Equifax UK, a leading credit information provider and data analytics firm, has launched an innovative digital customer onboarding journey tailored to assist telecom and utility providers with assessing customer eligibility for social tariff discounts.
This new solution, called Tariff Connect, is aimed at easing the application process for customers and enabling quicker access to discounts and specialised pricing for households facing financial hardship, according to FF News.
The introduction of Tariff Connect comes in response to growing affordability pressures that many UK households are experiencing due to rising living costs.
Both policymakers and regulators have increased focus on supporting financially vulnerable consumers, highlighting the need for streamlined processes that help individuals facing difficulty access critical cost-of-living assistance.
Equifax UK’s Financial Health Report indicates that although macroeconomic conditions may be stabilising, many low-income households are still struggling with essential expenses, especially in sectors like energy where costs have remained high since pre-pandemic times.
Equifax UK provides a wide range of data solutions to help businesses better understand and serve their customers.
By leveraging robust data analytics and credit information, Equifax UK supports firms across various sectors in making informed decisions on lending, customer engagement, and risk management, with a particular emphasis on enhancing customer accessibility and affordability.
The newly launched Tariff Connect solution is designed to automate social tariff eligibility checks using Open Banking technology, replacing traditional manual documentation with a seamless digital journey.
Through an easy-to-navigate application form, customers can now have their eligibility for social tariffs verified within minutes, significantly reducing the current process, which often takes several weeks. Additionally, Tariff Connect enables providers to regularly assess consumers’ eligibility, ensuring continued support for those whose financial circumstances may change.
Equifax UK’s Tariff Connect also aims to support providers in meeting regulatory obligations to assist vulnerable consumers through the ongoing cost-of-living crisis.
The automated solution could enhance operational efficiency for companies, allowing them to deliver discounts, forbearance options, and other supportive measures at scale, which are vital as affordability challenges persist across the UK.
Equifax’s Chief Strategy and Innovation Officer, Craig Tebbutt, said, “The economic backdrop may have improved but beneath the surface cost of living pressures remain high and domestic bills will be a particular concern for many. With nearly 6.4 million people in the UK relying on Universal Credit, the need for accessible social tariffs is greater than ever. Customers currently have to fill in paperwork and send postal evidence to prove their eligibility for bill discounts and payment holidays, which can be both confusing and time-consuming.
“The launch of Tariff Connect simplifies access to social tariff rates for those facing financial difficulty and reflects our commitment to leveraging technology to drive positive social impact. This seamless digital journey provides a fast and efficient way for people to unlock the fairer, inclusive tariffs they need to live their financial best.”
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