Increasing Debt Purchaser's Acquisition Opportunities
With more consumers struggling with problem debt and a tougher regulatory environment it is critical to ensure that Debt Purchasers in the UK are making well informed decisions when it comes to acquisitions, processes and strategies.
Outstand.io can help you to grow your business, reduce complaints and make better decisions when it comes to portfolio acquisition.
More informed purchase decisions leading to more accurate pricing
Improve customer journey and reduce complaints
Reduce your sales resource - we’ll bring the portfolios to you at no cost
Make Better Debt Purchasing Decisions
There is an increased focus on right outcomes for customers, vulnerability cases and complaint handling for financial services. These processes that are put in place are always to ensure the fair treatment of customers. It is therefore vital that the decision to proceed with making an offer for debt purchase is well informed.
This is even more important when a loan book has come from a firm that is now insolvent. Whilst these loan books are still valid they are usually sold as seen and have the most ‘at risk’ customers due to the typically larger share of the portfolio that may be in default.
Outstand.io will work with the seller prior to bringing any portfolio to market by providing you with a report that covers all of the key information on the loan book before you price it. This includes customer acquisition, underwriting, vulnerability and collections strategies to date to enable you to more accurately price the portfolio and therefore turn down less new business.
Increase Customer Engagement and Reduce Complaints
All too often the process of debt sale lacks cohesion and there is an increased level of complaints in the early stages of the reassignment of the debts. This can be exaggerated over the months that follow if a proper understanding of the customer journey up until the point of sale is not had.
Having robust processes to minimise these cases that are caught in the crossover is one of the easiest ways to help with this. With a forward flow agreement in particular, it is particularly important that the selling party also has these in order to mitigate the risk of complaint for both buyer and seller. Ensuring that these processes are in place and the buyer has bought a portfolio that they fully understand helps to create a clearer journey for the customer.
Outstand.io will support the seller preceding the sale, through the sale, and beyond the sale to ensure that these processes are in place. We will ensure that they are robust enough to ensure that your new customers are engaging with you and you are seeing the returns on your bottom line.
Reduce your sales resource and refocus your business on what you do best
We’ll bring the portfolios to you on both a spot and forward flow basis, at no cost to you. All you need to do is tell us what types of portfolios you want to purchase.
As soon as we have something that meets your appetite we will let you know and provide you with our report and a secure data file to give you all of the necessary information to make an offer and understand exactly what you are offering to purchase.
If your offer is accepted we will work closely with both buyer and seller to ensure that all post sale processes are integrated and do a final data file cut so that you know if anything has changed with any accounts, preventing any unnecessary complaints, so that you can focus on recovering the debt owed and increasing the profitability of your business.