Shawbrook outsources commercial mortgage portfolio to Target

08 November 2011

Written by Gavin Elley

Shawbrook - a specialist savings and loan bank - has outsourced some of its services to the Target Group.

All of the institution's commercial mortgage portfolio will be managed by Target, which will perform duties including arrears management, full account administration and customer servicing.

Shawbrook chief operating officer Nick McAuliffe said the outsourcing provider's "tailored approach and experienced team" will enable his company to increase the size of its balance sheet.

This should enable the "highly focused and agile specialist bank" to "provide a more flexible lending alternative" than some of the other larger financial institutions, he explained.

Before this transition occurred, Target was already providing Shawbrook with outsourced services for its unsecured and secured lending portfolios.

The bank's new business director Stephen Johnson recently argued that many small and medium-sized enterprises fail to consider all of their funding options when seeking financial assistance.

He recommended that these firms find a "good, professional broker" to help them.