Credit, Collections & Insolvency News
A new report released by the Money and Pensions Service (MaPS) is calling on the retail banking sector to promote customer wellbeing. The Money and Pensions Service says that using saving goal-setting pots to spending analysis tools and features to find better energy deals, the retail banking sector has made significant inroads to help customers…
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Figures from UK Finance show that mortgage lending rose to its highest level since the Brexit vote last month, a total of 49,683 mortgages were agreed in May, up 9.1% on a year earlier, and the highest level since June 2016. Overall, £14bn was lent by High Street banks, up 3.5% from May 2018. Overall,…
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One third of Scots (36%) have borrowed money from family and friends; yet one in ten (8%) do not expect to pay the money back, according to new research by Bank of Scotland. Part of Bank of Scotland’s ‘How Scotland Lives’ study, the nation-wide analysis from YouGov of 3,048 adults also found that almost a…
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In their recent report on motor finance, the FCA made clear that they would be consulting with the industry on long term changes to the market – and that further scrutiny should be expected. The report was also clear on the FCA’s expectation that action should be taken now to improve compliance with current requirements…
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It’s no secret that Artificial Intelligence (AI) and Machine Learning technology has made huge advances in recent years. In fact, 83% of businesses state that AI is a strategic priority for their business today and the growth of AI in the UK is high on the Government’s agenda, as outlined in this recent whitepaper. As…
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