Credit, Collections & Insolvency News
Challenger bank N26 has announced that it will exit from UK banking market. The banks says that with the UK having left the European Union, that it will be leaving the UK market. The timings and framework outlined in the EU Withdrawal Agreement mean that the company will in due course be unable to operate…
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The Ofcom board has announced the appointment of Dame Melanie Dawes as Chief Executive. Dame Melanie has been Permanent Secretary at the Ministry of Housing, Communities and Local Government since 2015. She will take up her new position in early March. Dame Melanie has held senior roles across the Civil Service, working in partnership across…
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Two-thirds of consumers (66%) of current account holders are unaware of the Financial Conduct Authority (FCA) changes to overdraft fees, according to new research by comparethemarket.com. The FCA has introduced new rules to make the costs of overdrafts clearer and easier to compare. But two thirds (66%) of customers have no idea these changes are…
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Complaints about high-cost short term loans have leapt by up to 250% in a year, according to the latest figures from the Financial Ombudsman Service (FOS). FOS says complaints about high-cost loans often relate to affordability. Others involve claims that a firm acted unreasonably or unfairly when someone’s financial situation changed. FOS also says it…
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The number of business customer complaints about retailers raised with the consumer watchdog has reached its lowest level for a year and a half. CCW – the voice for water consumers – saw the number of complaints made to it by non-household customers fall for a third successive quarter. CCW handled 812 complaints about retailers…
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AI-driven process automation solution specialist Esker has announced the integration of Stripe Connect, to its core product. This integration will expand Esker’s order-to-cash (O2C) solution by offering secure online payment capabilities globally and help businesses get paid faster. Jean-Michel Bérard, CEO at Esker said “As the most innovative player in financial technology, Stripe was the clear choice…
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Credit risk analytics specialist, Jaywing, has been appointed by Skipton Building Society as their independent model validation partner. The partnership began with Jaywing’s validation of Skipton’s IFRS 9 models in September 2019. Having demonstrated its modelling and regulatory expertise through this initial project, Jaywing was then commissioned to extend its work with the validation of…
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Business lender Spotcap has announced the appointment of Amanda Reece and Faton Gashi, who joined the team as partnership manager and sales support manager, respectively. Both have worked for UK high street banks in the past and join Spotcap during times of increased need for business finance. Reece will work closely with brokers, accountants and…
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Buy to let mortgage lender Molo has announced an open banking technology partnership with Experian. Molo is the UK’s first fully digital mortgage lender has streamlined the traditionally painful mortgage process, granting near-instant decisions, along with fair, secure, direct-to-customer lending. No paper, no appointments, no middlemen and no months of waiting for a decision –…
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Specialist consumer lender, 1st Stop Group has announced an open partnership with AccountScore. AccountScore provides actionable insights and analytics on bank transaction data for its clients. The partnership will enhance the service 1st Stop offers customers, enabling them to use Open Banking to monitor their financial fitness and identify areas for improvement. The data provided…
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