September 29, 2016
In a relatively short space of time the number of ISA wrappers available to investors has increased and therefore the level of complexity associated with each product has increased too.
September 29, 2016
As the dust continues to settle following Brexit, the economic landscape is at least becoming a little clearer. The Bank of England has acted by cutting the base interest rate, to a new historic low of 0.25%.
August 25, 2016
The result of the EU Referendum unleashed a wave of uncertainty as central banks, investors, spenders, savers and borrowers alike watched on to see how the result hit the economy.
August 24, 2016
Target Group, the financial services outsourcing and software provider, has welcomed the FCA’s confirmation that it has formally approved Target’s acquisition by Tech Mahindra, a global specialist in digital transformation.
August 21, 2016
The past month has seen momentous events unfold in Britain and for its European partners. Although the UK has undoubtedly entered a new era, negotiations may well not start for some time and political uncertainty is likely to dominate the country’s agenda for the foreseeable future.
August 9, 2016
TechMarketView, the software and IT services research company, has recently undertaken new research on Target Group.
August 2, 2016
We're delighted to have been shortlisted for The Payments Awards "Best online payments solution (consumer)" for our work with our client DVLA
July 13, 2016
The really pressing question for lenders now is what next following the Brexit vote?
July 5, 2016
Target Group, the financial services outsourcing and software provider which announced last month that it is to be acquired by leading global information technology specialist Tech Mahindra, has reported a third consecutive year of strong growth in its annual results.
June 15, 2016
Target Group, the financial services outsourcing and software provider, has signed a deal to supply its Bluechip Broker system to Specialist Financial Services, one of the leading UK specialist broker packagers of second charge, bridging and commercial finance.
June 12, 2016
The Expectation Gap in the UK Insurance Industry has revealed that 40% of consumers do not believe that insurers treat customers well
June 7, 2016
Target Group, the financial services outsourcing and software provider, today announces it has created over 250 new jobs. The planned expansion is a continuation of the firm’s strong performance in recent years and follows last week’s announcement of its acquisition by global multi-national specialist in digital transformation, Tech Mahindra.
May 27, 2016
The management team behind Target Group, the financial services outsourcing and software provider, has welcomed today’s announcement of the acquisition of the business by global multi-national specialist in digital transformation, Tech Mahindra. The transaction is subject to FCA approval; completion will take place once this is confirmed.
May 16, 2016
The confluence of an ageing UK population, house price inflation and new pension freedoms all point to the importance of finding solutions to the question of how our industry best lends into retirement.
May 13, 2016
We are extremely proud to announce that last night we were awarded "Best Credit Services Provider" at the 2016 Credit Today Awards in London.
May 11, 2016
The lending market looks to have entered another cycle over the past few years.
April 26, 2016
We’re delighted to kick of this edition with the fantastic news that we were named as ‘Best Credit Services Provider’ at the recent 2016 Credit Today awards.
April 19, 2016
Target Group, the financial services outsourcing and software business, has been appointed to provide standby servicing to Ratesetter one of the UK’s leading peer-to-peer (P2P) lending platforms. With the UK’s alternative finance market valued at £3.2bn, long-term resilience planning in what is a rapidly growing market is crucial.
April 14, 2016
Target Group, the financial services outsourcing and software provider has announced the integration of Twenty7Tec’s mortgage and secured loan sourcing software into the firm’s broker management system, ‘Bluechip’. The integration will mean LoanSource (Twenty7Tec’s secured loan sourcing system), and later MortgageSource (its mortgage sourcing system) will be available on the Bluechip platform, allowing users to conduct detailed analysis of the secured lending options available to them.
April 4, 2016
Whatever the outcome of June’s EU referendum, the consequences for financial services will be hugely significant.
April 4, 2016
As a result of continued growth, Target Group, the financial services outsourcing and software provider, today announces the appointments of Gurraj Bhachu and Thais Bottieri to further strengthen its team in Australia and New Zealand.
April 4, 2016
It has been a busy month in the financial services sector as ‘Brexit’ fever grips not just the industry, but the entire country.
March 23, 2016
As Insurers continue to push their digital agendas and consumers demand more personalised engagement and compelling relevant products, two important questions come to mind
March 17, 2016
Immediately after the global financial crisis our industry experienced a period of existential threat. The good news is – we still exist!
March 9, 2016
Target Group, the financial services outsourcing and software business, has been selected by Bridging and Development finance lender Pivot Finance to provide its Bluechip Lender system. The deal sees Target become the largest provider of systems to the Bridging Finance sector.
March 4, 2016
We catch up with Richard Thompson, Partner Portfolio Advisory Group at PWC
March 3, 2016
At Target we are constantly looking to assess the current state of financial services in the United Kingdom, helping to provide optimised services for our clients. As part of this assessment, we recently published our latest research around the changing UK lending market.
March 3, 2016
There are many positives in the Bank of England 2015 Q4 usage and lending data. Growth in net lending to SME’s is the fundamental objective of the FLS Extension and the data indicates that the scheme is succeeding. We also see growth in the participation of non-traditional lenders as encouraging because more competition will benefit SME’s.
February 24, 2016
Target Group is delighted to have been awarded runners up in the 2016 CICM British Credit Awards for the category of Consumer Collections Team of the Year. Our team enjoyed a brilliant evening celebrating all the nominees’ efforts throughout the year, as well as thanking them for their hard work on continually developing our solution.
February 18, 2016
It is fair to say that, as a breed, insurance intermediaries have long been the ‘Apple’ of the insurance market, offering innovative solutions, creative value added services and advice to their customers.
February 10, 2016
We caught up with Mike Newman, Director of Structured Products at Target Group, to understand a little more about the launch and the opportunities he sees in the marketplace
February 2, 2016
In a rapidly changing market giving your customers and shareholders peace of mind that you have a back up plan in place should the worst happen is essential.
January 22, 2016
Clearly there’s been a lot of change in this market, particularly in the tax treatment of Buy to Let landlords. The sector must be feeling a little groggy from the amount of change that it has had to plan for, particularly with amendments to the stamp duty and the landlords tax allowance
January 19, 2016
We’re delighted to have been shortlisted for Payments innovation of the year in the FS Tech awards alongside our client the DVLA. We delivered a solution that supported the launch of a Direct Debit payment facility of car tax. The process included initial Direct Debit set up, ongoing payment processing and provided information to their contact centre for customer enquiries.
November 24, 2015
Target Group, the financial services outsourcing and software provider, has signed a deal to supply its bridging lending system to Hope Capital Bridging Finance, the Liverpool based short-term property finance provider. Target Bluechip consists of a number of innovative software solutions which are designed for finance brokers and short term lenders, it is the largest supplier of systems to UK bridging lenders.
November 20, 2015
The FCA has recently initiated a review into competition in the mortgage sector as it’s clear that the current dynamic is not working at the optimum efficiency and consumers are losing out.
November 19, 2015
Target Group has today been highly commended for the ‘Best Debt/ Arrears Management Strategy’ category in the Mortgage Finance Gazette Awards 2015. The industry has acknowledged that lenders need to have effective arrears management processes in place to help customers with fall into debt. The ‘Best Debt/ Arrears Management Strategy’ category called for examples of innovative solutions that are helping customers in this way.
November 12, 2015
In our recent independent research, 56% of the market cited distribution as the greatest challenge and opportunity facing the insurance industry.
October 27, 2015
Introduced by National news presenter Natasha Kaplinsky, the video looks at developments in the banking industry and showcases how we help financial services businesses operate within a changing landscape.
October 23, 2015
Hartmoor Financial, a subsidiary of technology giant Target Group, is eager to snap up opportunities in the booming structured deposits market. Ross Trotman, head of structuring, talks about the UK annuity reforms and regulatory change
October 15, 2015
Our recent independent survey of insurance professionals found that 70% of respondents called for “significant investment” from their businesses in technology to drive distribution decision making. A further 56% testified that distribution is both their greatest opportunity and the biggest challenge they face.
October 8, 2015
We catch up with our Co-Group CEO's Bill and Ian
September 25, 2015
Target Group and Freedom Finance join forces to support the launch of ‘BumbleBee’ a new unsecured lender
Target Group, the financial services outsourcer, has today announced it has joined with Freedom Finance to support the launch of BumbleBee Loans Limited, a new unsecured lender. BumbleBee will offer unsecured loans to consumers initially through Freedom’s loan portal.
September 17, 2015
Target Group is appointed as servicer following the purchase of Barclays UK Secured Lending portfolio
We are delighted to announce that Target Group have been selected to provide Third party administration and customer services in support of the purchase of Barclays’ UK Secured Lending portfolio by a group, including Goldman Sachs, Elderbridge and Pollen Street Capital.
September 14, 2015
Since the financial crisis the banking industry has undergone a number of changes.
September 14, 2015
We catch up with Tony Ward, CEO Clayton Euro Risk
September 14, 2015
Target Group, the financial services outsourcing and software provider, has today announced it is creating over 100 new jobs in South Wales. The jobs will be based in Cardiff and Newport and will include roles in IT, customer services, collections and compliance. The vacancies are as a result of a number of significant contract wins for Target who with the new roles will now employ over 700 people across its 7 offices with 450 employees based in South Wales. The additional jobs will make Target a significant employer in the area.
August 26, 2015
Recent research undertaken by Target Group shows that consumers have not been well engaged by insurance companies to date; 85% of our respondents confirmed that they prefer to use the web when it comes to researching, buying or checking policies but that more than one in three find the experience “very confusing”.
August 12, 2015
The Equity Release industry has been one of the real success stories of the mortgage market over the past few years. We broke the billion barrier in 2013, set a new record of £1.4 billion in total lending last year and 2015 looks set to be yet another record-breaking 12 months.
August 12, 2015
Large organisations will generally generate significant quantities of raw data and information on a daily basis – this data can be a real asset to the business and when utilised properly it will support more informed decisions throughout a business; optimising or creating processes/systems, methodologies and opportunities.
August 11, 2015
Target Group, the financial services outsourcing and software provider, has today announced a number of changes to its Board, including the promotion of Ian Larkin and Bill Alley to the role of Co-Group CEO and the appointment of Paddy Byrne to the role of Chairman. Following another year of significant growth the Target Board has chosen to restructure the Board and governance to build on its achievements to date and to prepare the business for further growth in the future.
June 30, 2015
As talk in the media generally tends to focus on first-time buyers and London house prices, it’s easy to forget about the non-prime mortgage industry.
June 15, 2015
Target Group, the financial services outsourcing and software provider, has signed a deal to supply its Bluechip system to Wirral based Bridging Finance Solutions, the short-term property finance provider. Target will also provide Bridging Finance Solutions with several tailored system enhancements to meet the lender’s specific requirements, including system automation, smart document and statement production.
June 5, 2015
Mortgage Finance Gazette Lunch Club sponsored by Target “Innovation and choice in the non-prime mortgage market”
There is a demand for specialist lending but there is also a need for innovation in the various part of the market that the’ non-prime’ label covers.
June 3, 2015
We catch up with Geraint Thomas, Partner at Eversheds.
May 27, 2015
As talk in the media generally tends to focus on first-time buyers and London house prices, it’s easy to forget about the non-prime mortgage industry. It may appear to outsiders that the market has faded away, but non-standard customers are as important as ever – even if the market looks different from the past.
May 20, 2015
We at Target are committed to providing the very best in financial services to our clients; including loan servicing, mortgage servicing, and the latest software
April 30, 2015
Developing a robust data analytics capability within a business, requires a number of important steps that need to be undertaken before embarking on any development programme. There are a couple of key points you must consider when starting this journey.
April 29, 2015
Target Group, the financial services outsourcing and software provider, has signed a multi- year deal to provide their omni-channel product and accounting solutions to Direct Money, the financial services digital affinity provider in South East Asia.
April 28, 2015
We catch up with Mike Newman and Ross Trotman from Hartmoor.
April 28, 2015
We catch up with Paul Smee, Director General of Council of Mortgage Lenders
April 23, 2015
With Halifax said to be trialling the use of heartbeat monitors to determine a customer’s identity, technology in the financial sector appears to be advancing more quickly than ever. The bank has revealed plans to use special wristbands to check the heartbeat of its customers – something which is completely unique to each individual - before allowing them to access their online banking facilities.
April 22, 2015
Business likes its buzz words and one of the most often quoted in recent times has been the term ‘Big Data.’ Definitions of ‘Big Data’ vary but one simple and widely held view is that it refers to the massive volumes of both structured and unstructured data that can be mined to reveal patterns or trends around customer behavior and your interaction with them.
April 2, 2015
Target Group, the financial services outsourcing and software provider, has today revealed it has more than doubled its profits in the 2014 financial year. The company posted EBITDA of £5.5m in 2014 - a £3.3m increase on the 2013 figure of £2.2m. Turnover increased by over £11m over the same period from £34.7m to £46.1m.
April 1, 2015
Target Group, the financial services outsourcing and software provider, today announces it is entering the UK structured product industry as a new product provider. This move will see Target designing Retail Structured Products and distributing via Intermediaries under the brand “Hartmoor Financial”.
March 27, 2015
We catch up with Richard Thompson, Partner Portfolio Advisory Group at PwC.
March 27, 2015
2014 was the best year ever recorded for Equity Release lending. £1.4bn was loaned into the market and the number of new customers also reached its highest level for 6 years.
March 25, 2015
So we have recovered. It seems that most commentators believe that the UK economy is back on a safer footing (despite some notable risks and potential headwinds) and as the wider economic environment continues to improve the UK mortgage market is, broadly speaking, on the up. 2014 saw regulatory issues dominate.
March 19, 2015
Over a quarter of consumers (28%) find buying or looking for insurance online confusing, according to new research from the financial services software and outsourcing provider Target Group.The research asked consumers for their perspective on insurers’ online efforts, how they prefer to communicate with insurers and what factors influence how they buy insurance products.
February 24, 2015
Whether they realise it or not most large organisations are awash with valuable data. More often than not, there is a mountain of information tucked away in a number of departments, in varying states of accessibility, accuracy and formats.
February 3, 2015
Target Group, the financial services outsourcing and software provider, today announces the appointment of Mark Cutts as the firm’s Intellectual Property (IP) and Business Process Outsourcing (BPO) Sales Director. With over 20 years’ experience in the global financial services industry, Mark has worked with companies such as Fiserv, Sema Group and HSBC.
January 27, 2015
2014 was an eventful year for Financial Services! The introduction of the Mortgage Market Review (MMR), as well as the implementation of the Consumer Sourcebook kept everyone busy and 2015 looks like it will be more of the same.
January 19, 2015
We have seen some significant changes in the mortgage market over the last year, the most substantial being the implementation of the Mortgage Market Review (MMR) in April. Undoubtedly one of the most extensive pieces of legislation the sector has witnessed in the last decade.
January 15, 2015
Target have been nominated for the FS Tech awards 2015 for Best Use of IT in Retail Banking & Insurance for its work for Welcome Finance. By implementing an account and arrears management system, we have enabled Welcome Finance to reduce its annual IT costs from £7.5million to £2.5million
November 6, 2014
Secure Trust Bank plc has selected Target to deliver a arrears management system to optimise collections and increase efficiency across a wide range of loan portfolios. The tailored arrears system will manage the bank's loan portfolios for motor finance, retail finance and unsecured loans which operate under the Moneyway trading name.
November 6, 2014
We recently partnered with YouGov to conduct a research survey of 2000 consumers looking into the borrowers spending habits in the wake of the Mortgage Market Review.
November 5, 2014
Target achieves an initial Special Servicer ranking from Standard and Poor’s and reaffirms Above Average Primary Servicer rating
Target is pleased to announce that Standard & Poor’s (S&P) has awarded the group a Special Servicer Rating at its first attempt. In addition, it has also confirmed that Target has maintained its “Above Average” rating for primary servicing.
October 31, 2014
Received wisdom within financial services is that consumers of financial products don’t like change. Inertia is often cited as a major issue across a diverse range of financial products. Whether it is bank accounts or remortgage rates, it does seem that people often need to be reminded or cajoled into securing a better deal for themselves and, even then, they can be reluctant to act. So why is that the case?
October 29, 2014
Target Group, the financial services outsourcing and software provider, has today announced that it has gone live with its first acquisition of a secured loan portfolio. The acquisition forms part of Target’s ambitious growth strategy, and has been carried out in partnership with Arrow Global.
October 24, 2014
Target has strengthened its mortgage market presence with another contract win - and welcomes new outsourcing client Yorkshire Building Society.
October 24, 2014
Target Group, the financial services outsourcing and software provider, today announces the appointment of Steve Khan as the firm’s Loan Servicing Sales Director. Steve’s expertise in the financial services industry ranges across retail mortgage origination, capital market and servicing.
October 20, 2014
Target Group, the financial services outsourcing and software provider, has today announced the appointment of John Miles as Product Manager, Insurance. John will be responsible for driving the strategy for Target Group’s IF Channel and IF Fullcycle products.
October 18, 2014
Target Group, the financial services outsourcing and software provider, today announces the appointment of Terry Baxter as the firm’s Risk and Compliance Director.
October 15, 2014
Target bluechip, the loan and mortgage broker software provider, has won a contract to supply its broker management system to Chaseblue Loans, one of the leading UK specialist broker packagers of second charge, bridging and commercial finance.
October 14, 2014
Financial services outsourcing and software provider Target Group has made a key appointment with David Tweedy joining the Executive Committee.
October 14, 2014
Morgan Stanley has appointed financial outsourcer and software solutions company Target Group to provide administration services for one of its UK retail structured investment products portfolios.
October 14, 2014
The UK economy is emerging from the financial instability that has characterised the past few years. The mortgage market is moving back to growth, with the Council of Mortgage Lenders predicting that volumes will rise further during 2014, potentially reaching £200billion.
October 14, 2014
The announcement last month of plans to regulate buy-to-let (BTL) lending as part of the EU Mortgage Credit Directive has left many in the mortgage world scratching their heads.
October 5, 2014
Following Saturday’s MMR deadline, Target Group, the financial services outsourcing and software provider, announces today that it had a smooth transition to the new MMR regulations, having been ‘MMR ready’ ahead of the deadline.
September 15, 2014
Whatever views one might have about political and economic ramifications, it is clear that most of the industry would not welcome the huge amount of work required to unpick a financial union that has been in place since 1707. In the mortgage market in particular concerns have been raised about how mortgages could be denominated and regulated were the union to be dissolved.
June 23, 2014
As the UK economy emerges from the financial instability that has tainted the past few years, the mortgage market is showing strong recovery signs. The market is finally settling down after a few years of turbulence, consumer and lender confidence is returning with a flourish.
June 23, 2014
Over the past seven years, the financial services industry has experienced significant change and upheaval. Despite this, one constant has remained; the use of outsourcing. So with all the transformation and turmoil, why is it that lenders still favour outsourcing?
May 12, 2014
With the introduction of the Mortgage Market Review (MMR) last month, the main challenge for lenders has been how to comply with regulation effectively whilst still delivering excellent customer service and retaining their competitive advantage.
April 14, 2014
Since the financial crisis, standby servicing has played an increasingly important role in reassuring investors. As a result, lenders who have not ring fenced their back office functions have felt the heat to have a robust standby servicing provision in place.