Credit, Collections & Insolvency News
Artificial Intelligence, two words that can mean a dozen different things to a dozen different people, words that can either be an opportunity, a threat, or both. At its most basic, AI is helping credit and collections businesses to use algorithms to solve issues that they would have ordinarily have dealt with manually. It enables…
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The media is awash with articles discussing the virtues and pitfalls of AI, VR, AR or Blockchain. But even though you may be bewildered, it is impossible to ignore how these technologies are impacting not only our personal lives from a very basic level today but more importantly into our future. Which let’s face it…
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Despite the name’s popularity, it seems that nothing about Blockchain technology has yet been truly defined. Many of us have heard of it and do have a small basic understanding of its purpose but there is still a substantial amount of unanswered questions. For those individuals who work within the finance sector, there seems to…
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Public sector outsourcing spend has increased sharply in the first six months of 2018 despite a backdrop of Brexit uncertainty, according to the Arvato UK Outsourcing Index. Overall, £2.61 billion of outsourcing deals were signed between January and June, of which £998 million were government contracts. The total value of public sector spending was up 39…
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Lenders working closely with the Financial Conduct Authority (FCA), have agreed on common standards to help existing borrowers on reversion rates who are up-to-date with repayments but, because of stricter affordability criteria, are currently ineligible to move to an alternative product provided by their lender. The cross-industry voluntary commitment has been announced by UK Finance,…
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Build UK, a representative organisation for the UK construction industry, has published information on the payment performance of its contractor members using data submitted under the Duty to Report on Payment Practices and Performance. Identified as a specific action within the recently published Construction Sector Deal, Build UK members have collectively agreed for Build UK to benchmark…
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New figures from analytic software specialist Fico with Euromonitor International and UK Finance, has indicated that the UK has made significant gains in the fight against payments card fraud in 2017. France and the UK achieved reductions of 6 and 8 percent, respectively, for the biggest reductions in net fraud losses. This is despite losses across the…
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Customers of landline, broadband, TV and mobile services must be told when they are approaching the end of their minimum contract period, under new rules proposed by Ofcom. More than 20 million customers of these services are currently outside their minimum contract period, and more than 10 million are on deals with an automatic price increase…
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Ofgem has chosen Octopus Energy Limited to take on supplying the customers of Iresa, which went out of business last week. The appointment follows a competitive process run by Ofgem to get the best deal possible for Iresa’s customers. Octopus Energy is offering Iresa’s customers its “Flexible Octopus” tariff, which is one of the most competitive…
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A new judgment from the Court of Justice of the European Union (CJEU) could have significant VAT implications for providers of payment collection services and those that use their services such as charities, healthcare providers and businesses that accept payments by instalments. In the case of DPAS Ltd – a dental plan administration services company…
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