Credit, Collections & Insolvency News
Applications for finance have soared since the lifting of lockdown restrictions, according to intelligent decisioning technology provider LendingMetrics. The company has seen traffic rise 60-65% on its LMX platform during the first two weeks of April, compared to levels during the same weeks in March. Lenders that use its automated decisioning platforms witnessed loan applications…
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The Financial Ombudsman Service (FOS) has announced Nausicaa Delfas as its interim Chief Executive and Chief Ombudsman. Delfas succeeds Caroline Wayman, who has stepped down after seven years as Chief Executive and Chief Ombudsman. Delfas joins the organisation from the Financial Conduct Authority (FCA), where she is currently the Executive Director of International and Interim…
Read moreEQ Credit Services has announced that it will provide its technology to the Development Bank of Wales to support Welsh businesses with their commercial funding needs post-pandemic. The Development Bank of Wales has seen a 72% increase in loan customers as a result of the Covid-19 Wales Business Loan Scheme. EQ Credit Services will provide…
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A new Government-backed mortgage scheme to help people with 5% deposits get on to the housing ladder has been launched. First announced at the Budget, the scheme will help first time buyers or current homeowners secure a mortgage with just a 5% deposit to buy a house of up to £600,000 – providing an affordable…
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Britain’s financial firms and regulators should step up the use of technology to cut the cost of compliance and make the City of London more globally competitive, according to a new report. The report from the corporation that runs London’s ‘Square Mile financial district called for the removal of barriers to engineering a ‘paradigm shift’…
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The Finance & Leasing Association (FLA) and the British Vehicle Rental and Leasing Association (BVRLA) have asked the Government to amend the Super Deduction initiative to boost investment in plant and machinery by extending it to include leasing and plant hire, two of the most common ways that these assets are acquired by businesses. In…
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Financial services (FS) companies are seeing confidence in the economy surge at the fastest pace in more than seven years, according to a report from the CBI. The analysis shows that optimism rose at the fastest rate since December 2013 in March. A net balance of 52% of respondents said that they felt confident about…
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Latest figures from FICO have indicated that the average spend on credit cards fell by £33 to £547 in February 2021, with sales 16 percent lower than a year ago. Stacey West, Principal Consultant for FICO Advisors said “This drop is opposite to the usual trend we see at this time of year,” continued West. “However,…
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The Lending Technology Think Tank has confirmed its agenda and speaker line-up ahead of the event next Thursday (22nd April). The inaugural Lending Technology Think Tank has been created as an online event platform so that lending and creditor professionals can specifically discuss the role of the technology as we potentially emerge from the pandemic,…
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