27th October 2021 - Credit Connect

Increase in consumers struggling to manage their personal finances

27th October 2021 Arrears and Recoveries | #debt #personal finance

A new report by Aryza has found an increase in the numberstruggling to manage their personal finances. Drawing on a dataset of nearly 300,000 insolvent UK consumers currently struggling with their personal finances, the company’s latest debt statistics report found the average debt level across the UK to be £17,823. This is compared to £15,924…

Connected Data secures £600k in investment round

27th October 2021 Company News |

East Midlands based venture, Connected Data, has secured private equity funding in an investment round led by EMBA Investors. Connected Data blends the latest business intelligence, analytics and artificial intelligence capability with the widest range of predictive data solutions. The company says that it significantly simplifies the process, removing ‘data noise’, with minimal impact on an…

Energy price cap likely to push two in five families into financial difficulty

27th October 2021 Arrears and Recoveries | #debt #utilities

The record energy price cap increase of £139 in October is set to push two in five families into debt with their supplier, according to the latest Household Financial Confidence Tracker from comparethemarket.com. 43% of families with children at home believe that if energy bills increase it will push them into debt with their energy…

iVendi appoints Head of Information Security and Compliance

27th October 2021 Appointments | #appointments

Simon Hunt has been appointed to the new role of Head of Information Security and Compliance at iVendi. Hunt has worked as a freelance consultant for the company since 2017 and will take on the full-time role from the beginning of September. Entering the IT sector in 1988, Hunt has operated as an Analyst Programmer,…

Tesco Bank joins faster Payments Scheme

27th October 2021 Consumer Collections |

Tesco Bank customers can now send and receive payments in real-time, 24 hours a day after becoming a direct member of the Faster Payments Scheme. By joining the scheme (which is run by Pay.UK), Tesco Bank customers will benefit from a simple, smart, and secure payment process that enables them to transfer money, pay a…

Buy now pay later debt surpasses £4bn

27th October 2021 Alternative Consumer Lending | #BNPL

An estimated 7.7 million consumers have significant outstanding balances with buy-now, pay-later (BNPL) companies, as consumers continue to be drawn in by unregulated, interest-free borrowing according to research by Credit Karma. The research has indicated that BNPL has continued growing, despite concern amongst industry experts and government, with research indicating providers have acquired another 1.6…

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