Source: PIC Solutions
Nationwide Building Society, the largest building society in the world, selected PIC Solutions to conduct a Collections HealthCheck in their credit card environment.
Nationwide Building Society (Nationwide) is the UK's fourth largest mortgage lender and eighth largest retail banking, saving and lending organisation by asset size. Nationwide offers a broad range of mortgages, savings, unsecured lending products and other financial products to its customers.
PIC Solutions consultants conducted this Collections HealthCheck to ensure that existing provisioning and collections policies and procedures were aligned with new strategies. This assignment aimed to highlight a number of areas for development that would ensure improved business results, best practice benchmarking and revised monitoring procedures.
Eric Stanford-Jones, Senior Manager at Nationwide comments that, "We are committed to improving risk management best practices throughout our organisation. This Collections HealthCheck was conducted to ensure that our existing policies effectively match industry best practices. Consultants from PIC Solutions used their vast experience to help us align our collections policies and procedures with new strategies. We are delighted by the outcome of this HealthCheck and we look forward to working with PIC Solutions on future projects."
David Lewis, Director of Consulting at PIC Solutions, adds, "We are delighted to have been selected by Nationwide to conduct this HealthCheck in their collections environment. PIC consultants have conducted a number of HealthChecks in various organisations and our HealthChecks have become the industry-benchmark for custom consulting assignments. During this assignment PIC consultants assisted Nationwide to identify and improve collections policies and procedures."