15% of SMEs at risk of insolvency in the next four years

17th September 2021 Business |

As many as 15% of the UK’s SMEs are rated ‘fragile’ and risk insolvency during the next four years as Covid-19 state support schemes are withdrawn, according to research by Euler Hermes. State support softened the blow of the Covid-19 shock in 2020, reducing the number of fragile SMEs by more than 8,000 in Germany,…

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Fraud victims ‘abandoned’ by banks

17th September 2021 Consumer Collections |

Consumer group Which? has warned that victims of bank transfer scams are being “abandoned” by banks when trying to reclaim stolen money. Which? says measures like the voluntary reimbursement code have failed to adequately protect consumers and provide reimbursement, saying there is a need for stronger action to support victims. Losses linked to authorised push…

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Warning that £360m rent debt crisis will escalate unless Universal Credit cut is reversed

17th September 2021 Arrears and Recoveries |

Debt charity StepChange has warned that a £360 million wall of rent debt built up during the pandemic combined with cuts to Universal Credit threatens to leave hundreds of thousands of tenants facing long-term housing insecurity and problem debt. Since March 2020, StepChange’s research has revealed a tale of two pandemics, with renters one of…

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Technology helping three in four small businesses become more efficient  

17th September 2021 Commercial Credit Management |

New research from Hitachi Capital Business Finance has revealed that more than three-quarters of small businesses across the UK (76%) have used technology in the last year to improve their business operations and become more efficient. This rises to 84% of small businesses that have expected modest growth – and 91% for those enterprises that…

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EY-Parthenon appoints new Partner

17th September 2021 Appointments |

EY-Parthenon has appointed a new Partner, Claire Gambles, to further strengthen its Turnaround & Restructuring Strategy practice.  Gambles joins EY-Parthenon from Deloitte where she led their Managed Exit business. She has over 20 years’ experience in the industry, and works across a multitude of sectors and geographies, supporting clients nationally and across the globe.  In…

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Monzo launches BNPL product

17th September 2021 Alternative Consumer Lending |

Monzo is to launch a buy now, pay later product called Flex that will let customers borrow up to £3,000 and spread the cost of purchases over three, six or 12 months. The digital bank said those who repay over three months will be charged no interest, while those spreading costs over six or 12 months…

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Major tech companies and banking industry agree partnership to tackle fraud

17th September 2021 Consumer Collections |

Major technology companies, including Google, Facebook, Instagram, Twitter, Amazon, Microsoft and TikTok have pledged to support Take Five to Stop Fraud, an anti-fraud campaign run by UK Finance. The announcement coincides with Take Five Week, a week dedicated to highlighting the work of the campaign that offers straight-forward and impartial advice to help everyone protect…

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Curve launches new service which turns past payments into card instalments

17th September 2021 Alternative Consumer Lending |

Financial app, Curve has announced has launched new product called Flex which it says is a new unique rival to Buy Now Pay Later (BNPL). Curve says following FCA approval it has launched Curve Flex to simplify and unify credit. It offers customers the power to pay later for almost any purchase made at any…

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Consumer credit eligibility increases as restrictions ease

17th September 2021 Consumer Collections |

New insights from Experian suggest that consumers have a better chance of finding a pre-approved credit card or loan than they did at the start of this year. Following the lifting of lockdown restrictions in July, lenders have continued to bring new products to market. 61% of customers using Experian’s Marketplace saw a credit card…

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