Target wins Blue Motor Finance contract

Target Loan Servicing has won another significant contract to service loans for the Blue Motor Finance portfolio owned by Merrill Lynch.

Target Loan Servicing now employs over 120 staff at its loan servicing operation in Newport, South Wales and the new motor loan portfolio was transitioned to Target Loan Servicing within just 12 weeks.

James Snow, chief executive officer for Target Loan Servicing, says: “Proactive and effective customer management is key for our client. The benefit of Target Loan Servicing is that we offer a highly specialist service with an experienced loan administration and collections team.

“Coupled with Target Group’s market-leading loan management systems, we can quickly deliver value for our clients. These factors enable us to be very good at realising the value of loan portfolios whilst ensuring we deliver on our Treating Customers Fairly principles.”