6th October 2023 - Credit Connect

FLA appoints new Chair

6th October 2023 Appointments |

The Finance & Leasing Association (FLA) has announced the appointment of John Phillipou as the new Chair of the Association. He succeeds Rebecca McNeil, who held this post since 2021. Phillipou is Managing Director of SME Lending at Paragon Bank, and his career spans over 25 years in business lending, both in the UK and…

SMEs unable to access financing amid economic uncertainty

6th October 2023 Asset Finance | #business finance

New research by Praetura, has revealed that three in five (59%) SMEs and their brokers surveyed say that it is more difficult now to access the funding they need to grow than in the last five years, as a funding crunch hits Britain’s small businesses. SMEs suggest that servicing demand is their biggest challenge, not…

Water company complaints increase by 29%

6th October 2023 Consumer Collections | #water billing complaints

Water watchdog CCW has said it has seen a 29% rise in complaints made to it about water companies in the first quarter of the current year with poorest performers failing to get to grips with high levels of customer complaints. 232,817 complaints were made to water companies in England and Wales by households in…

Financial services activity holds firm in the third quarter

6th October 2023 Commercial Credit Management |

Financial services activity held relatively firm in Q3 of 2023, despite some softening from a buoyant second quarter. Optimism and business volumes growth were quick in the three months to September, although to a lesser extent than the previous quarter, according to the latest CBI Financial Services Survey. The quarterly survey, found that Financial Services…

Small business credit card spending up by 22% since the pandemic

6th October 2023 Business Lending | #business spending

New research by Intuit has found that UK small business credit card spending up by 22% since the pandemic amidst funding challenges. With elevated inflation and high-interest rates, small businesses have increasingly depended on their credit cards, with the current spending being 20% higher, on average, than they were before the pandemic. At the same…

TransUnion and Tymit agree fraud prevention partnership

6th October 2023 Company News | #fraud

TransUnion has announced that it has partnered with London-based fintech company Tymit to help mitigate fraud risks whilst enabling friction-right experiences for consumers applying for Tymit’s pioneering instalment credit card. Tymit offers an alternative to traditional credit cards and buy now, pay later offerings and launched the world’s first instalment credit card. However, the credit…

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