The mispricing of risk in consumer credit is a threat to all lenders, particularly those that lack flexibility. Years of low interest rates and fierce competition in the UK credit market has created a price war. Lenders are using cheaper loan products with wider consumer appeal to retain existing customers and capture new market share.…

When the Treasury announced that £5.67 million of funding will be provided to Britain’s Illegal Money Lending Teams (IMLT) and bodies in Northern Ireland to tackle illegal lending, this was of course met with a welcome response, representing a 16% increase compared to the previous year. This sum will be used to crack down on…

We can all agree I’m sure that getting paid late is frustrating. Why then do we often take so long to do anything about it? According to a BACS survey, late payment is costing smaller businesses more than £2 billion a year. And that’s only the costs you can measure in monetary terms. Yet intangible costs…

If you were an SME rejected for bank funding 15 years ago, could you have imagined a world where that wasn’t your only option? Whether you’re after more of it, want to spend it in different ways, or just want to manage it better, the 2008 crash opened up more opportunities than ever when it…

Since it was introduced in the latter half of the twentieth century, there’s been a sense – until recently – that Artificial Intelligence (AI) has not quite lived up to its own hype. That’s changed in the last few years as advances in processing power, modelling techniques and a proliferation of data have transformed the…

I launched the Credit & Collections Technology Awards in 2017 to highlight the success of technological innovation within the UK credit and collections industry. Over the years, I have attended many conferences which have discussed the theme of technology and customer outcomes during the day but not celebrated the achievements of such at the dinners…

Like most of the financial services industry, the debt collection sector has traditionally been male-dominated. But thankfully things are changing – for the benefit of both businesses and customers. Here at the CSA we have a senior management team made up of several women including our Head of Regulatory Standards & Compliance, Claire Aynsley, who…

If ever there was a pivotal moment in the future of digitalisation that time is now. The Cambridge Analytica Facebook scandal, which has sparked controversy over foreign state interference and election rigging, has far wider implications. It brings under scrutiny how we harvest data, what it is used for, and how we control its dissemination…

The government has announced plans to ban late payers from bidding on government contracts.  But, whilst it’s great to see the government finally proposing to clamp down on poor payment practices running through its supply chains, more needs to be done for us to see a real cultural change in late payment. The proposals, which come…

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