Partner Article

Target Group moves into portfolio ownership

Target Group, the financial services outsourcing and software provider, has today announced that it has gone live with its first acquisition of a secured loan portfolio. The acquisition forms part of Target’s ambitious growth strategy, and has been carried out in partnership with Arrow Global. This initiative demonstrates Target’s desire and ability to work in partnership to create innovative servicing solutions for the benefit of both Target and its clients.

In addition to owning the portfolio, Target Group will continue to provide primary servicing support for all the loans and special servicing for their own accounts. The Target customers will be serviced under their customer facing brand, Elderbridge.

Target’s end to end servicing and arrears management service enables firms to deliver high quality customer service, efficiently collect overdue loan and mortgage payments and control all associated risks. Target manages the entire arrears lifecycle from identifying early repayment problems and managing delinquency, through to debt recovery and litigation.

Andrew Birkwood, Chief Investment Officer at Arrow Global, comments:

“We are extremely pleased to be working with the team at Target on this project. The secured debt sale market provides good growth opportunities, and it’s great to be able to keep pace with that by developing new initiatives and offerings. “

Paddy Byrne, CEO at Target Group, comments:

“This is a very exciting time for the sector and we’re pleased to be able to expand our remit in line with the rapid pace of the industry. Having the adaptability to move into new areas of the market is a central part of our corporate strategy over the coming months, and the purchase of this portfolio comes at a very exciting time for us.”

The project has already been very successful, delivered on time and to budget, which is a reflection of the hard work and dedication of everyone at Target and Arrow Global.“

This was posted in Bdaily's Members' News section by Target Group .