Credit, Collections & Insolvency News
The winners of the 2023 Credit & Collection Technology Awards winners have been announced following a live in-person event yesterday (Thursday 23rd November) at the Midland Hotel in Manchester. The awards are the flagship event for innovational technological professionals working in credit and collections and the seventh annual event honoured the UK’s technological innovators, celebrating…
Read more
The Office for National Statistics (ONS) has reported that a record number of businesses closed across the UK last year, surpassing the ‘birth rate’ of new businesses. The research found that 345,000 businesses shut their doors in 2022, the highest figure since records began in 2002. Meanwhile, 337,000 new businesses started trading, down from the…
Read more
New research from GfK has found that there were signs shoppers were feeling more confident in their spending. GKF’s monthly Consumer Confidence Index was still in negative territory in November, but had increased by six points to -24. Joe Staton, Client Strategy Director GfK, said “Consumer confidence strengthened in November with improvements across all measures.…
Read more
Nearly three-quarters (70 per cent) of financial services firms are in the pilot stage of testing the use of generative (content production-focused) AI, while nine out of ten (91 per cent) already use predictive AI for functions including fraud detection and risk analysis by UK Finance and global management consultancy Oliver Wyman. Three-quarters of firms…
Read more
Over half (52%) of UK workers say they always or occasionally feel regret about what they’ve spent their salary on just one week after payday, with half (50%) of non-essential spend going towards dining out (50%), followed by clothes shopping (48%), takeaways (42%), hobbies and activities (39%), socialising (34%), and subscriptions (32%). New research from…
Read more