Credit, Collections & Insolvency News
The Paragon Group of Companie has announced a strategic reorganisation of the Group to accelerate its transformation into a diversified specialist banking institution. This reorganisation will increase operational and financial efficiency, enhancing engagement and delivery to customers and business partners and will increase the Group’s capacity to meet its ambitious growth plans. As part of…
Read moreMarshall Motor has sold its leasing division to Bank of Ireland UK, who will incorporate it into its car and asset finance arm, Northridge Finance. The acquisition of Marshall Leasing is conditional upon Northridge Finance receiving regulatory approval. Established in 1979 and based in Cambridgeshire, Marshall Leasing provides a range of contract hire fleet services…
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Staffordshire Credit Union has gone into administration. The Union has more than a thousand members across the country declared it was now in default and cannot repay deposits to its members. A statement on the company website said: “Unfortunately the Staffordshire Credit Union went into administration on September 18 and has now permanently closed. “The…
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A new agreement on how deposit-takers communicate about FSCS protection has launched today. This will enhance consumer awareness of the Financial Services Compensation Scheme’s (FSCS) guarantee for deposits in banks and building societies and reassure them that their money is protected under the scheme no matter how they choose to bank. This protects deposits up…
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The Money Charity has appointed Erik Porter as Head of Adult & Industry Programmes. In this role, Porter will have responsibility for adult financial capability programmes and industry consultancy services. Porter has 20 years experience in retail banking within Collections & Recoveries, Credit Operations, and Risk & Control including time spent at Citi and Barlcays/Barclaycard.…
Read moreOfcom has announced new reforms to protect consumers against bad practices at broadband and mobile providers. The regulator says the reform will focus on communication which includes poor billing service and debt collection exploiting vulnerable customers. The improvements to the rules will also include nuisance calls and complaints. The reforms include: ban providers from charging for caller display facilities,…
Read moreComputershare has launched a £20,000 charity fund to help prevent financial hardship and support those experiencing money problems. From December Computershare’s Loan Services division will donate up to £5,000 to good causes every quarter, and is currently seeking submissions from charities wanting funding for initiatives focused on financial difficulty. Andrew Jones, Chief Executive Officer at…
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The results of a year-long machine learning trial conducted by Callcredit Information Group point to potentially significant positive benefits in predictive accuracy across a range of established data models. The study looked at a number of different scenarios, ranging from identifying potentially fraudulent applications through to the accuracy of underwriting decisions in predicting a customer’s…
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The UK’s high street banks have been ranked among the poorest performers for customer satisfaction and complaints handling, according to new analysis by Which?. Lloyds was the worst performing big bank with an overall score of 58% – is in joint bottom place with Danske Bank. The results make disappointing reading for many of the…
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Callcredit Group and Totallymoney have launched a new Live Credit Score service. The service provides customers with information about changes in their credit status each time they log in. Credit file data is provided by Callcredit and customers now have access to six years’ of credit history information and receive real-time notifications to help them…
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Business process outsourcing (BPO) Target Group, has announced several new senior appointments to its Board of Directors and within its leadership team. Andrew Doman and Vivek Agarwal have joined as Non-Executive Directors. Andrew is currently Chairman at Castle Trust and a Non-Executive Director at One Savings Bank. Dorman will help advise on Target’s business strategy…
Read moreFollowing on from Equifax’s announcement last week that the US arm of the company announced a cybersecurity incident. Equifax has now identified unauthorised access to limited personal information for certain UK consumers. Equifax UK has confirmed that UK systems are not affected. Equifax UK and TDX Group systems and platforms are entirely separated from those impacted…
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Qualco UK has been awarded ISO 14001 certification by The British Assessment Bureau. The internationally recognised standard is awarded to organisations that have an effective Environmental Management System (EMS) in place, demonstrating a business-wide commitment to reducing the environmental impact of its activities, products and services through effective recycling, safe waste disposal, pollution prevention and…
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