AperiData teams up with Qualco UK to improve financial wellbeing via Togglit app

UK-based Open Banking credit bureau AperiData has formed a strategic partnership with debt resolution platform Qualco UK to help consumers better manage debt, understand affordability and improve their overall financial wellbeing via Qualco’s Togglit app.

The new partnership combines “advanced Open Banking insights and ethical collections technology to transform how consumers manage and share their debt position to regain financial stability”, according to AperiData.

Through the collaboration, Togglit’s self-service customer portal is now “enhanced” by AperiData’s real-time data insights to enable more informed affordability assessments and personalised repayment plans.

Individuals can use Togglit’s self-service portal to manage their debt using tools such as ‘Budget Planner’ and ‘Instalment Plans’.

The Togglit app, which can be appointed by a consumer’s account provider, is designed to help individuals manage and clear their balances, while supporting long-term financial wellbeing, and is positioned as an alternative to traditional debt collection agencies.

“We have an established platform that enables customers facing financial challenges to manage their outstanding balances at a pace that suits their individual circumstances,” said James Goddard, director of product at Togglit, Qualco UK.

“Through our collaboration with AperiData, our Budgeting feature has been enhanced to ensure every financial plan is informed by accurate and current data, thus promoting fairness and minimising the potential for additional hardship.”

In a post on LinkedIn, AperiData stated: “We’re proud to be working with Qualco and their Togglit platform. They are an organisation that shares our belief in innovation and delivering better consumer outcomes.

“By blending ethical technology with real-time data, AperiData and Togglit are paving the way for a more supportive, inclusive, and consumer-first financial ecosystem.”

Further reading: NatWest selects five UK fintechs for its new Growth Programme