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FCA Authorise Credit Resource Solutions PDF Print E-mail
Wednesday, 05 August 2015

Credit Resource Solutions Ltd (CRS), a contingent debt collection agency (DCA) who specialise in e commerce debt collection for the  Insurance, Finance, Short-term lending, and Utilities markets are delighted to announce that following a lengthy and rigorous process, the Financial Conduct Authority (FCA) has awarded Authorised status to CRS from Elland.

Mick Freeman, Joint Managing Director said: “Authorisation is a required standard for our industry and it will be interesting to see how the authorisation process affects other debt collection agencies.”

He continued: “We are especially proud that we did not require the services of other business to help us through the FCA process.  Having a focused, dedicated and knowledgeable team really helped throughout.  From today, we can focus on evolving CRS to becoming an even more effective DCA for our clients through innovation and investing in our people.’
Caroline Burston, Operations Director at CRS, said: “We are extremely proud that CRS has been thoroughly scrutinised and found eligible for authorisation.  The FCA were uncompromising in their need to understand our business from back office activities through to our policies and procedures for CRS, our clients and their customers.”
At the forefront at CRS is their use of technology.  Paul Hodgson, Sales & Marketing Director said: “In the last three years we have invested heavily in systems for customer benefit which culminated in an award being presented to us at the 2014 Debt Collection Awards in the ‘Best use of Technology’ category for our innovative customer portal.”

He continued: “Further significant investment has been set aside for future projects which, when launched, will aid our business, our clients and their customers within today’s regulatory environment.”
In May 2015, CRS launched CRS Compass, a solution that helps creditors work more effectively with their vulnerable customers on debt plans and who may also be working with customers using a debt management company.  CRS invested a significant sum into creating an on-line portal built around the 6 major principles of TCF and to assist in the management of vulnerable customers.  For creditors significant operational costs are saved and for customers, an easier way to manage their finances  during a period of financial difficulty.   Since launch CRS compass has grown significantly, with a total of 50 000 customer cases being handled under this solution by the end of August 2015.
Investing in systems and importantly CRS staff development will ensure CRS remain at the forefront of debt collection and will continue to lead the way in compliance and treating customers fairly.

(Source - CRS Press Release)


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