Credit, Collections & Insolvency News
Hundreds of thousands of people who were mis-sold high-cost short term loans will receive a fraction of the compensation they are entitled to after WageDay Advance loans collapsed into administration last month. Customers are now receiving emails to explain how much they owe or are owed. However, now the company is in administration, those who…
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According to new research by Equifax, consumers are most likely to vote with their feet when it comes to their electricity and gas provider (41% say they would switch), followed by their TV/internet provider (33%) and mobile phone provider (31%). The research found only 22% of people would switch their bank account, and the figure…
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Trade Ledger, an open banking platform for business credit automation & Nimbla, the pioneering trade credit insurance platform have announced a new partnership to streamline trade finance & insurance processes for banks and lenders. The partnership will be the first time two Banking-as-a-Service (BaaS) platform providers have come together in the corporate lending sector but…
Read moreThe FCA’s review’s findings set the scene for changes in the commission model, transparency and affordability, with lenders set to adopt an active role in dealers’ promotion of finance. Addressing the changes required is clear. The FCA has thrown down the gauntlet to lenders and dealers to improve the customer proposition and experience. We see…
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The term ‘big data’ has become linked to the stories of exabytes of data being created each day, 90% of the data in the world having been generated in the past two years, and companies collecting and analysing every online move we make. What the term really reflects is that we can now manage, store…
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