Credit, Collections & Insolvency News
Cabot Credit Management (CCM) has announced its financial results for the three months ending 31 March 2017. As part of the results, Cabot announced that it has acquired Orbit Debt Collection, a UK based debt contingency business who specialises in the Utilities sector. In addition, Cabot has also obtained regulatory approval for the Irish business, Cabot Financial Ireland,…
Read moreVolumes of data handled by telcos are growing fast, and the pressure is on to minimise breaches. With the implementation of new general data protection regulation (GDPR) just one year away Steve Martin, Data Protection Officer at Equifax, said “Mobile data traffic is set to increase seven-fold between 2016 and 2021,[1] and telcos need to work…
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A new credit union, supported by the Retail Trust, has been launched. RetailCURe enables retailers to ensure that their employees can access responsible and affordable credit and savings products. RetailCURe offers rates on savings accounts; one per cent on instant access, two per cent on 6-month accounts and three per cent on one-year deposits. Savers…
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Debt Purchaser Lowell has announced its company results for the period 1 January to 31 March 2017. These results show the benefits of the Group’s ongoing portfolio expansion and diversification, as well as its continued consumer focus. Financial Highlights: 37% y-o-y increase in Cash Income to £148m …
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The Credit Services Association (CSA) has confirmed the appointment of its new Board and their respective Portfolios. Adam Wonnacott has been appointed to the new Portfolio of Sales/Services to Members, with a particular focus on developing non-membership revenue streams. Stuart Sykes takes responsibility for another new Portfolio, Technology, while Leigh Berkley, the past-President, takes on…
Read morePeer-to-peer lending platform RateSetter has appointed Joanna Wright as Chief Risk Officer. She will start in the role on 11th September. Wright joins RateSetter from GE Capital where she was Chief Risk Officer for GE Capital Bank in the UK, leading a team of over 200 risk professionals with responsibility for prudential and enterprise risks…
Read moreMortgageGym, the world’s only regulated mortgage robo-adviser, has announced the successful completion of a seed funding round of £2m ahead of its official aunch this summer. The FCA-authorised service, which is set to change the nature of mortgage advice in the UK, will allow homebuyers to complete their mortgage application online in 15 minutes through…
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Bank of Ireland Group has announced the appointment of Francesca McDonagh as Group Chief Executive Officer (CEO). She will succeed Richie Boucher who steps down later this year. Ms McDonagh will also take up the position of Executive Director on the Board of the Group on 2 October 2017. McDonagh joins Bank of Ireland from…
Read moreNon-Standard Finance has announced that Loans at Home, the group’s home-collected credit business, had received its full FCA authorisation. Loans at Home was established in 1938 and occupied the number three position in UK home credit, according to Non-Standard Finance. A Non-Standard Finance statement said “Since acquisition, Loans at Home’s management team has completely revitalised all…
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Paul Smee Director General, at the Council of Mortgage Lenders (CML) will leave his post after the UK Finance merger takes place. Smee said: “I will be moving on at an appropriate moment after the formation of UK Finance. I want the new body to land well.” UK Finance is expected to launch in July.Before joining the…
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Debt Advice Provider Stepchange has launched an election briefing calling on parties to help struggling households this Election. Here is an overview of Stepchange’s statement: 8.6 million households are using credit for everyday living expenses, including 1.1 million having to turn to high cost credit. These are households who might be managing for now but are increasingly…
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Nordic Capital Fund VIII, currently the indirect majority shareholder in Lindorff, notified the European Commission of the intended combination of Intrum Justitia and Lindorff. Based on its initial investigation, the European Commission has informed the parties of potential competition concerns in five Nordic/Baltic markets, relating to both debt collection and debt purchasing in each market.…
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The Credit Services Association (CSA) has appointed Ruth Greaves as its new Head of Sales and Business Development. Greaves primary role will be to further drive membership while also working with members and the wider industry on the Association’s learning and development initiatives. Ruth will promote the extensive portfolio offered by the CSA including the…
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