The service offers in-house expertise for a review and redress exercise, or a complete white-labelled end to end service managed by HML to help companies deal with the backlog of complaints about PPI.
Neil Warman, chief commercial and finance officer at HML, said: “In the last week it's become clear the scale of the PPI redress exercise is much larger than had originally been estimated.
“Only last month the BBA said the total industry compensation bill would be just £4.5bn for a 20% take up. But Lloyds has put aside £3.2bn, Barclays £1bn and RBS £850m amounting to £5.3bn for three organisations.
"16.1 million PPI policies have been sold since 2005 and all those with a policy have to be contacted and their case reviewed to see if they are due compensation - with up to 6.4 million policies likely to have been mis-sold, that's an administrative headache in anyone's book.
"Outsourcing some or all of the work involved in the PPI redress campaign could be the answer for some of the smaller players who weren't expecting to have to manage the exercise so soon, and could provide overspill capacity for the larger players.”
