7th September 2021 - Credit Connect

How can collections help vulnerable customers?

7th September 2021 Industry opinion |

Vulnerable customers in collections require help. They need to feel like they can contact third parties to discuss their situation without judgment. Let’s face it, it’s often not easy for customers to pluck up the courage to get in touch, but when they do, they really want and need slick, frictionless processes. That’s why having…

Factors driving ‘Collections Strategies’ in 2021

7th September 2021 Industry opinion |

This blog is written in advance of the Credit-Connect Online Collections Technology ‘Think Tank’ on 16 September 2021 around transformation in debt management strategies. This blog uses my recent experience as delivery lead on the ‘Contact Engagement Programme’, part of the Government Major Projects Portfolio (GMPP). This was a displacement programme involving public procurements on…

Rise in unemployment predicted as furlough scheme ends

7th September 2021 Consumer Collections |

Job creation looks set to continue at a strong rate after the furlough scheme ends, but a fresh rise in unemployment is still likely according to analysis by the Resolution Foundation. The Foundation has warned that about 900,000 people are still expected to be on the scheme when it finishes on 30th September. As a…

Universal Credit increase vital for working families hit by benefit losses

7th September 2021 Consumer Collections |

Hairdressers, shelf stackers and carers will be among those working families facing the biggest overall drop in their benefits income since 2010 when the cut to Universal Credit goes ahead next month, according to new research¹ by leading UK children’s charity Action for Children. The charity commissioned research from the Child Poverty Action Group which…

Bank debt write-offs to hotels and restaurants rise by £60m

7th September 2021 News |

Research by Mazars has revealed that banks have written off £99 million in loans to restaurants and hotels in the past year, up from £60 million a year earlier. The research indicates that Banks are increasingly writing unpaid loan repayments off as bad debts with a 65 per cent increase in write-offs of loans to…

Emergency loan scheme reversed alternative lending growth

7th September 2021 Commercial Credit Management |

Analysis by Innovate Finance has found that the pandemic had reversed years of growth among alternative lenders and resulted in large banks significantly increasing their market share. The fintech industry body said the emergency Bounce Back Loan Scheme saw £47.3 billion worth of state-backed credit channelled to more than 1.5 million companies. However, because non-bank…

Enra launches new technology customer journey platform

7th September 2021 Commercial Credit Management |

Non-bank lender, Enra Specialist Finance has launched a new underwriting and case management system for its bridging finance product. The new platform has been built by Enra’s in-house team for its West One bridging business. The aim is to enhance the origination journey with improved data capture, automated document production and underwriting control. The new…

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