Credit, Collections & Insolvency News
British businesses are more confident than in any month since May last year, according to Lloyds Bank’s latest Business Barometer. The index rose by 11 points to 32% in March, with this driven by rising optimism about the outlook for the economy. While wage expectations increased slightly in March, Lloyds said it detected signals that they…
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Peer-to-peer lender The Money Platform has announced that it has agreed on a partnership with LendingMetrics to use their Auto Decision Platform (ADP) technology. The Money Platform enables an alternative line of credit for ’thin-file’ customers, by “connecting borrowers and lenders” without the hassle of financial institutions acting as middlemen. The platform is secure, transparent,…
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This weekend’s increase in the minimum wage won’t ‘lift the pressure’ on hard-pressed families, the TUC has warned. The TUC highlighted that the minimum wage will rise below inflation and far lower than soaring food prices. Analysis by the union body shows that minimum wage workers will miss out on £124 this year as a…
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Fraud prevention service, Cifas has welcomed the launch of the new Economic Crime Plan and its commitment to reduce fraud and money laundering, but warns that excluding SMEs from the ‘failure to prevent’ fraud offence may leave them vulnerable to fraud. The plan places a greater focus on fraud, which includes greater prosecution and disruption of offenders.…
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New research by lobbying group Coalition for a Digital Economy (Coadec) that the sector is at a ‘vital crossroads.’ The open banking sector has created 4800 jobs and is valued at £4.1 billion. The policy group has based its analysis on data from 82 fintechs active in the open banking sector. The value of the…
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Small business lender iwoca’s latest SME Expert Index data – based on UK finance brokers who submit over 2,000 SME finance applications a month – has revealed a third of experts (32%) report increased business running costs as small businesses’ top concern. The Budget statement contained a number of measures that touched on these worries.…
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As the Economic Crime and Corporate Transparency Bill makes its way through the House of Lords, a new corporate criminal offence of ‘failure to prevent fraud’ is likely to hit businesses soon according to research RSM UK Figures obtained by RSM UK under a freedom of information request show a 10% rise in reported cases…
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Digital lending marketplace, Freedom Finance has announced that it has appointed Nick Jones as Director of Freedom for Intermediaries. In his new role, Jones will lead the growth and development of Freedom Finance’s intermediated division through its Freedom for Intermediaries offering, a service dedicated to intermediaries who are looking to support their clients with specialist…
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Female-led start-up Inicio AI has been selected to join the NatWest business accelerator programme at the University of Warwick Innovation District hub. The programme, delivered jointly by NatWest and WMG, University of Warwick provides 1:1 coaching, access to their accelerator growth events and access to work space, as well as learning hubs at the University…
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