Credit, Collections & Insolvency News
The British Business Bank (BBB), which helps small businesses access finance, has warned that smaller firms face a challenging few years on the back of the economic downturn. The BBB said lending to start-ups and the smallest businesses could be particularly vulnerable to the impact of economic uncertainty as they often do not have collateral.…
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Despite the considerable headwinds of soaring energy prices, recession forecasts, and soaring inflation, small business leaders in the UK nonetheless remain bullish in their approach, with the majority adapting and reacting to the changing economic environment according to new research from Novuna Business Finance. The quarterly tracking study of 1,201 small business leaders found that…
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Banks will be forced to reimburse anyone who loses more than £100 to bank transfer or payment fraud, under new plans outlined by the Payment Systems Regulator (PSR). As of next year, victims will get their money back in all but exceptional cases. The regulator said the policy change will incentivise banks and building societies…
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Ofcom is urging telecoms firms to do more to support their customers through the cost-of-living crisis, as new research reveals record numbers of households are struggling to afford their communications services Ofcom’s annual affordability study finds that nearly a third (29%) of customers, around 8 million households, are having problems paying for their phone, broadband, pay-TV…
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Tandem has announced a Chief Executive Officer (CEO) succession plan for the business that will take effect over the coming months. Having led the business through a period of significant transformation over the past 18 months, Susie Aliker has informed the board of her intention to step down in the coming months. The board has…
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Soaring energy, food and fuel prices have forced 1.2 million UK adults (2%) to turn to unscrupulous loan sharks in the last 12 months according to research from the Vulnerability Registration Service. Released during National Stop Loan Sharks Week, the research also revealed that this picture is twice as bad for the most vulnerable in society, with…
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A fifth of households (20%) will only be able to cope with rising bills this winter by cutting back their energy use, according to new research from Uswitch.com, the comparison and switching service. Despite the Government’s energy price guarantee and £400 bill support, energy bills are still set to increase from the 1st October, and…
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Equifax has announced the appointment of David Wilson, as Chief Commercial Officer (COO) of Equifax UK. Wilson joins the Equifax team with a wealth of commercial leadership experience, spanning two decades in the sector, and a strong track record of success transforming global teams and businesses. Most recently, David has developed data and analytics…
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Experian has announced the launch of Experian Fraud Score, a next generation fraud prevention solution which will help businesses of all shapes and sizes to detect fraud at the point of application, transaction and throughout the customer lifecycle. The service is independent of any data consortium membership, allowing organisations to have access to an advanced fraud…
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Credit bureau Nova Credit has announced that it has partnered with HSBC to provide the bank with global access to its cross-border credit data product,. The partnership will allow HSBC to access the translated credit history of new-to-country consumers as part of their credit applications, upon their permission. The solution will enable the bank to…
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DCB Legal, a legal practice specialising in civil and commercial litigation, and debt recovery, has welcomed two new apprentices to its highly sought-after solicitor apprenticeship scheme. Amongst the successful apprentices is 23-year-old Bethany Forster, who joined the company in 2019 whilst undertaking a summer job in the accounts department. After completing her first apprenticeship with…
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