Target Group has won the contract to provide loan origination and end to end servicing for new secured loan provider Portal Portfolio.
The servicer says the contract is worth over £5 million and will creates new jobs at Target’s expanding operation in Newport, South Wales.
Portal Portfolio will focus on primary customer acquisition activities including marketing, sales, and initial loan qualification, when they will hand-over to Target to manage the back office administration involved throughout the life of the loan product. Target will perform loan origination, underwriting, packaging and on-going servicing of customer accounts on Portal’s behalf.
Tim Moore, managing director at Portal Portfolio, said: “Our requirement was for outsourced loan origination that would be prepared swiftly and efficiently