Credit, Collections & Insolvency News
Enforcement market integrator Just has begun the application process to become a certified B Corporation. Certified B Corporations are a new kind of business that balance purpose and profit. They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment. It’s a community of leaders, driving…
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The Melton Building Society has agreed on a partnership with TriLine GRC to embed an automated solution to improve corporate governance efficiency as well as provide concise and real-time reporting. The Society has historically used manual processes and spreadsheets to capture, manage and report on compliance, risk management and regulatory change across the business. The…
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Marston Holdings has introduced a new notice processing and enforcement service that will help councils to effectively enforce contraventions committed by foreign registered vehicles (FRVs) on British roads. The company says that these vehicles are more likely to contravene traffic and parking regulations than drivers of UK registered vehicles as well as being less likely to…
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Specialist car, van, and motorbike finance company, Moneybarn, has announced that it has selected challenger credit reference agency, Credit Kudos, as its Open Banking partner. Moneybarn will also be using Credit Kudos’s newest product, Assembly, an Open Banking decision engine that enables lenders to automate credit policies and implement real-time decisioning without the need for…
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Here is an overview of The Money Charity’s latest statistics for August 2021 Personal debt in the UK People in the UK owed £1,742.7 billion at the end of June 2021. The average total debt per household, including mortgages, was £62,705 and per adult was £32,950, around 109.7% of average earnings. Net mortgage lending rose by…
Read moreTarget Group, the operational transformation, business processing and software provider has today announced the appointment of John Barker to the role of Chief Operating Officer (COO). He joins newly appointed Bernard Conlon, Chief Risk Officer (CRO) as Target Group strengthens its senior presence as part of its own business transformation. Barker will support Target Group…
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After ten weeks of voting and over 25,000 votes received, Smart Money People have announced the finalists for their Consumer Credit Awards 2021. The Consumer Credit Awards are now in their sixth year and are 100% voted for by customers, with the aim to find those financial companies that are most dedicated to putting their…
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Challenger credit card fintech, Keebo has announced it has closed £5 million in a seed equity funding round. Further to the investment, the fintech startup has been awarded three technology grants from the UK Government, totalling £425,000. AKeebo is also supported by, and launching with, Mastercard. Keebo is the only credit card and app company…
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Provident Financial has reported an adjusted ongoing pre-tax profit of £63.5 million for the six months ended 30th June 2021. The results included its Consumer Credit Division (CCD) which is being closed down. Losses from CCD, the Group generated a statutory loss before tax of £44.2 million for the period. Total revenue was £316.7m (2020…
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Equifax has announced that it is teaming up with credit builder app, Bits, to allow its customers to report their monthly rent payments on their credit files, improving their credit score and making it easier to buy their own homes in future. Equifax says that the collaboration commitment to ensuring the credit system is fair…
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MotoNovo Finance has announced the appointment of Karl Werner as its new Managing Director (MD). Werner replaces long-serving CEO Mark Standish who has decided to leave the business having overseen the integration of MotoNovo within parent Aldermore Group. Standish has led MotoNovo for over twenty-two years, taking the organisation from under 1% market share to…
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Barclays reported a large rise in first-half profit driven by a drop in credit impairment charges as the economy recovers. Pre-tax profit for the six months through June jumped to £4.98 billion, up from £1.27 billion year-on-year. Credit impairment releases fell to £742 million, down from £3.79 billion, more than offsetting a 3% drop in…
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Virgin Money has cut the amount of money put by for bad debts in the pandemic, releasing £19 million of cash set aside for loans that could turn sour in its third quarter. The lender added that the remaining £678 million of provisions could be cut further alongside full-year results if the rebound in the…
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