Late payment and bad debt can become serious and sometimes fatal problems for one-man or small businesses. In August 2019, the ICAEW Business Confidence Monitor (BCM) reported that one in five businesses (or 24% of SMEs) were facing serious challenges due to late payments. There are lots of reasons that issues relating to debt arise…

With the annual Talk Money Talk Pensions Week underway. The Money Charity, the UK’s financial capability charity, has highlighted the low levels of confidence with money across the UK with 2 in 3 consumers admitting that they don’t feel confident about managing their money. Only 1 in 2 think that they are a confident and…

Research from Xero and PayPal, has revealed that 37% of small businesses owners have considered closing their company because of cash flow issues caused by late payments. The findings highlight the scale of the late payments challenge facing British small businesses, who are owed an average of £23,360 in overdue invoices on any one day…

Fintech start-up, Snoop has been granted regulatory approved by the Financial Conduct Authority (FCA). Snoop connects to a customers’ current accounts and credit cards through Open Banking, and using a combination of both artificial intelligence and human intelligence, delivers data-driven, personalised insights to help consumers avoid rip-offs and make the most of their money. As…

UK Finance’s latest Mortgage Trends Update reveals that there were 17,740 new remortgages with additional borrowing in September 2019, 5.9 per cent more than in the same month in 2018. For these remortgages, the average additional amount borrowed in September was £50,000. There were 19,140 new pound-for-pound remortgages (with no additional borrowing) in September 2019, eight…

Pawnbroker H&T has said it had ceased all activities in its high-cost short term (HCSTC) credit unsecured loans business after the Financial Conduct Authority has launched a regulatory review into the business. In a company statement, the company said “The group has ceased all HCSTC unsecured lending, at least temporarily, as it works through this…

New research from PayPlan has revealed that Christmas is so expensive that people are now struggling to pay the rest of their essential bills. The free debt help service surveyed 1,000 people about how they are managing their finances. They found that 55% of parents will rely on their credit cards to cover their essential living…

Payment specialist Gala Technology has announced that they were awarded the ‘Security Innovation Of The Year 2019’ at the national Payment Awards. The latest success follows wins at five awards including the ‘PCI: 2019 Award For Excellence’ alongside ‘Best Use Of Technology’ and ‘Security Solution Of The Year’ within contact centre environments and ‘Best International…