Research released from Barclays has revealed that one in seven (14 percent) SMEs have fallen victim to an invoice scam in the last 12 months. Exclusive data from the bank also shows that a quarter (28 percent) of reported invoice scams resulted in losses of more than £5000. The bank’s figures also reveal that hotspots…

More than four in 10 businesses in the UK are unaware of the risks posed by invoice fraud, according to a survey by banking trade body UK Finance. Invoice finance cost firms almost £93 million in 2018. The fraud takes place when fraudsters trick firms into transferring money by posing as legitimate payees. There were…

Risk management specialist Equiniti Riskfactor has published new research which has found that invoice finance and asset-based lending (abl) returned to growth in the second half of 2018, through analysis of UK Finance’s industry statistics. Total advances at the end of December 2018 totalled £22.7b, up over £100m from the previous quarter and up 2.4%…

New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 9% in January, compared with the same month last year. The plant and machinery finance and IT equipment finance sectors reported new business growth in January of 26% and 45% respectively, compared…

Net lending to SMEs shrank to £500m last year, compared with £700m in 2017, according to a new report by the British Business Bank. The study also reveals a dramatic slowdown in the growth of alternative forms of funding, including peer-to-peer lending and asset finance. Lending through peer-to-peer platforms rose by 18% last year, compared…

UK Finance has published its latest business finance update for December 2018 which reveals that lending to manufacturers grew by 8.4 percent in the year to December 2018, in contrast to a 0.3 percent contraction in overall UK business borrowing. There was also annual growth in borrowing by the transport and accommodation and food service…

Total business volumes in the financial services sector fell slightly in the three months to December, marking the first contraction of demand since September 2013. That’s according to the latest CBI/PwC Financial Services Survey. Meanwhile, sentiment among financial services deteriorated further, rounding off three full years of flat or falling optimism. The quarterly survey of 84…

New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) in November was at a similar level to the same month in 2017. The plant and machinery finance and business equipment finance sectors reported new business up in November by 9% and 8% respectively,…

Accountants are helping their clients find the right funding options and referring them to external providers. Research from business finance company MarketInvoice reveals that UK accountants are most likely to refer their clients to banks, with invoice finance as the second most popular lender of choice. Two thirds (66%) of accountants surveyed said that they…

Data from the winners and finalists of the second annual Credit & Collections Technology have been collated and are now available as part of a report reviewing the 2018 event. The Awards report highlights the unique and transparent ethos of the scheme by providing graphs, statistics and judges comments which highlight the results. The Awards event,…

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