TSB Bank plc has agreed an extended partnership with debt resolution system supplier Flexys Solutions.
Following a successful project to provide a digital solution for TSB customers to manage Bounce Back Loan Scheme (BBLS) repayments and Pay As You Grow (PAYG) options, Flexys will continue working with TSB to deliver ongoing support to business customers.
BBLS formed the backbone of support for British businesses that saw their revenue disrupted during the COVID-19 pandemic. Figures show that £47bn of loans were made available to 1.67m SMEs across the UK. BBLS had a six-year fixed term with the option to extend up to ten years. The digital solution supplied by Flexys enables TSB customers to conveniently manage their loan over the full term, helping them make informed decisions about which options, if any, are appropriate for them.
Flexys CEO, James Hill, said:
“It has been rewarding to work with the TSB team to provide their customers with a highly responsive and easy-to-use digital journey to manage their BBLS loans. This agreement continues the spirit of cooperation and builds on the mutual objective of delivering the very best service to customers when they need it most.”
Adeel Hyder, Business Banking Director at TSB shared, “We are delighted to continue our partnership with Flexys to provide our customers with what they have told us is an easy to understand and use solution. We worked together at pace with Flexys to be the first bank to bring this innovative way to manage the government’s Pay As You Grow options on Bounce Back Loans to our customers.”