Credit, Collections & Insolvency News
Analytics and decision management provider FICO has announced that it has partnered with OpenWrks – provider of Open Banking based digital engagement applications. Under the partnership, FICO plans to combine OpenWrks financial budgeting and conversational AI technology with FICO’s market-leading integrated collections and omni-channel platform to assist creditors in making the most appropriate customer decisions…
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Specialist subprime lender, Provident Financial has announced its latest financial results. The company has tightened its lending standards in the wake of the pandemic crisis, leading to a fall in customer numbers. New customer business via the Vanquis Bank division in the four months through April has fallen by about 75%, while a credit line…
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Aberdein Considine has added further industry experience to its Lender Services Practice Group with the appointment of a new Operations Manager. Tahir Bashir has joined the firm from the Ascent Performance Group, bringing with him 20 years of frontline experience in property and volume debt recovery. Bashir has worked extensively with clients such as RBS,…
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Business and consumer insights specialist, Equifax has announced a partnership with customer onboarding and KYC RegTech provider, HooYu, to expand its range of identity and fraud tools. The partnership will support Equifax clients across regulated and non-regulated sectors that are striving to improve their digital customer onboarding experience, and bolster their anti-fraud processes, while meeting…
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Insolvency, credit and debt recovery sector software specialist Aryza has announced the launch of Debtsense Collections. Developed in conjunction with Experian, Debtsense Collections is a digital tool that can be deployed quickly and cost-effectively to help businesses deliver higher volume and better quality customer interactions. Debtsense Collections is the first digital platform that puts consumers…
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The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase industries, has announced that it has appointed Colin Matthews to a newly-created role of Process and Systems Coordinator within the Association’s Learning and Development (L&D) team. Matthews is tasked with improving the efficiency and effectiveness of the CSA’s current systems…
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Cifas and The Vulnerability Registration Service (VRS) have entered into a collaborative agreement that will offer protection to vulnerable individuals through the VRS national vulnerability database later this year. With effect from 1st August 2020, Cifas will no longer be providing the Protecting the Vulnerable scheme. The Protecting the Vulnerable scheme is a shared register…
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Information services firm, Experian, has announced 9% rise in revenues, while profits have dipped slightly. The firm was driven mainly by double-digit growth in North America and Latin America, while UK & Ireland growth stood at 2%. Turnover for the year to 31st March came in at £4.22 billion, with profits dropping by 2% to £942…
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Debt purchaser Cabot Credit Management latest business results have shown that the company expects a fall in collection rates as the business adapted to protect employees and serve our customers as COVID-19 crisis unfolded Delivered Adjusted EBITDA was £369 million over the last twelve months. Craig Buick, Chief Executive Officer, Cabot Credit Management, said “For…
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Debt purchaser, Arrow Global Group has announced a fall in profits in the first quarter of the year. For the three months ending 31st March, Pre-tax profit fell 43% o £9m on-year as income dropped 11% to £77.1m. Investment business collections fell to £85.1m in the first quarter from £105.5m on-year. The Group’s foremost priority…
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Just, the enforcement market integrator has appointed Adam Wonnacott, to head up its technology and innovation team. Wonnacott has extensive knowledge of collections and recoveries, having previously held senior director positions at both Burlington and Marston Holdings, where he spent time as Managing Director of their subsidiary MoretonSmith. Since 2019, Wonnacott has been working with…
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Hodge Bank has announced a number of changes to its board, including the appointment of new Chairman, Graeme Hughes, who will replace Adrian Piper who retires after nearly ten years as a board member. The bank has also announced Iain Laing will join in July this year as its new chair of risk and conduct,…
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Data and technology-driven debt solution provider TDX Group has launched the V+ range of services to support organisations in identifying, engaging and managing potentially vulnerable consumers. Labeled V+, the services use a range of data sources, including TDX Group’s purpose-built Financial Vulnerability Indicator score, to assess cases within a creditor’s customer base, highlighting those at risk…
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