Creditors Look for New Solutions to Address Recoveries Challenge

Major creditors are seeking a new approach to debt recovery to drive performance beyond their traditional collection agency processes. As debt challenges increase, analytical and customer focused solutions are required to drive increased performance.

TDX Group, which has built the UK?s leading debt servicing capability, has recently closed several deals in the banking and utility sectors worth £15m over the next three years using the company?s Recoveries Management solution. The deals indicate that creditors are foregoing the time, cost and risk of building in-house debt recovering systems to partner with companies that can provide solutions that give a greater return than traditional approaches.

TDX Group?s debt servicing platform combines data and analytical driven decisioning, unique tools and the use of leading and specialist collection agencies to optimise and manage the best collection strategy for each account. The TDX Agency Network brings together over 30 of the main collection agencies to enable targeted segment-level collection strategies.

Clients using TDX Group for Recoveries Management also gain access to its leading Debt Sale Brokerage service which manages over 40% of the debt sold in the UK.

TDX Group?s Business Development Director, Steve Bradford says, ??As our business grows, our clients will gain the benefits of increased economies of scale, TDX Group?s view of industry-wide performance data, our dedicated test and learn programmes for new tools and a partnership focus based on delivering long-term value.??