Insurance and investment group LV= has signed a deal with Target Group under which the Cardiff-based software and processes provider will take control of the data management of LV=’s existing loan operation for a period of three years.
Target will manage the infrastructure that LV= uses for processing, account management, arrears management, and securitisation.
The firms have worked together since 1990, culminating in Target providing a fully managed service from March 2008.
Lisa Mundy, head of personal loans at LV=, says: “Target is able to provide a focused delivery proposition that reflects their broad understanding of our business and operating environment. Target is able to provide LV= with resilient systems, high quality service support, within an appropriate cost model.”