Credit, Collections & Insolvency News
Data On Demand has announced the appointment of Mark Davison as its new Non-Executive Chair. Davison was a Board Level Director at Callcredit for over 20 years and was part of the Executive Team that oversaw three major transactions – for values of £100 million, £400 million and £1 billion. Davison exited his role as…
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The Vision Blue Group has announced that it has rebranded as The Aryza Group. With a head office in Dublin, Vision Blue will bring together its range of financial services products, under a new brand designed to reflect the breadth of the offering to financial service providers and their customers. Colin Brown, Chief Executive Officer…
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Ofgem has announced that Gnergy, a gas and electricity supplier with around 9,000 domestic customers and a small number of non-domestic customers is ceasing to trade. Under Ofgem’s safety net, the energy supply of Gnergy’s customers will continue and outstanding credit balances of domestic customers will be protected. Ofgem will choose a new supplier to…
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An in-depth investigation by the Competition and Markets Authority (CMA )has found that payments company Bottomline’s purchase of Experian Payments Gateway does not raise competition concerns. Bottomline and EPG provide payments software used by businesses to submit direct debits, make payroll payments and pay suppliers. This software allows customers of both companies to make payments…
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Lender, Together has announced the appointment of Clare Sadler as Field Underwriting Specialist. Sadler is underwriting professional with more than 20 years industry experience has joined specialist lender Together as it expands its broker relationship team. Sadler started her new role this month as the company boosts its capability to support brokers. In the last…
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Qualco has announced the appointment of Terry Franklin, as its new Global Business Development Director. Based in UK, Franklin will be responsible for all global business development activities providing strong commercial, sales and consultative leadership to Qualco’s regional Sales Ambassadors thus ensuring the delivery of near-term client needs as well as the longer-term business and…
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The Department for Education has confirmed that Peter Lauener has been appointed as Chair of the Student Loans Company (SLC), taking over the role from Professor Andrew Wathey, who has held the position on an interim basis since 1 February 2020. Professor Wathey replaced Christian Brodie, who served as Chair for six years from January…
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Doorstep lender, Morses Club has announced that Andrew Hayward has left his role as Chief Financial Officer (CFO) with immediate effect. Andy Thomson, a Non-Executive Director (NED) of Morses Club and Morses Club’s previous CFO, will take on the position of CFO on an interim basis and will step down from his current role on…
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European leader credit management specialist, Lowell has announced its annual results. The results show strong growth in three key metrics: Cash Income, Cash EBITDA and £120m ERC with collections continue to perform ahead of forecast. Colin Storrar, Group CEO, said “2019 was a year of delivery for Lowell. We have continued our growth by doing…
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Debt Purchaser Arrow Global Group has reported record investment volumes of £303.7 million in its full-year results, with investment volumes at a consistent 17% net internal rate of return. The company also saw that its profits before tax increase by 28.3 percent. Estimated remaining collections for the next 84-month period is at £1.8bn, which is…
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Three partnerships between community lenders and fintechs have secured a cash prize of £200,000 each for developing innovative solutions that make credit more accessible and affordable, particularly for the most vulnerable. The cash prize is part of a £2 million Affordable Credit Challenge, run by Nesta Challenges in partnership with HM Treasury. The Challenge enables…
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Non-standard financial services provider, Morses Club, says it expects its adjusted pre-tax profits to fall by 18% to 23%. The company says the performance of the Home Collect Credit (HCC) division during the period has been very strong in a sector that continues to face headwinds and is expected to maintain like-for-like profitability. Total credit…
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Finance lender, Mann Island Finance, has announced a key appointment with Andy Muir taking over as the business’s Head of Sales from Paul Power who will be retiring at the end of March. Muir has been promoted from his previous role as a regional manager. With a brief to drive Mann Island’s lending activity through…
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