Giving creditors access to a new level of knowledge about consumers in arrears, to inform debt collection agency (DCA) allocation decisions and arrears management activity, HeliX members have already seen a 94% uplift in aligning accounts to a matched agency since its full launch in May 2012.
Grove Capital Management, a distressed asset investment fund, will contribute arrears data across financial services, utilities and telcos to further enrich the data exchange.
Ross Cox, Investment Director at Grove Capital Management commented: “Joining HeliX is a step forward for us as we continue to help creditors release value and reduce the risk of holding insolvent consumer assets. We look forward to understanding more about our customers and thereby maximising the return for our investors in this market.”
Elliot Jackson, Director of HeliX, said, “Welcoming Grove Capital Management to HeliX is a pleasure. Their consumer data specifically for individuals who have entered insolvency complements existing industry data in the exchange, which will augment knowledge of each consumer and amplify accurate matching immeasurably.”