Credit, Collections & Insolvency News
Lindorff has signed an agreement to acquire Italian Debt Collection Agency (DCA) Gextra. Gextra is a specialised player in small debt collection services. It is controlled by doBank through Italfondiario. Gextra is a management consulting and outsourcing services company serving the credit management services industry in Italy. Gextra manages credit recovery activities through a network…
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Peer-to-peer lending platform RateSetter has announced that Paul Manduca has been appointed as Non-Executive Chairman. Manduca will join the Board on 1st June ahead of becoming and will become Chair on 17th July, when current Chairman Alan Hughes’ three-year term expires. Manduca is Chairman of the global FTSE 100 insurer Prudential. His distinguished career in asset…
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Ofcom is to review the cost of calling some telephone services, to ensure people are protected from high prices and unfair practices. People have been spending less on mobile and landline calls in recent years, and consumers generally have a wide choice of call packages and phone services. However, Ofcom is concerned about the rising…
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Target Group, welcomed Secretary of State for Foreign & Commonwealth Affairs Boris Johnson to its headquarters in Newport on Friday (12th May). The Foreign Secretary visited the successful South Wales based business with the Conservative parliamentary candidate for Newport West, Angela Jones-Evans. Bill Alley, co-Group CEO at Target Group, said: “We were delighted to host…
Read moreZopa has been granted full authorisation by the Financial Conduct Authority (FCA) for peer-to-peer lending. Giles Andrews, co-founder and Chairman of Zopa said “Zopa, both individually and as a founder member of the Peer-to-Peer Finance Association (P2PFA), has campaigned for peer-to-peer lending to be a regulated activity for a number of years. We are delighted to…
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Arrow Global Group has announced its results for the three months ended 31 March 2017. Commenting on the results, Lee Rochford, Group chief executive officer of Arrow Global, said: “In Q1 Arrow Global delivered another impressive quarter of profitable growth. Revenues grew 45% and underlying profit after tax was up 37%. “It was a strong start to…
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Specialist debt collection agency (DCA) ARC Europe has achieved the Government-backed Cyber Essentials certification following a further upgrade of its internal IT infrastructure and the introduction of an enhanced firewall. The Cyber Essentials scheme accredits those businesses that display significant levels of cyber security and who have correctly implemented five key controls that prevent up to…
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RateSetter has announced a strategic partnership with personal loans provider George Banco and the acquisition of two specialist motor finance businesses as the platform widens its direct lending distribution network. Peter Behrens, RateSetter’s Chief Operating Officer said “Our focus on direct lending supports our goal of delivering excellent risk-adjusted returns for investors and attractive finance…
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Target Group, Twenty7Tec and Smart Money have launched a new broker portal aimed at reducing processing times. Smartmoneysourcing.co.uk aims to deliver end-to-end secured loan origination and packaging solution. Smart Money commissioned Target Group to deliver a new web portal solution for its introducing partners to provide access to a wide range of loan products. Target’s…
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Cifas, has released a new report detailing the fraud trends from over 325,000 fraud cases recorded in 2016. The data, from 387 organisations, including many major UK brands, is one of the most comprehensive pictures of fraud and fraudulent attempts made in the UK. Key findings from the Cifas’ annual report Fraudscape include: Over 325,000…
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Jonathan Westhoff, Chief Executive of the West Bromwich Building Society, has been elected Chairman of the BSA. He replaces Dick Jenkins, Chief Executive of the Bath Building Society, who has held the post since November 2015. At the same time, Stephen Mitcham, Chief Executive of Cambridge Building Society, has been elected as Deputy Chairman. Commenting…
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Nava has announced its appointment of Equifax to support the underwriting of unsecured personal loans for its UK borrowers. Nava has integrated Equifax solutions with its existing underwriting and risk management software, to support its credit analytics, credit scoring and applicant ratings. Nava is a next generation consumer lending platform due to launch later this…
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Morses Club PLC, the UK’s second largest home collected credit lender, has announced that it has received full FCA authorisation following a period of operating under interim permission. Paul Smith, Chief Executive Officer of Morses Club, commented “We are delighted to have received full FCA authorisation, marking a significant step in the development of the…
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