Periodic Reporting for period 1 - Cortx (Intelligent debt recovery platform.)
Reporting period: 2019-07-01 to 2019-12-31
We are developing intelligent data extraction, analytics and transmission software platform for the consumer insolvency and debt recovery industry. It is the first platform to offer a full range of data solutions to Creditors, Creditor Management and Insolvency Practitioner firms to transform the management of their debt portfolios.
Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far
The focus of this Horizon 2020 feasibility study was to assess both the technical and commercial readiness of the platform and identify the steps needed to bring it full commercialisation. Through a sequence of deep-dive explorations with key customers groups, industry stakeholders and regulatory bodies, this study enabled significant progress to be made in both the technical and commercial development aspects of the business. The most notable advancements being the diversification and expansion of the addressable markets and customer base for the technology offering, as well as a better understanding of customer’s core challenges and the refinement and augmentation of the platform’s technology to satisfy these.
Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)
The results have culminated in the formation of a robust commercialisation and expansion strategy which will bring transformative change to the debt administration industry on an international scale. The potential impact of which is that consumer default rates will be drastically reduced, the money recovered by creditors and administering firms increased, and ensure that the consumer is protected in the best possible way and successfully reaches a debt resolution.