Financial services companies appear to have increased their appetite for risk compared to businesses in other sectors, a report has found. The Q3 2018 Global Supply Chain Risk Report, published by Cranfield School of Management and Dun & Bradstreet, investigates the level of perceived supply chain risk faced by European companies with international supplier relationships.…

Here is an overview of The Money Charity’s latest statistics for November 2018: Personal debt in the UK People in the UK owed £1.605 trillion at the end of September 2018. This is up from £1.560 trillion at the end of September 2017, an extra £870.78 per UK adult and £76.54 higher than the previous month. The average total…

The Financial Conduct Authority (FCA) has proposed to introduce a price cap on the rent-to-own (RTO) sector. The cap, subject to consultation, will come into force on 1 April 2019 providing protection for some of the most financially vulnerable people in the UK. Once in force, the changes are expected to save consumers up to £22.7m per…

According to ender Welendus, 15% of short-term loan applications are being made to cover household bills. 42% of loan requests were to pay for surprise bills, Of the 35,000 loans peer-to-peer lender Welendus has received this year, 5,000 have been to meet the cost of regular bills. The FCA-approved ethical lender has revealed that 2,400…

The Financial Conduct Authority (FCA) has informed Provident Financial that its Home Credit and Satsuma businesses have been fully authorised. Malcolm Le May, Chief Executive Officer of Provident Financial plc said “This is excellent news for our customers and testament to the improvements achieved in Home Credit during the past year from an operational and…

Provident Financial has announced the appointment of Simon Thomas as Chief Finance Officer. Thomas will join the board and start as Chief Finance Officer on the 3rd December 2018. Andrew Fisher, the current Finance Director will step down from the Provident Financial board when Thomas takes up his appointment, but will remain employed by the company…

A new report by research specialist Gartner says that Digitalisation will make most heritage financial firms irrelevant by 2030. These firms will struggle for relevance as global digital platforms, fintech companies and other nontraditional players gain greater market share, using technology to change the economics and business models of the industry. Speaking at Gartner Symposium/ITxpo 2018 on…

The Government has that it will introduce a No-Interest loan scheme and breathing space plans as part of the Autumn budget announcement. Responding to the news The Money Advice says it ‘welcomes action’ on tackling problem debt, including the new details of the government’s Breathing Space scheme, plans to pilot a no-interest loans initiative and…

The Central Bank of Ireland has fined E-Services & Communications Credit Union (ESSCU) €155,000 and reprimanded it for a contravention of regulatory requirements contained in Section 21 of Central Bank Reform Act 2010. The contravention was admitted by E-Services and the enforcement action has been concluded by way of settlement agreement between the parties. A…

Home improvement finance facilitator Consumer Credit Solutions (CCS) has announced that it has appointed Lewis Jenkinson to provide support to its retail partners and assist with consumer finance compliance. CCS Executive Director, Peter Nicholson, said: “We have always been committed to providing the best possible service to our retail partners, and to ensuring they have…

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