CRM awarded HSBC preferred supplier status

Cerberus Receivables Management (CRM) has been awarded preferred supplier status by HSBC UK.

It’s CRM’s third such accreditation by a leading nationwide bank – taking it’s tally up to three from the ‘big four.’ The Salford-based specialists in recovery and realisation of distressed assets and debt are already approved partners of Royal Bank of Scotland and Lloyds Bank.

To gain preferred supplier status from HSBC UK, CRM’s processes, financial reports and other operational areas were thoroughly audited – in terms of compliance, verification, reporting and Know Your Customer (KYC) – to ensure it can deliver and support HSBC UK’s business and that of its clients.

CRM is now a key procurement partner to the bank and is called upon by HSBC’s risk management team when its clients require expert and trusted debt collection and verification services.

CRM Director John Potts said: “It goes without saying that we’re delighted to have been awarded preferred supplier status by HSBC UK. For a company of our size and at our relatively young age – we’ve been operating for just over a decade – being recognised and accredited by three of the ‘big four’ UK banks is phenomenal. We’re very proud of the position we’re earned in the market in such a short space of time.

“A lot of hard work, care and attention to detail has gone into our building such a reputation, which is founded on our client service levels, collective experience and the really robust processes that underpin our organisation.

“The team has long been recognised and appreciated by our clients, and it’s great that we’re now also getting the official recognition we deserve from the nation’s top finance institutions.”