Credit, Collections & Insolvency News
Conversational AI and customer engagement orchestration specialist Webiohas launched Propensity Studio, the company’s latest digital debt collection offering. Propensity Studio leverages Webio’s credit and collections expertise and conversational AI platform to enhance how businesses engage with their customers by predicting individual business outcomes throughout their messaging conversations. Designing fully personalised journeys for all customer types,…
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Consumer credit technology and outsourced services provider EQ Credit Services (EQCS), part of EQ (Equiniti Group) has announced that it has recently onboarded a raft of new standby servicing contracts, bringing its portfolio (for standby alone) to 100 different lending facilities. The company’s standby services division now protects more than 50 active lending clients…
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Retail banks have been issued a warning by the Financial Conduct Authority (FCA) about continuing weaknesses and failings surrounding their financial crime controls. The letter, which was penned by David Geale, the Director of Retail Banking & Payments Supervision for the FCA, and sent to banking industry chiefs across the UK, was issued in May…
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The Financial Conduct Authority (FCA) has criticised Provident Financial’s plans to cap compensation for customers of its failed doorstep lending arm,. The regulator has also said it would not oppose the lender in court. Provident has set aside £50 million under a scheme of arrangement to reimburse customers who were mis-sold loans. The FCA said…
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Ofwat has published its survey on consumer finances during the pandemic, showing a decline in mental health correlated with those financially struggling. It found more households were worse off in the past year than previously and many anticipated that to continue in the coming 12 months Ofwat has also set out a number of actions…
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The Financial Conduct Authority (FCA) has made a commitment to be a more, innovative, adaptive and assertive regulator. The commitment reflects the FCA’s Business Plan for 2021/22, the first annual plan since Nikhil Rathi joined the FCA as Chief Executive in October 2020. Rathi said “The FCA must continue to become a forward-looking, proactive regulator.…
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Demand for unsecured finance from SMEs is on the rise, according to iwoca’s quarterly SME Expert Index of UK brokers. The index, which covers a four-week period in May, found that over a third (38%) of brokers had submitted more lending applications for unsecured finance compared to the four weeks prior to that, suggesting that…
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Business advisory firm Quantuma has announced that it has promoted Frank Ofonagoro to Managing Director as the firm celebrates 45 per cent team growth in the last year. Ofonagoro joined Quantuma two years ago with more than 20 years’ experience – including senior managing positions at PwC and KPMG where he undertook financial and operational…
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