Credit, Collections & Insolvency News
How do we develop innovation in collections? Most importantly, how do we capture it, and put it into operation? This should be the question for forward-thinking collections professionals. Sometimes it’s difficult to lift your head up from business as usual, but innovation in collections is essential to ensure continuous improvement. In my experience of over…
Read more
Apple has announced that it will launch its own Buy Now, Pay Later (BNPL) option. The iPhone maker’s Apple Pay Later service will allow users in the US to pay for purchases in four instalments over six weeks without being charged interest or other fees. The service will be available anywhere that accepts Apple Pay…
Read more
More than two in five Buy Now Pay Later (BNPL) customers borrowed money to make repayments research bt Citizens Advice has found. The types of borrowing included overdrafts, borrowing from friends and family, loans and payday loans. The most popular was credit cards (26%). Younger shoppers were most likely to borrow to pay off BNPL…
Read more
A poll by PayPal UK saw two-thirds of SME bosses who have been running their business since before the pandemic say the last two years have been the most challenging for their business. Almost half (47%) fear that the next 12 months could prove even more difficult, with 12% saying there is a strong possibility…
Read more
MotoNovo Finance has announced that it has appointed Matt Lucas to the business’ newly created position of Head of Partnerships The Partnerships & Transformation Team includes all of MotoNovo’s partnership, specialist asset, sales development and distribution functions, including field sales specialists, distribution specialists, L&D specialists and partnerships, along with plans to grow in new specialist…
Read more
Credit card spending and personal loan borrowing both increased in the first quarter of 2022, returning to pre-Covid trends as the last restrictions were ended according to new analysis by UK Finance. Total credit card spending was £50.4 billion, with March seeing the second highest spending since the pandemic. There was a significant increase in…
Read more
Businesses in Northern Ireland had more than 93,000 overdue invoices on their books in April according to new research by R3. The report found that while the north recorded strong start-up numbers in 2022, there are signs of trouble ahead. Analysis of the data from business intelligence provider Creditsafe, show almost 3,000 new businesses were…
Read more
As the cost of living crisis continues to worsen, the impact on households is continuing to evolve, with people suffering psychologically as well as financially, as revealed by the latest Inflation Nation report from the Yorkshire Building Society. According to the report, more than two thirds (67%) of adults are concerned by the impact of…
Read more
Data-driven open banking provider, Yolt has agreed a partnership with business intelligence provider Creditsafe. The partnership will see Yolt’s recently launched Cashflow Analyser added to Creditsafe’s business information platform for business and credit professionals. Using Cashflow Analyser powered by open banking, Creditsafe will be able to instantly offer its clients access to a customer’s cash…
Read more
With prices across the board rising at their fastest rate in 40 years, the challenge for UK consumers to stay on top of their money is forcing many to have to make difficult choices with their spending priorities. As the UK inflation rate reached 9.0% in the twelve months to April 2022, the highest estimated level since…
Read more