Credit, Collections & Insolvency News
British financial firms need to respect the spirit, and not just the letter, of rules designed to prevent another financial crisis, one of the Bank Of England’s (BoE) deputy governors said on Monday. Sam Woods, who is in charge of the BoE’s day-to-day regulation of banks and insurers, said “fixed rules could never keep up…
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Callcredit Information Group and company information provider DueDil, have partnered to launch KYC for Business – an enhanced KYC (know your customer) service. The new KYC for Business service will offer clients the combination of two services via one single enquiry, helping to streamline any business customer checks they need to perform whilst ensuring they are…
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SME Lender iwoca and Italy’s Intesa Sanpaolo, are partnering to provide Intesa’s SME clients with innovative credit products to bridge the funding gap and support growth in this key section of the economy. The partnership will leverage iwoca’s market leading SME lending platform and Intesa’s expertise in building banking operations across Italy, Central Europe, Eastern Europe,…
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Business finance provider, Henry Howard Finance, has appointed a new regional director for the South West to its Asset Finance division. With a career in finance spanning more than three decades, including 10 years as a director of asset finance at Lombard, Richard Arnold, joins the firm as South West regional director. Mark Crook, Group CEO…
Read moreCoventry City Council is owed more than £12.5million in council tax, according to a new report. Only six of 36 metropolitan councils in England had lower levels of council tax arrears relative to their collectable council tax at the end of March 2017. However, only four metropolitan local authorities collected more council tax arrears than Coventry in 2016/17.…
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Energy companies are burying the details of charges on late bill payments deep in their terms and conditions, to the extent that households are unaware of the penalties. Research from comparethemarket.com shows that energy providers are charging interest of, on average, 4% APR to customers who are late in paying their bills. Most households pay their…
Read moreLast month (19-25 June 2017) was the Festival of Learning (previously Adult Learners Week), which marks the biggest celebration of lifelong learning in England. The week before I attended the National Skills Academy for Financial Services’ (NSAFS) Skills & Apprenticeships Conference where one of the key themes was around the skills that those working in…
Read moreRobo adviser MortgageGym.com has announced an investment agreement with financial services comparison website GoCompare. MortgageGym, in partnership with GoCompare and Experian, will provide consumers with access to a first-of-its-kind digital mortgage marketplace providing an end-to-end online solution that promises to transform the UK’s out-of-date mortgage application process. The company’s website will be the only online service that…
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Helping people to build a £1,000 rainy day savings fund via the pensions automatic enrolment framework would prevent debt problems, would have a minimal impact on retirement incomes and would be better financially for people than if they stopped paying into their pensions to cover emergency costs, this is according to new analysis conducted by…
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The Credit Services Association (CSA), the voice of the UK debt collection and purchase industry, has revised and relaunched its Code of Practice to incorporate new Principles of Business. The new revised Code continues to promote best practice in terms of collections activity, and also details what the CSA expects of its members in terms…
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