Credit, Collections & Insolvency News
Digital insurance platform, Nimbla has announced a business risk modelling partnership with Wiserfunding. Wiserfunding is a venture from Edward Altman, the creator of an industry-standard credit risk model, the Z-Score. Wiserfunding’s Artificial Intelligence (AI) enhances SME credit profiling by assessing intangible factors such as corporate governance, management capacity and macroeconomics. Nimbla’s risk modelling will be…
Read moreRBS will repay around £2.2 million in charges and interest to approximately 36,000 customers who went into or attempted to go into unarranged overdraft without first sending an alert to them. The bank failed to send accurate text warnings to customers, from February 2018 until December 2019, and has now agreed to fully repay the…
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Visa has facilitated the first request to pay message sent and received using Pay.UK’s standards, ahead of the anticipated commercial launch of request to pay later this year. Request to pay is a new, flexible way to settle transactions between businesses, organisations and individuals. The messaging service is designed to complement existing payment infrastructure and…
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New research from Citizens Advice has shown that four in ten (41%) of those in the shielded group have lost at least 20% of their income since the coronavirus outbreak began. More than a quarter (27%) have lost 60% of their income or more. The charity has supported thousands of workers with underlying health conditions,…
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Changes to the insolvency law will give businesses flexibility according to Duff & Phelps which also says that the new measures will provide options for businesses in difficulty as Britain exits lockdown. Introduced on 20 May 2020, the Corporate Insolvency and Governance Bill the company says that the legislation is a welcome development that will…
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Barclaycard Payments’ second SME Barometer has found that, despite UK businesses predicting poor short-term performance, and reporting a dip in sentiment compared to last quarter, there are early signs that they have begun the road to recovery. The report found that business sentiment has dropped by 31 points this quarter, down to 79 points out…
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