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Another loan servicing contract 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 for 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 added.

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

Target Group is a leading expert provider of services and software solutions to the consumer finance, commercial finance and general insurance markets. It employs approaching 300 staff and has offices across the UK and in Australia. Its headquarters are in Cardiff.