Credit, Collections & Insolvency News
The private sector outsourcing market soared to a three-year high in 2017 as businesses signed contracts worth £4.93 billion, according to the Arvato UK Outsourcing Index. The research, compiled by business outsourcing partner Arvato and industry analyst NelsonHall, found that the total value of contracts signed by UK companies rose 36 per cent year-on-year, from…
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The Northview Group has appointed Mark Arnold as its new Chief Executive. Former Chief Executive Amany Attia stood down from the role last year. Northview includes the Kensington, New Street and Acenden brands. Arnold will officially join on 10th April. Northview Group executive chairman Tim Breedon says: “Mark has extensive experience and knowledge across financial…
Read moreThe Financial Conduct Authority (FCA) has announced that it has imposed a fine of £1,976,000 on credit card lender, Vanquis, for failing to disclose the full price of an add-on product, called Repayment Option Plan (ROP). The firm will also repay an estimated £168,781,000 in compensation which constitutes the amount of the charges not disclosed…
Read moreA one percent interest rate rise would add £10billion to the UK’s mortgage bill, ultimately adding £930 a year to the cost of servicing the average mortgage, according to new analysis from international property adviser, Savills. Four in 10 borrowers on variable rate mortgages would be first to feel the pain. Their annual mortgage bill would…
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ABCUL (Association of British Credit Unions Limited) Chief Executive Mark Lyonette has announced that he will be leaving the association. Lyonette has been at the association for over 20 years. Under Lyonette’s leadership ABCUL has developed into a leading voice on issues such as financial inclusion and banking and payments reform. The Association has secured successive…
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Omnichannel contact centre technology specialist Noble Systems has announced the dates of its 2018 Select Noble Users Group (SNUG) Conference series. The conferences help Noble’s users “get connected” to their Noble products and collaborate with other users, so they can work faster and smarter, lower costs and optimise results. Noble Systems hosts the SNUG Conferences…
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Aire has announced two new senior appointments. Peter Jackson, a former CEO of Worldpay UK and current CEO of Paddy Power Betfair, took the post of Chairperson of Aire’s Board of Directors in October 2017. Previously, Jackson worked as Head of Global Innovation at Banco Santander and held senior positions at Lloyds and Halifax. His…
Read moreCredit Kudos and Lending Works have announced a partnership that creates one of the first commercial applications of the new Open Banking standard. Credit bureau Credit Kudos and Lending Works, peer-to-peer (P2P) lending platform, are partnering to enable customers to benefit from the UK’s Open Banking initiative, a secure way for banking customers to take…
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Vernon Building Society has announced the appointment of Steve Fletcher as its new Chief Executive. Fletcher succeeds Mike Hanson, who has retired. Fletcher joins from Clydesdale and Yorkshire Bank, where he was head of customer banking networks. Fletcher says: “I am delighted to be joining the society at such an important and exciting time in its…
Read moreCollections specialist Grosvenor Services Group has announced two new appointments to its team. Russell Brewin has been brought on board as head of field operations, whilst Keigley Griffiths has been appointed as a new account manager. Brewin has 21 years’ of industry experience at NPower, where he was responsible for field operations, debt collection and…
Read moreThe Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) has announced the appointment of Marshall Bailey as Chair of the Financial Services Compensation Scheme (FSCS) with effect from 1 April 2018. The appointment was made by the FCA Board and the Prudential Regulation Committee (PRC) with the approval of HM Treasury. Marshall Bailey…
Read moreEuropean debt purchaser Intrum has announced that Thomas Moss has been appointed acting Chief Financial Officer (CFO). Current CFO Erik Forsberg will leave the company next week Moss is currently the Director of Group Business Control at Intrum, a role that he has held for the past 4 years. Before he joined Intrum he held the…
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Aire, which provides an alternative way for lenders to understand and score credit applicants, today announces that it is launching an evaluation with Toyota Financial Services (TFS) for its Artificial Intelligence (AI) platform. The collaboration is designed to prove the effectiveness of Aire’s technology to assess the financial situation of TFS customers within ‘customer delinquency’.…
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