Latest figures from UK finance show that the mortgage market has softened following period of strong growth. The figures indicate that there were 29,400 new first-time buyer mortgages completed in the month, some 4.5 percent fewer than in the same month a year earlier. The £5.0bn of new lending in the month was the same…

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…

The Central Bank of Ireland has fined E-Services & Communications Credit Union (ESSCU) €155,000 and reprimanded it for a contravention of regulatory requirements contained in Section 21 of Central Bank Reform Act 2010. The contravention was admitted by E-Services and the enforcement action has been concluded by way of settlement agreement between the parties. A…

Dilosk DAC, the parent of Ireland’s mortgage lender ICS Mortgages, announced that it is to acquire an interest in a €182 million portfolio of residential mortgages which were initially originated by Leeds Building Society, who have decided to exit the Irish market. The portfolio contains Irish Private Dwelling House Mortgages which are primarily performing and…

Payment company Ingenico has today a partnership with European payments company, Trustly, that will enable customers in Europe to make secure online transactions directly from their bank account. The collaboration will see Ingenico expand its range of online payment solutions and enhance its position in 26 European countries, with online banking payment method now integrated into…

More than half (53%) of the medium-sized and large businesses in the UK use a bank for international payments potentially costing them more than £426 million a year in currency costs, according to foreign-exchange and treasury management specialist Centtrip. Centtrip’s survey of 500 medium-sized and large companies has revealed that on average each spent £978,000…

The Financial Conduct Authority (FCA) has published two consultation papers, setting out its proposals in the event the UK leaves the European Union on 29 March 2019 without an implementation period.  It also set out its approach to the regulation of Credit Ratings Agencies, Trade Repositories and Data Reporting Services Providers. The two consultation papers…

Citibank Europe has been fined €1,330,000 and reprimanded by the Central Bank of Ireland in respect of six breaches of its Code of Practice on Lending to Related Parties. The Code requires credit institutions, including banks and building societies, to have the proper systems, controls, independent oversight and regulatory reporting processes in place to support…

Debt Purchaser, Intrum has announced that it is reorganising its regional structure combining Spain, Portugal and its newly acquired unit in Brazil, communicated in the Interim Report 24thof July, into a new region to be called – Iberian Peninsula and Latin America. The new Intrum region takes shape based on the strong cultural, historically and…

European Private Equity firm AnaCap Financial Partners has announced that it has acquired a corporate debt and loan portfolio from Slovenia’s second-biggest bank Nova KBM. The acquisition portfolio consists of semi-performing or non-performing credit assets comprising primarily consumer, small and medium-sized enterprises and mortgage debt across Europe. In a company statement Anacap said, “In addition to completing…

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