1991 – 2002: Pioneering a new industry
Aktiv Inkasso AS was established in Norway in 1991 focused on helping local banks service their loan portfolios on a contingency basis. In 1996 Aktiv merges with Retro Invest to manage a larger pool of accounts for various Norwegian banks. As the company expands beyond Oslo, it acquires several businesses in the Nordic region. The company name is changed to Aktiv Kapital as it begins to acquire and service its own portfolios in Norway, Sweden and Denmark. In 1996 Aktiv Kapital obtains a credit institution license from the Swedish financial authority. AK Nordic AB is licensed to conduct cross-border lending and factoring activities in various specific European countries.
2002 – 2007: Delivering value to creditors around Europe
Aktiv Kapital becomes a major player in acquiring nonperforming debt from international creditors in Scandinavia, the UK and Germany. The footprint in Europe is further strengthened by its acquisition of Olympia Capital ASA with operations in Austria, France, Switzerland and UK. Aktiv expands into Spain by acquiring Treym Consulting and goes transatlantic with the acquisition of Portfolio Management Group in Canada. To better serve creditor needs, Aktiv Kapital becomes more sophisticated in collection methods, focusing on structural investments such as data warehouse, business intelligence, scoring and valuation methods.
2008 – 2014: Customer-centricity and the financial crisis
As the financial crisis hits, the volume of nonperforming loans in Europe increases dramatically. This also leads to enormous interest in European distressed debt, triggering competition across the markets. In the UK, Portfolio Recovery Associates, Inc. (PRA) acquires a debt purchasing and contingency collections company based in Scotland. Aktiv’s focus becomes oriented towards operational excellence, customer-centric collections, industry-leading analytics and expansion into new segments. Customer-centricity in particular becomes a focus area, and Aktiv begins leveraging customer research as well as consumer-oriented repayment solutions to help customers resolve their debts.
2014: Aktiv Kapital is now PRA Group Europe
In July of 2014, Aktiv Kapital joined PRA, which became PRA Group, offering comprehensive multinational solutions to global banks and credit issuers. PRA Group Europe brings to debt sellers 20 years of US operational expertise across a broad European footprint. And with strong funding, a focus on analytics, data and fair customer treatment, PRA Group Europe is now a leader in acquiring and servicing nonperforming consumer debt across Europe.