The recent ‘Car Buyers Report’ by AutoTrader has once again got the automotive industry talking – particularly around a common frustration and mistrust of the vehicle purchasing process on behalf of the consumer.  Of those polled, 14% of respondents thought the customer journey had worsened, while more than half believed the car-buying experience had remained…

Building trust is an essential part of any stable business relationship. Whether you want to connect with a potential client, vendor, or landlord, you need a way to demonstrate your trustworthiness and convey the value of your business. A business credit file can effectively demonstrate your business’s reliability and make your business more attractive to…

Pressure on motor finance companies looks set to see changes in the months ahead and lenders and dealers must adapt. The automotive sector must pay attention to developments like this which further indicate the importance of the market becoming more buoyant and sustainable in order for dealerships to thrive. While recent years have seen new entrants…

Body-worn cameras are to be compulsory for bailiffs under government plans to improve the treatment of people in debt.  The Ministry of Justice said that the move, which only affects England and Wales, should help protect those in debt from “intimidation and aggression” used by some bailiffs. However the Citizens Advice Bureau, according to the…

No one goes into business expecting to fail, although sometimes business owners lose sight of fundamentals such as ensuring the business is sufficiently profitable. It is very easy to chase turnover or a client which could be a game changer, only to run into working capital issues. ‘Turnover is vanity, profit is sanity’ may be a…

Christopher Woolard, Executive Director of Strategy and Competition at the FCA, gave an interesting speech at the AI ethics in the financial sector conference at The Alan Turing Institute yesterday. As Flexys conducts its own artificial intelligence research and development exclusively for the debt collection market, we were listening intently. From the regulator’s perspective, there are…

Many firms in the construction sector face a one-off cashflow hit when a change in the VAT rules comes into effect on 1st October.  Under the rule change, a “reverse charge” will apply to many VAT-registered businesses in the construction sector. This means that their fellow business customers will pay the VAT on their bills…

Whether you’re evaluating risk at one of the biggest commercial lenders in the world or as an independent factor, you’re likely taking on more risk at a faster pace. And that’s because both Asset-Based Lending (ABL) and factoring continue to grow at healthy rates in the US.  According to the recent Secured Finance Foundation Impact…

The Financial Conduct Authority (FCA) has come under the cosh of late and this showed no signs of abating when Chief Executive, Andrew Bailey and Chair, Charles Randall appeared in front of the Treasury Select Committee to present a biannual report on the work of the FCA. Chair, Nicky Morgan crushingly asked if “anyone at…

It was confirmed earlier this month that five UK bookmakers – Bet 365, Flutter, GVC, Sky Betting and Gaming and William Hill – would increase their contributions towards fighting gambling addiction. The voluntary levy will see the firms increase their voluntary contributions from 0.1% of revenue to 1% within five years. Some have been quick…

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