Credit, Collections & Insolvency News
For any FCA regulated firm, the risk and compliance function is an essential and integral part of the business – but it wasn’t always that way. Risk and compliance departments, once held in low esteem by other business units, have evolved into a crucial function for protecting profitability. This is still a controversial statement in…
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This time of year can be bleak. With turkey and twinkling lights a distant memory, it’s back to reality. Many people will also be facing debt, exacerbated by the cost of Christmas, higher heating bills, and other expenses that peak in winter. In 2018, Citizens Advice said people are struggling more with bills such as…
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Innovation is definitely a buzzword these days. Everyone seeks it, but what is it? Well, for one thing, it’s not a new concept. The endless stream of inventions over the centuries is what makes today’s innovations possible. Innovation is about improving things in ways that enable growth and create added value for customers, employees and…
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A wiser man than me once said that anyone attempting to make predictions will end up either wrong or lucky. In 2019, against a backdrop of uncertainty about the UK’s future relationship with its biggest trading partner that proverb holds true now, more than ever. This political uncertainty has led to reports of ebbing business…
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The advent of open banking and the continuing emergence of new challenger and mobile banks is not limited to traditional banking. Asset finance is ripe for market disruption as specialist lenders move to target discreet market segments. The key to this changing landscape is the flexibility and availability of operating software. At the heart of…
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Corporate structures have changed dramatically over the last 150 years – and so too have executive roles. Over the last few decades, we’ve seen various new roles and titles such as Chief Information Officer, Chief Content Officer and Chief Analytics Officer have more presence in the board room. Many of these new roles, and others…
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In the past two decades, the lending landscape has changed beyond recognition. With technological advancements influencing the way businesses operate and consumer expectations, the lending industry needs to increasingly adapt to changing demands. As we enter 2019, it is clear that political and economic uncertainty will continue to have an impact on consumer decisions. The…
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British households spent around £900 more on average than they received in income during 2017. As a result, household finances were pushed into deficit for the first time since the 1980s. Such figures pose a major challenge for debt collection agencies, many of whom are struggling to adapt their processes to help today’s borrowers resolve…
Read moreLast year, we built a feature to allow our customers to self-exclude from gambling. We listened to our community’s ideas and feedback for this, and consulted with a range of charities that support people with gambling addictions. While we spent some time planning and gathering feedback, the actual block was mostly put together in a…
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It’s that time of year again when we make plans for the upcoming 12 months while hanging on to our well-intentioned, but ever so difficult to keep, new year’s resolutions. Those ambitions to critically review what we have done in the past apply equally to the workplace and now is as good a time as…
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Despite consumer confidence rising from the lows reported during the 2007-8 financial crisis, the number of corporate insolvency cases is steadily rising with no signs of slowing down. The post-Christmas and New Year period is particularly difficult for businesses that often attribute a downturn in business as a seasonal trend. It is often observed that…
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There’s no denying Automated Intelligence within the context of Credit Management is an emotive subject, which provokes highly charged reactions depending on where within the Credit Management hierarchy you operate. Coming ready or not; AI is headed to a workspace near you. For CFOs and Senior Credit Management professionals, understanding how to assess, introduce and…
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In the past six months, there has been a slew of reports calling for a fundamental change to public sector – and particularly council – collections. From the Treasury Select Committee to Citizens Advice and the Money Advice Service, the message is that the public sector needs to alter its approach. The disparity between the…
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