Credit, Collections & Insolvency News
Consumer credit firm Omni Capital Retail Finance has agreed a partnership to use an automated decisioning platform (ADP) from LendingMetrics. The finance provider, which is owned by Castle Trust Capital, has chosen Lending Metrics’ ADP platform to support its OmniPort credit approval system, which allows customers to purchase immediately at point of sale using a paperless…
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Credit reference agency and information solutions provider TransUnion (formerly Callcredit), has announced today the appointment of Satrajit “Satty” Saha as its new Chief Executive Officer (CEO). Outgoing CEO Mike Gordon will remain with the business as an adviser until the end of March 2019 to ensure a smooth transition of responsibilities. Prior to joining TransUnion’s…
Read moreConsumers are starting 2019 with outstanding borrowing from 2017, with 3.1 million people still paying for Christmas 2017 according to a new study by Sainsbury’s Bank Credit Cards. The study found more than a quarter (27%) of people have debt remaining from two years ago. This New Year, UK adults still owe money from 2017…
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New survey findings commissioned from YouGov by StepChange Debt Charity reveal that more than a quarter of us (27%) started the New Year feeling uneasy about our finances. Among people who feel uneasy, two thirds (65%) have felt this way for more than a year. A fifth (22%) have felt uneasy for more than five…
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New research by Leeds Building Society found nearly a quarter of people in the UK who celebrate the festive season (24%) don’t save ahead for it at all. Conversely, 15% of those surveyed start saving in January although 39% tend to leave it much later and start putting money away from September onwards. As part…
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Consumers are bracing themselves for a major financial crisis and housing crash this year according to a new poll from Spearvest, a wealth management firm. The study, conducted by independent survey company Censuswide asked 1,000 members of the UK public about their views on the economic outlook for 2019. A total of 44 per cent…
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New figures released today by the Finance & Leasing Association (FLA) show second charge mortgages increased by 21% in November. Commenting on the November 2018 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said: “The market has reported a…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 2% in November, compared with the same month in 2017. Credit card and personal loan new business together grew by 1% compared with November 2017, while retail store and online credit new business increased by 2%. Second…
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The Financial Conduct Authority (FCA) has revealed plans to free ‘mortgage prisoners.’ Mortgage prisoners are defined by around 140,000 homeowners are trapped on loans with high interest rates. The plans were revealed by the FCA’s Chief Executive Andrew Bailey’s letter to the Treasury Committee on improving switching options for mortgage customers who are currently unable to do so,…
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TSB has announced a new £200,000 partnership with the Metropolitan Police (Met) to step up the fight against fraud and hunt down the criminals that sit behind it. Fraud is now one of the most common crimes in the UK and the financial impact to consumers is huge with over £2 million lost every day^.…
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A new industry careers site for the credit industry and collections industry has been launched by Credit Connect Media. The website is a careers platform which aims to connect the UK’s top credit and collections industry talent with the best career options. Credit-connection.co.uk is an industry careers website sharing the latest job vacancies and a training course…
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Atom bank has joined Pay.UK-owned Bacs Payment Schemes (Bacs), which processes nearly six-and-a-half billion transactions a year worth £4.9 trillion. App-based Atom is the fourth payment service provider (PSP) in under 12 months to sign up to Bacs, reinforcing the continued relevance of established payment options Direct Debit and Bacs Direct Credit. Paul Horlock, chief…
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The Money Advice Trust has welcomed Lloyds, Santander and RBS’ plans to introduce controls for their customers over where they can spend their money, including allowing the blocking of gambling payments. The announcement follows on from the launch of similar controls by Barclays last month and work from Monzo and Starling in this same area…
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