Manx Collections is Open for Business

Manx Collections is Open for Business

The FCA regulated Manchester-based company is a subsidiary of the diversified financial services organisation, Manx Financial Group (MFG), who are listed on the London Stock Exchange (AIM: MFX). Manx Collections will focus exclusively on the UK market, to assist businesses of all sizes with the recovery of both regulated and unregulated debt, at any stage of the trade or consumer debt cycle.

To ensure loan book continuity, Manx Collections can also act as a stand-by service provider, underpinning the operational resilience of companies, as well as offering the skill set to monitor a client’s internal processes and procedures. Where required, in order to minimise disruption, Manx Collections also has the ability to step in and collect debt on behalf of a client.  

“With a strong emphasis on compliance, efficiency and outstanding service delivery, we are ideally positioned to manage the recovery of trade and consumer debt for clients nationwide,” explained Managing Director, Stuart Reid.  He said that, with rising inflation, increasing interest costs, continued supply chain disruptions along with new economic uncertainty now was a right time to enter this market to aid consumers, SMEs and funders.

“Our objective is to help funders and their customers in challenging times,” Stuart continued. “The team has a deep understanding of the collections industry and, together with the back-office systems and market leading technology at our disposal, Manx Collections can offer exemplary guidance and support through the entire collection's journey. “Through our operational efficiencies, we are here to maximise collection rates and ensure the best outcomes for our clients and their customers.”

MFG’s Chief Executive Officer, Douglas Grant, said he was delighted that Manx Collections was now entering the UK collections industry as a stand-alone entity within the Group.

“With a proud history of achieving positive customer outcomes through our banking, foreign exchange, brokering and IFA businesses and I have no doubt Stuart will introduce the same levels of professionalism to our collections business.

“Given our considerable Group-wide experience, we are committed to ensuring that Manx Collections will become an enduring presence in the UK collections sector. The breadth and range of expertise that Stuart and his team can offer is, in our view, unrivalled within the industry,” added Douglas.