Credit, Collections & Insolvency News
Debt purchaser Lowell has announced its full-year results for 2020 results which indicate that collections have continued to demonstrate resilience with cumulative performance against its December 19 static pool forecast improving to 94% in December 2020, up from 93% in September 2020. The results demonstrated that its cash EBITDA stayed at just under £500 million,…
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The Money and Pensions Service (MaPs) has revealed plans to launch a single offering for consumers. The Service says people across the UK will be empowered to manage their financial wellbeing with greater confidence and clarity throughout their lifetimes, when a holistic new consumer brand launches this summer. The new service called MoneyHelper was developed…
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Provident Financial Group (PFG) has revealed that it is being investigated by the Financial Conduct Authority (FCA), with the regulator looking into issues including whether the firm carried out proper affordability checks before lending to borrowers. The FCA says that it will look at the ‘affordability and sustainability’ of loans made in the year to…
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Credit reference agency TransUnion has donated laptops to a number of schools local to its UK headquarters in Leeds, to aid families with remote learning. Manor Wood Primary, Primley Wood Primary, Harehill Primary, Guiseley Primary, Broadgate Primary and Beckfoot Upper Heaton were the six schools in the Leeds and Bradford area to receive a combined…
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Benefit calculation specialist entitledto has announced that is piloting Experian’s Open Banking technology to help prospective social housing tenants to access financial support. Claimants often need to produce three months of paper statements to allow social landlords to assess their income and expenditure. It has been particularly challenging and time-consuming during the Covid-19 pandemic when…
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Sercle, the Credit Union arm of Omnio Group has announced its partnership with Nivo to integrate its services with Omnio’s platform. Through the partnership, every Sercle Credit Union can offer members a market-leading mobile experience with full access to Nivo’s secure messaging and onboarding technology. Nivo’s mobile messaging has already achieved dramatic results with existing…
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Technology firm, Exizent has announced a pilot project with Scottish Building Society to help families navigate legal and financial processes when an account holder passes away The new system aims to simplify the entire journey, from notice that a customer has died, to identifying their accounts, releasing any funds held, and closing the case. The…
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A new digital consumer lender, Fintern, has launched with aim to radically transform the financial well-being of people which the company says goes beyond traditional credit scoring and puts affordability first. Fintern is the first digital consumer lender to use proprietary Artifical Intelligence (AI), Open Banking and transparent affordability testing, replacing outdated credit scores, to…
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Specialist home credit provider, Morses Club has announced that it anticipates Group pre-tax profits will be ahead of current market expectations. In its latest trading update, the company says it was able to perform resiliently and profitably during a challenging year. The company says it moved to a remote Home Collect Credit (HCC) lending model,…
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LendingMetrics has announced that it has been appointed by the Home Collected Credit division of Morses Club to deliver its credit decisioning solution. Morses Club effected the switch to LendingMetrics’s ADP after a very thorough tendering process supported by a number of face-to-face product and requirements workshops. Even after choosing to work with LendingMetrics, Morses…
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Consumer credit technology and outsourced services provider EQ Credit Services (EQCS), has announced the ‘Go Live’ of its mortgage servicing for Hodge Bank. Hodge is the first client to use the innovative API-led EQ Borrowbox platform from EQCS, explicitly created for the mortgage market and launched to new Hodge customers in November 2020. Mark Evans,…
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Daniel Glenn has been appointed as the new VP of technical Operations at motor retail technology specialist iVendi. Glenn joins from MAG-O, the digital division of Manchester Airport Group, where he was head of technology. Other senior positions include architect roles at The Radical Company and American Management Systems, as well as being IT director…
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IE Hub has announced that Dylan Jones will be joining the business as its new Chief Executive Officer (CEO). Jones has previously worked in senior business development and leadership roles at TransUnion, FICO and Callcredit. At TransUnion he was responsible for software sales and was also leading sales to the strategic banking sector. While at…
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