Credit, Collections & Insolvency News
More than half (55.8%) of failed payment transactions among UK SMEs are never recovered, according to new research by Access PaySuite. The survey of 250 UK SME finance and payments decision-makers found that 3.4% of transactions fail on average. Nearly 50% of SMEs experience checkout abandonment, with an average rate of 7.8%. Whilst almost one…
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New research from Paragon Bank has shown that SMEs are rapidly adopting Artificial Intelligence (AI), with half of businesses (50%) saying they are likely to replace some staff roles with AI or other technology‑based solutions. One in four (24%) SME leaders have no plans to reduce headcount through AI, while the remainder remain uncertain about…
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Deloitte’s latest survey of UK Chief Financial Officers (CFOs) shows that 59% of the UK’s largest businesses have become more optimistic over the past 12 months on the potential for AI to boost the performance of their own organisation – up from 39% when last measured in the third quarter of 2024. CFOs overwhelmingly (96%)…
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Nine in ten businesses (89 %) are looking to solve business problems with AI (Artificial Intelligence) over the next two years, with improving data analysis, forecasting or business intelligence, enhancing customer experience and reducing operational costs cited as the main opportunities according to new research by Barclays. Over the past year, businesses have already invested, on…
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The Trades Union Congress (TUC) has reported that over half of adults fear artificial intelligence (AI) may threaten their jobs. A recent survey revealed that 51% of working adults are anxious about AI’s impact, with concerns peaking among younger workers aged 25 to 34, where 62% expressed worry. The union body says AI technologies can…
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The vast majority of businesses using AI say the technology has helped them to boost their productivity and profitability according to new research from Lloyds’ Business Barometer. The data showed that of the 59% of UK companies currently using AI, more than three quarters say it has improved their productivity (82%) or profitability (76%). Productivity…
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New research from Uswitch has found that nearly a quarter of entrepreneurs (23%) are pushing back against the use of Artificial Intelligence (AI) in their small businesses. Among the 29% who see AI as a threat, over half (52%) say they fear it could replace their jobs. When asked what’s influencing their stance, 27% of…
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The winners of the 2025 Credit & Collection Industry Awards have been announced following a live in-person event yesterday (Thursday 22nd May) at the Milner Hotel in York There were eighteen winners (four of which were partnership wins) from the twenty awards categories, which were presented by awards compare’ Brennan Reece. The Credit & Collections…
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New research from the Institute of Directors reveals business leaders enthusiasm for productivity gains from AI has been tempered by board-level expertise gaps, reliability concerns and security risks. Nearly half (49%) of UK business leaders whose organisations use AI across any of their functions and processes, with 78% citing increased productivity and operational and administrative…
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Banks are accelerating their investment in trade finance technology to unlock growth, according to research by FIS. The research found that over the next 12 months, 55% of global banks surveyed plan to increase spending on their trade finance platforms. For all survey respondents, key priorities include improving operational efficiency (28%), enhancing customer experience (28%),…
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The Payment Systems Regulator (PSR) has found significant issues within the UK market for card scheme and processing services, identifying a substantial increase in fees and a lack of clear information. In its final report of its card scheme and processing fees market review, the PSR found that Mastercard and Visa have increased their core…
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New research from Microsoft has found that businesses and public sector organisations with clear AI strategies are significantly outperforming those without. The study, led by Dr Chris Brauer at Goldsmiths, University of London, reveals that the highest performing businesses and most productive public sector organisations have a clear AI strategy in place and are preparing…
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New research by by Sidetrade and PwC France and Maghreb hs found that 80% of companies are investing in Artifical Intelligence (AI) to improve cash flow despite budget cuts. The research revealed a significant shift in investment and renewed boldness within the finance function, driven by a sharpened emphasis in 2024 on cash flow generation…
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