Credit, Collections & Insolvency News
Creditsafe has been granted full Financial Conduct Authority (FCA) authorisation. Paul Beard, Global Commercial Contracts Director at Creditsafe, said: “FCA authorisation demonstrates to current and future clients, particularly large enterprises that Creditsafe’s regulatory and operational infrastructure has met the highest standard demanded by the FCA. It is further evidence of our commitment to deliver excellence…
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The Money Charity has released statistics which show that it would now take 30 years to save for a deposit for a home. Releasing their latest Money Statistics the report finds that historically low saving rates and negligible returns on deposits make home ownership an ever more distant dream for many. If someone on the average…
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Plans by the Labour leader, Jeremy Corbyn, to tackle poor payment practices by big companies against their small suppliers have been welcomed by the Federation of Small Businesses (FSB). In a speech to FSB members today, Mr Corbyn’s proposals included excluding late-paying large firms from public contracts, and to force big businesses being paid by…
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At the end of the first week of the newly competitive water market, thousands of customers have engaged with the market and nearly 9,000 (8,876*) premises have switched water retailer. The figure was revealed by Market Operator Services Limited (MOSL), which operates the market and ensures it runs efficiently and effectively on behalf of the…
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CYBG, owner of Clydesdale and Yorkshire Banks, is making a minimum of £6 billion of lending available from 2017 to 2019 to help fuel the growth of small and medium sized businesses in the UK. The Bank’s long-term commitment to lending includes significant amounts of finance available across the UK economy through 2017, including: £1…
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Redwood Bank, a new UK SME Business bank, has secured a banking licence following approval from the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA). Redwood will now enter its mobilisation phase and expects to launch to customers later in 2017. Redwood Bank is wholly owned by Redwood Financial Partners Ltd (RFP), a company…
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MarketInvoice, the peer-to-peer online invoice finance marketplace, observed its best quarter and record month (March) of invoice finance funding since starting in 2011. Invoices worth £54.7m were funded from UK businesses last month, providing them with critical working capital.Q1 2017 has proved to be a record period for MarketInvoice as it scales towards its goal…
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Latest figures from Visa suggest that spending growth slowed in March. Rounding off weakest quarter for spending growth since Q4 2013 Kevin Jenkins, UK & Ireland Managing Director at Visa said “Our data suggests that consumer spending is beginning to slow from the strong levels seen in late 2016, as rising prices increasingly squeeze household purchasing power.…
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New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 8% in February, compared with the same month in 2016. The plant and machinery finance and business equipment finance sectors reported new business up in February by 11% and 24% respectively,…
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Bibby Financial Services (BFS), has appointed Ben Smith as UK Corporate Sales Director. After joining BFS from British Nuclear Fuels Plc in 2010, Smith has held a variety of roles including Corporate Manager, Head of West Midlands Business Centre and – most recently – Head of Corporate for the Central region. Officially starting his new…
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The Insolvency Practitioners Association (IPA) has appointed Ruth Duncan as its new President. Ruth takes office with immediate effect and serves as the Association’s figurehead and Chair of its board of directors for the next twelve months. Ruth, launched RNF Business Advisory (which has offices in Maidstone and London) in 2013, with more than 30…
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New figures released today by the Finance & Leasing Association (FLA) show that the point of sale (POS) consumer car finance market reported new business volumes down 2% in February, compared with the same month in 2016, while the value of new business was up by 2% over the same period. New business in the…
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New figures released today by the Finance & Leasing Association (FLA) show that consumer finance new business fell 3% in February, compared with the same month in 2016. Credit card and personal loan new business together fell by 4% compared with February 2016, while retail store and online credit new business was down by 5%.…
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