Credit Agricole Consumer Finance NL and Vesting Finance launch outsourcing partnership.

Credit Agricole Consumer Finance NL (CACF) has outsourced the servicing of its loan portfolio in the Netherlands to Vesting Finance (VF). CACF is outsourcing its operational activities to implement further efficiencies in its operations. CACF chose Vesting Finance after a careful selection process, guided by KPMG. Vesting Finance offers specific knowledge in managing Consumer Finance portfolios, thus safeguarding the quality of CACF's existing services. Also an important part of this transaction is the transition of the staff involved.

Chantal

23/9/2024

•

1 min reading time

As of today, 23 September, Credit Agricole Consumer Finance NL (CACF) has outsourced the servicing of its loan portfolio in the Netherlands to Vesting Finance (VF). Over the past few months, CACF and VF teams have worked intensively together to ensure a successful migration and have been supported by Bolt it in terms of technical migration.

Already last year, CACF decided to outsource its operational activities to implement further efficiencies in its operations. After a very intense and careful selection process, guided by KPMG, CACF chose Vesting Finance to ensure the quality of its existing services and to benefit from the specific knowledge that Vesting Finance offers in managing Consumer Finance portfolios.

An important part of this transaction is the transition of the staff involved. The new colleagues transferring to Vesting Finance were welcomed this morning at the recently opened Vesting Finance office in Amsterdam, which was deliberately chosen in the same building where CACF has held offices for many years.

Frank IJntema, CEO CACF NL
'By choosing Vesting Finance, we chose a partner with a clear specialty in consumer finance servicing. During the RFP process and also in the subsequent period, Vesting Finance proved itself to be a reliable and professional partner with expertise in the entire chain of our service provision. The choice to outsource was a strategically important decision, especially in view of our obligations towards all our stakeholders. It is important for us to have a partner that is compliant with all applicable laws and regulations and at the same time agile enough to support us in the constantly changing consumer landscape in which we operate. We are convinced that we have selected the right party with Vesting Finance.'

Reza Atighi, CEO Vesting Finance:
'Over the past period, Vesting Finance has been strongly committed to providing high quality services for both our clients and their customers. We see CACF's choice for Vesting Finance as confirmation that our strategy is the right one. Naturally, we have worked together very intensively over the past period and got to know CACF as a very competent and pleasant partner. We are therefore very much looking forward to welcoming the new colleagues and serving CACF's clients.'‍