Credit, Collections & Insolvency News
Secure Trust Bank Commercial Finance has bolstered its regional presence with the appointment of John Copping as Regional Sales Director for the North West. Copping joins from RBS, where he worked for 33 years. His most recent role was Regional Head for Williams & Glyn’s Structured Finance team in the North, in which he specialised…
Read moreTSB is publishing flagship research in Parliament today on the impact of better banking and business services on the productivity of British SMEs. At an event hosted by the All-Party Parliamentary Group on Fair Business Banking, TSB will launch its ‘Boosting Local Business’ report which reveals that giving small businesses access to the products, tools and advice they need…
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Small business lender Iwoca has announced that Seema Desai has been named Chief Operations Officer (COO). Desai joins a small but growing number of women at C-suite level in the fintech industry. Desai joined iwoca in January 2017 as Head of People, developing Iwoca’s talent and organisational capabilities. Prior to joining Iwoca, Desai led the…
Read moreNew 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…
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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%)…
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Business lender iwoca, has announced an Open Banking partnership which Lloyds Bank. The company becomes the first ever business lender to connect with any of the UK’s nine largest banks under the Open Banking initiative, launched in January 2018. By securely linking their Lloyds Bank data, business owners can now provide iwoca up to five…
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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…
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Peer-to-peer lender Assetz Capital has bolstered its team in the Midlands with the appointment of Luke Carter as a Senior Relationship Manager. Carter joins from RBS, where he spent 10 years within the Commercial Banking team, and most recently as a Senior Relationship Manager in the Midlands region. In this role, he managed a portfolio…
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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…
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Accountant in Bankruptcy (AiB) has released official statistics reporting corporate insolvencies Scotland for the second quarter (July to September 2018) of 2018-19. The number of corporate insolvencies in Scotland fell by 5% in Q2 2018-19 (July-September 2018) compared with Q1 2018-19 (April-June 2018), but rose by 4% compared with Q2 2017-18 (July-September 2017). Commenting on the…
Read moreUK 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…
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Buy-to-let and specialist lender, Fleet Mortgages, has announced the promotion of Graham Le Bas to the role of National Sales Manager. Le Bas has previously been BDM in the South West for Fleet for the past two years and will now be working with the lender’s team of BDMs who cover the breadth of England and…
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