Credit, Collections & Insolvency News
Does your business run on several collections systems? Do you have multiple product lines that have developed multiple collections strands? You are not alone, many tier-one banks, financial services companies and BPO’s do so as well. They have evolved within Financial Services through product-led sales such as mortgages, credit cards, loans, overdrafts, or risk-related products,…
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In its report published today the Public Accounts Committee warns that Government ‘significantly increased’ taxpayer exposure to fraud and error by its twin decisions to drop basic fraud and error checks in paying out Covid 19 loans, and to support people and businesses that it had no prior relationship with. The Department for Business (BEIS) estimates…
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Latest Bank of England (BoE) figures show that consumer borrowing rose in May, outpacing the amount repaid for the first time since August 2020. Net borrowing rose by £280 million during the month, up from a net repayment of £228 million in April. The report shows that borrowing on credit cards fell but there was…
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The Student Loans Company (SLC) is commencing a procurement exercise to appoint its third Strategic Partner to provide a wide range of services across the Technology Change and Integration area within SLC’s Technology Group. As part of its ongoing commitment to improving its service to customers, SLC has undertaken an ambitious programme to transform the…
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New research has found that the ending of the furlough scheme could spell financial disaster for younger workers. From 1st July 2021, the Government will reduce the level of support given to employers under the Coronavirus Job Retention Scheme. Currently, the Government pays 80% of an employee’s wages for any hours not worked. From Thursday,…
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Professional services firm Begbies Traynor has appointed personal insolvency specialist David Tannock as a Manager based at its Glasgow office. Tannock has more than 18 years’ experience in the insolvency sector and joins from an accountancy and business advisory services firm in Glasgow where he spent almost four years as an insolvency manager, having previously…
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Business finance & debt advisory brokerage Liquidity Club has announced it has appointed Jim Davis as its new Chief Executive Officer (CEO). The brokerage, which is part of the ARMCo group of companies, helps SMEs source funding through invoice finance, asset finance, asset-based lending and business loans. Davis joins from Bibby Financial Services where he…
Read moreEnforcement specialist, Marston has announced the appointment of Steve Callaghan as Chairman of its board of directors. The appointment follows significant new investment from Inflexion Private Equity Partners and Intermediate Capital Group. Callaghan brings a wealth of experience in technology, transportation and sustainability, as well as leadership experience and commercial acumen to help Marston deliver…
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Consumer lender Oplo has announced an initiative that aims to protect our planet and radically accelerate the reduction of carbon emissions by offering all of its 230 staff a free home charging kit if they choose to switch to an electric vehicle (EV). Oplo has teamed up with Octopus Electric Vehicles to offer free and…
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Sopra Banking Software (SBS) has topped IBS’ 2021 Sales League Table holding the pole position for the Lending category, for the fifth year in a row. IBS’ 2021 Sales League Table ranks the various solutions by business domain and geography-based on the new-name customer sales in 2020, across the global market. Sopra Banking Software placed…
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NatWest has announced that it is selling most of its Irish commercial lending business to Allied Irish Banks (AIB), which will take over about €4.2 billion in loans, €2.8 billion in undrawn facilities and about 280 transferred Ulster Bank employees. The exact size of the portfolio and amount payable will depend on movements in the…
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