Credit, Collections & Insolvency News
A new report by the London Business School and Evolution and the Institute of Directors has indicated that the adoption of generative artificial intelligence (AI) could widen corporate inequalities, with sectors prone to market consolidation seeing the most significant shifts. The report also proposed a series of recommendations that businesses and policymakers can implement in…
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New research by Sage has found that that eight in ten CFOs are embracing Artificial Intelligence (AI) and automated processes to gain time to focus on more valuable tasks. This additional time enables them to develop the critical skills necessary for success in more senior executive leadership, such as being appointed CEO, however only 49%…
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Small firms need protection from deepfakes and improvements to the education system to allow Artificial Intelligence (AI) to live up to its true potential, a new report by the Federation of Small Businesses (FSB) shows. Redefining Intelligence: The Growth of AI Among Small Firms, published today, emphasises that while the technology can work in tandem…
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The Payment Systems Regulator (PSR) has announced that it is proposing to introduce a price cap to protect UK businesses from overpaying on these interchange fees. Subject to the PSR’s final report and further consultation on remedies, this could happen in two stages: An initial time-limited cap of 0.2% for UK-European Economic Area (EEA) consumer debit…
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UK business leaders understand the value of implementing new technology, but they don’t know how to measure it, according to new research from Deloitte. In a new report, Measuring Value from Digital Transformation, 1,600 global business and technology leaders across six different industries were surveyed about their technology investment strategies. It found that three-quarters of UK…
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A new study has found that third (33%) of leaders in finance sector organisations find it difficult to get the most out of the data they hold, despite it being essential to planning and risk assessment according to Dun & Bradstreet. The report which surveyed 437 leaders from organisations in the finance sector across 18…
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Half of UK C-suites (50%) say that the threat of economic disruption has meant innovation has ceased in their business, according to new research from independent consultancy Magnetic. Just 22% disagree, with 28% undecided. This corroborates the 56% who say they’re prioritising the survival of their business above all else; an especially concerning figure when two-thirds…
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New data from small business lender iwoca has revealed that while more than half of SME owners (55%) feel they have a good understanding of AI, the majority are nervous about how it will impact their business. The new research also finds that three in ten (27%) SMEs are now using products like ChatGPT across…
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Research by the British Chambers of Commerce (BCC) has found that almost half of all firms (48%) have no plans to use Artificial intelligence (AI) technology. The research found that customer-facing businesses (B2C) are even less likely to use AI, with 58% stating they have no plans to use it, with pne in four respondents…
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Two in three small business owners (67%) say technology is having a positive impact on their business and – 18-months on from Covid restrictions falling away – almost one in four small business owners (23%) say they are still using technology to help staff members to work from home according to research by Novuna Business…
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Credit Connect is pleased to reveal the companies, partnerships and individuals that have been shortlisted in this year’s seventh annual Credit & Collections Technology Awards. The Credit& Collections Technology Awards is the UK’s celebration of tech innovators in credit and collections. The technology-focused award scheme seeks to champion innovation and best customer outcome solutions. The shortlist…
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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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