Credit, Collections & Insolvency News
Insolvency, credit and debt recovery software solutions provider, Aryza has announced the launch of a new SME Open Finance product called Vantage. Combing various data sets, Vantage is the first B2B2C platform that delivers actionable insights within a customer permissioned environment that allows all parties to benefit from its shared components. It offers a best-of-breed…
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New research by European open banking platform Tink has revealed that in spite of growing positivity, the complete implementation of open banking will take financial institutions many years to realise. The survey of 308 executives across 12 countries found that four in ten (40%) believe it will take their institution between 5-10 years to realise…
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New research from Hitachi Capital Business Finance has revealed that more than three-quarters of small businesses across the UK (76%) have used technology in the last year to improve their business operations and become more efficient. This rises to 84% of small businesses that have expected modest growth – and 91% for those enterprises that…
Read moreExperian has partnered with Open Banking Reporting (OBR), a data-driven risk management fintech, to enable UK lenders to provide crucial business support as they look to bounce back from the impact of COVID-19. OBR’s solution OpenRep uses advanced analytics and robotic automation, connecting the SME’s accounting software and banking transactions with commercial credit and macro-economic…
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New research by ECOMMPAY has found that only 14% of consumers ‘completely understand’ Open Banking, with even fewer businesses grasping how it could help them grow their business. Introduced in 2018, Open Banking makes it easier for consumers to view their finances, take out loans or pay for things online, while businesses also benefit from…
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Forty-two percent of financial professionals believe having analytical skills will be a key requirement to fulfil their roles in the future, according to findings from the latest FinTech Barometer survey of finance professionals, carried out by Visma | Onguard. The research showed that programming skills (37%) and leadership qualities (34%) were also highlighted, reflecting the…
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Small business lender, iwoca has launched a cash advance product on Funding Xchange for small business online sellers. iwoca will be the first lender in the use Open Banking to offer fully automated revenue-based repayments to e-commerce businesses with a business bank account on the marketplace. Small business owners operating on platforms such as eBay…
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A new start-up fintech launched by a former credit industry professional aims to get businesses paid within seven days, in an attempt to address late payments. Debt Register has developed a purpose-built digital platform to resolve debts anything up to 10 times faster than traditional legal action, and for a fraction of the cost. Two…
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Lenders could see the time they spend processing the average loan reduce by more than 85% with the adoption of Open Banking technology, according to research from Yolt Technology Services. The company says at present, lenders process an average of 6,258 loans a year, with each single loan taking 3.5 hours for the business to…
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