Wednesday, May 22, 2019
22 May 2019 – Cabot Credit Management, one of the largest credit management service providers in Europe, has won two awards at the Credit Awards 2019 – Best Vulnerable Customer Strategy – Provider - with Cabot Financial and - Law Firm of the Year - with Mortimer Clarke Solicitors.
The professional industry judges when commenting on the Best Vulnerable Customer Strategy award said: “Cabot Financial has made innovative use of real-time speech analytics to identify vulnerable customers, along with a focus on dementia with specific training and support. Judges were really impressed with the holistic approach to vulnerability, driving forward both colleague education and support.”
And for the Law Firm of the Year win said: “In a hotly-contested category, Mortimer Clarke demonstrated strong evidence of use of technology and improved KPIs.”
This marked the 20th anniversary of the awards which were launched in October 1998.
Derek Usher, Managing Director, UK Debt Purchase, Cabot Financial, said: “We are delighted with these accomplishments and always focus on keeping the customer at the heart of our business which is reflected in winning both of these important awards. For the vulnerable award we demonstrated how we clearly are able to identify vulnerable customers with the help of the latest technology and the high quality training we give to our staff to ensure those customers have the best support available. In addition, the law firm in our Group, Mortimer Clarke Solicitors, deserves recognition for maintaining its absolute focus on both fair customer outcomes and optimised execution throughout the litigation process. Its continual innovation has produced fantastic results and I am delighted that its achievements and high conduct standards have been rewarded in this way.”
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Note to editors
Cabot Credit Management (www.cabotcm.com) is one of the largest credit management services providers in Europe and the market leader in the UK and Ireland, based on expected future gross cash collections. Cabot provides a range of credit management services across a broad client base that includes some of the largest credit providers in Europe. These services include debt servicing offerings such as early stage collections, business process outsourcing, contingent collections, trace services and litigation activities Cabot has credit management experience across a range of both credit providers (including consumer finance, telecommunications companies, retailers, utilities companies and government agencies) and asset classes (including secured consumer debt, small and medium-sized enterprise debt, and high-value accounts).
Between Cabot’s inception in 1998 to 31 March 2019, it has invested a combined total of c£2.7 billion in the acquisition of over £26.8 billion in face value of purchased loan portfolios and has received £3.2 billion in cumulative collections from purchased loan portfolios. As at 31 March 2019, Cabot’s 120-month estimated remaining collections was £2.7 billion, and Cabot’s 180-month estimated remaining collections was £3.1 billion.
With 21 years of debt purchase and debt servicing experience, Cabot was one of the first companies to engage in the credit management services market in the United Kingdom. In March 2016, Cabot became the first large credit management service company in the United Kingdom to be authorised by the FCA, and in May 2017 Cabot became the first credit management service company in Ireland to be authorised by the Central Bank of Ireland.
Customer service and regulatory compliance are at the core of Cabot’s business and culture and are implemented through its collections strategy. Cabot seeks to treat its customers fairly and offer affordable payment solutions, often through long-term payment plans. Cabot has customer satisfaction scores in excess of all UK banking and building society benchmarks and many leading high street banks, and Cabot believes that it has one of the lowest rates of complaints in the debt collection industry referred to the UK Financial Ombudsman Service. Cabot has won numerous industry accolades, including 2018 Credit Excellence awards for Best Use of Technology and Best Law Firm, 2018 Utilities and Telecoms Awards for Best Outsourced Call Centre Operation, 2017 UK Customer Satisfaction Award from the Institute of Customer Service, Credit Excellence Awards 2016 for Compliance and the Credit Today Award 2016 for Treating Customers Fairly.