15th February 2024 - Credit Connect

Inflation holds at 4% – business industry reaction

15th February 2024 Commercial Credit Management | #inflation

Latest ONS data has found that inflation held steady at 4% year-on-year in January on the back of easing prices for furniture and household goods, food and non-alcoholic beverages. Month-on-month, the headline consumer price index fell to -0.6%, returning to negative territory after December’s surprise increase by 0.4% on the month and 4% annually. Economists…

Surge in young adults needing help with managing money

15th February 2024 Arrears and Recoveries |

The number of young people needing help with managing money has doubled since 2019, Citizens Advice has reported. The charity, which supported 66,000 under 25s last year alone, says one in five (20%) young adults seeking its advice need help with debt. Citizens Advice warns many young people are feeling particularly squeezed by the cost-of-living…

FCA stops thousands of misleading ads and promotions

15th February 2024 Consumer Lending | #financial services regulation

Over 10,000 financial adverts and other promotions were withdrawn or changed in 2023 following intervention from the Financial Conduct Authority (FCA), an increase of 17%, year-on-year. The FCA also published 2,285 alerts to help prevent consumers from losing their money to scams, up from 1800 in 2022. After being given new powers by the Government,…

SmartSearch appoints new VP of Technology

15th February 2024 Appointments |

Digital compliance and anti-money laundering (AML) software company SmartSearch has announced that it has promoted Andrew Booth to the position of Vice President of Technology – one of 16 promotions across its nearly 200-strong team. Booth joined SmartSearch more than five years ago and has served as its head of technology. In his new role of…

Inflation holds steady – consumer credit industry reaction

15th February 2024 Consumer Collections | #inflation

Latest data from the ONS showed annualised inflation remained at 4% in January, unchanged from December. Economists had predicted a small rise, however prices were down 0.6% in a month. The numbers are a long way from the peak at 11.1% in October last year, Commenting on the data Sarah Coles, Head of Personal Finance at…

Moneyline agrees financial inclusion partnership with Ordo

15th February 2024 Company News |

Social lender and financial inclusion Moneyline has announced the expansion of a partnership with Ordo. The partnership means that Moneyline can now offer a payment option that can help reduce the amount of interest borrowers pay in real terms. Interest is calculated daily, so paying off a portion of the balance sooner when funds are…

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