.png?width=280&height=112&name=PA%20Logo%20(Resized).png "Pepper Advantage")
Pepper Advantage will manage Servicios Prescriptor y Medios de Pagos loans
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- Portfolio comprises approximately 40,000 active performing revolving credit card loans and unsecured creditors and 2 million closed accounts for regulatory purposes
- Pepper Advantage is delivering a bespoke solution for a complex loan book, which it will integrate into its credit intelligence platform
Madrid and London, 2 December 2022 – Pepper Advantage, a global credit intelligence company, today announces that it has been contracted by an international private equity firm to manage a €58 million unsecured loan portfolio, comprising approximately 40,000 revolving credit card customers, as well as over 2 million closed accounts.
The portfolio, which was currently owned and manged by Servicios Prescriptor y Medios de Pagos (SPYMP), was acquired by a private equity firm in 2013 and closed to new customers in November 2019. It includes a complex combination of performing loans that originated as revolving credit card debt and unsecured personal loans that were initiated through discontinued products or on legacy platforms. Pepper Advantage will leverage its global credit intelligence platform to track and analyse customers across this wide range of products and origination platforms, allowing it to manage a complicated book of loans.
Pepper Advantage was selected due to its unique ability to leverage its technological expertise to create a bespoke solution that covers the entire loan book. The company will provide a range of customer service and data management activities, including collection activities, claims processing, cash management, insurance, anti-money laundering compliance and ancillary services.
“This is a milestone project for us. We have demonstrated our best in class technical and technological expertise, creating an innovative and highly competitive solution for the Spanish market,” said Fraser Gemmell, Chief Executive Officer, Pepper Advantage. “This shows the breadth of our servicing solutions and ability to migrate and manage such large, sizable portfolios, in this case involving over 2 million accounts.”
Juan Arsuaga Dodero, Head of Client Solutions, Pepper Advantage, Spain, said: “The tightening macroeconomic situation means more unsecured loan books are coming onto the market, and our work with this new client demonstrates that we are the go-to managers in Spain for these portfolios.”
For all media queries please contact
Eterna Partners
PepperAdvantage@eternapartners.com
+44 07375 288 641
