A new Collections and Enforcement specialist has launched. Chartsbridge says that it aims to provide the first unified motor finance collections and recovery outsource service in an otherwise fragmented marketplace, with their services available to clients on a modular or a full partnership basis.
Chartsbridge has been launched by John Ingram – who originally founded Burlington Group which was purchased by judicial services group Marston in 2015.
As part of the launch, Ingram has confirmed Andy Thomas as the company’s new Operations Director. Thomas has over 30 years of collections experience and recently left sub-prime car finance lender Moneybarn, where he was the Customer Operations Director.
Commenting on the launch Ingram said that prior to 2014, the market was served by a large number of small collections and recovery providers. “What we saw in the period, prior to the FCA taking over regulation of consumer credit firms, was a motor finance space that was poorly serviced. In recent years, the new regulatory environment has created a smaller number of more professional businesses in the sector.”
“In the last five years we have seen that the market is now primarily made up of niche operational specialist. There is now a lack of ongoing investment and innovation. Although the supplier market has professionalised, it has left the sector’s lenders without a credible full-service motor finance collections and recovery outsource provider.”
Ingram feels that there is a strong market appetite for a unified and modular service offering. The major debt collection agencies and enforcement businesses do not tend to cater specifically for the motor finance sector because of the attendant sector complications and specialist regulatory requirements.
The business says that it brings first-to-market technology solutions into the regulated collections market for motor finance lenders, delivering transparency and driving higher standards and operational efficiencies. The Chartsbridge technology platform consists of multiple modules allowing full lender API integration efficiencies and a consumer self-service portal – a first for the market. With added-value data analytics and insight services additionally enriching key data, Chartsbridge aims to enhance customer engagement and deliver better outcomes.
Along with a nationwide team of uniformed field personnel and a fully liveried national fleet of tech-enabled vehicles, the business is heavily investing in an experienced management team to raise standards across its service offering.
Chartsbridge offers a suite of services that encompass the motor finance post-arrears customer journey end-to-end. Clients are able to pick from service modules that can be deployed across all jurisdictions. The suite will include front-end account rehabilitation and collections activities, back-end asset recovery and shortfall enforcement services.