Conister Bank is the Isle of Man’s only independent bank, established in 1935 it has a core focus to provide for the financial needs and aspiration of the Isle of Man community
Largely unaffected by UK banking problems Conister Bank saw a huge increase in customers and savings deposits during the banking crisis. Conister prides itself on integrity and sound financial judgement; still making local lending decisions based on its unrivalled knowledge of the Isle of Man community.
To achieve the desired returns and continue to meet and exceed customer expectations the Bank was evaluating new investment opportunities to support increased customer deposits; they were recommended to approach Marsh Finance.
Marsh Custom created a tailored turnkey solution which underwrites motor finance loans in the UK for Conister Bank.
The Marsh Custom solutions includes Marsh providing the car finance customers, managing the loan application process, collecting out the receivables book and providing full transparent real time information to Conister bank.
The Conister Bank car finance portfolio is achieving high returns with virtually no bad debt.
The Bank benefitted from immediate access to the car finance sector with no start up and compliance costs.
Marsh Finance met all of the Banks rigorous auditing and compliance processes demonstrating a clear ability to provide car finance loans on behalf of the Bank and reflect their excellent financial management and high standards of customer service