Credit, Collections & Insolvency News
Moneybarn (owned by Provident Financial) has been informed that the Financial Conduct Authority (FCA) has commenced an investigation in relation to the processes applied to customer affordability assessments for vehicle finance and the treatment of customers in financial difficulties. It is thought that Moneybarn has around 50,000 customers. In a statement, Provident Financial Group said “it…
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Credit reference specialist, Aire has announced a first-of-its-kind partnership with online retailer N Brown. The new agreement will see Aire provide its augmented credit assessment technology to support N Brown, which operates online stores such as JD Williams, in analysing the full picture of online customers and the true benefits and risks that come with…
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Startline Motor Finance has secured a new £250 million credit facility from J.P. Morgan. The Glasgow-based company is known for its flexible approach to motor finance. CEO Paul Burgess said “We have been talking to several major financial institutions for some time to secure our next funding facility. Interest was widespread but we are very…
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Risk and data science specialist Jaywing, has launched Archetype, a new risk technology product that uses Artificial Intelligence (AI), machine learning and deep neural nets to help lenders generate transparent statistical models and predict almost any outcome on almost any data set. Archetype uses true AI to generate more powerful models, significantly reducing the time…
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Mental Health UK has announced the launch of a pioneering service designed to help the UK’s eight million people experiencing both poor mental health and money problems. Mental Health and Money Advice will be the first service to combine support for people with mental illness who are struggling with their money, as well as people whose…
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The Money Advice Service (MAS) and The Pensions Advisory Service (TPAS) have launched an integrated webchat service which will ensure customers are connected to the most appropriate webchat platform for information on the specific topic they need to discuss. Since January 2016, TPAS and MAS have been working together to ensure telephone helpline callers with…
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Walker Morris has confirmed the appointment Rob Aberdein as a Partner in the Banking Litigation Group business Aberdein will strengthen Walker Morris offering to financial services clients and help to build on the substantial experience for this practice group across the whole of the UK. Aberdein was recently ‘triple ranked’ in The Legal 500 for Debt Recovery and Commercial…
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Bank of Ireland UK has confirmed, the completion of its acquisition of Marshall Leasing Ltd which will become part of Northridge Finance. Recently named Fleet Leasing Company of the Year 2017 by the Association of Car Fleet Operators, Marshall Leasing Ltd provides a range of contract hire fleet services including fleet management, risk management, contract…
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Paragon Banking Group has reported underlying profits of £145 million as it unveiled its full-year results for the period ended 30 September 2017. Total lending grew by 29% to £1.9 billion and included a 21% increase in buy-to-let mortgage lending, with buy-to-let completions reaching £1.4 billion for the year. This strong growth highlights Paragon’s favourable…
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BDO, liquidators of Irish Charleville Credit Union have put its premises and loan book up for sale, with half a dozen credit unions already eager to acquire the loans. The loan book is said to have a gross value of €14million. However, it is understood that only around €8m worth of loans are performing. Charleville…
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Three directors of Speed-e-Loans.com Limited (SEL) have been disqualified from acting as directors. The Secretary of State for Business, Energy, & Industrial Strategy, accepted disqualification undertakings from Philip Miller for nine years, Robert Alan Davies for six years and Daniel Jonathan Miller for five years – following an investigation by the Insolvency Service. At administration,…
Read moreCabot Credit Management has completed the acquisition of Wescot Credit Services , a leading UK contingency debt collection and business process outsourcing (BPO) services business. Ken Stannard, Chief Executive Officer, Cabot said “We are delighted to welcome Wescot to our company and we are excited this acquisition has coincided with winning a major outsourcing contract…
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Technology specialist Webio has been signed up to take part in specialist google programme. Webio will take part in the Blackbox Connect 20 programme which runs from November 28th to December 8th, and brings founders from top accelerators around the world to take part in a two-week, fully immersive program where they live and work in…
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