At Dukes we’ve been quick to adopt online payments and new tech like Google Wallet to make sure anyone who is willing to pay their debts is able to do so. Why? Because ‘new’ payment methods are no longer just a tool for early adopters – they’re becoming an essential. Last week I read that the 2017…

Any type of data breach, whether due to an external hacking incident or an internal staff error, is a significant issue that needs immediate attention.  A key aspect of the legal requirements surrounding a data breach is to demonstrate that your business or organisation takes the issue very seriously and is proactively seeking to not…

Peer-to-peer lending is rapidly penetrating the SME market, and its drivers are discernible as a cluster of related and traceable factors that are making the new lending channel particularly attractive right now. My recent peer-to-peer SME lending study focused on elements of the UK SME economy that peer-to-peer lenders are reaching, the demographics of those…

The FCA’s thematic review on early arrears management in unsecured lending has painted a varied picture across the industry in relation to the treatment of individuals in arrears. Indeed, various organisations are now calling for a “breathing space” which would see customers given a grace period from which to start to put their finances back…

Artificial Intelligence (AI) is transforming industries across the board, at a truly rapid rate. AI is, without a doubt, one of the biggest emerging trends set to permanently change the way we do business over the coming year. Organisations are actively searching for AI solutions that offer unique opportunities to drastically improve the customer services…

While late or non-payment is well known to be adversely impacting businesses in many ways at present, one particularly disturbing trend lies in the proportion of companies having to write off turnover as uncollectable. Much of the focus and statistics surrounding late payment within the media and government assumes that the customer does eventually pay.…

We all know that Credit Control is a communications business and anyone who as been on one of our courses or completed our Education program knows the importance I put on carefully selecting the words we use and the questions we ask in order to get the results that we want. Words paint pictures in the minds of the…

The FCA has an expectation that the CEO and Senior Directors of consumer credit firms will have a watchful eye on the horizon to avoid unnecessary risks which could jeopardise their business and future trading, and in turn, jeopardise their consumers by producing a poor outcome for them. Needless to say, all consumer credit businesses…

The PRA has undertaken a review of the consumer credit industry and produced a statement outlining their observations together with expectations for those firms with material exposures to consumer credit. The announcement comes in the wake of the news that consumer credit is growing at more than 10% a year, yet the household savings rate has hit…

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