Provident Financial has announced the appointment of Neeraj Kapur as Chief Finance Officer (CFO). Kapur will join the board and start as Chief Finance Officer on 1st April 2020. Kapur is currently Group Chief Financial Officer at Secure Trust Bank plc. He has a strong retail banking background, including consumer finance and savings products expertise.…

DJS (UK) trading as PiggyBank has entered administration. The company provided high-cost short term (payday) lending services to the UK consumer market. The company is thought to have had around 45,000 customers and was seen as one of the UK’s top 10 largest payday lenders. Shane Biddlecombe and Gordon Johnston of HJS have been appointed…

The Financial Conduct Authority (FCA) has confirmed that Active Securities trading as 247 Moneybox, have been placed into administration. Active Securities a high-cost short term lender (payday lender). In a statement that appears on the website, the company said that all existing loan agreements remain in place and will not be affected by the proposed…

Here is an overview of The Money Charity’s latest statistics for November 2019: Personal debt in the UK People in the UK owed £1,661 billion at the end of September 2019. This is up from £1,612 billion at the end of September 2018, an extra £930 per UK adult over the year. The average total…

The Financial Conduct Authority (FCA) has told guarantor lender, Amigo to explain more carefully the risks that people are taking on when they agree to guarantee a loan for a family member or friend. The FCA was concerned that guarantors were not always made fully aware of their obligations, nor of the likelihood that they…

Elevate Credit International, a UK lender offering tech-enabled online credit solutions, has appointed Steve Grice as its new Managing Director. Grice will lead the UK operation of Elevate Credit, which strives to create a fairer financial world for all. Prior to his appointment as Managing Director, Grice served as Chief Technology Officer where he was…

Credit Connect has announced its inaugural Credit & Collections Technology company power list for 2019. The power list is the first edition of what will be an annual round-up of the most prominent innovating companies within credit and collections technology. Within the list, Credit Connect has identified the top 20 ‘Premier’ innovators highlighting the achievements…

Pawnbroker H&T has said it had ceased all activities in its high-cost short term (HCSTC) credit unsecured loans business after the Financial Conduct Authority has launched a regulatory review into the business. In a company statement, the company said “The group has ceased all HCSTC unsecured lending, at least temporarily, as it works through this…

New research by comparethemarket.com has found that one in five UK adults do not know the difference between a personal loan and payday loan. Comparethemarket.com says that payday loans have come under intense criticism for charging very high-interest rates, often with a representative APR of 1,266%, and many lenders have closed down. By contrast, personal…

Credit provider, Provident Financial said it has >continued to deliver results in line with its internal plans during the third quarter. Publishing its latest trading results, the firm says all three of its divisions are producing good business volumes and a stable impairment performance. However, it also says it is continuing to cut headcount at…

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