Interview with James Cornell, founder and CEO of Lowell Group
Why should businesses choose Lowell as their Credit Management Services (CMS) provider?
Lowell is one of the largest CMS businesses in Europe and we offer a unique combination of advanced data analytics, behavioural insight and award-winning customer service to deliver sustainable outcomes for consumers and clients alike.
Our clients know that we tailor our services to their sector and the legal and regulatory framework they operate within, to deliver results and to protect their reputation. Their customers know that we will treat them fairly and with respect. The result is that our approach delivers for all involved.
"I founded the business because I had a clear view that collections could be done better - with greater focus on the understanding consumers’ circumstances."
What makes Lowell different?
I founded the business because I had a clear view that collections could be done better - with greater focus on the understanding consumers’ circumstances and motivations in order to take the right approaches for best outcomes for all. That central view still stands.
We take this view and tailor our approach to fit with local cultural, legal and regulatory differences. We are able to leverage a huge amount of data thanks to the work of some of the leading minds in behavioural insight, so that we make good decisions for consumers, which in turn are good for clients.
Your mission is to ‘make credit work better for all’, what do you mean?
Our economies rely on credit to operate effectively. There is a cycle of credit which if it is blocked at any point means that it is not working as well as it could – if people do not make payments, those extending credit cannot afford to carry on doing so either at all or at the same cost, this then affects anyone who wants credit and the economy is affected.
Our role is help that cycle run smoothly by improving the efficiency and effectiveness of payments – providing best in class collections solutions or buying portfolios to improve capital management.
"Our role is help the cycle of credit run smoothly by improving the efficiency and effectiveness of payments."
Why is being ethical important to you?
Firstly, I think being ethical is a result of what we do, rather than the driver of what we do. We do not think “what is the most ethical thing to do?” We think “what is the right thing to do in these circumstances for this consumer?” We start with the consumer and work from there to identify how we deliver the best solution – that goes for clients too. The solutions are ethical because we are trying to make the relationships as easy as possible, and mutually beneficial.
"We think “what is the right thing to do in these circumstances for this consumer?” "
Lowell is one of Europe’s largest credit management companies with a mission to make credit work better for all. It operates in the UK, Germany, Austria, Switzerland, Denmark, Norway, Finland, Sweden and Estonia.
Lowell’s unparalleled combination of data analytics insight and robust risk management provides clients with expert solutions in debt purchasing, third party collections and business process outsourcing. With its ethical approach to debt management, Lowell always looks for the most appropriate, sustainable and fair outcome for each customer’s specific circumstances.
Lowell was formed in 2015 following the merger of the UK and German market leaders: the Lowell Group and the GFKL Group. In 2018, Lowell completed the acquisition of the Carve-out Business from Intrum, which has market leading positions in the Nordic region. It is backed by global private equity firm Permira and Ontario Teachers’ Pension Plan.
For more information on Lowell, please visit our investor website: www.lowellgroup.com