18th November 2021 - Credit Connect

Scottish business insolvencies rise by 58%

18th November 2021 Business | #business debt

The number of business insolvencies (liquidations and receiverships) in Scotland rose by 58% in October 2021 when compared with October 2020 according to latest Accountant in Bankruptcy (AiB) figures. In October 2021 there were 68 company insolvencies registered in Scotland, 58% higher than in October 2020 but 18% lower than in October 2019. This comprised…

Northern Irish business insolvencies rise by 75% whilst personal insolvencies decline

18th November 2021 Business |

Latest statistics from the Insolvency Service have shown that Northern Irish business insolvencies increased by 75% whilst personal insolvencies declined by 1% in the latest monthly figures. In October 2021 there were 102 personal insolvencies in Northern Ireland, 11% lower than October 2020 and 56% lower than October 2019. This consisted of 95 IVAs, four…

AI and Machine Learning revolutionising payments

18th November 2021 Consumer Lending | #payments

The Payments Association (formerly The Emerging Payments Association (EPA)) has announced the release of its latest research, ‘Using AI Intelligently: Smart ways to use Artificial Intelligence in Payments’, showing how artificial intelligence (AI) and machine learning (ML) are being used in the payments, finance and banking sectors and how they may be used in the…

Business insolvencies fell by 3% in October

18th November 2021 Business | #business insolvencies

Latest figures from the Insolvency Service has shown that the number of businesses in England and Wales that business insolvencies fell by 3% in October to a total of 1,405 compared to September’s total of 1,449, and increased by 63.6% compared to October 2020’s figure of 864. The increase in company insolvencies compared to October…

Businesses predict strong festive trading period as payments volumes rise

18th November 2021 Commercial Collections and Recoveries |

British SMEs are starting to feel more confident about the performance and resilience of their own businesses, despite challenges in the wider economy, according to the latest quarterly Barclaycard Payments SME Barometer. Over half (54 per cent) of UK SMEs are expecting revenues to increase in Q4, compared with performance in Q3 2021. Yet concerns…

Personal insolvencies fell by 3% in October 2021

18th November 2021 Arrears and Recoveries | #personal insolvencies

Latest figures from the Insolvency Service have indicated that Personal insolvencies fell by 3.0% to 9,668 in October 2021 compared to 9,966 in September 2021, and were 19.2% lower than October 2020’s figure of 11,960. There were 601 bankruptcies were registered, which was 44% lower than October 2020 and 57% lower than October 2019. The…

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