Credit, Collections & Insolvency News
Bank branch staff worked with the police to stop £19 million of fraud in the first half of 2020 through the Banking Protocol, according to the latest figures from UK Finance. The Banking Protocol is a UK-wide scheme that enables bank branch staff to alert their local police force when they suspect a customer is…
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The Covid-19 pandemic has caused an increase in finance professionals dealing with outstanding invoices from customers, according to nearly half (48%) of respondents surveyed by fintech company, Onguard. Cash flow problems were cited by nearly two-thirds (65%) as being the most common reason why customers are failing to pay on time. This represents an increase…
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Results from a BCC poll, conducted in partnership with banking group TSB has revealed that many firms have taken on debt during the pandemic and require flexible repayment solutions to rebuild their revenues and avoid an unsustainable debt crisis. The report also suggests that businesses that haven’t taken on debt but may yet need to, favour flexible business banking services…
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Regtech company, TruNarrative has announced a new partnership with Urjanet, to integrate utility and telecom account data. The TruNarrative platform delivers financial crime detection, customer onboarding and transaction monitoring to Financial services, e-commerce businesses and gambling operators. The partnership enables TruNarrative’s platform users to connect with consumer utility accounts based on consumer permissions and digitally retrieve…
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The Institute of Directors is has called for an extension to emergency insolvency measures to prevent company collapses and job losses. Under normal circumstances, directors have a strict duty to cease trading if their company is facing insolvency and may face financial or legal liabilities if they seek finance instead of doing so. In June,…
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A Deloitte report has placed HubSolv on the 500 fastest-growing companies in EMEA through their Technology Fast 500 annual programme. For the 2019 fiscal year, HubSolv ranked 165th across Europe, the Middle East & Africa for company growth, boasting a 850% increase in revenue from 2015-2018. Fraser Hamilton, Co-Founder of HubSolv, offered his thoughts upon…
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Millions of energy customers could be in for a substantial bill shock this Autumn due to a combination of increased energy usage over lockdown and as working from home continues, according to research from comparethemarket.com. A rise in usage may lead to households without a smart meter and those who do not receive a manual…
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