproducing the banks calculation methodology to include loan calculations within our own calculation engine and related tools.  The objective was to provide comparison information between internally produced results and those produced by Exasoft to validate internal results. 

Some of the activities undertaken during this project were:

  • The bank had been using spreadsheets as part of their calculation processes. The bank compared these results with those generated by the Exasoft system
  • We ensured that the results provided from the internal processes employed by the bank were in line with PS10/12
  • We produced reports on our findings for the bank

We have now undertaken two similar reviews for this client.

 

 

Regulated Product Compliance Audit

The company was engaged by a UK bank to undertake a recalculation exercise concerning regulated products that were deemed to have breached CCA rules. The project ...  read more..Regulated Product Compliance Audit

involved the creation of data load scripts, batch processes and wizards to review these calculations with the potential to pay redress due for the periods of failure.

Some of the activities undertaken during this project were:

  • Onsite consultancy and project management during the technical analysis and evaluation phase of the project
  • Software development to accommodate some of the clients requirements surrounding the format of results
  • Installation of software for batch processing connected to the Bank's internal systems and infrastructure
  • Working with the client's finance and audit teams as well as other third party suppliers
  • Creation of letters and statements containing the results of the calculations for dispatch to the bank's customers

Regulated Product Compliance Audit

The company was engaged by a UK bank to undertake a recalculation exercise concerning regulated products that were deemed to have breached CCA rules. The project involved the creation of data load scripts, batch processes and wizards to review these calculations with the potential to pay redress due for the periods of failure.

Some of the activities undertaken during this project were:

  • Onsite consultancy and project management during the technical analysis and evaluation phase of the project
  • Software development to accommodate some of the clients requirements surrounding the format of results
  • Installation of software for batch processing connected to the Bank's internal systems and infrastructure
  • Working with the client's finance and audit teams as well as other third party suppliers
  • Creation of letters and statements containing the results of the calculations for dispatch to the bank's customers

Mortgage Advice Complaint

The company was processing a customer complaint which was felt likely to be upheld by the Financial Ombudsman Service (FOS). The nature of the complaint surrounded ...  read more..Mortgage Advice Complaint

inappropriate advice having been provided when arranging a mortgage.  The adviser had recommended that the customer took an interest only loan supported by an endowment policy.   The client subsequently believed that they should have taken a capital and interest repayment loan.  A decreasing term assurance policy premium of £19.18 was obtained to assist in the loan recalculation.

The loan term was originally over 24 years which commenced on the 12th December 1988 with an advance of £70,000 and an endowment premium of £100.33.  The customer had moved to another lender on the 6th October 1992.  At this time an increase to the endowment premium was required to £115.33 due to a potential shortfall.  There had been a number of interest rate changes during the term of the loan.  A surrender value of £55,479.22 was obtained in respect of the endowment policy on the 2nd July 2012.

The above information was entered into the Exasoft Calculation Engine in two parts.  The first part related to the original lender and loan scheme terms.  The second part concerned the subsequent lender and the loan terms then applicable.  In addition the interest rate changes were included. The system then compared the actual loan terms to a recalculation of the loan had it been originally placed on a Capital & Interest basis along with the decreasing term assurance policy.  This showed a Redress amount due to the customer of £13,211.66.

Mortgage Advice Complaint

The company was processing a customer complaint which was felt likely to be upheld by the Financial Ombudsman Service (FOS). The nature of the complaint surrounded inappropriate advice having been provided when arranging a mortgage.  The adviser had recommended that the customer took an interest only loan supported by an endowment policy.   The client subsequently believed that they should have taken a capital and interest repayment loan.  A decreasing term assurance policy premium of £19.18 was obtained to assist in the loan recalculation.

The loan term was originally over 24 years which commenced on the 12th December 1988 with an advance of £70,000 and an endowment premium of £100.33.  The customer had moved to another lender on the 6th October 1992.  At this time an increase to the endowment premium was required to £115.33 due to a potential shortfall.  There had been a number of interest rate changes during the term of the loan.  A surrender value of £55,479.22 was obtained in respect of the endowment policy on the 2nd July 2012.

The above information was entered into the Exasoft Calculation Engine in two parts.  The first part related to the original lender and loan scheme terms.  The second part concerned the subsequent lender and the loan terms then applicable.  In addition the interest rate changes were included. The system then compared the actual loan terms to a recalculation of the loan had it been originally placed on a Capital & Interest basis along with the decreasing term assurance policy.  This showed a Redress amount due to the customer of £13,211.66.

Debt Consolidation Complaint

The client company had received multiple complaints surrounding historic debt consolidation advice.  These complaints had yet to be referred to the Financial ...  read more..Debt Consolidation Complaint

Ombudsman Service (FOS).  The company wished to accurately assess these complaints by enhancing their Complaints Handling Service using the Exasoft calculation toolkit.  The complaints concerned the suitability of the advice provided to include the total loan amounts consolidated, the level of new loan repayments and, where relevant, any extended loan periods.

The company initially produced calculations of the original loans that had been consolidated had they continued until the original completion date(s).  They then calculated the consolidated loan based upon the applicable terms and loan period.   A comparison between the two allowed the company to decide whether the advice had been appropriate and if not what level of reimbursement or compensation may be due to the client.

These calculations were undertaken on a case by case basis to take into account the individual circumstances of each client.  This allowed the company to reach resolution with clients quickly and accurately prior to any formal complaints process commencing, avoiding the need to involve the Financial Ombudsman Service (FOS).

Debt Consolidation Complaint

The client company had received multiple complaints surrounding historic debt consolidation advice.  These complaints had yet to be referred to the Financial Ombudsman Service (FOS).  The company wished to accurately assess these complaints by enhancing their Complaints Handling Service using the Exasoft calculation toolkit.  The complaints concerned the suitability of the advice provided to include the total loan amounts consolidated, the level of new loan repayments and, where relevant, any extended loan periods.

The company initially produced calculations of the original loans that had been consolidated had they continued until the original completion date(s).  They then calculated the consolidated loan based upon the applicable terms and loan period.   A comparison between the two allowed the company to decide whether the advice had been appropriate and if not what level of reimbursement or compensation may be due to the client.

These calculations were undertaken on a case by case basis to take into account the individual circumstances of each client.  This allowed the company to reach resolution with clients quickly and accurately prior to any formal complaints process commencing, avoiding the need to involve the Financial Ombudsman Service (FOS).

Remediation Project

The company was asked to become involved in a major provisioning project as part of a potentially large remediation situation.  The instructing client was a ...  read more..Remediation Project

multinational bank who required Exasoft to review 250 thousand individual cases which involved assessing in excess of 1.25 million transactions. Our consultants initially worked closely with the banks staff that had been tasked with undertaking this review in order to fully understand the banks requirements and ensure that the outcome of the project was accurate and delivered within preset timescales. The initial phase of the project involved uploading all relevant case data in preparation for the review using components specifically developed by the company to facilitate our bulk processing and fully managed services. This data required validation in preparation for undertaking the calculations.  The bank required that the cases be run on two occasions in differing reporting quarters for comparison purposes.  On each occasion this took place over a weekend with results being delivered to the bank on the first working day of the following week.  The output allowed the bank to accurately understand and report on the provisioning requirements for the cases reviewed.

Remediation Project

The company was asked to become involved in a major provisioning project as part of a potentially large remediation situation.  The instructing client was a multinational bank who required Exasoft to review 250 thousand individual cases which involved assessing in excess of 1.25 million transactions. Our consultants initially worked closely with the banks staff that had been tasked with undertaking this review in order to fully understand the banks requirements and ensure that the outcome of the project was accurate and delivered within preset timescales. The initial phase of the project involved uploading all relevant case data in preparation for the review using components specifically developed by the company to facilitate our bulk processing and fully managed services. This data required validation in preparation for undertaking the calculations.  The bank required that the cases be run on two occasions in differing reporting quarters for comparison purposes.  On each occasion this took place over a weekend with results being delivered to the bank on the first working day of the following week.  The output allowed the bank to accurately understand and report on the provisioning requirements for the cases reviewed.