The Special Investigation Unit (SIU) at Synectics Solutions has unveiled a new dedicated intelligence offering to support motor finance providers.
With fraud and the associated bad debt expected to increase due to a looming recession and inflationary pressures, this new offering aims to help motor finance providers recover lost money.
In fact, more than one in ten adults aged 25-44 admit that the cost-of-living crisis might cause them to default on finance repayments .
In addition to boasting a highly experienced team, Synectics’ SIU can tap into a wealth of unique data assets which provide unrivalled intelligence to help locate the purchaser/ hirer and expedite the recovery of the vehicle or identify suitable assets where the vehicle has been disposed of.
This includes syndicated cross-sector risk intelligence data from National SIRA – the largest database of its kind in the UK – which supplies unrivalled insight that can stop fraudsters in their tracks and recover bad debt.
The unit is headed up by fraud investigation expert Chris Hallett. He said:
“We are delighted to be offering a dedicated intelligence offering to support motor finance providers. With fraud and bad debt already on the rise, the launch of this offering is particularly timely.
“The Special Investigation Unit was set up to provide fast and cost-effective intelligence that compliments your in-house resource and expertise, allowing you to draw on our pool of knowledge and experience when your business needs it – whether that be ad hoc standard reports, complex fraud or organised crime group analysis, or large volume, outsourced investigations.
“With over 30 years’ experience in fraud and financial crime prevention, Synectics count the biggest names in financial services, insurance and vehicle rental as clients.
“What’s more, we run a ‘no-find-no-fee’ arrangement for standard reports whereby if we are unable to find information above and beyond what the client has already loaded into SIRA, then we do not charge them.”
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