Consumer credit provider NewDay has launched Aqua Coach, which uses credit information from TransUnion to help its Aqua customers learn how to build their credit score. Through the Aqua brand, NewDay provides credit to consumers that may not be served by mainstream lenders. Aqua Coach gives these customers access to their credit score, and highlights…

Latest card spending data published by UK Finance has revealed that online spending across credit and debit cards last November reached a proportion not seen since the first lockdown, in a month which included Black Friday sales and new coronavirus restrictions across the UK. Online card spending accounted for 38 per cent of the total…

The Financial Conduct Authority (FCA) has published final guidance clarifying its expectations of firms on the fair treatment of vulnerable customers. The guidance aims to drive improvements in the way firms treat vulnerable consumers so that they are consistently able to achieve outcomes that are as good as everybody else. People can find themselves in…

New research from Experian has found that one in six (60%) of consumers are e continuing to embrace digital transactions by using universal mobile wallets. The research has found that more people become accustomed to the security and convenience of the digital channel, digital transactions including mobile wallet payments are continuing to increase.  The Global…

High street banks could be forced to reimburse all scam victims under rules proposed by the Payment Systems Regulator (PSR). The new regulations would also see banks forced to publish figures showing how often they pay back blameless fraud victims. The PSR  has launched two calls for views exploring greater protections for everyone using payment…

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell in December 2020 by 18% compared with the same month in 2019, and decreased by 18% in 2020 as a whole. The retail store and online credit sector reported new business 6% lower in December than in the…

Lenders risk being overwhelmed by credit applications when the UK lifts lockdown restrictions, according to data specialist LendingMetrics. The company behind the award-winning ADP automated underwriting platform fears a leap in demand for finance when the country returns to more normal conditions. It predicts this to be likely by June or July, if the vaccine…

New analysis by FICO have indicated that the average balances on credit card accounts missing two or more payments are increasing. Analysis of card trends for December 2020 presents a mixed picture of UK consumer financial stability. Some of the data suggests that credit card users are managing their finances prudently, but where there is…

New research released by Resolver has revealed widespread confusion over payment holidays and the potential impact on people’s future finances. The company says to help people face down the financial challenges posed by the pandemic, the Financial Conduct Authority (FCA) introduced clear rules for lenders so they could offer people ‘holidays’ from mortgage, loan, credit…

The persistent debt crackdown from the Financial Conduct Authority (FCA) has pushed credit card firms to be more supportive of customers struggling with long-standing debt since the rules came into force in 2018. However, according to the latest analysis from Moneyfacts over the same period the interest-free balance transfer market has contracted. The analysis reveals…

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