Tesco Bank transfers collections ops to Arrow Global

It will allow Tesco Bank to deliver an “enhanced service” to those struggling with their finances by providing the necessary support and flexibility they will need in the future. 

The partnership is expected to result in 236 roles transferring to Arrow on 1 November 2021, with the transfer being subject to a collective consultation process with the recognised trade union. It will also continue to have 1,700 customer service colleagues operating from its offices in Glasgow and Newcastle.

Commenting on the news, Tesco Bank’s chief executive Gerry Mallon said: “We take our responsibility to support customers in financial difficulty seriously and have an obligation to them to put in place the best support possible.  

“We believe that the partnership announced today with Arrow will improve the support we can give these customers, given their specialism in this area of customer service. We look forward to working with Arrow, and further improving the experience we offer to our customers in financial difficulty.”

Dave Sutherland, chief executive of Arrow Global’s asset management and servicing business, added: “As we continue to build our UK business, this partnership recognises Arrow’s track record in working compassionately with customers in financial difficulty, underpinned by our purpose of building better financial futures. 

“We are pleased to welcome our new colleagues, and the valuable skills and experience they will bring to our team, so we can continue to provide fair, effective, tailored services to support our customers. We’re looking forward to welcoming them on board.”