Equifax Inc. EFX today
announced it has signed a significant multi-year, multi-million dollar
partnership agreement with the UK Government for debt recovery services to be
managed through TDX Group - an Equifax Company (TDX).
Equifax Inc. logo
TDX, the United Kingdom's largest debt placement services and debt management
platform company, was acquired by Equifax in January 2014. TDX will partner
with the UK Government through a new entity, Integrated Debt Services, Ltd.
The business will enable the government to externally purchase debt recoveries
services as a single customer, and to access the full debt recovery market
more efficiently and effectively.
Integrated Debt Services, Ltd. will launch with six Government Departments as
initial customers who have committed to using its capabilities as a single
gateway to access the increased capacity and capability of the private
sector. On-boarding of initial customers and rollout will commence at
different intervals beginning in spring 2015. The scope of debt services to
be contracted through Integrated Debt Services, Ltd. will include:
o Provision of analytics (data cleansing and enrichment services) where
required by departments
o Provision and management of collection activity by debt collection
agencies
o Litigation and enforcement services
"This is a strategic opportunity that is well-aligned with the strength of our
TDX debt management capabilities and is a great initial step which will be
supported by a series of commercial agreements to be signed in early 2015,"
said Equifax Chairman and CEO Rick Smith. "We are pleased with the UK
Government's recognition of the expertise we will bring as a partner, enabling
them to facilitate fair and effective collection of over £22 billion in
outstanding debt to that country's government."
Founded in 2004, Nottingham-based TDX is the leading established Recoveries
Management company in the UK. Its model using technology and analytics that
drive collection performance has delivered proven value to clients in the
Private and Public sector, and today's announcement builds on an existing
Public sector contract. TDX Group has established relationships with and
access to more than 55 suppliers who provide services ranging from debt
collection to enforcement services.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: NewsPress Releases
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in