Credit, Collections & Insolvency News
European debt purchaser leader in credit management services, Lowell, a has announced its full-year results (ending 31st December 2018). The results report says that this was another transformational year for Lowell, with focus on growth, diversification, innovation and our customers. The Group has seen strong growth across each of its key metrics: Cash EBITDA up…
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First Trust Bank announced that it will rebrand as AIB. The change will mean that all First Trust Bank operations, products and services will rebrand as AIB on a phased basis to create a shared and unified brand for our customers across all our business operations from 2020. Over the past number of years, AIB…
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Virgin Money recently worked with data science expert, Jaywing, to deploy Artificial Intelligence (AI) tests through the use of its AI product, Archetype in its credit card business. AI modelling enables Virgin Money to gain a deeper understanding of its customers, so that it can further improve the customer experience and enhance risk modelling. AI…
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Hundreds of thousands of people who were mis-sold high-cost short term loans will receive a fraction of the compensation they are entitled to after WageDay Advance loans collapsed into administration last month. Customers are now receiving emails to explain how much they owe or are owed. However, now the company is in administration, those who…
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Target Group, the business process outsourcing (BPO) and operational transformation provider, has announced it has closed its mean gender pay gap by 4.8 percentage points to 22.5%, considerably below the finance and insurance average of 33.4%. Meanwhile, its median gender pay gap has fallen by 5.5 percentage points to 15.1%, again significantly below the sector…
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Nationwide Building Society, has chosen credit risk and Artificial Intelligence (AI) experts Jaywing, to work with its analytical team on analysis of different risk modelling techniques, as it explores the application of machine learning for application scoring. Nationwide was seeking to boost the performance of the application risk models it uses to approve existing customers…
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Stephen Sklaroff, the Director General of the Finance & Leasing Association (FLA), has decided to leave the FLA later this year, after some twelve years in the post. Commenting on his departure, Sklaroff said “It has been a privilege and a pleasure to work with the FLA’s members over the past twelve years as they…
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Arvato Financial Solutions (AFS) has announced it has appointed a new Operations Director for the UK market. Alasdair Skeoch, who has over thirty years’ experience within the credit industry, has joined AFS to lead the contact centre and field services operations. Skeoch has a track record of success in senior Operational and Client Service roles…
Read morePayment solution provider Gala Technology has won the ‘Security Solution Of The Year’ award at the Call & Contact Centre awards. The award completes a hat-trick of recent recognition for the Gala Technology team, who have previously been presented with the ‘PCI: 2019 Award For Excellence’ in January and ‘Best Use Of Technology’ within a…
Read moreAutomotive Finance & Insurance (F&I) technology specialist DealTrak has announced that the company has plans for 12 months of fundraising for a range of local and national charities – nominated and voted for by employees. A long-term supporter of Cancer Research UK (CRUK), the firm raised £1,448.91 for the charity in 2018, with further donations…
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Webio has launched ‘WebioPay’ its latest platform addition. WebioPay’ offers a complete way for contact centres and large enterprises to collect customer payments quickly, conveniently and securely with over 120 global PSPs(Payment Service Providers) using Webio’s conversational payments skill. The new platform is designed to optimise customer payments by giving businesses the ability to bring…
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Creditfix has unveiled plans to open a new office in the heart of Toronto, Ontario. Initially, Pearse Flynn, chairman of Creditfix will take responsibility for the Canadian Operation until a local senior team is appointed. A newly-formed team of personal insolvency specialists will arrange Consumer Proposals for householders struggling with debts of up to $250,000…
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Third-party mortgage servicer, Computershare Loan Services, has donated £5,000 to Citizens Advice Gateshead to support the charity’s efforts to combat financial hardship. The donation will contribute to the Dig Deep 2018 fundraising appeal to help the charity to extend its debt service to North East families who have been destabilised financially by serious medical life…
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