Credit, Collections & Insolvency News
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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The Financial Conduct Authority (FCA) is looking to scrap a key open banking rule requiring users to reauthenticate access to customer accounts every 90 days. The move will mean that consumers will no longer need to reauthenticate permissions with Account Servicing Payment Service Providers every 90 days if accessing account information through a third-party provider.…
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New data from Visma | Onguard’s Fintech Barometer has found that 65% of organisations have either adopted blockchain technology or worked out the first ideas for future adoption in 2021, up from 51% in 2018. Of this 65%, almost a third are already utilising the technology – a significant 12% increase on last year’s levels.…
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The winners of the 2021 Credit & Collection Technology Awards have been announced following a live in-person event yesterday (Thursday 4th November) at the Midland Hotel in Manchester. The awards are the flagship event for innovational technological professionals working in credit and collections and the fifth annual event honoured the UK’s technological innovators, celebrating outstanding…
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