Compliant management services for a leading motor finance provider
When one of the UK’s leading sub-prime motor finance providers took the decision to close its loan operation, they required an outsourcing partner to provide specialist support to manage their complaints and disputes arising from the operation closure.
With insufficient internal resource and specialist expertise to administer customer complaints to the required standard and timescales, our client identified the need for a more rigorous and controlled closure process.
Our client’s need to mitigate risk and satisfy the regulator made them turn to us. Having previously worked with us as its loan administration software provider, we already had an in depth understanding of their business model.
Our existing relationship with our client meant that we already had a comprehensive insight into their customer base and loan portfolio. Our servicing team met with the existing customer complaints team and carried out a comprehensive process mapping exercise. All existing complaints were migrated over and a dedicated complaints management team set up for processing all new complaints.
Working with us ensured our client with:
- Continuity of customer services enabling the client to meet all regulatory requirements.
- A clearly defined services providing control and risk mitigation over the complaints handling process
- Reduced risk and reliance on key individuals through our flexible resource and up-skilling.
The complaints service that we have delivered has been consistently strong, timely and cost effective.
Mortgage & Loan Servicing Solutions
Find out more about Target's Mortgage & Loan Servicing Solutions solutions