Credit Provider Winners at the Debt Review Awards 2017
The annual Debt Review Awards recognises those firms working hard to make a success of debt review and reveals the results of an industry-wide peer review. At the Awards Gala this year, the results of the peer review conducted among Debt Counsellors (about credit providers) were announced and Capitec Bank were the big winners on the night.
Other big winners on the night were outsourced debt review service provider; Consumer Friend. In a repeat of previous years, they once again took the top spot among retail credit providers and large non-bank credit providers (against stiff opposition from firms like SA homeloans, Old Mutual, Mr Price Group and Tenacity). Consumer Friend have consistently been highly rated for their service by Debt Counsellors for several years and recently launched a new offering called the Debt Review Exchange (DReX) which promises to make Debt Counsellor’s lives much easier.
‘Consumer Friend have consistently been highly rated for their service by Debt Counsellors for several years’
The vehicle category has throughout the history of the Debt Review Awards been one of the tightest and most hard-fought categories and this year this was once again the case with the small pool of service providers rating quite close once again. At the end of the day, MFC came out with the top rating by the peer review knocking last year’s winners Wesbank from their throne.
Among the banks – which is always a hotly contested segment of the Awards, Capitec took the top position. Capitec deal with a slightly smaller portfolio of types of products than many other banks since they specialise in short term loans and (to a small degree) credit cards. They do not focus on homeloans like many of the other banks and firms like SA Home loans (not a bank). Their service, however, is held to the same exacting standard that Debt Counsellors desire to see from all the large BASA members. This year they received the highest rating by Debt Counsellors.
‘African Bank received recognition for the most improved debt review department over the last several months’
African Bank received recognition for the most improved debt review department over the last several months. Though not perfect, Debt Counsellors indicated that their service offerings in regard to debt review are now in a much stronger place than in previous months.
Congratulations to all the winners in this year’s Credit Provider Categories.