A CHESTER company is home to one of Britain’s most accomplished risk management teams, a major finance conference in London heard.
The Funding Corporation was revealed at the annual summit of the credit industry as having gained one of three top places in this year’s Credit Excellence Awards.
The awards, announced at the conference, saw the Chester Business Park company excel in the category, which highlights firms best able to assess and guard against risk.
Competitors ranged from public sector service group Capita to leading financial institutions and major commercial names such as Volkswagen.
The Funding Corporation’s place among the top three UK firms in its category was agreed after an independent analysis of how it takes steps to guard against business threats.
They include a sophisticated system of ensuring that people given loans for car purchases – its core business – are well positioned to afford repayments, despite many having a poor credit history.
The firm uses a combination of advanced technology, such as airport-style scanners to verify ID documents, and the skills of specially trained anti-fraud staff based at Chester.
Last year the company reported it successfully identified almost 500 cases of suspected fraud, representing about £3.2m of bogus loan applications.
Managing director David Challinor, who was invited to London for the event, said he was delighted to see his management team commended in the Credit Excellence Awards.
“Receiving this national recognition is a tribute to their professionalism,” he said.