29th October 2021 - Credit Connect

Harnessing the full potential of AI in the lending process

29th October 2021 Industry opinion |

Across the banking sector, organisations are under pressure to innovate faster – but as customer expectations and market competition continue to rise, digital solutions are evolving at pace to help them stay ahead of the game. When we look at the lending process, for example, the use of AI and machine learning has huge potential…

Energy sector job seekers encouraged to consider careers in debt sectors

29th October 2021 Appointments |

Credit Style, part of the Bristow & Sutor Group, says energy sector workers who have lost their jobs recently should consider changing career paths, highlighting the volume of roles available in debt recovery and the transferable skills that are of interest to employers in the sector. The current energy crisis has seen over a dozen…

MaPS appoints new advisory group members

29th October 2021 Appointments | #appointments

Phil Andrew, Chief Executive Officer of StepChange Debt Charity, Joanna Elson CBE, Chief Executive of the Money Advice Trust, Dame Clare Moriarty, CEO of Citizens Advice, and Katie Murray, Group Chief Financial Officer of NatWest Group, have joined twelve other top-level executives from the worlds of finance, consumer rights, research and technology on the Money…

Scottish business insolvencies increase by 29%

29th October 2021 Business | #business insolvencies

The number of business insolvencies (liquidations and receiverships) in Scotland rose by 29.4% to 211 in July-September 2021 compared with April-June 2021 (163), and rose by 80.3% compared to July-September 2020 (117) according to latest Accountant in Bankruptcy (AiB) figures. Creditors’ Voluntary Liquidations rose to 179 for July-September 2021 – an increase of 35.6% on the…

Scottish personal insolvencies rise by 1.8%

29th October 2021 Consumer Collections | #personal insolvencies

The number of personal insolvencies (bankruptcies and protected trust deeds) in Scotland rose by 1.8% to 1,918 in July-September 2021 compared with the 1,885 in April-June 2021, and was 8.4% higher than in July-September 2020 (1,770) according to latest Accountant in Bankruptcy (AiB) figures. A total of 524 bankruptcies were awarded during this quarter –…

3.2m young consumers consider themselves vulnerable

29th October 2021 Consumer Collections | #vulnerable customers

Younger consumers in the UK, aged 16 to 24 year olds, are among those most likely to now consider themselves vulnerable – 48%, compared to 34% of all consumers, according to research by the Vulnerability Registration Service (VRS), a not-for-profit company providing the UK’s first central vulnerability database. The FCA’s Financial Lives findings back in…

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