21st June 2024 - Credit Connect

Interest holds rates at 5.25% – business industry reaction

21st June 2024 Commercial Collections and Recoveries |

The Bank of England has kept interest rates at 5.25%, a 16-year high, with a majority of the Monetary Policy Committee (MPC) agreeing that further evidence of diminishing inflation persistence was needed before reducing the degree of monetary policy restrictiveness”. The MPC voted 7-2 in favour of freezing the base rate. Following the decision by…

Interest rates hold – consumer credit industry reaction

21st June 2024 Consumer Collections | #interest rates

The Bank of England has opted to hold the base rate at 5.25%, this marks the seventh consecutive meeting where the Monetary Policy Committee has opted against raising or cutting interest rates. The MPC voted 7-2 to hold rates steady, with the dissenters preferring a cut of 0.25% to 5.0%. The decisions follows the announcement…

Awards Season – making it count

21st June 2024 Industry opinion |

It is nearing the end of exam season and in the last couple of weeks, I have also spent some time marking… judging industry award entries. As always it has been an interesting process, with lots of close entries, which often made it hard to determine winners. Of course a winner there has to be.…

Credit & Collections Technology Awards Ceremony

IE Hub announces three new partnerships

21st June 2024 Company News |

Debt management platform, IE Hub has announced three new partnerships with Yorkshire Water, Amplifi Capital, AutoMoney Motor Finance. After an initial trial in 2023, AutoMoney Motor Finance is the latest car financier to partner with IE Hub. The new partnership strengthens the already customer-focused car finance company, making debt management easier for AutoMoney Motor Finance and its…

One in two consumers using Open Banking without realising

21st June 2024 Consumer Lending | #open banking

New research by emerchantpay has found that there is strong market potential for merchants who prioritise the adoption of Open Banking payments early in their payment strategies. The survey of consumers found that one in two people are unknowingly using Open Banking during checkout, with more than half (51%) of the population being unfamiliar with the term…

Natwest enters into an agreement to acquire Sainsbury’s Bank

21st June 2024 Consumer Lending | #mergers

Natwest Group has announces that it has entered into an agreement with Sainsbury’s Bank to acquire the retail banking assets and liabilities of Sainsbury’s Bank which comprises its outstanding credit card, unsecured personal loan and saving accounts. NatWest Group expects to acquire approximately £2.5 billion of gross customer assets, comprising £1.4 billion of unsecured personal…

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