Another motor portfolio servicing win for Target Loan Servicing

Target Loan Servicing has won another significant contract to service loans for the Blue Motor Finance portfolio owned by Merrill Lynch.  Target Loan Servicing now employs over 120 staff at its modern loan servicing operation in Newport, South Wales.  The new motor loan portfolio was transitioned to Target Loan Servicing within just 12 weeks.

Commenting on the announcement, James Snow, Chief Executive Officer for Target Loan Servicing said "Proactive and effective customer management is key for our client.  The benefit of Target Loan Servicing is that we offer a highly specialist service with an experienced loan administration and collections team.  Coupled with Target Group's market-leading loan management systems, we can quickly deliver value to our clients.  These factors enable us to be very good at realising the value of loan portfolios whilst ensuring we deliver on our Treating Customers Fairly principles" he addded.

This announcement follows recent outsourcing contract wins for the Park Motor Finance portfolio by Credit Suisse, the Picture secured loan portfolios and for Ecclesiastical Insurance to service its mortgage portfolio.