2nd May 2018 - Credit Connect

Are we giving consent to use our data too freely?

2nd May 2018 Industry opinion |

If ever there was a pivotal moment in the future of digitalisation that time is now. The Cambridge Analytica Facebook scandal, which has sparked controversy over foreign state interference and election rigging, has far wider implications. It brings under scrutiny how we harvest data, what it is used for, and how we control its dissemination…

Why plans to ban late payers from getting contracts aren’t enough

2nd May 2018 Industry opinion |

The government has announced plans to ban late payers from bidding on government contracts. But, whilst it’s great to see the government finally proposing to clamp down on poor payment practices running through its supply chains, more needs to be done for us to see a real cultural change in late payment. The proposals, which come…

Early signs that your customer can’t settle your invoice

2nd May 2018 Industry opinion |

Good cash flow is the lifeblood of any business so it’s essential to monitor overdue invoices and act quickly to ensure payment. Failure to act promptly could mean your firm incurs damaging losses if a defaulting customer becomes insolvent and can’t afford to pay you. There are several early signs that a customer may be…

Euler Hermes to become part of Allianz Group

2nd May 2018 Mergers and Acquisitions |

Credit insurer, Allianz Group has completed the last steps to become the sole owner of Euler Hermes. Following the completion of the simplified tender offer the legal conditions were met and Allianz has implemented a squeeze-out on the remaining shares of Euler Hermes it did not hold yet, followed by the delisting from Euronext Paris…

Half of UK small businesses currently operating in the red

2nd May 2018 Commercial Credit Management |

Half of the small businesses in the UK are currently operating in the red, according to the latest Small Business Insights published by Xero. According to new data, only 49.5 percent of businesses were operating in positive cash flow last year. Despite the various government initiatives that have been attempted, the UK’s biggest firms are still…

Government announces foreign money laundering reform measures

2nd May 2018 Commercial Credit Management |

The Government has announced measures to crack down on the abuse of a specialised financial arrangement to launder dirty foreign money through the UK. Scottish Limited Partnerships (SLPs) and Limited Partnerships (LPs) are used by thousands of legitimate British businesses, particularly the private equity and pensions industry, to invest more than £30 billion a year…

FCA publishes terms and definitions for payment accounts

2nd May 2018 Consumer Collections |

The Financial Conduct Authority (FCA) has published the final list of the most representative services linked to a payment account and subject to a fee within the meaning of Regulation 3 of the Payment Accounts Regulations. The move is part of the EU Payment Accounts Directive’s goal to improve the transparency and comparability of fee…

DDM appoints Head of Business Development

2nd May 2018 Consumer Collections |

European debt purchaser, DDM Holding has announced that it has appointed Henrik Wennerholm as Head of Business Development and a member of DDM’s Executive Management Committee. Wennerholm has industry experience from companies including Hoist, Aktiv Kapital (PRA Group) and, most recently, B2Holding ASA where he served as Head of Business Development and a member of the Group Executive…

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