Credit, Collections & Insolvency News
The second Commercial Credit & Collections conference saw the themes of Brexit and technology within credit management discussed at an event hosted by Aon and CVR Global at last week’s (23rd January 2020) event held at the Leadenhall Building in London.
Over 80 industry professionals from the commercial credit management sector attended the event. The event, chaired by Ian Leslie of Aon and Brendan Clarkson of CVR Global, opened with an economic overview including Brexit predictions from Mark Palmer of Hamilton FX.
The next session saw Ian Defty of CVR Global discuss the future of insolvency post-Brexit. Technology was the next key theme as Willand Brienen from Onguard provided an overview of how Artificial Intelligence (AI) and Machine Learning could shape the future of credit management.
Afternoon sessions saw Aon’s Susan Ross, MBE, examine the future of export whilst Lee D’arcy of Cifas and Nigel Davidson of Graydon highlighted the threat of fraud upon business.
The day closed with a panel session from three credit managers discussing whether technology in credit management is being optimised.
Commenting on the event Chair Brendan Clarkson – Director at CVR Global said “The event was, without a doubt, the best credit management event I’ve been apart of. I feel the topics discussed, genuinely add value to the credit community. I am looking forward to announcing further events soon.”
The date for the next Commercial Credit & Collections conference will be announced soon. If you are interested in attending or becoming a sponsor at the next event. Then call 01622 437014 or email events@credit-connect.co.uk for more information.
Event round-up: Slido questions answered:
The assets realised in an insolvency/bankruptcy how do you go about selling them? CVR Global has a varied list of suppliers/vendors – We can always add to this list. We will always seek valuations from independent companies. The trustee or liquidator must and has a duty to recover the best possible return.
What happens to the countless directors who do not surrender to the Official Receiver when a company is wound up? The company is liquidated however the investigation is suspended. There is no statutory barred period to this. There are investigations made into the director’s conduct, however, the OR and IP’s are looking for creditors for any information they have.
What is the incentive for organisations to share fraud intelligence vs writing off fraud losses as bad debt? For several reasons, firstly to enable sharing of that information so it doesn’t happen again, most importantly to disrupt the organisation or director by sharing that data through Cifas so that banks, mobile phone, asset finance, lenders credit card companies and insurance businesses refuse or stop service. Lastly, as it is the only way to deter others and reduce future losses.
Why do we think fraud levels are increasing? Easy access to services, the growth of the internet enabling access to data, a sense of anonymity in acting remotely through the internet a lack of deterrent in terms of police activity and prosecution as well as low sentences for those that are caught.
