Teleperformance Announces Acquisition of UK Debt Collection Agency Improved Financial Solutions

Teleperformance, the world’s leading provider of outsourced contact centre and CRM solutions, today announces it has acquired the major shareholding of Leeds based Improved Financial Solutions (IMFS) to further strengthen its debt collection offering.

IMFS was established in 2004 and is an award winning debt collection agency with over 40 staff dealing with both prime consumer and commercial debt collection. The debt types serviced include credit cards, store cards, current accounts and loans on behalf of some of today’s leading high street brands and hotel chains. Over the past 3 years, consumer debt collections from the financial services sector has accounted for between 85% and 95% of IMFS’ total annual income. Denise Crossley, Co Founder of IMFS, will continue as Managing Director.

Jeff Smith, Chairman and CEO of Teleperformance UK, comments “We are delighted to announce the acquisition of IMFS. It is a highly professional collections agency and will give us new service offerings and leading technologies with which to continue to serve yet better our clients and their customers during this tough economic climate. We are also delighted to have Denise Crossley joining our Teleperformance senior team and to be benefitting from her extensive knowledge and expertise in this sector.”

Over 25,000 people are employed in the UK in debt collection and according to the Credit Service Association (CSA) that figure is set to rise rapidly as the effects of the recession continue.

Smith confirms that this is something that Teleperformance also sees: “Most of the work in this sector is telephone based and we are finding with our expertise and training abilities we are able to create long lasting relationships with customers, who approached in the right way, are fully prepared to work out ways that they can better manage and settle their debts.”