Northern Rock Case Study
Unsecured loans business
What do we do?
Northern Rock outsources the administration, customer service and collections strategies for its unsecured loans business to Ventura.
What services do we provide?
Northern Rock is one of Ventura's longest standing clients. From one of our large scale contact centres in the UK, we provide the retail bank with a broad range of customer management and collections services, including:
Debt Management
Debt collections from early to late delinquency:
- The management of recovery strategies based on the segmentation of the debt by perceived risk and account behaviour
- Inbound and outbound calling together with the printing and despatch of appropriate letters to customers.
- Debt collections Strategies developed and managed via an automated collections system (CACS)
- Help and assistance for customers in financial difficulties including close cooperation with voluntary organisations
- In house debt collection agency (DCA) - Pennine Debt Recovery
- Administration of accounts who are with external Debt Collection Agencies including those going through the litigation process.
Document Management
- Administration support including management of correspondence relating to bankruptcies, individual voluntary arrangement (IVAs) and insurance
Customer Management
- General customer service queries e.g. change of address, insurance claims
- Inbound and outbound calling supported by an Avaya Dialler
What are the benefits?
Northern Rock benefit from:
- Operating costs which are variable and linked directly to customer contact volume
- Access to best practice from Ventura across a range of sectors not just financial services
- Debt collection results that better market averages
- Strict adherence to all FSA and regulatory standards
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