Financial Hardship wizard

Case Study: Bravura Solutions – Financial Hardship Wizard

Overview

Bravura Solutions developed the Financial Hardship Wizard as a digital self-service tool to help financial institutions provide compliant, efficient, and compassionate support to customers experiencing financial stress. This tool is part of Bravura's broader digital engagement and wealth management suite and was created in response to increasing demand for streamlined, customer-centric hardship assistance.

The Challenge

Financial institutions were under pressure to manage growing volumes of hardship requests in a timely and empathetic way. Traditional support methods were heavily reliant on manual processing, lengthy phone calls, and in-branch interactions. These approaches were time-consuming for both customers and service teams and often failed to meet evolving regulatory expectations around consumer protection and transparency.

Bravura identified the need for a digital solution that could automate the hardship assessment process while remaining flexible, secure, and compliant.

The Solution

Bravura introduced the Financial Hardship Wizard, a fully digital and guided experience that empowers customers to communicate their financial situation and access available support without needing to speak with a representative. The tool enables financial providers to respond more quickly and consistently to hardship requests while meeting regulatory requirements.

Key Features

Intelligent Guided Workflow
Customers are guided through a responsive questionnaire that collects key details including:

• Type and reason for financial hardship such as job loss, illness, or market changes

• Current income, expenses, and household information

• Estimated duration and the impact of their financial situation

Seamless Document Upload
The wizard allows users to securely upload supporting documents such as medical bills, termination letters, or financial statements. All files are managed within Bravura’s enterprise platform.

Real-Time Eligibility Assessment
Built-in business rules check eligibility for a range of support options including:

• Payment deferrals

• Loan restructuring

• Fee waivers

• Government or institution-backed assistance programs

Personalized Results and Submission
Based on the information provided, the wizard generates tailored recommendations and next steps. Users can either submit their hardship request directly or opt to schedule a call or request a callback from a specialist.

Modular and Configurable Design
Built on Bravura’s low-code platform, the wizard can be configured to support various financial products such as mortgages, pensions, or superannuation. It can also be localized and branded to suit individual institutions.

Security and Compliance by Design
The tool was built in line with Bravura’s enterprise-grade standards, offering:

• End-to-end data encryption

• Secure login and authentication

• Detailed audit trails for compliance and reporting

Results and Benefits

For Customers

• Access hardship support anytime, from any device

• Avoid wait times and in-person appointments

• Gain clear guidance and reassurance through a user-friendly, empathetic interface

For Financial Institutions

• Reduce workload on frontline staff by automating assessments

• Deliver consistent and compliant hardship assistance

• Strengthen customer trust and loyalty during vulnerable times

Conclusion

The Financial Hardship Wizard is a powerful example of how digital tools can humanise and streamline complex processes. By combining smart automation with empathy-driven design, Bravura Solutions has enabled financial providers to better serve their customers while improving operational efficiency and compliance outcomes.