New research by price comparison website MoneySuperMarket has revealed that although over a third of consumers (39 per cent) use contactless technology to make payments, the vast majority are concerned about introducing alternative payment methods, such as fingerprint or facial recognition, into their day-to-day spending. Despite advances in technology in the banking sector and the…

The latest mortgage Lenders and administrators statistics from Quarter 2 have been released by the Bank of England which is highlighted by a rise in mortgage activity. The outstanding value of all residential loans continued to increase in 2018 Q2 to £1,417.2 billion, 3.8% higher than a year ago (Q2 2017). Compared to the second…

Small businesses are calling on the Government to immediately publish the Call for Evidence into poor payment practices announced in this year’s Spring Statement six months ago. The call comes after the release of the latest Duty to Report data highlights that just over half (52%) of invoices were paid within 30 days. The data…

Last month proved to be a record-breaking one for New Payment System Operator (NPSO) subsidiary, Bacs Payment Schemes (Bacs), the organisation behind Direct Debit and Bacs Direct Credit in the UK. Across August, a huge 580 million payments were processed, smashing the existing record of 573 million, set in December 2015. A new daily high…

Lending criteria sourcing provide, Knowledge Bank has announced that is now offering brokers the ability to perform criteria searches within two lending types: Bridging and Commercial. The addition of the new sectors has added over 9,000 individual criteria to the Knowledge Bank system taking the total criteria held by the system to over 70,000.  This…

If we were to believe the national press coverage of the Wonga collapse, it would seem that the payday loans industry is in terminal decline. All the urban myths of the Financial Conduct Authority’s payday regulation are coming out again: That hundreds of firms left the industry when the FCA’s high cost short term credit…