The Insolvency Exchange (TIX)
Insolvency and bankruptcy management
The TIX platform delivers operational efficiency and transparency across the TIX process<br>
The platform is underpinned by our people and expertise in managing debt.<br><br>
<b>Engagement with all areas of the Insolvency sector</b><br>
* Team of three impartial Insolvency Practitioner Managers with a combination of 30 years of debt services experience focused on customer outcomes and performance. <br>
* Proprietary IP Scorecard drives market competition and quality via 30 Performance Indicators. <br>
* Strong relationships with Regulators and the Insolvency Service. <br>
* Monthly face-to-face industry updates, sharing knowledge, insights and recommendations. <br><br>
<b>Holistic framework resolves exceptions and underperformance</b> <br>
* Utilises all available data assets to take a holistic approach to performance management. <br>
* Enables focus on high value actions that drive performance. <br>
* Dedicated reconciliation team keeps account performance on-track throughout the lifecycle. <br>
* Multifaceted reconciliation logic reduces the reliance on one data source, mitigating risk. <br><br>
<b>Combined analytics capability and IP governance provides detailed insight</b> <br>
* Insolvency volumes and trend analysis. <br>
* Liquidation forecasting. <br>
* Insolvency demographics. <br>
* Plan performance. <br>
* Income and expenditure. <br>
* IP performance.<br><br>
<b>Using our broader voting influence, we deliver a dividend rate uplift</b> <br>
* Over the last 12 months, we have driven an average uplift of 7%<br>
* This is achieved by reviewing consumer circumstances and contributions to ensure they are within guidelines. <br>
* We also review IP fees, reducing them by an average of £114 per case over the last 12 months<br>
Benefits
Reduce operational overheads
Significantly reduce the amount of paper-based internal processes to save time, resources and operational overheads.
Improve sustainability and fair treatment
Consistent case level decisioning to ensure improved customer outcomes and fair treatment.
Improve visibility of cases and enable effective exception management
User-friendly system with a decision engine and query functionality which links lenders, debt purchasers and insolvency practitioners to enable fast resolution of case exceptions.
Improve liquidation and value
By proactively managing the case, dealing with exceptions and working closely with IPs and trustees we ensure that creditors benefit from faster and regular distributions to speed up and increase their returns.
Key Features
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Request Proof of Debt (POD) Full visibility of Proof of debt (POD) and statement requests/responses, plus the ability to upload statements.
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Download POD & Proxy letters View and download proxy and proof of debt letters.
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Raise and respond to queries Visibility of accounts and cases in query, plus the ability to provide responses and case updates.
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Process Notice of Assignments Online notification of assignment, with the ability to download & upload assignment responses.
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Raise funds Full visibility of audit trail of Insolvency Practitioner (IP) refund requests.
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View Case Information Real time view of case information held at TIX.
Use Cases
For the management of
- IVAs
- Bankruptcies
- Sequestrations
- Trust deeds
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