Credit, Collections & Insolvency News
Eleven new brokers will start training with Just Mortgages’ broker academy in the New Year after coming through a rigorous selection procedure. The new members will join Just Mortgages Employed division, with a further selection process for the self-employed division to open in January. The new recruits will undergo an intensive training programme over five…
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Secure Trust Bank has become the first UK lender to complete live deployment of credit application models built using Archetype, the proprietary ‘explainable’ AI-driven software of credit scoring from Jaywing. The Archetype software generated a significant uplift in predictive power compared to a traditional linear model and is projected to provide substantial reductions in bad…
Read moreFintech firm PayBreak has announced that it is set to use an automated decisioning platform from LendingMetrics as part of its growth plans. The company, which specialises in digital point-of-sale finance through online retailers, will deploy LendingMetrics’ award-winning ADP to build rules, scorecards and matrices using a variety of data sources so that they can make…
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Coventry Building Society has named Steve Hughes as its new Chief Executive. Hughes, currently boss of Principality Building Society, is replacing Mark Parsons, who announced his retirement in October. Hughes is a qualified management accountant with over 25 years’ finance experience across a range of industries including manufacturing, retail and insurance, including finance director of…
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The debt advice apprenticeship, the first-of-its-kind in the UK, has been approved by the Institute of Apprenticeships. The first cohort of advisors will start to study under the new apprenticeship, which will grant them a level 3 qualification, in April 2020. The apprenticeship has been led by a ‘trailblazer group’ from across the debt advice…
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The Financial Conduct Authority (FCA) has confirmed that Active Securities trading as 247 Moneybox, have been placed into administration. Active Securities a high-cost short term lender (payday lender). In a statement that appears on the website, the company said that all existing loan agreements remain in place and will not be affected by the proposed…
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European credit management service specialist Lowell has announced continued performance growth in its results for the period 1 July to 30 September 2019. The results show double-digit growth in cash income, cash EBITDA. Whilst collections continue to perform ahead of forecast. Commenting on the results Colin Storrar, Group CEO, said ”We continue to grow our…
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Anchor Computer Systems has acquired the entire share capital of Databax from the Archibald Bathgate Group (ABG). The deal enables Anchor to build on the services offered by its Managed Services business unit and adds 5 staff, 30 customers and a new office location in Manchester. Anchor can now offer new complementary services such as…
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The Financial Conduct Authority (FCA) has told guarantor lender, Amigo to explain more carefully the risks that people are taking on when they agree to guarantee a loan for a family member or friend. The FCA was concerned that guarantors were not always made fully aware of their obligations, nor of the likelihood that they…
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Comparison website, GoCompare has joined Cifas, as an official member. The membership builds on GoCompare’s existing efforts to tackle fraud, having joined as members of the Insurance Fraud Bureau (IFB) in May. The agreement will mean that GoCompare can check suspicious activity against data at point of quote and quickly receive an indication of whether…
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AutoProtect Group has announced the addition of automotive fintech firm DealTrak to its existing portfolio of motor assets. In addition, the Group has announced the appointment of a new Chief Executive Officer (CEO). Owned by Correlation Investments (CIL), AutoProtect Group is a leading provider of insurance and warranty products worldwide, and the re-organisation of CIL’s…
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Encore Capital Group, the owner of Cabot Credit Management has announced that Ken Stannard will be stepping down from his role as Executive Director and Chief Executive Officer of its European subsidiary. Cabot has appointed Craig Buick as his successor, effective at the end of 2019 (subject to certain regulatory approvals). Stannard joined Marlin Financial…
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Craig Jenkins has been appointed Business Analyst at LendingMetrics, the auto-decisioning technology provider. Jenkins, who joins from business insight company GBW, will work with clients to ensure they maximise the benefits of LM’s award-winning automated underwriting platform ADP. Paul Brown, Head of Operations at LendingMetrics, said “Having Craig on board really adds another level to…
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