4th March 2024 - Credit Connect

Asset finance reached record high of £23.5bn in 2023

4th March 2024 Asset Finance | #asset finance

The British Business Bank’s Small Business Finance Markets 2023/24 report reveals that asset finance has grown for the third consecutive year, reaching a record high of £23.5bn in 2023, increasing by 7%/ The increase follows a rise of 11% in 2022 and 23% in 2021 and highlights the continued rebound in the asset class as…

Four in ten renters consider moving back with parents to boost savings

4th March 2024 Consumer Lending | #house savings

New research by Skipton Building Society has found that four in 10 renters would consider moving back in with their parents so they can save enough to get on the property ladder. The poll of 2,000 renters with an ambition to buy a home found that 52 per cent of those considering it feel it’s…

Call for protection from pace of AI adoption

4th March 2024 Commercial Credit Management | #Artificial Intelligence

Small firms need protection from deepfakes and improvements to the education system to allow Artificial Intelligence (AI) to live up to its true potential, a new report by the Federation of Small Businesses (FSB) shows. Redefining Intelligence: The Growth of AI Among Small Firms, published today, emphasises that while the technology can work in tandem…

Credit card complaints hit all time high

4th March 2024 Alternative Consumer Lending | #financial services complaints

Latest data from the Financial Ombudsman Service (FOS) has found that credit card complaints reached a record high in Quarter 4 2023, with consumers lodging 5,660 complaints. 3,086 of credit card complaints were due to unaffordable or irresponsible lending. The figures marks the highest level of complaints in a three-month period since 2014/15. Other products…

Virgin Media O2 clients hit with 8.8% price rises

4th March 2024 Consumer Collections | #telecoms price rises

Virgin Media O2 customers are facing a ‘lose-lose choice’ between the highest mid-contract broadband and mobile price rises, or crippling exit fees running into hundreds of pounds, the consumer group Which? has warned. Virgin Media and O2 are expected to go ahead with price increases of 8.8% this April – the latest RPI figure of 4.9%…

Business Systems appoints new CEO

4th March 2024 Appointments |

Compliance and digital transformation solutions company, Business Systems has announced the appointment of Mike Wardell as the company’s new Chief Executive (CEO). Wardell joins Business Systems from Giacom, where he served as CEO and led the transformation of the business into a cloud marketplace. Talking about his role as CEO, Mike Wardell said “As well…

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