1st February 2022 - Credit Connect

Smart systems for smart collectors

1st February 2022 Industry opinion |

As collections systems become more digitised to automate as much of the customer journey as possible, we increasingly hear the concept of an agentless environment…but is it a reality? How We Got Here The explosion of consumer credit saw an increasing need for dedicated credit control. Would you believe that initially, this meant dictating letters…

Equity release customers to be given right to make partial repayments on lifetime mortgages

1st February 2022 Consumer Lending | #equity release

New equity release customers will be able to mitigate the costs of borrowing in later life through a new product safeguard announced by the Equity Release Council (the Council), the representative industry body. From 28th March 2022, all customers taking out lifetime mortgages that meet Council standards will be guaranteed the right to make penalty…

Businesses’ confidence remains steady despite rising price concerns

1st February 2022 Commercial Credit Management | #business confidence

The latest Lloyds Bank Business Barometer shows that overall business confidence dropped by one point to 39% as firms highlighted continuing concerns about the pandemic and rising costs. The survey captured responses between 4th January and 18th January before the easing of work from home guidance by the UK governments and shows price expectations reached…

Optimum Finance appoints Regional Director

1st February 2022 Appointments | #appointments

Optimum Finance has announced the appointment of Mike Stevens as Regional Director. Stevens, re-joins the team at Bristol-based specialist invoice finance provider from Peak Cashflow. Optimum has invested heavily in its team in 2021 with 14 new hires, including the expansion of its technology team by 350%. This rapid growth has resulted in Optimum being…

FCA appoints Practitioner Panel Chair

1st February 2022 Appointments | #appointments

The Financial Conduct Authority (FCA) has appointed Direct Line Group CEO, Penny James, as Chair of its Practitioner Panel. James who has been a member of the Panel since September 2020, will take up the post from 1st March 2022. She succeeds Paul Feeney, CEO of Quilter. The FCA Practitioner Panel is an independent statutory body…

Households spending up to 77% of income to cover rental living costs

1st February 2022 Arrears and Recoveries | #rent and cost of living

Households are spending up to 77% of their income to cover the rental cost of living according to latest property market analysis by London lettings and estate agent, Benham and Reeves. The research shows that the average UK rental household pays £808 per month in rent, accounting for 26% of total monthly household income. The…

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