The new system aims to simplify the entire journey, from the notice that a customer has died, to identifying their accounts, releasing any funds held, and closing the case.
The partnership with Scottish Building society will help pilot a solution to connect legal services to Financial Institutions radically simplifying the process of exchanging and validating information. The Scottish Building Society partnership will help inform the design concept and, following the pilot, aim to form a universal solution that not only improves the current process but also adds real value.
Paul Denton, Chief Executive of Scottish Building Society, said: “We welcome this opportunity to partner with Exizent on a platform to simplify the process and ease the burden on families. Our experience of dealing with customers at a time of deep personal grief, combined with Exizent’s revolutionary technology, offers a potential solution for the wider UK financial sector.”