Credit, Collections & Insolvency News
Thomas Cook’s demise has marked the beginning of the end for high street travel agents. The UK tour operator was formally placed into liquidation on September 23rd after failing to agree on a rescue package amid £1.6 billion debt – triggering 9,000 UK redundancies, the company’s demise is symptomatic of the UK’s struggling high streets.…
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Aldermore, the specialist bank, has announced that Claire Cordell, its Director of Finance, will become its new Chief Financial Officer (CFO) and an Executive Director on its board. The news follows the decision of James Mack, the current CFO, to leave Aldermore after six years to become the new CFO at Barclays Bank in February…
Read moreResearch from alternative finance provider, Nucleus Commercial Finance has revealed that more than half (52%) of UK SME owners have business ambitions they feel they are unable to fund. According to the latest research, it’s business owners in the capital who are struggling the most to match their ambitions, with over over three-fifths (61%) of…
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Financial fraud has risen by 14% this year according to new data from Experian, with criminals turning their attention to younger people who have just bought their first home. The overall rise has been driven largely by an increase in debit and credit card fraud, which has risen by 60% in the first six months…
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Ofcom has set out a range of measures to help ensure out-of-contract broadband customers pay fairer prices, and providers offer better protection to vulnerable customers. Ofcom says that it has been concerned about some broadband customers paying high prices when their introductory offer has ended, meaning they are ‘out of contract’. Many of these customers…
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More than a third of the UK’s bank branches have shut their doors since 2015 while hundreds of those that remain have slashed their opening hours, new research from Which? reveals. The consumer champion investigated the bank branch network between January 2015 and August 2019 and found there were 3,303 closures (34%) in that period…
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The latest energy star rating table from Citizens Advice, the official consumer watchdog for energy, shows a big gap between the best and worst firms. Among the common problems faced by customers of suppliers at the bottom of the rankings were: Billing issues – incorrect and late final bills, not receiving any bills, inaccurate bills…
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Alternative finance provider, Liberis Finance has announced a facelift, launching a new identity and website The company says the logo has been simplified with a more professional look and feel, with a vibrant colour palette that better aligns to a customer expectation of a business that is modern and innovative, and that takes a fresh…
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Equiniti Business Payment Services (formerly EQGlobal), the international payments division of Equiniti Group, has announced that it has partnered with SWIFT, the global provider of secure financial messaging services. The collaboration, which sees Equiniti Business Payment Services join SWIFT Alliance, will deliver clients a suite of products and services that include the widest and most…
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State Bank of India (SBI) has launched its digital banking app YONO for customers of SBI (UK). Originally launched in 2017 by SBI in India, YONO has become very popular, especially among the youth, as it combines mobile banking and lifestyle. SBI has now decided to take YONO globally, starting from the United Kingdom. YONO…
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Over a million self-employed workers believe that they will not own their own home with over two thirds (68%) finding it difficult to get a mortgage according to research by Kensington Mortgages. A survey of more than 2,500 self-employed Britons has revealed that more than two thirds (68%) of self-employed individuals feel disadvantaged by their…
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