An increasing challenge for major lenders is how to ensure satisfactory governance and oversight of outsourced arrears management suppliers. This is in the context of where the regulatory burden is ever increasing but investment in internal processes and resources – especially in supplier management – may be going backwards. Super-suppliers Increasingly, the solution to this…

Most financial institutions use external vendors to facilitate communication, regulation and complex analytical and processing requirements. However, as many vendors are now embracing automation technologies themselves the evaluation and choice of vendor has become more complex.  The case for Investing Robotics (e.g. automation) and AI (e.g. machine learning) offers businesses the prospect of improved efficiencies…

At this time of year lenders will be gearing up to handle increased levels of borrower contact and the smarter lenders will be preparing for proactive contact.  In recent years there have been big advances in the ability to use technology and data to develop pre-impairment indicators that can help identify signs of potential borrower…

Citizens Advice has recently published a report, A law unto themselves – how bailiffs are breaking the rules, which claims that a bailiff is flouting regulations every minute. It believes that this is an important contribution to the Ministry of Justice’s call for evidence. It seems that Citizens Advice researchers are also a law unto…

You’ve done the work or provided the goods. The client is happy – or at least they’ve not said they’re not – and you’ve sent the invoice. But the deadline as stated in your payment terms has been and gone and no payment has dropped into your bank account. Oh dear. What do you do?…

When we look at what is considered as the most important measures of a business success there are three key numbers: Sales (Also known as Revenue, Income or Turnover). Net Profit (Also known as EBIT, EBITA or Earnings). Net Worth. (Also called Book Value or Shareholders Equity) For PLC’s these three numbers are a major…

Insolvency levels rose by 2% in the UK in 2017 with more than 18,000 company insolvencies. This equates to an average of 47 firms falling victim to insolvency each and every day. In an uncertain economic climate, the risk of insolvency is ever present and Atradius economists predict this upward trend will continue with an…

Waiting for your customers to contact you and only servicing them when they do is unproductive, unpredictable and creates issues with managing resources as traffic levels fluctuate. But customer engagement doesn’t have to be this way. Think about it. Typically, the relationship with your customers involves a series of events over time. These can be…

The latest Bank of England  (BOE) report outlined that In 2017, UK secured finance to acquire vehicles totalled £44bn. In the same year, UK unsecured lending reached £300bn of which auto finance accounted for £58bn. Changing appetites towards risk in unsecured lending look set to continue, opening up opportunities for used car dealers to tap into a…

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