Credit, collections & insolvency news
LendingMetrics has agreed that its automated underwriting technology is set to be made available via Box Processing. A new tie-up between the two companies will see the full range of LendingMetrics’ products, including its award-winning auto decisioner ADP, integrated within Box’s credit solution platform. The move means finance providers can tap the openly-connected API suites…
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As we approach the end of an unpredictable and tough year for businesses, Barclaycard Payments’ latest SME Barometer has found that two-thirds (66 per cent) of small and medium-sized enterprises in England feel more prepared for the current national lockdown than they did for the first lockdown in March. The top reasons given for this…
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The Government is being urged to delay new Insolvency rules to protect distressed SMEs as Small business owners face failure and also face increased risk of losing their home. according to Purbeck Insurance Services. This December, HMRC is set to become a preferred creditor in a business insolvency, putting thousands of owners and directors of…
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The Money and Pensions Service (MaPS) has released its response to 13 ambitious financial wellbeing recommendations from influential sector leaders, which were published last month. The response document, which details how the organisation will deliver alongside others in the sector to help support and build a financial wellbeing movement from 2021 onwards, includes an explanation of how MaPS will refocus its current campaigning activity to help those most in need of guidance and…
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Three-in-ten working-age consumers who have faced a sustained income hit during the pandemic are now unable to afford some basic household costs such as heating and fresh fruit and vegetables, as the persistence of the crisis exacerbates divides in how low- and high-income households are coping financially, according to new Resolution Foundation research. The Foundation’s…
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One million UK freelancers have been pushed into debt since the pandemic hit, according to a report released by IPSE (the Association of Independent Professionals and the Self-Employed) and digital bank, Starling. The research, undertaken to assess the impact that COVID-19 has had on the UK’s self-employed, found that one in four (23%) freelancers have…
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Young people have lost out the most from the initial national lockdown and other restrictions, according to new data from NatWest Group. On average, around one in five (21%) residents in Britain has experienced an income fall of 20 per cent or more. Young people across the country have been disproportionately impacted, with 27 per…
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