Credit, Collections & Insolvency News
How can firms use the FCA Rules & Guidelines on Persistent Debt as an opportunity to transform their collections process? The approach to managing persistent debt is high on the agenda of most banks and credit providers. It’s a problem, which needs to be solved – not by just treating customers who are classed as…
Read more
Over the past decade, banking apps on smartphones have given people the freedom to manage their finances when and how they want. But even bigger benefits are just around the corner. In the next 10 years new technology will offer customers personalised financial support, instant home-buying decisions and even tougher cybersecurity. A key factor driving…
Read more
New analysis by Which? has found that banks are locking customers out of their accounts five times a week because of IT meltdowns. In the last year, the UK’s biggest banks were hit with a total of 265 systems failures. The consumer group, which looked at Financial Conduct Authority (FCA) figures from October 2018 to…
Read more
Child poverty is set to continue rising under the Conservative Party’s social security plans, while Labour’s £9 billion of extra spending would mean 550,000 fewer children in poverty but not see current poverty rates fall, according to new research published today by the Resolution Foundation. The shifting shape of social security shows how the size and…
Read moreComparison website, GoCompare has joined Cifas, as an official member. The membership builds on GoCompare’s existing efforts to tackle fraud, having joined as members of the Insurance Fraud Bureau (IFB) in May. The agreement will mean that GoCompare can check suspicious activity against data at point of quote and quickly receive an indication of whether…
Read more
The latest figures from UK Finance show that the £11 billion of credit card spending in October 2019 was 2.3 percent lower than in September 2018, with repayments remaining in line with credit card spending, demonstrating that consumers are managing their finances effectively overall. Repayments remained in line with credit card spending, showing that consumers…
Read more
New research by iVendi shows that 8% of used cars have potentially conflicting information attached to their digital record – meaning that any finance quotes supplied for them could be incorrect. From a sample of around 140,000 vehicles being sold online, the motor retail technology specialist identified more than 11,000 as having a potential problem.…
Read more
AutoProtect Group has announced the addition of automotive fintech firm DealTrak to its existing portfolio of motor assets. In addition, the Group has announced the appointment of a new Chief Executive Officer (CEO). Owned by Correlation Investments (CIL), AutoProtect Group is a leading provider of insurance and warranty products worldwide, and the re-organisation of CIL’s…
Read more