What is HubSolv?
HubSolv is a UK-based software platform used by insolvency practitioners and debt advice firms to manage cases and client communications. It streamlines workflows for Individual Voluntary Arrangements (IVAs), debt management plans, and other insolvency processes. HubSolv integrates with open banking tools to help practitioners verify client income and expenditure efficiently.
Who uses HubSolv in the UK?
HubSolv is used primarily by FCA-regulated debt advice firms and licensed insolvency practitioners across the UK. Its case management tools cover the full lifecycle of debt solutions, from initial client intake through to arrangement completion. The platform is designed to comply with FCA conduct standards and Insolvency Service regulations.
How does open banking relate to HubSolv?
HubSolv and similar insolvency platforms have incorporated open banking to replace paper-based income and expenditure (I&E) assessments. By connecting to a client’s bank account via an FCA-regulated AISP, practitioners can instantly access categorised transaction data — making affordability assessments faster, more accurate, and more consistent with FCA guidance on vulnerability and consumer duty.
Open Banking in Practice: The use of open banking in insolvency and debt advice is growing rapidly in the UK. The FCA’s Consumer Duty (effective July 2023) encourages firms to use richer data sources — including open banking — to assess client vulnerability and tailor solutions. The Payment Systems Regulator (PSR) also supports the use of open data to improve financial outcomes. Read our guide to open banking in debt advice on openfuture.world.
FAQ
Is HubSolv regulated by the FCA?
HubSolv is a software provider; the firms using it must hold appropriate FCA authorisation for the debt advice or insolvency services they deliver.
Can clients see their own data on HubSolv?
Access depends on the firm’s configuration; many firms use HubSolv to generate client-facing income and expenditure statements.
Does open banking make insolvency assessments more accurate?
Yes — real-time transaction data via open banking provides a more complete picture of income and spending than self-reported figures.