As we eagerly turn the calendar to 2024, let’s take a moment to immerse ourselves in the profound journey that defined 2023 as a truly exceptional year for Jefferson Capital. Today, Jefferson Capital Systems reviews its triumphs of 2023.
In the realm of financial endeavors, 2023 stands as a remarkable testament to Jefferson Capital’s unwavering commitment to growth, innovation, and strategic evolution. As we bask in the glow of historic milestones, it’s essential to recognize the concerted efforts and investments in expanding our financial capacity to meet the burgeoning needs of our existing clients, as well as to welcome a record number of new clients into our fold. Jefferson Capital System reviews constantly express how our drive to strengthen partnerships with clients, service providers, capital providers, and associates has been the cornerstone of our success for over 20 years.
A New Home
The symbolic significance of a home resonates deeply, and in 2023, Jefferson Capital embarked on an exhilarating new chapter by transitioning our primary operations from the familiar embrace of St. Cloud, Minnesota, to a new location just a few miles away in Sartell, Minnesota. More than a mere change of address, this relocation is a profound testament to our adaptability and commitment to evolution. Our new space not only mirrors our expansive growth, but also provides a dynamic environment fostering improved innovation, enthusiasm, and collaboration among our dedicated team of professionals.
Enhancing our Capital Strength
Navigating dynamic financial markets requires strategic foresight, and Jefferson Capital has demonstrated just that by placing a strategic emphasis on expanding our revolving credit facility. The enhancements made throughout 2023 underscore our commitment to financial prudence and profitability, ensuring sustained financial capacity and strength for years to come. These enhancements include the following changes, among others:
- An increase in aggregate commitments under the RCF from $600 million to $750 million with the incremental capacity going into the U.S. Subfacility
- The addition of one new Joint Lead Arranger
- A reallocation of additional $50 million from the Canadian Subfacility to the U.S. Subfacility
These expansions are not mere numerical entries; they represent a vote of confidence from some of the world’s largest and most respected financial institutions. At a time when other debt purchasers grappled with maintaining their debt capacity, we not only increased ours, but also added several significant financial institutions to our syndicated credit facility.
Strategic Expansion
To add more value to our clients, 2023 saw Jefferson Capital strategically expanding its operations and footprint. The acquisition of MoriartyLaw in the UK aligns with our dedication to excellence and innovation, always prioritizing the well-being of consumers. Beyond the shores of the UK, our geographic reach expanded in Latin America with portfolio acquisitions and the launch of our platform in Bogota, Colombia. These strategic moves position Jefferson Capital as a global force in the financial landscape.
Technological Growth
Artificial Intelligence is reshaping the landscape of the accounts receivable industry, offering unparalleled opportunities for efficiency, personalization, and compliance. Jefferson Capital Systems reviews their team of internal software developers to ensure they remain the best in the business. They have combined their expertise with the deep knowledge and experience of our business analysts and operations leaders to develop truly one-of-a-kind proprietary systems for Jefferson Capital that incorporate AI into their operations. These systems allow us to manage over 44 million accounts with the highest levels of confidentiality, integrity, and availability of data.
- CUSTOMERCARE SOLUTIONTM: This specialized interface allows our associates to promptly provide customer centric resolutions to any account holders who may contact us with unique concerns or issues.
- RECOVERY SOLUTIONTM: This proprietary tool is used daily to guide our associates as they listen to customers and craft individual recovery solutions.
- PRECISIONHANDLER SOLUTION®: This custom web-based application allows our associates to accurately and consistently analyze and resolve both written and verbal disputes through the use of artificial intelligence.
- VERICREDIT®: Jefferson Capital developed this proprietary tool to provide more efficient, accurate, and effective investigations and responses to consumer credit reporting inquiries, further allowing for specialized investigations by our individual business units.
Jefferson Capital Systems, through its strategic and responsible integration of AI, stands as a beacon of leadership, setting the standard for an industry where technological innovation converges with ethical and consumer-centric practices. The company’s commitment to staying at the forefront of technological innovation ensures that AI is not just a tool, but a catalyst for transformative and ethical debt recovery practices. As the industry and the world continue to adjust to the new realities of AI, the responsible use of AI in debt collection will be pivotal, and Jefferson Capital Systems is leading the way toward a future where efficiency, compliance, and consumer well-being coalesce.
Jefferson Capital Systems Reviews Our Partners
No success story is complete without acknowledging the crucial support of our partnerships. A heartfelt appreciation extends to the record number of new clients welcomed in 2023 as well as our renewed and expanded client partnerships for their unwavering collaboration. Financial stability is a critical aspect to consider when choosing a debt buyer partner. A financially stable partner will have the necessary resources to invest in the collection process and maximize the recovery of outstanding amounts. Partnering with a reliable and competent debt buyer can significantly enhance the effectiveness of the receivable sales process and improve the chances of maximizing recovery from outstanding accounts. Active management of receivables is an important component of every business that cannot be overlooked. Partnering with a reputable, experienced, and knowledgeable third party with decades of experience in recoveries can result in lower costs and enhanced returns on receivables. Jefferson Capital has become a leading buyer and servicer of charged-off and bankruptcy receivables across the United States, Canada, and the United Kingdom through being a trusted partner with our clients. Our expert valuation team works with large and small companies to identify solutions for their receivables. They routinely work with companies and individuals who are new to debt purchasing and sales, and partner to tailor solutions that fit their needs.
Equally critical are our alliances with strategic vendors, which are pivotal in ensuring the success that came to define 2023. Through these partnerships, we fortify our standing in the market while opening doors to new possibilities.
Jefferson Capital Systems Reviews its Continued Commitment of our Associates
The growth and success witnessed in 2023 are a testament to the unwavering commitment, resilience, and hard work of our expanding team of associates. Despite economic challenges and the aftermath of a global pandemic, their determination and collaborative spirit propelled us to new heights. Their innovative ideas, tireless efforts, and positive energy contributed significantly to our success, underscoring the blessing of having such a talented and committed team.
As Jefferson Capital’s growth continues, we are looking for new associates to join our exciting team. Jefferson Capital offers a diverse range of career opportunities, from data analysts and compliance specialists to customer service representatives and IT professionals. We recognize that diversity is our strength, and we actively seek individuals with varied talents, perspectives, and experiences. It’s through this diversity that we foster innovation and create a workplace that reflects the rich tapestry of the global community. We believe in investing in our employees’ success. Whether you’re just starting your career or already have years of experience, Jefferson Capital provides opportunities for continuous learning and development. Our training programs, mentorship initiatives, and professional growth opportunities are designed to empower our associates to reach new heights in their careers.
Jefferson Capital understands that a healthy work-life balance is crucial for employee well-being and productivity. We are committed to providing a workplace where individuals can excel in their professional roles while maintaining a fulfilling personal life. Our flexible work arrangements and supportive policies reflect our dedication to fostering a harmonious balance between career aspirations and personal commitments. Beyond our office walls, Jefferson Capital is actively engaged in community initiatives and social responsibility through its work with the United Way. We believe in making a positive impact not only in the accounts receivable industry, but also in the communities where we operate. Joining our team means being part of a company that values corporate citizenship and actively contributes to societal well-being. We encourage talented individuals with a passion for innovation, integrity, and excellence to explore our current job openings. If you are looking for a new career adventure or know someone who is, please visit our careers page Join Our Team | Jefferson Capital Systems, LLC (Jefferson Capital.com) to discover opportunities that align with your skills and career aspirations. At Jefferson Capital, we’re not just offering jobs; we’re inviting you to be part of a journey where your career ambitions meet limitless possibilities.
Jefferson Capital Systems Reviews Giving Back to Our Communities
In 2023, Jefferson Capital continued with its tradition of supporting community outreach efforts. Recognizing the importance of giving back and supporting local communities, Jefferson Capital has been partnered with the United Way since 2002 to make a positive difference in local communities. Recognizing the significance of being charitable, the company has consistently donated over $25,000 annually to United Way, amounting to a remarkable total of approximately $600,000 to date. This ongoing commitment has not only benefited the employees of Jefferson Capital, but also had a positive impact on the wider community.
One of the key areas where Jefferson Capital has focused its community outreach is financial literacy and education. Jefferson Capital understands that financial knowledge is crucial for individuals to make informed decisions and achieve long-term financial stability. To address this need, employees of the company have organized workshops and seminars in collaboration with local community groups. These financial literacy programs cover a wide range of topics, including budgeting, debt management, and credit building. By providing accessible and practical information, Jefferson Capital empowers community members to take control of their finances and work towards a better future. These workshops have been well-received, with participants appreciating the valuable insights.
Jefferson Capital has also demonstrated its commitment to supporting local charitable organizations and initiatives. Through its partnership with the United Way, the company and its employees have contributed resources and financial support to causes that align with their values and goals. Whether it’s providing donations to food banks, sponsoring educational programs, or supporting housing initiatives, the company’s contributions have made a positive impact on the community.
Jefferson Capital Systems Reviews our Core Values
Jefferson Capital is dedicated to fostering a thriving organizational culture that embodies its core values of integrity, respect, fairness, compliance, and communication. In 2023, the company reaffirmed its foundational principles of listening, identifying solutions, and “Doing the Right Thing.” These core values unite the Jefferson Capital team around the organization’s mission and vision, empower stakeholders to shape expectations, and demonstrate leadership’s commitment to individual team member growth and development.
Jefferson Capital conducts its business in an honest and ethical manner, promoting integrity as a fundamental part of “Doing the Right Thing.” The Company put these values into action by adopting both a Code of Ethics Policy and a Collector Code of Ethics, which apply to all associates. Included in the policy is the requirement that all job duties are to be conducted in accordance with sound moral and ethical standards. The Company maintains a culture and corporate environment that promotes high ethical standards and compliance with all applicable laws and industry and community standards, including policies related to anti-corruption, anti-competition, anti-bribery, and anti-money laundering practices. To ensure alignment between its core values and its business practices, the Company expects its vendors and stakeholders to operate in full compliance with both the spirit and the letter of the laws, rules, and regulations that govern the consumer collections process and servicing. In order to verify that its vendors are maintaining these values and their vision, Jefferson Capital engages a third-party vendor to listen to and monitor telephone communications with consumers to ensure that they are constantly treated with respect and dignity by vendors and internal staff. Jefferson Capital employs an experienced and dedicated Consumer Relations staff to monitor any and all claims or complaints from consumers concerning the handling of accounts both internally and externally. The Consumer Relations staff is empowered to take immediate action if required on any account where a question or concern may be raised. By upholding high ethical standards, the Jefferson Capital team is united in their commitment to maintaining the trust of consumers, colleagues, clients, and partners.
A Heartfelt Thank You
As we reflect on the myriad accomplishments of 2023, one thing is clear—Jefferson Capital is now bigger and better than ever before. Amidst our growth, our passion and values remain steadfast, grounded in the principle of always doing the right thing for consumers, clients, vendors, and associates. These principles have been the guiding lights of our journey for the past 21 years.
Our company is not just a business; it’s a purpose-driven entity. Rooted in a commitment to excellence, innovation, and client satisfaction, this purpose propels us forward. As we eagerly anticipate the opportunities that the future holds, here’s to a year of growth, our new home, expanded horizons, and the enduring strength of our partners, associates, and shared values. Cheers to 2024 and beyond!
Jefferson Capital’s narrative in 2023 is not just a story—it’s a saga of triumphs, resilience, and a relentless pursuit of excellence. As we turn the pages to welcome 2024, the echoes of our accomplishments will continue to resonate, setting the stage for an even more triumphant journey ahead.
