Credit Agricole Automotive Finance and Vesting Finance launch outsourcing partnership

With effect from 1 April, Credit Agricole Automotive Finance (CAAF) has outsourced the servicing of its arrears management to Vesting Finance (VF). This outsourcing follows a period of several months during which VF seconded some specialists to CAAF to maintain control over the arrears portfolio while preparing the migration.

Last year, CAAF made the strategic decision to outsource its receivables management process to a specialised partner. Outsourcing this process, apart from saving costs, immediately brings a professionalisation step, higher efficiency and a more stable workforce. After a relatively short implementation period of several months, the service was recently launched and the first positive results in both the backlog and customer satisfaction are already visible.

Frank IJntema, CEO CAAF:
‘By choosing Vesting Finance, we chose a partner with a clear specialisation in accounts receivable management. During the implementation period, Vesting Finance really acted as a specialist and is also a pleasant partner to manage the cooperation with. The choice to outsource was a strategically important decision, especially in view of our growth objectives for the coming period. With Vesting Finance, we have a partner that can grow along with our portfolio and where we are assured of a professional and compliant approach to our clients'.

‍Reza Atighi, CEO Vesting Finance:
‘Over the past year, we managed to secure some larger outsourcing mandates and we are delighted to now start working for CAAF as well. For Vesting Finance, this partnership is also of strategic importance because we want to strengthen our market position in the automotive sector. The first results in CAAF's portfolio show that we really offer added value directly, which gives us the right confidence that our growth objectives are realistic.'