Credit, collections & insolvency news
A new report from insurance specialist Gallagher finds that a significant proportion of UK SMEs are exposing themselves to severe and lasting impacts of a crisis incident, through lack of preparation, protocols protection and review. Crisis incidents, such as cyber-attacks, extortion, industrial espionage and terrorism, are costing UK SMEs billions of pounds a year. Furthermore,…
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Guarantor loans company, Amigo Loans, has announced its results for the three month period ended 30 June 2019. In the quarter Amigo saw customer numbers by 17.3% and revenue increase by 13.7% to £62.9 million. A rise in impairment and increased investment delivered adjusted profit after tax of £20.4 million. Hamish Paton, CEO of Amigo,…
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Business lender, OakNorth, has announced the appointments of Tiffany Teng as Chief of Staff and Jeremy Payne as Director of Product, Data Services. Teng was previously at JPMorgan Chase where she worked on the launch of several products including Chase Pay and the redesigned web platform. She managed product and product marketing teams at JPMorgan…
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Corporate insolvencies are on the rise globally due to the more challenging economic environment and high policy uncertainty according to a new report by Atradius. The report says business failures in developed markets are forecast to increase 2.8% in 2019 – the first annual increase in a decade – followed by another 1.2% increase in 2020.…
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