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No worries Franky.
Thaw - I've posted my comment about complaints again under a new thread.
Sorry Jimmy!!! I apologise:-) I get feisty sometimes but never mean any malice!:-)
agree Thaw...I hope the complaints can be dealt with and that a definitive line can be drawn..i really hope there isn't some undefinable drip of complaints...october this should be over..!!!
No worries Franky - I definitely wasn't suggesting that Amigo has a PPI problem! I don't think they ever sold it :-)
Frankly - I like you point about PPI. Hadn't considered that.
Either way, the point is that these complaints are not insurmountable. Amigo will deal with them and would have a more robust scoring system when lending to new customers. Less default in payments from better customers is going to lead to better P&L.
TBF Jimmy i just went further down the thread so doesn't look like you're suggesting Amigo has PPI problems..at least I prey to God you're not starting that suggestion up??ha
Don't be such an absolute spanner lol!!!! Seriously Jimmy if PPI was an issue it would be illegal not to have reported it.
Further not one complaints handler via a 3rd Party is going to based in Bournemouth mush..its all done remotely and finally as a recruiter in exactly this space you're never EVER going to put on a public advert a role that says "Guarantor Lending" . Hey...why not call up all the other recruiters and just invite them to start filling your roles LOL. If I wanted an experienced complaints handler i'd ask for PPI experience which is where all the Last and most Recent experience is. Stop reading sh8t into shi8t its just daft.
Jimmy - yes, you could he right. But also wanted to point out that the Amigo BOD have easy access to these kind of resources to deal with complaints which is of course very positive.
The way I see it complaints are a huge part of Amigo's current situation on share price along with re-lending and P&L growth.
Could you share what you posted again? I wasnt able to be very active on the BB yesterday as work was rammed! Haha
Jimmy - yes, you could he right. But also wanted to point out that the Amigo BOD have easy access to these kind of resources to deal with complaints which is of course very positive.
The way I see it complaints are a huge part of Amigo's current situation on share price along with re-lending and P&L growth.
Could you share what you posted again? I wasnt able to be very active on the BB yesterday as work was rammed! Haha
The advert in the link is for PPI complaint handlers. If Amigo has a PPI problem as well as affordability complaints, that is new news. And not in a good way.
I don't think either of these are Amigo - they refer to payday lenders and high-cost short-term credit. Amigo has never offered either of those products.
Thaw, I posted some thoughts about complaints volumes yesterday and there wasn't much follow up discussion about that either. I thought there might've been a few more posts, even if to tell me I was wrong (which I may be!)
Forhee - exactly. They cant say names, but all the clues are there..
Viking - Huntswood is the company who is the 3rd party company being hired to deal with the complaints. Under NDA, some companies cant share client names in case studies.
"Does not refer to Amigo" - go on LinkedIn. Find this company. Look at the post for this case study. Look for all the "liked" reactions - you will see Amigo claim handlers. Not 100% proof of course but will be interesting to hear why you are categorically dismissing it with certainty as not being for Amigo?
Looks like Huntswood were looking for complaints handlers in Bournemouth though. Hmmmm. : )
https://recruitment.huntswood.com/job/ppi-complaint-handler-in-bournemouth-dorset-jid-707
Thaw ...... that is because it is referring to Huntswood FTE , as is mentioned in the sentence starting " Delivering over c.200 " ! That article does not refer to Amigo, so consequently, nobody here is discussing it.
I think it’s fantastic news. But we need to know it’s referring to us. Rns should be put out as that is allowed. I think. But great news if it’s us. On the ball not head in the sand. Cheers for sharing.
Thaw. Good find! I’ve been doing work work, as I’m sure a fair few here do. Check the board when I can.
This could be pivotal for the future state of the company. Any uncertainty is surely dispelled on these kind of numbers and evidence of working with the regulator.
Hmm, a bit surprised by the lack of responses from BB on this news..
We were at 9000 complaints by end of 2019 and the BOD said we've seen a substantial increase, but if we can hire external companies to help and knock out 5K complaints - this particular "issue" looks like it could be sorted out in time..
Just putting the below here for everyone as I've found something very interesting (pretty sure it's for you know who):
CASE STUDY | HIGH-COST-SHORT-TERM LENDER
COMPLAINT HANDLING BACKLOG
Our team of 20 specialist complaint handlers was rapidly deployed to set about reducing a backlog of c.5,000 complaints within 6 months.
Delivering over c.200 case closures a month and outperforming other teams, the Huntswood FTE was scaled up to c.85 to accommodate further capacity.
The client commended the sustained high performance, collaborative approach, and ultimately the quality and speed of delivery. Subsequently extending the contract beyond its initial term.
CASE STUDY | PAYDAY LENDER
UNDERTAKING A SKILLED PERSON REVIEW
A large high profile payday lender was required to appoint a skilled person to assess policies, processes, and compliance in alignment with the FCA’s regulations regarding fair customer outcomes.
The unique project required a specialist team who reviewed c.140 complaint files, conducted 17 leadership interviews, and assessed 40+ documents over 4 weeks, all the while keeping the FCA abreast of activities.
The collaborative, no surprises approach of the Huntswood team delivered the project on time, on budget, and to the satisfaction of the regulator.