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Borro

How to EnterCompany: Borro, London, United Kingdom
Company Description: borro is the UK’s leading personal asset lender. Loans of up to £1,000,000 can be offered against assets including fine art, antiques, prestige cars, luxury watches, diamond jewellery, gold, yachts, fine wine other high value assets.
Nomination Category: Customer Service & Call Center Awards Team Categories
Nomination Sub Category: Front-Line Customer Service Team of the Year

Nomination Title: borro's High Value Customer Service Team

Tell the story about what this nominated team achieved since the beginning of July 2010 (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:

In June 2011, as demand for high-value personal asset loans continued increasing
month-on-month, the High-Value Customer Service Team (HVCS Team) was formed to
provide a personal VIP service to effectively serve our high-value customer
base.

The HVCS Team consists of 4 members, each of whom is assigned as a Personal
Account Manager to borro’s high-value customers.

While borro’s offering allows its customers to go through the loan process
online with little human interaction, the HVCS Account Managers provide full
support to their customers at all stages of the loan process and customers are
able to contact their Personal Account Manager on a direct line.

Account Managers place an application on a customer’s behalf and speak with
valuers and expert partners (e.g. auction houses) to provide the customer with a
provisional valuation and set expectations upfront.

Selecting from an appointment, home visit or courier collection, Account
Managers advise their customers on the most suitable option to get the assets to
borro’s expert valuers for appraisal.

The HVCS Team members often go above and beyond their call of duty to deliver a
first class service to their customers. Examples of this include:

•A member of the team flew to Geneva together with borro’s expert valuers
to meet with a customer, a meeting which concluded with the close of borro’s
first £1 million loan

•A member of the team spent the morning of a day off closing a loan
against a car. At the customer’s request, she met with him prior to the
vehicle’s pick up and accompanied them to the specialist car storage facility
where she enabled the customer to complete the loan promptly by accepting the
loan contract on location using her iPad

•On a Saturday whilst out shopping with friends, an Account Manager spent
most of the morning closing a customer’s loan in time for the daily payment run

•A customer called her Account Manager on a Sunday as she needed funds
quickly. The Account Manager went through the customer’s previous loans, found
an asset to meet the amount required and arranged its collection for Monday
morning. The customer had the money she needed in her account by Monday
afternoon

Thanks to the dedication of the HVCS Team members and the excellent service they
provide their customers, in the 6 months the team has been running, the
company’s high-value user base has grown by 238% while the value of high-value
loans has seen a 307% increase.

The HVCS Team is also dedicated to providing personal account management to
borro’s financial intermediaries and their referred customers, both of whom
often praise the service they receive and recommend borro to friends and
colleagues. borro now has over 1,800 intermediaries signed up to their
Introducer programme - an increase of 200% in the final quarter of 2011, and it
has experienced a 500% increase in high value loans generated from financial
intermediaries.

List hyperlinks to any online news stories, press releases, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:

Case studies

Proof of the team’s high levels of customer satisfaction can be seen in the
testimonials both written and filmed on our website:
http://www.borro.com/in-the-news/national-news
http://www.borro.com/testimonials-reviews
http://www.borro.com/introducer/case-studies
http://www.borro.com/introducer/videos

Customers

Andrew Naylor, GP, West Sussex –
“It took a whole lot of worry out of my hands. I had complete confidence in the
service and everything that was promised was delivered. The forms were
uncomplicated and crystal clear. borro’s staff were understanding and didn’t
hassle me which was great. I was incredibly impressed with the clarity and ease
of the overall process. I would definitely use them again… I wouldn’t use anyone
else.”
http://www.borro.com/introducer/case-studies/andrew-naylor

Boudicca Scherazade, Antique Buyer, Hampton
“borro’s service was outstanding from start to finish. From the friendly
telephone service to the high value they offered me against my jewellery, I
couldn’t fault them.” http://www.bbc.co.uk/news/business-10974721

Francine Levinson, Property Developer, London
“The valuer was very professional, and it was a friendly and relaxed atmosphere.
When you normally try to get a loan elsewhere you are made to feel bad about
your situation and have to apply to all their rules, making sure you can repay
when they want you to and you have to go through all the credit checks.”
http://www.telegraph.co.uk/finance/personalfinance/borrowing/8260060/I-pawned-my-
Bugatti-watch-for-6000.html

http://www.borro.com/about-us/videos/reuters-video


Financial Intermediaries

Matt Tristram, Secured Loan Broker, Loans Warehouse
“Finding conventional funding for clients with any kind of problem is difficult
and that is why the borro service gives us another avenue to explore. Our client
is solvent but like a lot of self-employed business people, has had to work hard
to keep her business running.” https://www.borro.com/introducer/case-studies/matt-tristram

Robin Timms, Asset Finance Broker, UK Asset Solutions
“The service received by my client and myself was first class. From the first
enquiry, the professionalism of the borro team was outstanding. They ensured
that communication was maintained at all times and everything ran smoothly. My
client was extremely satisfied with the outcome as he now has the funds he
required, knows his pictures are safely deposited and that he can redeem them at
any time without penalty. I shall definitely be recommending borro in the future
for clients in need of short term funds in a hurry.”
http://www.borro.com/introducer/case-studies/robin-timm

Erik Cornish, Financial Healer
“Tony called me after he visited borro and said it was amazing and very
professional. Tony was there for two hours and then walked out with a cheque. I
have clients who have gone through bankruptcy and eventually want to rebuild
their career again. Often these clients have a number of high value assets. It
doesn’t make sense that these cannot be used to raise finance due to
increasingly strict lending policies. I see borro as being part of the final
journey helping them rebuild their lives.”
http://www.borro.com/introducer/case-studies/financialhealer


Customer satisfaction survey

http://www.borro.com/about-us/customer-satisfaction-survey

borro’s on-going customer satisfaction survey shows that:

• 99% of borro’s customers found borro’s service easy to use
• 84% of borro’s customers were happy with the loan amount offered
• 98% of borro’s customers were impressed with the speed of borro’s service
• 95% of borro’s customers would use borro again
• 97% of borro’s customers felt they were provided with enough information
throughout the loans process
• 94% of borro’s customers would recommend a friend

 

Provide a brief (up to 100 words) biography about the leader(s) of the nominated team:

Heather is one of borro’s first employees and now manages our high value
customers and relationships on an internal basis. Prior to working at borro,
Heather worked at Advantage Cellular and Unique Distribution. She has always
been work orientated and her industry and sales knowledge proves to be an asset
to borro's High Value Customer Service Team.