Credit, Collections & Insolvency News
Home credit provider Morses Club has said in a trading update that despite the ongoing pandemic the company has had an encouraging start to the new financial year after a steady increase in customer demand across all of its products both the home collected credit (HCC) and digital divisions. Latest company figures the first quarter…
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Challenger credit reference agency Credit Kudos, has launched a new Open Banking decision engine which its says will enable credit providers to automate credit policies, grow their loan books, and implement real-time decisioning with no or minimal technical integration. Lenders Admiral Financial Services and 247 Money have already adopted the new technology. Credit Kudos’ Assembly…
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Fintech start-up Ophelos has raised £1.6 million from Connect Ventures and Fly Ventures to continue development on its platform and scale the engineering and customer operations teams. The startup says that it is building a customer-centric debt collection process powered by Artificial Intelligence (AI) that will reimagine the debt collection industry to improve financial health…
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Credit reference specialist, Equifax has announced that it has updated its flagship credit risk product, Risk Navigator 5, with the aim of creating a new standard in powering better decision-making to improve consumer credit outcomes. Developed using the company’s largest ever data set, Risk Navigator 5, has shown potential to deliver a 6% average improvement…
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Aspect Software and Noble Systems have merged to create a new company identity. The merger will create a new company brand, Alvaria, that will aim to deliver optimised customer experience and workforce engagement software and cloud services technology solutions. The newly combined company will be led by Patrick Dennis, Aspect President and CEO. Dennis said…
Read moreThe Vulnerability Registration Service (VRS) and Aryza have agreed on a new vulnerable customer identification partnership. The agreement means that Aryza is now offering all lenders using the Aryza Sentinel Loan Management system access to the newest VRS product, VRS Aware. VRS Aware provides ongoing visibility of vulnerability, rather than a perspective at one point…
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Conversational AI collections specialist, Webio has announced that it has closed a Pre-Series A funding round led by Finch Capital. The company, which includes Enterprise Ireland and EIT Digital amongst its backers, says the funding will go straight into deepening Webio’s capabilities in conversational AI, doubling the company’s R&D team, and expanding the sales and…
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Experian and Codeweavers have agreed on a new partnership which it says will enable car buyers to get a clearer view of their financing options without affecting their credit score. Dealers and lenders using the Codeweavers platform will now see what lending the customer would be preapproved for – or a percentage likelihood of them…
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Consumer credit technology and outsourced services provider, EQ Credit Services (EQCS) is announcing a new seven-year contract to provide a digital loan platform and collections services to 247 Money. The deal follows a successful three-year partnership where EQCS provided its API-led credit servicing platform and collections services to 247 Money. EQCS’s technology means 247 Money…
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End-of-life admin service Settld has closed its initial seed funding round with £500,000 of new investment. The investment comes as the death-sector disrupter aims to create waves in the bereavement and death-tech space – automating bereavement notifications and reducing end of life admin stress for grieving families and professionals who support them. Online startup Settld says that it removes…
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Together Financial Services has announced that it has appointed data-led integrated agency, Jaywing, to transform its onboarding processes and review all aspects of its acquisition journey following a competitive tender process. Together offers a portfolio of secured lending products, often working with ‘hard to mortgage’ properties or with individuals and companies who might struggle with…
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Law firm Shoosmiths and national collections, recoveries and enforcement business, Chartsbridge, have launched ‘Equivo’, a new dedicated recoveries business providing end-to-end collections, legal and enforcement services. The new company is a dedicated recoveries business majority owned by Shoosmiths and born out of the former Chartsbridge business. Equivo will provide clients with a complete ‘one stop…
Read moreLendingMetrics has announced that it is partnering with Experian to help facilitate the growth of its LMX data platform. LendingMetrics says that the partnership means that lenders can now access multi-bureau credit reference data, affordability, AML and bank account verification services via the company’s ‘white glove’ service. Additionally, by aggregating transaction volume across its broad…
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