The Board of Appeal informed on 7 December that they have overturned the Financial Supervisory Authority’s decision to withdraw the license to carry out debt collection, and Collectia is consequently upheld by the board.
This is good news, and a confirmation that the work and the measures carried out through 2023 have had an effect.
In May, NFSA wanted to withdraw the company’s license to carry out debt collection, based on the inspection carried out in the autumn of 2022. Collectia appealed the case to the board of appeals and on 7 December 2023 the conclusion was in place.
The Appeals Board ruled in favour of Collectia and we are therefore keeping the licence. The tribunal particularly highlights Collectia’s extensive change measures over the past year as a central part of the conclusion.
– It is not surprising that we are keeping the licence, because I firmly believe that the measures that have been implemented have been good and effective. At the same time, we are grateful that the tribunal assessed the company on the basis of the work that has been put in, says Christian Mysen, who was appointed as the new general manager in May of 2023.
In the past year, Collectia has made significant changes at the highest level in the organisation, changing and improving systems, as well as establishing new frameworks for risk management and internal control. The investments made in operations put the company in a very good position for growth in the Norwegian market in the coming years.
– We are now looking ahead to 2024. We have a highly competent organization in place in Norway, a solid group behind us and all the prerequisites to achieve our ambition to become a market leader in the Norwegian market as well.
The investments in infrastructure have been completed, and we are entering the new year with growth ambitions, concludes Mysen.
CEO of Collectia Group, Anders Rosenbeck, is satisfied with the decision of the appeal board and has clear ambitions for growth in the Norwegian market.
– With Christian in place as general manager in combination with heavy operating investments, we have a unique opportunity to grow in the Norwegian market. We have delivered very good results in Sweden and Denmark – now we will carry out the same growth journey in Norway.