Page 110 - KZN Top Business Portfolio 2018

DALY CREDIT CORPORATION

CEO: Andy McNabb
www.dalycreditcorp.com
DCC experienced strong growth in those early years
A LEADING DEBT COLLECTIONS
but following the introduction of the National Credit
COMPANY Act in 2007, the nature of the collections market
Daly Credit Corporation (DCC) specialises in consumer changed. Today, it is a highly regulated industry
credit debt collection and debt recovery, offering its operating in an economy where credit is accessible to
clients end to end debt recovery solutions from pre- those who are employed but who often do not have
legal call centre collections to legal action. any financial education.
Through its associate attorneys and national network Indeed, recent data from the National Credit
of correspondent attorneys, DCC offers its corporate Regulator (NCR) shows that there were 25m credit-
clients a cost effective debt recovery solution and active consumers who owed R1,7tr (March 2017).
high level of management information reporting. DCC 40% of these were “impaired records” – a debtor
subscribes to the LPO or legal process outsourcing who is three or more months in arrears on an account
model where expensive professional legal costs are only – which translates to two out of every five credit-
incurred when necessary and where the routine process active consumers. These records are handed over for
work is charged at inexpensive non-professional rates. collection to companies such as DCC.
The Daly Way
The business occupies a multi-storey building in Mount
Edgecombe, employs over 550 people and represents Due to its extensive experience, DCC is a market leader
the majority of the country’s major credit providers in with an established client base across a multitude of
the banking and retail sectors. financial services – from home loans to overdrafts,
credit cards and store accounts.
DCC relocated its business operations to these new
premises in 2017 and now occupies over 5000m2 with While clients judge success on collections performance,
the jewel in its crown being a 350 seat state-of-the-art McNabb says the business has never forgotten that
contact centre. Daly’s business is people.
According to DCC CEO Andy McNabb, the move “Using “know your customer” and “treating customers
was motivated by the vision to grow the company’s fairly” legislation as a departure point, our agents try
collections capability through formal skills training for to help people make affordable payment plans to pay
DCC and other third party businesses. He is optimistic off their debt,” McNabb explains. “We put people
that this initiative will continue to enable DCC to grow on the road to debt rehabilitation and give them the
its capabilities for the benefit of its clients which will in opportunity to turn their lives around.”
turn provide employment opportunities to people in McNabb believes this defines the “Daly Way” – the
the local community. company’s culture and approach that is deeply
Small Beginnings rooted in the business. “This speaks directly to our
The business opened its doors in Durban in 2001 with vision which is to be the most innovative, intelligent
less than 30 employees and a single client. McNabb and ethical consumer debt company in Africa. This
has guided our business for the past 18 years and will
says the company was born when he and his partner
Bill Daly decided to leave their legal practices to continue to be our North Star for the next 18 years”.
specialise in consumer credit debt collections which It also defines the nature of the people who Daly
had been experiencing exponential growth since 1994, employs. It is a special person who can balance company
in conjunction with the growth in credit lending. performance with empathy and understanding – and
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