Barclays has gone live with a repossessions management solution from xit2, the provider of outsourced process management for the lending industry.
xit2's Repossession Exchange will automate Barclays' repossessions, enabling clearer, faster communications between Barclays, Ekins Asset Management and the litigating solicitors involved.
Barclays was previously handing all of its repossessions manually through Ekins. This was hugely time consuming as the majority of potential cases are abandoned before they reach actual repossession. Through using xit2's Repossession Exchange, Barclays can now do in minutes what would previously have taken hours.
Guy Weightman, head of business relationships at Ekins, says: “The repossessions process should allow for a large proportion of aborted cases. Having seen xit2's Repossession Exchange we decided that by using this solution, we could work more efficiently and free up resources to concentrate on those cases that did reach repossession. We now have a swifter, better managed process and thus more time and resources to focus on adding value for our clients.”