We work with the majority of the largest banks and credit card providers in the UK
Financial Services clients most frequently choose
- Debt Sale - an end to end debt sale service.
- Insolvency Management - decisioning and lifetime management of Individual Voluntary Arrangements (IVAs) and Bankruptcies through TIX and BKX.
- A fully outsourced debt recovery solution.
- PLATO - the award winning debt placement and management platform.
- Advisory services - consultancy projects to identify long-term improvement programmes and strategy recommendations.
- HeliX - the UK's unique data exchange for consumers in arrears.
Key themes for the sector
- The size of the debt market is increasing; there has been a 14% increase in debt placed with DCAs taking the total over the past year to £62 billion.
- Balances to be collected are smaller as a result of stricter credit controls and the emergence of short-term lending.
- TCF and regulatory agendas are the key focus over and above performance with cost pressures being less apparent.
- A number of sellers have expressed concern regarding purchasers' handling of compliance post-sale to the extent that sales have been delayed or pulled from the market. This trend is following the US market where tighter regulations from the CFPB have caused some creditors to cease sale activity.
- E-strategies in collections are gaining in popularity as a result of improved performance, reduced costs and satisfying customer contact requirements.
- Over £10 billion of debt is predicted to be sold in 2015 with continued increase in prices towards pre credit-crunch levels.
Since 2004 we have worked with the majority of the UK's leading financial services providers, including eight of the ten largest banks and credit card suppliers, giving us unrivalled understanding of the sector and its needs. Now more than ever, no matter what the debt management challenge is, information-based credit risk strategies are needed. An analytically driven strategy based on customer segmentation and market intelligence will achieve both the best returns and compliance to regulatory standards by avoiding an ineffective and inappropriate ‘one size fits all' approach.