Credit, Collections & Insolvency News
The Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) Boards have appointed new members to its three decision-making committees: the FCA’s Competition Decisions Committee (CDC) and the PSR’s Competition Decisions Committee and Enforcement Decisions Committee (EDC). These three committees are responsible for taking certain competition law and regulatory decisions when a settlement cannot be…
Read moreIntrum has announced it has reached an agreement with Spanish bank Banco Sabadell to acquire their wholly owned subsidiary Solvia Servicios Inmobiliaros (Solvia) for an enterprise value of approximately €300 million. The agreement reinforces Intrum’s position in the Spanish real estate market and strengthens the collaboration with Banco Sabadell, one of the largest banks in Spain.…
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Equifax has announced that it will launch anintegrated portfolio of data, analytics and visualisation tools. The product named ‘Equifax Ignite’ enables companies to understand and take advantage of data to innovate and inform their business decisions and strategy. John Power, Chief Data & Analytics Officer for Europe at Equifax, said “Equifax Ignite will redefine businesses’…
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1Experian has announced that it has agreed to acquire Compuscan (CSH Group Pty), one of the leading credit bureau and information services businesses in Africa. Established in South Africa in 1994, Compuscan started as a credit bureau, focused on the micro-lending industry. It enabled micro lenders to avoid financial loss by identifying clients’ repayment probability…
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Jaywing won the 2018 Credit & Collections Technology Award for Technology Team of the year. This review takes a look at Jaywing’s work and the criteria its team met to win the award. Category Title: Technology Team of the YearAward winner: JaywingTitle of winning projects/initiative: Product development team, ArchetypeKey team members: Martin Benson, Martin Smith,…
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P PayPlan has been recognised by the Advice Service Alliance for its excellent practice and determined approach to provide clients with the best possible advice and debt solution, during its recent Advice Quality Standard (AQSv2) assessment. The Advice Service Alliance commended the free debt advice provider for recognising the shift in client needs and offering a multiple…
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BNP Paribas Personal Finance UK has launched a new motor finance solution with Ivendi. BNP Paribas, has a wealth of motor finance experience globally, and currently works with 1800 dealers in over 11 countries, as well as partnering across a network of 16 manufacturers. Working with highly experienced specialist teams at iVendi, a new, digital solution…
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One Select, an energy supplier with about 36,000 domestic customers, has ceased to trade. Under Ofgem’s safety net, the energy supply of One Select’s customers will continue as normal. The outstanding credit balances of domestic customers will be protected. Ofgem will choose a new supplier to take on One Select’s customers as quickly as possible.…
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Qualco UK’s annual charity golf tournament has raised £1,200 for charities Princess Alice Hospice and the Campaign against Living Miserably (CALM). The tournament took place at the historic St. George’s Hill Golf Club on Friday 23 November in Surrey. The course is rated 32nd in the 2018 Golf Digest ‘World’s 100 Greatest Golf Courses’ ranking.…
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Hitachi Capital has presented The Royal Brompton and Harefield Hospital charity with a cheque for £33,000 following a grueling four-day cycle from the UK to France. After vigorous training in the months before the 14 man team were waved off by staff from Hitachi Capital’s offices in Staines-Upon-Thames on Thursday 20th September. Over the course of…
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The Financial Conduct Authority (FCA) has published a Decision Notice in respect of Mohammad Ataur Prodhan, the former Chief Executive Officer of Sonali Bank (UK) (SBUK), fining him £76,400. Prodhan has referred this Decision Notice to the Upper Tribunal (the Tribunal) where he and the FCA will each present their cases. The Tribunal will determine…
Read moreThe University of the West of England (UWE Bristol) Future Space innovation hub, and fintech company Flexys are using advice from Bristol University’s Personal Finance Research Centre (PFRC) and working with UWE Bristol’s Computer Science and Creative Technologies department to research the way customers in debt can manage their arrears. Guidance from the Financial Conduct Authority…
Read moreZopa has announced that it has been approved for a bank licence with restrictions. This is called the ‘mobilisation’ phase of the process where the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) put some restrictions in place. Zopa will be granted a full licence once it meets the conditions set by the regulators…
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