Following the 2008 recession, economic modelling has increased in prominence in credit risk management, as regulators expect financial institutions to be able to predict the impact of an economic downturn on portfolio losses, to ensure they could withstand another recession. In this blog, we compare the pros and cons of traditional modelling methods with non-linear…

The latest ONS employment figures showed that the rise in the number of self-employed people in the last year was greater than the rise in the number of employed people (an annual rise of 195,000 to September, compared with a rise of 110,000 employed people). The proportion of all workers who are self-employed is now…

Britain’s record employment is the result of its post-crisis income squeeze and means we’re working an extra 65 million hours a week, according to a new report by the Resolution Foundation. The report, Feel poor, work more, argues that Britain’s record employment level is one of the biggest economic stories of the last decade, with the number…

Debt purchasing group Arrow Global is to develop its fund management capabilities after swallowing a 15.1% rise in costs related to IFRS 16. Despite the group’s profits before tax increasing 65.6% to £42.4m and cashflow increasing 14.7% to £174.4m, underlying profits fell 5.4% to £50.4m in the nine months ending in September. Commenting on the…

Water UK has announced Christine McGourty as its new Chief Executive Officer.  McGourty will join the water and sewerage industry’s trade body on 16th December 2019. McGourty has extensive experience in regulated industries and trade bodies, leading the corporate affairs functions at Centrica, British Gas and Energy UK, as well as serving as a non-executive…

Debt management specialist, Gregory Pennington has joined forces with Personal Group, to offer 60,000 customers access to 24 hours confidential support via Health Assured, online healthcare service videodoc and a number of retail savings and discounts. The company says this combination will assist with the physical, mental and financial wellbeing of those who need it…

MarketInvoice has updated its name to MarketFinance. The fintech business lender established in 2011, has provided over £2.6 billion in lending to thousands of UK businesses. Using its proprietary technology and risk engine, coupled with a personalised service to enhance the lending experience, MarketFinance has enabled businesses to seamlessly access credit lines to suit their…

Households struggling to pay their council tax are being pushed into further debt as outdated regulations see councils resort to bailiffs to collect arrears, says Citizens Advice in its latest research. Citizens Advice says under current rules when people miss a single council tax payment they automatically became liable for the full year’s bill. The…