Credit, Collections & Insolvency News
The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have published a joint discussion paper on an approach to improve the operational resilience of firms and financial market infrastructures. The paper follows the payments chaos which followed a hardware failure at Visa that hit millions of transactions across Europe in June,…
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Business process outsourcing specialist Target Group and digital engagement specialist Telrock have announced a collections solutions partnership agreement. As part of its broader business process outsourcing and transformation services, Target Group provides cost-effective and compliant outsourced collections services to a number of UK banks, utility companies and other credit providers. With growing demand for solutions…
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Law firm Walker Morris is providing support to its financial services clients in Scotland by taking office space in Lochrin Square, in Edinburgh’s financial district, as part of its strategy to provide a multi-jurisdictional service offering to lender clients. Banking Litigation partner, Rob Aberdein, will split his time between Edinburgh and Leeds, whilst still being…
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Financial services peer to peer lender Zopa, has announced a 2017 profit after tax of £1.5million. In its latest company report, the company says It was a year of strong and sustainable growth for Zopa, with 2017’s revenue of £46.5m up 40% on 2016 (£33.2m revenue, loss of £5.8m). The rise in revenue sits alongside an increase…
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Guarantor loans specialists Amigo is set to be valued at over £1.3 billion when it floats on the London stock exchange next week. The company provides loans of between £500 and £10,000 for up to a year at a rate of over 40 per cent, with repayments guaranteed by someone connected to the customer, such…
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The Money Advice Trust has published its latest impact report which outlines the impact of its advice services, training and influencing work in 2017. The report shows that the charity’s National Debtline and Business Debtline advice services helped more people and small business owners to tackle their debts in the year than ever before, as…
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Data specialist TDX Group has announced two new appointments, James Connolly joins as UK Business Development Director and Paul Eddie as UK Sales Director. James Connolly will lead TDX Group’s asset sale services. With over 20 years of industry experience, Connolly will focus on the collections and recoveries lifecycle across lending, retail, water and debt…
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Technology specialist Phoebus Software has announced that it has increased its client’s lending and savings balances serviced on the Phoebus solution to over £40 billion. Phoebus multi-currency system services a broad range of products for banks, lenders and third-party servicers. The company has invested a large amount in research and product development over many years,…
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The Association of British Credit Unions (ABCUL) has announced that it has appointed a new Chief Executive to replace Mark Lyonette who stood down in May. Robert Kelly, the current Chief Executive of NHS Credit Union and former President of ABCUL, will take up the role later in the year. Kelly brings with him a…
Read morePersonal insolvency specialist, Creditfix has taken 15th spot in a major employee poll to uncover the best companies to work for. Headquartered in Glasgow, the firm is the only debt advice specialist to appear in the 2018 “50 Best Companies to Work For in Scotland”, scoring high marks in three key areas – wellbeing, community…
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Anti-money laundering (AML) specialist SmartSearch has launched a fully integrated app which allows AML checks to be carried out remotely. SmartAML is able to electronically verify all documents remotely, with the same capabilities as the full SmartSearch verification platform. This means users can carry out instant AML checks when they are in a client’s home or…
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TransUnion has announced that it has completed the acquisition of Callcredit Information Group, for approximately £1 billion $1.4 billion). Founded in 2000, Callcredit is a U.K.-based information solutions company that, like TransUnion, provides data, analytics and technology solutions to help businesses and consumers make informed decisions. Jim Peck, TransUnion’s President and Chief Executive Officer said…
Read moreCYBG have reached an agreement with Virgin Money to acquire the business confirming a £1.7 billion deal. The agreement will create the UK’s sixth-largest bank. Virgin is the largest shareholder in Virgin Money with a stake of ca. 34.8%. The combination of two of the country’s leading challenger banks will create a powerful competitor to…
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