Credit, Collections & Insolvency News
The benefits of adopting new technologies, such as artificial intelligence (AI), are not always immediately apparent for businesses in all industries and sectors. But for the risk sector, it is now obvious that there are enormous gains to be made. Its application can serve a wide range of functions – including fraud detection, risk management,…
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Let’s talk about representative APRs. Those enticing little percentages that influence a consumer’s decision to apply for one loan product over another. Far too often excitement turns to disappointment when they get down to the fine print and discover that the headline percentage was too good to be true, usually after going through the extensive…
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TransUnion has introduced a new affordability solution for gaming to support gaming companies as the industry continues to increase its focus on responsible gambling and consumer protection. Designed, developed and tested over 12 months by TransUnion experts, its key function is to help support gaming operators in their social responsibility practices, ahead of foreseen legislation…
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Ofgem has appointed Jonathan Brearley, its current executive Director for systems and networks, as its new Chief Executive. Ofgem’s Chairman Martin Cave said“Jonathan will take up his new role at a time of unparalleled change in the energy industry in order to meet the pressing need to decarbonise. Ofgem’s role is to ensure that consumers,…
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In August Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 120 HOLLAND ROAD LTD 121 RENTAL LTD 365 GROUP HOLDINGS LTD 3D ACCESS SOLUTIONS LTD A & R GLOBAL SOLUTIONS LTD A C ENGINEERING (SCOTLAND) LTD A&T COMPLETE JOINERY LTD ACOUSTIC FIRE SEAL LTD ACTDRIVE TECHNOLOGY…
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The Financial Reporting Council (FRC) has commenced an investigation into the audit by EY of the financial statements of Thomas Cook Group for the year ended 30 September 2018. The investigation will be conducted by the FRC’s Enforcement Division under the Audit Enforcement Procedure. The FRC will keep under close review both the scope of…
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Ofgem has ordered four suppliers to pay £14.7 million in Renewables Obligations by 31st October 2019. The Renewables Obligation scheme (RO) is administered by Ofgem on behalf of the government. Energy companies must participate to help fund the development of renewable electricity projects. The amount is worked out according to how much energy is supplied…
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The current lending market has seen the emergence of software developments that help to streamline processes for loan origination and credit assessment. Increasingly, shifting consumer expectations and technology-led changes in the industry have taken financial institutions to be increasingly aware of the need to update their practices and make way for innovation, that can help…
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