Cape Town, 16 November
2004 – 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.”
