Quadrant, a specialist risk consulting and supplier of Business Intelligence and Risk and Compliance solutions for Financial Services Institutions has carried out a strategic review of the collections processes for the pan-European operations of IFHL.
IFHL is the vehicle leasing arm of IVECO, a leading manufacturer of trucks and commercial vehicles. IFHL is a joint venture between IVECO and Barclays, which focuses on the lease finance of commercial vehicles. The review concerns establishing best practice processes, procedures, risk management and management reporting systems across the European subsidiaries. The review takes account of applicable regulation, including Basel II and local cultural factors whilst ensuring that timely Management Information both supports local operations and easily consolidates for group wide reporting.
Paul Lockyear, Quadrant's CEO, said, "I am delighted to welcome IFHL as a client for our Leasing Industry Collection Procedures Review process. Quadrant's in-depth understanding of the banking and finance industry from 'top to bottom' combined with our business intelligent data insight, enabled us to provide IFHL with a very broad perspective on their pan-European businesses".
Keiran Foad, Chief Risk Officer of IFHL, said, "Having worked with Quadrant previously at Absa in South Africa, I was confident that Quadrant would deliver a clear and concise overview that allowed IFHL to refine our already efficient collection and reporting environment. In a dynamic economic environment it is important that IFHL, as a leading European commercial vehicle funding source, maintains its position ahead of the pack".