10th January 2025 - Credit Connect

Cash ATM withdrawals rise by 4.6%

10th January 2025 Consumer Lending | #cash withdrawals

Cash usage is thriving as withdrawals ratcheted up for the third year in a row since the pandemic, data from Nationwide has found. The recent surge comes as many people opt for cash to budget at a time when the cost of living remains high. The biggest building society recorded around 32.8 million cash withdrawals…

Three-fifths of people are positive about personal finances for 2025

10th January 2025 Consumer Collections | #personal finances

Research by Aegon reveals a growing optimism regarding personal finances for 2025, with three-fifths of people (60%) of respondents feeling positive, up from 52% in 2024. However, women (54%) and individuals aged 50 to 59 (47%) are less optimistic compared to the overall population. The survey showed that 60% are feeling positive overall about their finances…

Financial services optimism falls as Autumn Budget measures impact investment plans

10th January 2025 Consumer Lending |

Optimism in the financial services (FS) sector fell at the quickest pace since September 2022, according to the latest CBI Financial Services Survey. That is despite business volumes growing at a faster pace in the quarter to December. The quarterly survey, conducted between 21st November and 9th December 2024, showed that FS firms expect a…

Flint Bishop makes trio of Debt Services senior appointments

10th January 2025 Appointments | #appointments

Law firm Flint Bishop has announced three senior leadership appointments within its Debt Services division. Andrew Mitchell joins as Head of Operations, bringing over 25 years of experience in debt management within the utilities industry. Most recently, Mitchell served as Strategic Review & Debt Lead at E.ON UK, where his strategic foresight and process innovations…

Average personal guarantee backed loan rises 9%

10th January 2025 Alternative Business Lending | #business loans

New research by Purbeck Insurance has found that the average personal guarantee-backed loan rose 9% to £174,000 in Quarter 4 (Q4) in 2024. In the final quarter of 2024, there was a 25% increase in small businesses applying for personal guarantee backed business loans compared to the same quarter of 2023. Indeed, for the whole…

Consumers prefer email when contacting customer service departments

10th January 2025 Consumer Collections |

New research by TCN has found that more than half of consumers prefer to communicate by email when contacting a company’s customer service department The results showed that preferring to speak to a person or live chat with an agent with the next best options. While consumers don’t mind waiting on hold, they highly value…

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