Credit, Collections & Insolvency News
UK Finance has published its latest Household Finance Update for November 2018 which has revealed that overall lending to non-financial UK companies remained subdued, with a 1.7 per cent contraction over the last twelve months. However, some sectors continue to show growth, with manufacturers growing by seven per cent over the year. Deposits held by…
Read more
Analysis from Equiniti, the FTSE-listed share services and fintech business, of UK Finance statistics shows that continued Brexit uncertainty is having the biggest impact on the smallest businesses in relation to asset based lending and invoice finance borrowing. The figures show that total advances to businesses with a turnover of less than £1 million a…
Read more
The latest figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 9% in October, compared with the same month last year. The plant and machinery finance and business equipment finance sectors reported new business up by 16% and 29% respectively, compared with October…
Read more
Data from the winners and finalists of the second annual Credit & Collections Technology have been collated and are now available as part of a report reviewing the 2018 event. The Awards report highlights the unique and transparent ethos of the scheme by providing graphs, statistics and judges comments which highlight the results. The Awards event,…
Read moreFinancial services companies appear to have increased their appetite for risk compared to businesses in other sectors, a report has found. The Q3 2018 Global Supply Chain Risk Report, published by Cranfield School of Management and Dun & Bradstreet, investigates the level of perceived supply chain risk faced by European companies with international supplier relationships.…
Read more
Small and medium size enterprises (SMEs) with a turnover between £6.5 million and £10 million and a balance sheet up to £7.5 million will soon be able to have their banking and finance disputes reviewed and redressed through alternative dispute resolution arrangements, following the creation of a specialist ombudsman service with the expertise and powers…
Read more
UK Finance has released it’s business finance update for October 2018 which reveals that Lending to manufacturers grew by 6.9 percent over the last twelve months, in contrast to a 1.9 percent contraction in overall UK business borrowing. There was also annual growth in borrowing by the agriculture and accommodation sectors. The findings also revealed that…
Read more
New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) in September was at a similar level to the same month in 2017. In Q3 2018, new business grew by 6% compared with the same quarter in the previous year. New finance for IT…
Read more
Paragon has appointed a new Head of Credit Management for its asset finance business. Experienced senior credit professional Anup Sangha will oversee credit decisions at the leading specialist lender, which supports SME businesses and growth in the UK. Sangha is the former Head of Credit for Aldermore’s Asset Finance division has 23 years extensive experience…
Read moreAlmost half of those working in the financial services sector (47%) are convinced that robotisation will lead to far fewer jobs within the industry in the UK. In addition to the fact that robotisation will have a significant impact on employment, employees also expect that artificial intelligence (36%) and the arrival of big data (36%)…
Read more
A new report by research specialist Gartner says that Digitalisation will make most heritage financial firms irrelevant by 2030. These firms will struggle for relevance as global digital platforms, fintech companies and other nontraditional players gain greater market share, using technology to change the economics and business models of the industry. Speaking at Gartner Symposium/ITxpo 2018 on…
Read more
The Treasury Committee has published a Report on SME Finance with a recommendation to appoint a Financial Services Tribunal to help SMEs resolve disputes with lenders. The report says the Financial Services Tribunal is needed to handle complex SME disputes and expanding the Ombudsman’s remit to handle SME cases should not be rushed through. The…
Read more
UK Finance has published its Business finance update for September 2018 which reveals that Lending to manufacturers grew by 4.9 percent over the last twelve months. While there is annual growth in borrowing demand from manufacturers, agriculture and accommodation, those sectors are in marked contrast to a wider 2.0 percent contraction in UK business borrowing overall. Deposits…
Read more