3rd November 2021 - Credit Connect

FOS agrees to review firms’ early settlement offers

3rd November 2021 Alternative Consumer Lending | #regulation

The Financial Ombudsman Service (FOS) is to review offers made by firms to their clients in early settlement cases. FOS that in light of concerns that taking a more neutral stance could jeopardise fairness and consistent outcomes it had proposed to present proactive offers from businesses ‘neutrally’ to customers, essentially making clear that in putting…

Zopa appoints new Chief Risk Officer

3rd November 2021 Appointments |

Digital bank Zopa has announced that it has appointed Graham Robinson as its new Chief Risk Officer. Robinson joins Zopa as it completes its first year as a digital bank and sets its sights on further growth. With over 20 years experience of leadership across credit risk, operations and digital, Robinson brings a wealth of…

Four more energy suppliers go bust

3rd November 2021 Business | #utilities

Omni Energy, MA Energy, Zebra Power and Ampoweruk have announced they are the latest energy companies ceasing to trade. Omni Energy supplies around 6,000 domestic pre-payment customers, MA Energy supplies around 300 non-domestic customers, Zebra Power supplies around 14,800 domestic customers, Ampoweruk supplies around 600 domestic customers, and around 2000 non-domestic customers. Under Ofgem’s safety…

Pandemic fueling change in equity release

3rd November 2021 Banking and Loans | #equity release

New research by Canada Life has found a change in the use of equity release. Based on the company’s customer data for the first nine months of the year, it shows customers continue to use equity release to clear existing mortgages while many have also used the additional funds to purchase new property. Using equity…

Over a third of businesses spend up to 75% of time chasing late payments

3rd November 2021 Commercial Collections and Recoveries | #late payments

Over a third of businesses (32%) spend up to 75% of their time chasing overdue debts when that time would be better spent in advising their sales teams on who to do business with or not in the first place. An online survey conducted by Debt Register, a digital payment platform, found that almost a…

Economic recovery from Pandemic remains in transition

3rd November 2021 Industry opinion |

The UK’s economic recovery from the pandemic remains in a point of transition, with every sign of a positive measure being equally met by a challenge. During October 2021, the UK economy continued its recovery from the significant effects seen throughout the last 18 months, but positive signs continued to be balanced by ongoing or…

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