7th July 2025 - Credit Connect

Consumer confidence rises as summer holiday season begins

7th July 2025 Consumer Lending | #consumer confidence

Seven in ten people are set to holiday, though 75% of those are finding ways to cut travel costs compared to their last trip, according to new KPMG research. The number of people feeling financially secure has risen this quarter by three percentage points to 58%, whilst confidence that the UK economy is improving has…

High street sales slump continues

7th July 2025 Commercial Credit Management |

Total like-for-like retail sales in discretionary categories (fashion, homewares and lifestyle) remained below inflation in June, compared to a positive base of +3.2% in June 2024, according to the latest High Street Sales Tracker from accountancy and business advisory firm BDO. The disappointing performance was driven largely by low sales growth in stores, at just +0.6% compared…

Fair Finance and Vanquis launch credit decline referral partnership

7th July 2025 Company News | #partnership

Fair Finance and Vanquis have announced the launch of a first-of-its-kind decline referral scheme that aims to support over 100,000 financially underserved people across the UK over the next two years. The scheme will direct Vanquis customers who are not yet eligible for its products to a community development finance institution (CDFI), Fair Finance, where…

UK Finance calls for Financial Ombudsman Service reform timetable

7th July 2025 Consumer Lending |

UK Finance has backed calls that the Financial Ombudsman Service (FOS) should be stopped from acting as a quasi-regulator”and insists on a timetable of reform for the body. The move comes in the banking body’s submission to the government ahead of the Chancellor Rachel Reeves’ Mansion House speech later this month and the Treasury’s Financial…

One in four financially vulnerable people have no savings

7th July 2025 Consumer Collections | #financially vulnerable

New data from Fair4AllFinance has found that one in four people (24%) in financially vulnerable circumstances in the UK hold no savings at all. The data showed that 10 million people across the UK have stopped saving entirely, or are saving less than they did a year ago. The 10 million figure represents more than…

2025 Credit & Collections Industry Awards Review published

7th July 2025 Consumer Collections | #awards #featured

Credit Connect has published the annual 2025 Credit & Collections Industry Awards Review. The annual review highlights why the judges decided the winners at this year’s Industry Awards, which were announced in May in York. The review provides background and context for the awards results, recognising companies for the progression of industry standards and excellence.…

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