HBOS understands the value of monitoring and managing activity levels of its external DCAs (debt collection agencies) and its internal recovery efforts. Therefore, it wanted an effective system to improve its debt collection efforts, to manage performance levels and to streamline its processes. HBOS was created in 2001 following the merger of Bank of Scotland and Halifax plc: 4th largest bank in UK •Biggest mortgage, savings and home •insurance provider in UK Biggest issuer of new credit cards in UK •23 million customers •71,000 employee The external DCA reconciliation at HBOS now stands at 97.6% by volume and 99.5% by value. HBOS achieved a 12% lift in liquidation in the first four months of using PlacementsPlus service.
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