A South Wales fintech firm is combining artificial intelligence with digital affordability assessments in a bid to make it easier for people experiencing financial difficulties to deal with creditors.
IE Hub, which is based in South Wales, has partnered with Mega AI to develop ELLIE, a new system designed to reduce the need for customers to repeatedly explain their financial circumstances through lengthy telephone-based affordability assessments.
The technology is expected to launch in the final quarter of 2026, with the companies already working with creditors on potential pilot schemes.
IE Hub operates an online budgeting platform which allows people to record their income and expenditure, manage their outgoings and securely share affordability information with creditors.
Its new partnership with Mega AI will combine that infrastructure with conversational AI, allowing customers to discuss their circumstances digitally and potentially agree appropriate repayment arrangements.
A central feature is what the companies describe as a “tell us once” approach.
Rather than completing separate affordability assessments with multiple organisations, customers can maintain their financial information through IE Hub and choose which creditors they share it with.
Where an assessment has not already been completed, ELLIE can guide the customer through a shorter income and expenditure process before using the information, alongside a creditor’s own policies, to determine potential next steps.
The system will also integrate with the Vulnerability Registration Service, allowing creditors to identify indicators of vulnerability earlier and refer customers to specialist support where appropriate.
The companies say human support will remain available where it is required.
For creditors, the technology is intended to reduce the amount of staff time spent carrying out routine affordability assessments while enabling specialist teams to concentrate on customers requiring greater support.
Gareth Llewelyn, Chief Commercial Officer at IE Hub, said:
“Affordability assessments are incredibly important, but the way the industry carries them out can still be time-consuming for creditors and frustrating for customers.
“ELLIE brings together the best of digital affordability and conversational AI. Customers shouldn’t have to spend 30 or 40 minutes repeatedly explaining their financial circumstances to different organisations.
“Our ambition is simple: use technology to make the process quicker and easier, while making sure customers who need additional support are identified and receive it.”
Martin Nielsen, Senior Vice President at Mega AI, said:
“AI has the potential to improve how organisations manage affordability conversations.
“By combining Mega AI’s conversational technology with IE Hub’s affordability infrastructure and expertise, ELLIE can deliver intelligent, personalised conversations at scale while ensuring customers can always access human support when needed.”
ELLIE is scheduled for launch in Q4 2026.
