Credit, Collections & Insolvency News
Research by Open Banking has revealed that at least 750,000 SMEs now integrate their bank accounts with third-party services to reduce the cost of transactions and help to manage cash flow. The research also revealed that the number of open banking payments has more than doubled last year to 68 million with small firms adopting…
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The Payment Systems Regulator (PSR) has published its final decision confirming the changes it is making to improve card services and choices for businesses. Every time somebody buys something using a credit or debit card, businesses like newsagents and supermarkets, use card-acquiring services to accept the payment. The prices businesses pay for these services can…
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Software solutions specialist Aryza has announced a partnership with Validis to develop an open finance solution that will help business lenders obtain better quality financial data from their customers. The partnership was driven by a growing need across the SME lending world for better visibility over SMEs’ cash flow and finances, through real-time data sets.…
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Dun & Bradstreet research has revealed that a fifth of businesses have either lost or failed to sign a new contract due to a lack of data or inaccurate information about customers or suppliers Research commissioned by the company has found that over half (53%) of business leaders admit that data will become more important…
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Despite the plethora of innovative new software on the market, nearly half (49%) of financial professionals are still using Excel spreadsheets to log information and updates on customer payments into their business according to research by Visma | Onguard. The figure represents a slight increase on 2021 levels (46%), highlighting that the industry’s reliance on…
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New research suggests that the biggest financial issue for small business clients is a cash flow squeeze (52%). The report by iwoca also suggests that firms are missing a key opportunity to adopt Open Banking which it says will help meet the needs of small businesses facing a cash flow squeeze. The report is based…
Read moreData-driven open banking provider, Yolt has agreed a partnership with business intelligence provider Creditsafe. The partnership will see Yolt’s recently launched Cashflow Analyser added to Creditsafe’s business information platform for business and credit professionals. Using Cashflow Analyser powered by open banking, Creditsafe will be able to instantly offer its clients access to a customer’s cash…
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Credit information provider, CRIF has announced that it has partnered with invoice financing provider Penny to utilise open banking to enable invoice payments. The new service utilises CRIF’s Credit Passport®, which uses open banking data to provide a real-time, secure way of speeding up the decisioning process for lenders and providing transparency and advice for…
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A new Fintech, Saltare has launched with the aim of improving cashflow, strengthen supply chain relationships and give more certainty over their payments. The company says it was born out of the knowledge that 82% of businesses fail not because of lack of profit, but through lack of cash. Yet, recent studies suggest UK SMEs…
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A new global survey has found that businesses using spreadsheets for cash management are twice as likely to have a high number of overdue invoices according to new research by Sidetrade. The research revealed that 42% of finance teams still heavily reliant on spreadsheets reported a high ratio of late payments overall (15%). Conversely, this…
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The average SME online retailer could save an estimated £19,000 by reducing transaction fees associated with popular payment providers such as AMEX, Mastercard and Visa could through the adoption of Open Banking technology, according to research from Yolt. At present, small online retailers in the UK process approximately 217 sales a day – increasing by…
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New research by Visma | Onguard has found that 61% of organisations now either use Robotic Process Automation (RPA)/robotisation or are developing ideas on how to incorporate the technology into their business. This represents an increase of 15% compared to 2020 figures (46%). This rise in RPA adoption coincides with the increased use of Intelligent…
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New research commissioned by Dun & Bradstreet has found that over half (52%) of European businesses surveyed don’t think they will survive without relevant, up-to-date and compliant business data. The findings, of the ‘The Future of Data’ report, revealed that two-thirds of business leaders agree that data is the most useful tool for their organisation…
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