Credit, Collections & Insolvency News
Over a third (36%) of Europe’s CFOs feel more pessimistic about their companies’ financial prospects than they did three months ago, according to Deloitte European CFO Survey. This percentage has doubled since the first survey in spring 2015, when the figure stood at 18%. Fewer than one in five CFOs (18%) consider now to be…
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MarketInvoice has updated its name to MarketFinance. The fintech business lender established in 2011, has provided over £2.6 billion in lending to thousands of UK businesses. Using its proprietary technology and risk engine, coupled with a personalised service to enhance the lending experience, MarketFinance has enabled businesses to seamlessly access credit lines to suit their…
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SME financial provider, Bibby Financial Services (BFS), has announced the appointment of Karl Leitelmayer as its Head of Business Centre for Trade Finance. Leitelmayer is an invoice finance specialist with over 30 years’ experience in the financial services sector. He joins BFS after 19 years at Lloyds Banking Group, most recently as Head of Broker Channel Sales…
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New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 5% in September, compared with the same month in 2018. In Q3 2019 as a whole, new business was also 5% higher than in the same quarter in 2018. New finance for…
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Almost two-thirds (64%) of CFOs expect that within the next five years the financial world will no longer be able to operate without big data, however, 13% of CFOs think this is already the case. Currently, financial directors are mainly using big data to make well-informed decisions (54%), to make predictive analyses (41%) and to…
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LendInvest has hired a new Director of Mortgage Underwriting, and further expanded its regional sales team with a second business development manager for the North West. Gene Clohessy joins the team as Director of Mortgage Underwriting. Clohessy previously worked for a range of banks including Bank of Ireland, Allied Irish Banks, and most recently Shawbrook…
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Business finance company MarketInvoice, has launched a new specialist team to provide finance facilities for Britain’s larger businesses. Having provided over £2.6 billion in invoice finance and business loans since 2011 to UK SMEs, MarketInvoice is now turning its attention to the larger businesses (turnover up to £50m), estimated to be a £13b finance market,…
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Haydock Finance has announced the appointment of Andrew Roberts as Asset Manager. Roberts’ experience in the industry stretches 17 years. Having first worked at Alliance & Leicester’s Commercial Finance and then, up until September of this year, with Santander UK where he held the position of asset manager for 9 years, directly responsible for a…
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Bibby Financial Services (BFS) has appointed Jade McClellan as a new Relationship Manager for Trade Finance. McClellan joins BFS with 18 years’ experience in the financial services industry, having previously spent six years in the business working as a risk manager in the trade finance team. Prior to her new appointment, McClellan worked as collections…
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International accounting and advisory firm Mazars has published a study canvassing public opinion on the UK economy and the audit system The study indicates that the public strongly supports audit reform, with nearly two-thirds (62%) stating that they don’t have trust in the current audit system to provide independent and accurate assessments of a company’s…
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Business lenders Ultimate Finance and Bibby Financial Services (BFS) has announced its support for the Business Finance Council’s SME Finance Charter, in a bid to improve access to finance and help for businesses during Brexit and beyond. The Charter provides a framework for financiers to outline specific commitments to SMEs in relation to preparing for…
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New research from Begbies Traynor has revealed that numbers of businesses in significant1 financial distress has increased 40% in the three years since the EU referendum, affecting 489,000 UK businesses with the real estate and property, construction, retail and travel sectors the most severely affected. The latest data for Q3 2019 found that a large…
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Chief Finance Officers (CFOs) are intensifying their focus on cost control, with 58% saying it is a strong priority for the next 12 months, according to Deloitte’s latest CFO Survey. This is the highest level for ten years. Almost two-thirds of CFOs (65%) say their business faces high or very high levels of external financial…
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