Credit, Collections & Insolvency News
The latest fraud threatening the UK could cost lenders at least a £4.2billion if businesses fail to act according to latest research from LexisNexis Risk Solutions. Synthetic ‘Frankenstein’ identities exploit stolen and faked personal information to spoof credit checks and commit high-value fraud against banks and credit providers. The study reveals there are almost three…
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The UK’s inflation rate has risen for the first time this year as annualised inflation came in at 2.2% in July, higher than the 2.0% reported in June. Core CPI (excluding energy, food, alcohol and tobacco) rose by 3.3% (down from 3.5%) and services inflation fell from 5.7% to 5.2%. Commenting on the inflation figures,…
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New data from Compare the Market has found that the cost of home insurance continued to rise between April and June this year. The analysis showed that home insurance premiums have increased most significantly in Northern Ireland, rising by 62% from £268 in the second quarter of 2023, to £433 this year, the highest in…
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Paragon Bank has announced the appointment of Louisa Sedgwick as Managing Director of its Mortgages division with immediate effect. Sedgwick, who has been with Paragon since April 2023, succeeds Richard Rowntree, who will be commencing a new role within the financial services industry. Sedgwick is a well-known and highly respected figure in the mortgage industry. …
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Alternative finance specialist, Reward Finance Group has announced a new partnership with LendingMetrics which will enable use of auto-assisted underwriting technology to speed up decisioning and underpin its focus on customer service. David Wylie, Commercial Director of LendingMetrics, said “Having sophisticated automated decisioning is becoming an essential ingredient for lenders wanting to maximise service levels.…
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