NTT DATA gets ready for Motor Finance redress windfall

NTT DATA continues to target opportunities in UK Financial Services with the launch of a new Digital Automated Remediation platform ahead of the establishment a potentially massive UK motor finance compensation scheme. With the UK Supreme Court reviewing the Financial Conduct Authority's hidden commission ruling, billions of pounds in redress payments could materialise, creating substantial demand for scalable remediation infrastructure.

The partnership with Lightico and WSN Consulting delivers a comprehensive tech-and-ops model building on NTT DATA's Payment Protection Insurance (PPI) remediation experience. The platform's AI-driven document processing and customer journey orchestration addresses the core operational challenges of high-volume claims management while maintaining regulatory compliance.

The solution's API-first architecture and human-in-the-loop workflows position it well for rapid deployment across multiple financial institutions. However, success will depend heavily on the Supreme Court's decision timeline and scope.

NTT DATA's established Business Process Services (BPS) capabilities should also provide delivery credentials, though competitive pressure from established remediation specialists will be intense. The platform's differentiation lies in its digital-first approach, potentially reducing per-claim processing costs significantly compared to traditional manual methods.

Posted by: Marc Hardwick at 09:19

Tags: Finance