Using advanced analytics to identify vulnerable residents and deliver targeted support, leading to increased debt collection and improved health and wellbeing.
Improving financial inclusion and reducing debt in the London Borough of Barking and Dagenham
CASE STUDY
Heading 1 Improving financial inclusion and reducing debt in the London Borough of Barking and Dagenham
Heading 1 THE RESULTS
Introduction Heading 2 Heading 3 Intro text Body copy Bullets 1. Numbered bullets £75K additional (compared to counterfactual) reduction in debt over 4 months (annual projection £223k). 127 different interventions delivered to vulnerable residents versus five interventions to a predefined counterfactual. SIGNIFICANT INCREASED ENGAGEMENT INCREASED DEBT COLLECTION
Introduction Heading 2 Heading 3 Intro text Body copy Bullets 2. Numbered bullets 69% Improved targeting of the cohort has the potential to lift the additional debt reduction by 69%. INCREASED DEBT COLLECTION Wider benefits Significant, measurable impact on wider risk factors (13 out of 14 categories or risks), including for example: Double the number of people (60%) showing an improvement in emotional health and wellbeing compared to the counterfactual (29%). Four times the number of people (23%) showing an improvement in domestic abuse compared to the counterfactual (6%).
Introduction Heading 2 Heading 3 Intro text Body copy Bullets 1. Numbered bullets Insight driven, targeted support enabled by Xantura for four months to vulnerable residents with debt using the Homes and Money Hub in the London Borough of Barking & Dagenham. The cost-of-living crisis has further exacerbated financial exclusion and rising debt The direct effect of debt on residents is often detrimental. Personal debt is associated
Introduction Heading 2 Heading 3 Intro text Body copy Bullets 2. Numbered bullets Identifying people vulnerable to the negative effectives of debt Working with Barking & Dagenham and through the use of advance analytics, we built a predictive model that helps the authority identify people vulnerable to the negative effects of debt and offer them support before they reach crisis point. This insight-led service transformation has advanced the borough’s data maturity and has driven a more joined up response across service silos.
Introduction Heading 2 Heading 3 Intro text Body copy Bullets 3. Numbered bullets Significant increased engagement, increased debt collection and wider benefits to the health and wellbeing of vulnerable residents Taking a holistic view of debt, facilitated by Xantura’s OneView system, allowed Homes and Money (HAM) Hub staff to identify vulnerable residents with debt and deliver support services. This has enabled Barking & Dagenham to be a leading authority in debt management, with increased debt collection and lower negative outcomes associated with overwhelming debt.
with physical ill-health, suicide, anxiety, stress, and clinical depression,
independent of the effects of poverty. It can contribute to family breakdown and also has negative effects on labour market outcomes.
[Barking & Dagenham] was ahead of the game in developing its OneView system to take a holistic view of all the factors that contribute to their residents’ financial wellbeing. This is something that we in central government were just starting to think about. [Barking & Dagenham] has demonstrated its expertise and is now considered to be a vital stakeholder and critical friend to central government as we try to replicate their success. Deputy Director, Government Debt Management Function & FEDG Central Team, Cabinet Office
Xantura’s OneView offer is a unique combination of service transformation methodology and class-leading analytics and data management platform. The approach and platform are now central to the council’s data maturity and wider transformation strategy. Equally impressive is Xantura’s obvious passion to improve outcomes for our vulnerable residents. Pye Nyunt – Head of Insight and Innovation, Strategy and Participation
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CONTACT US
Danny Sperrin Partner
E: daniel.sperrin@newtonimpact.com
E: wajid.shafiq@xantura.com Wajid Shafiq CEO - Xantura
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