Credit, Collections & Insolvency News
As the furlough scheme comes to an end this month, research from Canada Life has revealed how currently furloughed workers have boosted their income throughout the pandemic. The most common way of boosting finances was borrowing money on credit cards, with two in five (44%) saying they have considered or done this. This was closely…
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A recent survey conducted by YouGov on behalf of the Chartered Trading Standards Institute (CTSI) discovered that 9% (479,880) of 18-24-year-olds (young adults) lost over £500 to scams since the beginning of the first Covid-19 pandemic lockdown in March 2020. The survey, which measures consumer confidence since lockdown began, found that younger people across the…
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Exports of goods in the Czech Republic have surpassed pre-pandemic levels, however, rises in insolvencies are expected according to tothe latest trading insight report by Atradius. The trade credit insurer’s new Czech Republic Country Report reveals total exports are forecast to rise 10.5% in 2021 following a marked decline of around 7% last year. Atradius…
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United Trust Bank (UTB) has announced two new appointments in its Asset Finance Credit team as it continues to break records for new written business. Gavin Mancey has joined the Bank as Underwriter and Daniel Idowu has been promoted to Underwriter having started in UTB’s Asset Finance Operations Team in 2018. Mancey has nearly 20…
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Insolvency, credit and debt recovery software solutions provider, Aryza has announced the launch of a new SME Open Finance product called Vantage. Combing various data sets, Vantage is the first B2B2C platform that delivers actionable insights within a customer permissioned environment that allows all parties to benefit from its shared components. It offers a best-of-breed…
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The Money and Mental Health Policy Institute have awarded Halifax and Bank of Scotland it’s Mental Health Accessible’ accreditation for businesses. They are two of the first three organisations to receive this accolade, following the accreditation of Lloyds Bank in 2020. This follows a comprehensive assessment by Money and Mental Health of how accessible Halifax…
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The pandemic has seen the reliance on technology surge over the past two years and businesses across all sectors have had to transform the way they operate – not only in terms of managing their employees, delivering products and services and dealing with customers – but also adapting to a digital world and cashless society.…
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The boost to financial wellbeing triggered by the relaxing of pandemic measures dipped during the third quarter despite the first rise in household income from employment since Q1 2020, according to the latest Scottish Widows Household Finance Index. The Index, which measures households’ overall perceptions of financial wellbeing, dipped from 44.7 in the second quarter…
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New data from the Registry Trust has indicated that 47% of businesses that became insolvent in May and June 2021 had an outstanding county court judgment (CCJ) against them. Whilst 78% of those who became insolvent with an outstanding CCJ had received their first CCJ within the previous 999 days. With the Insolvency Service’s latest…
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From 1st October, rising energy bills, food inflation and the Universal Credit cut will mean millions of families could be £107 worse off every month, according to new research from Royal London. From October, the £20 weekly uplift to Universal Credit which equates to £86.66 a month, is due to be withdrawn. According to the…
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45% of vulnerable adults in the UK have experienced mental distress after being chased by organisations for missed payments or debt according to independent research carried out on behalf of the Vulnerability Registration Service (VRS), a not-for-profit company providing the UK’s first central vulnerability database. VRS says that the FCA’s guidance has been clear, organisations must…
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European banking provider Yolt Technology Services (YTS) has been chosen by new credit card provider, Keebo to deploy Open Banking data through the application of Account Information Services (AIS), The rapid integration of robust open banking via API from YTS into Keebo’s underwriting process aggregates normalised and categorised transaction and balance data from customers’ bank…
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