15th October 2021 - Credit Connect

Bank of England issues warning over potential loan default rise

15th October 2021 Arrears and Recoveries | #arrears #defaults

A Bank of England (BOE) survey of lenders suggests that more households are expected to have defaulted on mortgages and other loans by the end of November. The Bank’s credit conditions survey asks banks and building societies to detail the climate over the previous quarter and what they expect in the next three months. While…

Daligas becomes 15th energy supplier to go bust this year

15th October 2021 Consumer Collections | #energy insolvency

Gas-only retailer, Daligas, has confirmed it is ceasing to trade, blaming the unprecedented energy market conditions, the record high wholesale prices and the current energy cap. Daligas becomes the 15th energy company to go bust year meaning that a total of almost 2.4 million customers have now seen their energy supplier exit the market in…

Arrow Global announces new CEO appointment

15th October 2021 Appointments | #appointments

Arrow Global has announced that, following the completion of the takeover by TDR Capital, Lee Rochford has decided to step down as Group Chief Executive Officer (CEO). Rochford will be succeeded by Zach Lewy, Founder, Group Chief Investment Officer and CEO of Arrow’s Fund Management and Investment (FIM) business. The change takes effect immediately, Rochford…

Credit Kudos launches Open Banking credit score platform

15th October 2021 Consumer Collections |

Credit Kudos, the Open Banking credit reference agency, has launched Signal, a highly accurate, explainable Open Banking credit score to help lenders serve more customers, reduce defaults and evidence risk decisions. Available now, the score enables lenders to move beyond the limitations of traditional credit data, allowing them to accurately score all applicants, not just…

Rollout of new £100 contactless limit begins

15th October 2021 Consumer Collections | #payments

The national roll-out of the new £100 spending limit for contactless card payments will begin today (Friday 15th October). Consumers will start to see retailers accepting contactless card payments up to £100, which will give them more flexibility when shopping in-store. This will also help with bigger spends where speed and convenience are valued, such…

Phillips & Cohen appoints SVP Digital Operations

15th October 2021 Appointments | #appointments

Deceased account care servicing and technology solutions specialise, Phillips & Cohen Associates (PCA) has announced that Shawn Farris has joined its senior leadership team in the newly created role of Senior Vice President (SVP), Digital Operations. Farris is a proven leader and seasoned executive within the Accounts Receivable Management industry with an extensive background in…

FCA issues warning to businesses over hybrid working risks

15th October 2021 Consumer Collections | #compliance #regualtion

The Financial Conduct Authority (FCA) has issued new guidance to companies operating a remote or hybrid working model. The new directive states that firms will be evaluated by us on a case-by-case basis and should be able to prove that the lack of a centralised location or remote working does not or is unlikely to…

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