Author Archives: Geoff Poundes

How to know your customer AND prevent fraud!

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We note with interest that fraud cost the UK economy £1.374bn in 2010, according to KPMG’s Fraud Barometer. That represented a 16% increase on 2009.

Financial institutions spend an awful lot of money on detecting and resolving fraud, particularly on remote tools designed to identify application fraud trends, but seldom invest as heavily in fraud prevention. In the mortgage arena huge commissions are paid to mortgage introducers, who become the only human face the borrower relates to the transaction, whilst the lender remains in the background. On the basis that “people buy from people”, how much more effective would it be if lenders sent a representative to meet new customers at the outset of the loan agreement, to confirm their understanding of the transaction and resolve any of the borrower’s questions, but also to undertake a rudimentary fraud-check? And here’s an idea – pay for it out of the broker’s fee!

The Power of Innovative Thinking!

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Here at Ethicall we pride ourselves on coming up with imaginative solutions. Recently a well known sub-prime motor lender approached us – they’d had enough of the “money or metal” approach, where they were repossessing non-paying customers cars, selling them at auction for a loss, and then facing the thankless task of chasing disgruntled debtors for the shortfall! They wanted to examine a better option – and we suggested that our highly qualified field force could provide it. They began instructing us to interview the debtors, explain the complicated hire purchase agreement to them and the consequences of non-payment, and make long term arrangements designed to keep the car with the customer – and retain the customer’s goodwill!It’s been a roaring success – many of the cases they’ve sent were more than 90 days in arrears, and we’ve achieved an 89% contact rate, and less than 5% of cases have moved on to repossession!

That’s the power of innovative thinking!

Ethicall Celebrates It’s First Anniversary!

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Ethicall is celebrating the end of their first year of trading by launching their new website, www.ethicallfs.co.uk.

Ethicall is the only nationwide field agency working for the mortgage and lending industry that can boast a fully employed field network. What’s more, Ethicall only employ field staff with long-term credit industry experience – a unique approach that has taken the market by storm.

It’s an approach that has guaranteed record breaking results. Calling on early arrears mortgage customers, Ethicall are achieving over 90% right party contact rates and an average turnaround time of 13 calendar days.

 Ethicall’s figures have been so impressive that they’ve trebled their client base over the year, as well as doubling their field representation. Oh, and along the way they picked up an “Innovator of the Year” award from the Mortgage Finance Gazette!

 Ethicall’s Sales & Marketing Director, Martin Swann, is excited about the future:

 “We’ve broken the mould” He said. “Our highly experienced field network has achieved unheard of results, and continues to do so. By strictly adhering to our policy of using only fully employed field agents, we’re able to offer the most compliant solution in what is becoming a more and more regulated area. The future couldn’t look more rosy!”

 It’s a tremendous success story in the most challenging of business climates – and just reward for hard work, a courageous approach to doing business, and innovative thinking.

 To learn more about Ethicall’s unique approach, visit their new website at www.ethicallfs.co.uk, or contact Martin Swann, their Sales & Marketing Director, on 07769660033 or martin@ethicallfs.co.uk

Welcome

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Welcome to Ethicall’s new website, and this, our blog. Ethicall offers high quality field services to the financial services industry – our Regional Partners and Area Account Managers undertake customer visits for a range of clients: mortgage lenders, loan companies, solicitors, insurers, and others, and for a range of purposes: arrears re-habilitation, mortgage counselling , process serving and more. We’re different because we employ ALL our field operatives, without exception, and only work with knowledgeable, credit-industry experienced people.

Our blog will be a forum for ideas – we’ll post industry and Ethicall updates, pertinent comment, and maybe some light-hearted contributions from the sometimes comical world of field operations. So watch this space.