New research from American Express has revealed that consumers are set to spend an average of £1,206 on everything from tinsel to turkey this year, a Santa-sized £60 billion across the nation. Gifts are the top spend items and even though there’s no place like home for Christmas, travel is still on the mind of…

New research by Experian has revealed that there are 5.8 million people in the UK who are virtually invisible to the financial system, because there is insufficient information available about their financial track record. The campaign which is fronted by British food writer, Jack Monroe aims to raise awareness and educate consumers of the importance…

One in five (21%) medium-sized businesses in the UK believe that automation will help them compete with larger rivals, according to research from international payments, treasury management and foreign exchange specialist Centtrip. Seen as both a threat and opportunity, automation – the execution of a task or process without human assistance – is having a…

According to ender Welendus, 15% of short-term loan applications are being made to cover household bills. 42% of loan requests were to pay for surprise bills, Of the 35,000 loans peer-to-peer lender Welendus has received this year, 5,000 have been to meet the cost of regular bills. The FCA-approved ethical lender has revealed that 2,400…

New figures released by the Finance & Leasing Association (FLA) show consumer finance new business fell by 1% in September, compared with the same month last year. In Q3 2018, new business grew by 5% compared with the same quarter in 2017. In September, credit card and personal loan new business together grew by 4%…

Vanquis Bank has announced its Managing Director will step down. In a statement, the company said that the Board of Vanquis Bank announces that Chris Sweeney, Managing Director, Vanquis Bank will from today step down from his role and also the Board of Vanquis Bank. Sweeney will remain employed by Provident Financial Group until the end…

A new report by research specialist Gartner says that Digitalisation will make most heritage financial firms irrelevant by 2030. These firms will struggle for relevance as global digital platforms, fintech companies and other nontraditional players gain greater market share, using technology to change the economics and business models of the industry. Speaking at Gartner Symposium/ITxpo 2018 on…

More than half of UK consumers (54 percent) would be ready to use biometric payment cards if they were available at their bank today, according to new research revealed by digital security leader Gemalto and conducted by GfK.  For 82 percent of consumers, it would even become their preferred payment card – generating a clear ‘top of…

The Insolvency Service has published the latest personal insolvency statistics for Q3 (July to September 2018) for England and Wales. The statistics show that total personal insolvencies fell by11% from a six-year high in Q2 2018 and are 2% lower than in the same quarter in 2017. This was driven by a decrease in individual voluntary…

The Bank of England latest figures has revealed that consumer credit increased by £0.8bn in September. This was less than in August, as new borrowing for car finance fell sharply. Consumer borrowing grew at its lowest rate for three years last month after car sales dropped 20 percent, The annual growth rate of consumer borrowing…

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