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Financial Hardship Assistance Done Right. For Customers and for Compliance.

Every collections team deals with customers in financial difficulty. The question is whether your process protects those customers and your business or exposes both to risk. 365 Collect provides a structured, auditable framework for managing financial hardship from the moment a customer raises difficulty through to resolution.
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The Regulatory Landscape

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Regulators across financial services markets require credit licensees to identify customers experiencing financial difficulty, respond within defined timeframes, and document every decision. The obligations vary by jurisdiction, but the expectation is consistent: a process that is fair, timely, and auditable.

 

Getting this wrong has consequences. Regulatory action, formal complaints, reputational damage, and, most importantly, real harm to vulnerable customers. Getting it right requires a process that’s consistent, documented, and repeatable regardless of who handles the case.

 

365 Collect builds that process into the platform, configurable to the specific regulatory requirements of your market.

Self-Service Financial Hardship Applications

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For many customers, the hardest part of seeking help is making the phone call. 365 Collect’s self-service portal lets customers apply for financial assistance online, describing their circumstances, providing their income and financial position, uploading supporting documents, and submitting at a time that suits them.

 

The result: structured data instead of handwritten notes from a phone conversation. Faster processing. Less emotional friction for the customer. And a complete, time-stamped record from the moment the application was submitted.

Guided Assessment

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When a financial assistance application lands, 365 Collect guides the assessor through a structured process. The customer’s full financial picture, income, assets, liabilities, and declared circumstances, is pre-populated from the portal submission and ready to review. A built-in evidence guidance matrix tells the assessor exactly what supporting documentation to request based on the customer’s situation.

 

SLA milestones are tracked automatically against the timeframes your regulatory environment requires. The assessor sees at a glance whether the assessment and decision deadlines are on track or at risk.

 

This consistency matters. Whether the application is handled by your most experienced assessor or your newest hire, the process is the same. The compliance outcome is the same. The customer experience is the same.

Flexible Outcomes

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Not every financial hardship case looks the same, and the response shouldn’t be one-size-fits-all. 365 Collect supports multiple outcome types:

 

  • Reduced repayments
  • Payment holidays
  • Modified payment arrangements
  • Referral to external support services

Each outcome type has configurable rules and approval workflows. Agents offer appropriate solutions within their authority limits. Anything beyond those limits routes to a manager for approval.