PIC Solutions HealthCheck Maximises Nedbank’s Collections Strategies

Cape Town, 27 March 2007 – PIC Solutions is conducting a Collections HealthCheck for Nedbank Limited, one of South Africa's ‘Big Four’ banks, to maximise the return on the bank’s collections strategies.

The collections function is critical to the success of any credit granting organisation and this HealthCheck aims to review the collections environment within Nedbank’s Transactional and Investments Product portfolio. The National Credit Act, changing interest rates and a growing emerging market, led to Nedbank implementing new collections policies to embrace these challenges and effectively grow this portfolio.

During this assignment, PIC Solutions’ experienced consultants will conduct a HealthCheck on the Bank’s current collections environment to ensure that existing provisioning and collections policies are aligned with their new strategies. In addition, this assignment will determine any new areas for development; leading to improved business results, best practice benchmarking and revised monitoring procedures.

Stuart Parvess, Head of Collections and Recoveries at Nedbank, comments, “We are committed to effectively managing our delinquent accounts to minimise bad losses and also maintain the high customer service our customers expect from Nedbank. PIC Solutions understands the various factors impacting our collections environment and this HealthCheck aims to determine if we are meeting these objectives and confirm that our strategies are aligned with collections best practices.”

Stephen Leonard, Managing Director of PIC Solutions, comments, “We look forward to working with Nedbank on this assignment. This HealthCheck aims to ensure that all future personal loan collections and recovery strategies are optimised and incorporate industry best practice. By effectively managing their strategies and collections procedures, Nedbank can maximise opportunities and successfully grow this portfolio.”