UKAR: CGI Collections360® migration and hosting
Established in 2010, UK Asset Resolution Limited (UKAR) was formed to bring together two fully nationalised banks: Bradford and Bingley (B&B) and Northern Rock Asset Management (NRAM). The combined organisation supports some 800,000 customers with around £77 billion of mortgage loans, and employs 2,400 employees at sites in West Yorkshire and the North-East of England.
The Challenge
Consumer Debt Collections was identified as
an essential way to contribute to UKAR’s overarching goal to maximise
value for the UK
taxpayer. UKAR identified two fundamental changes to improve the efficiency and
effectiveness of its collections operation. First, there was a desire to regain
control of the collections activity for a portfolio of unsecured debt from an
external organisation. Secondly, there was a need to replace the use of
spreadsheets with a more robust and reliable recoveries workflow system to
manage post repossession shortfall accounts. UKAR approached CGI for help in
resolving and managing its concerns.
How CGI Helped
CGI helped
UKAR regain control of its business. To begin with, CGI worked with UKAR to specify
the business objectives and then used its Collections360 business model to
establish a managed service that gives UKAR’s staff remote access to the latest
version of CACS®, hosted at a CGI data centre
in the UK.
CGI in collaboration with UKAR teams worked together to migrate three separate
account portfolios onto the CACS system, while meeting the challenging go-live
timescales.
The Results
This project resulted in UKAR attaining a
flexible and centralised system that delivered on all the critical requirements,
while giving CGI the opportunity to strengthen its Collections360 capabilities
in Europe. Additional benefits included:
- A reduction in UKAR’s collections costs, automating previously manual tasks
- Provides Compliance / Audit teams with the ability to monitor actions
- Closer control over the performance of the collections operation
- A 29% increase in promises kept, and a 500% increase in cash collected
The Bottom line
CGI’s Collections360 migration and managed
service solution provides UKAR with an array of quantifiable and qualitative
benefits that contributed to profits of £411 Million in 2010 allowing UKAR to
excel despite a volatile debt recovery market.
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