Financial services

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.
• A fully outsourced debt recovery solution.
• PLATO - debt placement and management platform.
• Advisory services - consultancy projects to identify long-term improvement programmes and strategy recommendations.

Key themes for the sector:

• Although indebtedness is increasing, balances to be collected are smaller as a result of stricter credit controls.
• TCF and regulatory agendas are the key focus with creditors.
• When it comes to debt sale, some creditors / 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.

Our experience

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.