Fifteen months after open banking launched in the UK, consumer understanding of what it means remains low. In January this year, research showed that just 9% of British adults had used open banking services, and less than a quarter (22%) had even heard of it. In fact, this is only part of the picture. Just because…

As the Evening Standard delicately put it on Wednesday last week, having taken over consumer credit from the “light touch” Office of Fair Trading some five years ago, the Financial Conduct Authority is now firmly in charge and is sinking its teeth into lenders’ backsides. The FCA has shown its teeth several times recently, including…

The last few weeks have seen an unprecedented number of press releases from the Financial Conduct Authority regarding the consumer credit industry. The regulator has good intentions like any worthwhile organisation but its current cosseting approach does the consumer a disservice and is consequently narrowing their availability to responsible, regulated credit. In August 2018, Sky…

Are you uncertain of what to do because a winding-up petition has been filed against your company? A winding-up petition is a legal action put forward by a creditor to the court against a company in order to settle debts. If you fail to prevent a winding-up petition, it could eventually lead to your business…

A notice of enforcement (previously known as a distraint order notice) is a formal document that a creditor can issue to a debtor, giving warning that it is preparing to take action to recover money owed. The notice gives the creditor the power to take control of a debtor company’s goods and sell them at…

Almost two years on from the introduction of the Apprenticeship Levy, we are taking the opportunity to reflect on our experiences as a RoATP Provider so far and looking forward to what the future holds. Behind all the headlines about the mixed response to and success of the Apprenticeship Levy are some real success stories…

On 28th November 2018, the Bank of England (BOE) published the results for the 2018 Concurrent Stress Test run by the seven largest banks in the UK. Banks had to present their capital position across a 5-year forecasting horizon, under a stress scenario more severe than the 2008 financial crisis. While the results overall were…

While there are some companies growing strongly at present, the current political and economic uncertainty has created an environment where many are finding it increasingly difficult to plan long-term. The FSB has pointed towards the “chaotic” Brexit negotiations to explain the recent drop in business confidence. On top of this, the government’s business insolvency figures…

In the last 6 months, 62% of smartphone users have made a purchase using their mobile devices, making mobile transactions a key function for many businesses. While the number of mobile transactions is on the rise, the same cannot be said for effective mobile strategies which collect payments and debts. With an increasing emphasis on…

It’s hard not to have a degree of sympathy for the challenges facing the car industry at the moment. Sales down, confidence waning, diesel cars vilified and now, the latest blow in the form of Nissan’s decision to pull production of its X-Trail from Sunderland. Rather than this being the ultimate doomsday scenario for our…

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