20th July 2023 - Credit Connect

The future of workflow automation and compliance

20th July 2023 Industry opinion |

It seems that lately, you can’t move for news about the Artificial Intelligence (A)) revolution, which is taking place all over the world, and which has resulted in many business sectors looking at how they may deploy AI in a way that adds value to their business and customer experience. As Head of Strategy for…

Credit card balances climb by 9.5%

20th July 2023 Arrears and Recoveries | #credit card debt

Latest UK Finance figures has shownn that outstanding balances on credit card accounts has grown by 9.5% over the past year. UK consumers held more than £61 billion in credit card debt at the end of April, up from £57 billion last year and £1.2 billion more than at the beginning of 2023. 49.6 per…

Inflation rate fall eases pressure on mortgages

20th July 2023 Arrears and Recoveries | #mortgage inflation

The joint second largest fall in inflation since the start of the century in June – exceeding market expectations – will ease the pressure on further interest rate rises, and has ended the UK’s 18-month period of falling real wages, according to the Resolution Foundation. CPI inflation fell from 8.7 per cent in May to…

Inflation falls to 16-month low – credit industry reaction

20th July 2023 Consumer Collections | #inflation

Inflation fell to 7.9% in June, from 8.7% in May, according to the Office for National Statistics (ONS). The price rises, as measured by the consumer prices index (CPI), at the lowest rate since March 2022. The fall in inflation exceeds analysts’ expectations, with a dip to 8.2% having been forecast. The ONS said falling…

Inflation falls to 7.9% – business industry reaction

20th July 2023 Commercial Credit Management | #inflation

Latest data from the Office of National Statistics (ONS) has shown that the annual rate of CPI inflation fell to 7.9% in June 2023. The figures is down from 8.7% in May and well below market expectations. Inflation peaked at 11.1% in October. Core CPI inflation (stripping out energy, food, alcohol and tobacco) finally fell…

SMEs lost £1.9bn as a result of supply chain delays

20th July 2023 Commercial Collections and Recoveries | #supply chain delays

New research by Aldermore has found that £1.9 billion lost in income small and medium-sized enterprises (SMEs) as a result of supply chain delays. 3.3 million (60% or three in five) small and medium-sized enterprises (SMEs) have experienced supply chain delays in the last year, losing an average of £625,000 in income each as a…

AperiData and PayPoint agree partnership

20th July 2023 Company News |

AperiData has announced that it has joined forces with payment and retail services specialist, PayPoint. T The company says that the collaboration marks a significant milestone in the evolution of the UK’s Open Banking offerings. It targets the modernisation of the dated Consumer Credit scoring market by blending in real time Open Banking data for…

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