Established in 2005, Arrow Global Group specialises in the purchase, collection and servicing of non-performing loans. It identifies, acquires and manages secured and unsecured defaulted loan portfolios from financial institutions, such as banks and credit card companies, as well as retail chains, student loans, motor credit, telecommunication firms and utility companies.
With almost £48 billion of Assets Under Management and around 10 million customer accounts across multiple European countries, the effective management of its risk profile and associated processes is critical. Having expanded rapidly, Arrow Global identified the need to implement an enterprise risk management system which would make it easier for the whole business to assess and report risk and control information, while moving away from a spreadsheet model which led to risk data being stored across multiple documents and locations.
Arrow Global took advantage of the opportunity to trial the Xactium software, deciding that it was the right system to take the organisation into a new era of risk management. By adopting Xactium, the Group will soon be working with just one central platform to store, track and report on the organisation’s risk information. With offices in countries including the UK, Ireland, Italy, Portugal, Belgium and the Netherlands, Arrow Global will have greater transparency over risk exposures and how they are being managed across the Group, as well as the ability to automate many of the manual processes involved.
Paul Woods, Enterprise and Operational Risk Director at Arrow Global Group, said: “Establishing a ‘real-time’ and flexible assessment and reporting system which we can use consistently across our expanding Group, became a priority. Xactium’s platform addresses this need and will support us as we further enhance our risk management approach across all of our businesses. We look forward to working with them through this exciting phase of our growth.”
Managing Director, Andy Evans says, “Arrow Global expands Xactium’s rapidly growing portfolio of organisations working in the financial services sector. It’s fantastic to have been selected by such a rapidly growing organisation – Xactium’s flexible, modern, cloud based risk solution will be able to adapt easily to changes in their organisation, whilst ensuring Group-wide risk visibility.”