21st September 2023 - Credit Connect

Lower than expected inflation supports case to hold interest rates – business industry reaction

21st September 2023 Commercial Credit Management |

Latest data that showed the annual rate of CPI inflation was 6.7% in August, down slightly from 6.8% in July. Commenting on the data Kitty Ussher, Chief Economist at the Institute of Directors, said “This slight fall in the headline rate of inflation is better than was expected given the increased cost of petrol in…

FCA warns insurers over fair value of add-on insurance

21st September 2023 Consumer Lending |

The Financial Conduct Authority (FCA) has warned insurers that they must prove they are providing fair value to customers for add-on insurance products. The FCA has identified evidence that some guaranteed asset protection (GAP) products In letters sent to all insurance firms, the regulator reminded them of its expectations to make sure they’re checking their…

Inflation moderates again in August – consumer credit industry reaction

21st September 2023 Consumer Collections | #economy

Figures from the Office for National Statistics (ONS) showed that prices rose less than expected in August. The annual rate of inflation fell to 6.7% last month, much lower than the rise from 6.8% in July to 7% economists had expected. Core inflation, excluding food, energy, alcohol and tobacco, stood at 6.2% in August, down…

Lantern appoints new CEO

21st September 2023 Appointments |

Debt purchase and credit management company, Lantern has announced that it is making changes to its senior leadership team. Effective 1st November 2023, Denise Crossley will move into a new role of Non-Executive Chairwoman of the Group with Paul Mason taking on the role of Chief Executive Officer (CEO). Crossley has lead the over the…

Bluestone Group sells Irish Motor Finance operations to Close Brothers

21st September 2023 Consumer Lending | #ireland motor finance

Bluestone Group has announced that it has agreed terms for the sale of its Irish motor finance operations, Bluestone Motor Finance Ireland (BMFI) to Close Brothers Limited. BMFI was established as a lending platform in 2014, after a period of several years managing acquired portfolios of assets in the Republic of Ireland. After its launch,…

Ceverine and Capital Resolve announce merger

21st September 2023 Arrears and Recoveries |

Fintech Ceverine, which offers AI-driven digital collection services, and debt collection specialist Capital Resolve have announced an agreement to merge businesses. In a joint statement, the company said that the strategic combination brings together complementary strengths of both companies. Ceverine’s expertise in machine-learning, automation and digital collections with Capital Resolve’s established history, credentials and proven…

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