Wescot Credit Services Seeks to Extend Contract with Experian

Wescot Credit Services, one of the leading debt collection agencies in the UK, has enjoyed a successful collaboration with Experian, the global information services company that has provided data services since the agreement began. The multi-million pound deal afforded Wescot access to accurate and complete data in order to achieve a better all-round performance for its clients.

Wescot Credit ServicesUtilising the new to the market Experian dynamic platform, ExPin, Wescot is providing its clients with a unique service tailored to its own needs, and is able to draw on the latest up to date information as is possible. ExPin allows Wescot to view an accurate and complete assessment of the customer, something extremely beneficial to the partnership.

At the time of the original agreement Simon Waller, the head of collections and customer management at Experian, explained the benefits of the partnership:

Through the extension of our partnership with Wescot, we look forward to providing the company with quality data and advanced business intelligence. Using technology to enhance debt collection practices is becoming increasingly important, particularly with recent scrutiny and increased regulation of the debt collection industry. This partnership will help Wescot adhere to stringent regulatory guidelines, increase data accuracy and help drive the best data collection practices in the industry.”

Wescot’s desire to extend the partnership is a clear indication of the success so far of the collaboration, and with the current contract ending in February, 2014, negotiations are well under-way to come to an agreement for the future. It is notable that Experian, which has a great number of international clients and provides a full credit score, risk, fraud prevention and  decision making service, as well as implementing methods of preventing identity theft, is also keep to continue with what has been a lucrative partnership beneficial to  both parties.

When the original agreement was signed, chief executive officer of Wescot, Paul Jenkins, had this to say:

“Our strategic partnership with Experian has improved our collections operating model by delivering insight into individual customers and client portfolios. As a result we have been able to strengthen our competitive advantage in the UK’s collections and recovery markets.  The implementation of the ExPin system, when integrated with our decision and execution platforms, will further improve our ability to take into consideration each individual customer circumstances and deliver appropriate solutions for the repayment of outstanding debts. The benefits to the consumer and our clients are significant, however without question the most important element is the ability to continue to achieve the highest possible standards of compliance in the sector, therefore this is an investment which is designed to continue to protect the reputations of our clients and the Wescot brand.”