10 May 2011
Panel and Asset Management Company, Credit Account Management (CAM) has been selected by Nationwide Building Society to provide a fully outsourced Panel Management Solution. Read More
After a competitive selection process, Nationwide have chose to deploy the 'Panel Director' solution from CAM. 'Panel Director' is a fully managed, Panel Management outsource solution and will see Nationwide transition the day to day management of their unsecured consumer debt portfolios across to the CAM platform.
Commenting upon this development, Phil Basford, Controller - Strategy & Recoveries at Nationwide said “Having reviewed various solutions available within the marketplace and operated a competitive tender process, we felt the ‘Panel Director’ solution from CAM best suited our requirements. The flexibility the platform offers and its transparency will add significant value to our internal operations. We anticipate experiencing an uplift in recoveries together with cost savings across our recoveries business. We look forward to working in partnership with CAM”.
The migration across to the CAM platform is a two stage process with forward flow business now passing through CAM and the back-book reconciliation and migration currently taking place. The entire Nationwide inventory will be live on the CAM platform by the end of June.
Group Sales and Marketing Director at CAM, Jan-Michael Lacey commented “We are delighted that Nationwide have elected to partner with CAM. We are confident our ‘Panel Director’ solution will enhance the level of recoveries experienced by Nationwide in providing an increase in raw liquidation, and improve efficiencies. The team at CAM are incredibly motivated and excited about working in partnership with Nationwide."
CAM is providing Nationwide with a full suite of services including: the cloud-based platform from which to manage the debt portfolio, help inform strategic decision making, DCA performance management and auditing and comprehensive management information delivered through the online CAM Reporting Application (CAMERA).