claritycomply
Claritycomply is our product designed to ensure absolute and undoubted compliance with all regulatory matters in respect of the engagement between us as your representative and your borrowers.
At the heart of the offering is the removal of the traditional ‘no win, no fee’ approach to debt collection which has historically been utilised to performance manage DCA’s to collect the greatest level of cash in the shortest possible timeframe. This performance metric is replaced by a new ‘balanced scorecard’ approach to ensure that your best performing DCA is measured against a basket of measures rather than one.
Typically this scorecard will have the following components with weightings agreed with you to reflect your strategic objectives:
- Level of borrowers spoken to.
- Performance of arrangements set.
- Level of complaints.
- Value created for you – a combination of collections and value of the arrangements set.
- Our Audit performance.
- Our level of engagement with you to help you to improve your results.
- Naturally this scorecard can be tailored to your needs.
From a regulatory perspective we will agree a process with you to carry out a full forensic assessment of your borrower’s financial situation. Any arrangement we make with your borrower will be as a direct result of this assessment.
Our fees
Claritycomply is a fixed fee product where we charge on an account by account basis with an additional fee for each completed contact. We do not charge any commission on monies collected.
We agree targets with you for each element of the Balanced Scorecard and then agree the rebate you will receive in the unlikely event that we do not meet your expectations and, if appropriate, the level at which we can benefit for over performance against your targets.
