Business Process Outsourcing

Outsourcing lending, investment and remediation processes to enable financial services providers to focus on core activities, reduce risk and enter new markets quicker

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Market pressures fuelling business process outsourcing

As markets become increasingly competitive, and as risk and compliance pressure increases, financial services providers are increasingly looking to outsource their servicing processes. Such outsourcing of key activities enables those providers to:

  • Bring new products to market quickly, avoiding typical barriers to entry
  • Reduce commitment and capital outlay when testing new markets and propositions
  • Mitigate risk factors, especially in new products and markets

With economic and market uncertainty comes risk aversion, but without any lessening in pressures to improve performance. Providers are being forced to rethink propositions and business models, with the aim of standing out in a market under disruption from digital and direct entrants.

For businesses moving into new markets, partnering with a business process outsourcer can help to keep market entry costs low by reducing fixed expenditure in staff, IT systems and premises, along with avoiding significant investment in key servicing infrastructure. The assurance of predictable costs, as well as being able to leverage a regulated servicer to handle regulatory challenges, places the provider in a strong position.

Our business process outsourcing services

Loan and Mortgage Servicing

While you focus on your core proposition we deliver comprehensive loan servicing to support the full loan lifecycle, from origination, through account servicing to arrears management.

Loan and mortgage servicing - find out more

Collections and Arrears Management

We deliver the full lifecycle of collections and arrears services to UK lenders for more than £23bn AUM, including commercial, buy-to-let and residential mortgages, secured and unsecured loans.

Collections and arrears - find out more

Investments Administration

We deliver back office investment administration services for structured products, wrappers and child trust funds across the lifecycle from origination and servicing through to maturity.

Investments administration - find out more

Child Trust Fund Servicing

Outsourcing enables providers to scale up their CTF service, and give this difficult to serve demographic the slick customer journey they demand.

Child Trust Fund servicing - find out more

Junior ISA Servicing

Providing an omni-channel, digital-first and always on service for Junior ISA customers is critical for both customer attraction, and retention.

Junior ISA servicing - find out more

Remediation and Complaints Servicing

We can provide the expertise, robust management and governance to enable you to quickly respond in line with regulatory requirements.

Remediation servicing - find out more
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Demands of the modern customer

With Generation Z about to enter the investments, loan and mortgage markets (if they haven’t already), providers are going to need to adapt to their very different demands. With Child Trust Funds and Junior ISAs, this and future generations are joining these markets in huge numbers, and sooner than ever before.

Rather than being tied up by sluggish legacy systems that stifle the customer experience, outsourcing the servicing of loans, mortgages, investments, remediation and complaints gives lenders the opportunity to adapt quickly, testing out new approaches to new markets, away from traditional servicing models.

Contact us today to discuss your company’s outsourcing needs

Business process outsourcing and operation transformation across lending, insurance, investments and saving

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Securing competitive advantage

In addition to ensuring compliance and easing administration, business process outsourcing can also help financial services providers to create and maintain a competitive advantage, even as the market moves quickly. Third party administrators are in a position to undertake multiple roles dependent on the lender’s requirements, including:

  • acting as a partner for closed or originating portfolios
  • standby servicing
  • managing defined processes in the customer lifecycle

By outsourcing these processes, lenders can devote more time and resource to developing propositions and driving business growth.

Read our Mortgage Servicing Case Study

Get in touch now to discover how Target can transform your outsourcing requirements. Call us on 0845 650 6200.