Target wins new Park Motor Finance loan servicing contract
Target Loan Servicing has won a significant contract to service
loans for Park Motor Finance, a wholly-owned subsidiary of Credit
Suisse. The loan portfolio contains approximately £80 million
of motor loans for 20,000 customers. This new service
contract will secure up to 50 jobs in Newport, South Wales.
Commenting on the announcement, James
Snow, Chief Executive Officer for Target Loan Servicing said
"Target Loan Servicing will secure up to 50 jobs from Park Motor
Finance to complement our existing team to deliver this new
service. It will operate from our modern operations centre
near Newport."
"Efficient customer and loan servicing,
and proactive risk and arrears management are key objectives for
our clients. We offer a highly specialist service with an
experienced team coupled with Target Group's market-leading loan
management systems. This enables us to be very good at realising
the value of loan portfolios for our clients" he added.
This announcement follows recent
outsourcing contract wins for Target Loan Servicing for Picture
secured loans and for Ecclesiastical Insurance to service its
mortgage portfolio.
Target Group is a leading expert provider of services and
software solutions to the consumer finance, commercial finance and
general insurance markets. It employs approaching 300 staff
and has offices across the UK and in Australia. Its
headquarters are in Cardiff.
Published: 24 February 2009