Credit, Collections & Insolvency News
Ten energy companies are failing to achieve even half marks (two out of five stars) in the latest customer service league table from Citizens Advice. That’s a quarter of the firms included in the table. The energy star rating assesses a wide range of customer service indicators, including numbers of complaints, call waiting times, and…
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In a bid to boost transparency and help consumers make more informed decisions about their finances, Experian has expanded its guaranteed rates service. The expansion of the service comes after Experian launched guaranteed rates for loans in May, with LiveLend and Admiral Car Finance joining Likely Loans, Zopa, Lendable, and Shawbrook to provide this offering.…
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Cabot Credit Management has announced that it is enhancing its high standard of customer service by launching a new professional Institute of Customer Service (ICS) training programme for its employees. This programme is designed to provide the foundational knowledge to be considered for an ICS work-based qualification, which is to be launched later this year.…
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The first major bank signs up to Money and Mental Health’s accessibility standards to prevent millions with mental health problems being ‘locked out’ of essential services The Money and Mental Health Policy Institute has today launched the first ever Mental Health Accessible standards, to make essential services easier to use for millions of people with…
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A new report from Zopa has revealed the difficulties faced by customers applying for a personal loan, with most customers offered a rate higher than advertised or rejected altogether. The report, which included a mystery shopping exercise and research amongst loan customers, found that it’s nearly impossible for customers to compare loan providers or shop…
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Home collected credit lender, Morses Club has announced that it has acquired U Holdings through its subsidiary Shelby Finance. Morses Club says the acquisition of U Account is an important step in the company’s strategy of building a digital offering to allow its customers to access credit flexibly in a significant growth segment of the…
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Debt management solution provider, Flexys Solutions has announced that it has appointed a Chief Information Security Officer to their senior management team. David Scholefield has vast experience working across diverse information security sectors including banking, pharmaceuticals and retail. With a history of both hands-on security assurance and risk and compliance management for organisations as diverse…
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Young people today are spending 7 percent less on non-housing items than they were back in 2001, according to the Resolution Foundation’s inaugural Intergenerational audit report. The audit, supported by the Nuffield Foundation, is a major examination of the big generational living standards issues facing Britain. From the labour market to the housing market, and…
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International deceased account management specialist, Phillips & Cohen Associates, has announced the launch of a major upgrade to its unique ESTATE-SERVESM digital solution. ESTATE-SERVESM, powered by Katabat, is a proprietary global solution used by PCA to provide digital account resolution and channel choice flexibility to those handling the final affairs of a loved one. The…
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The Financial Conduct Authority (FCA) has fined Bank of Scotland (BOS) £45.5 million for failures to disclose information about its suspicions that fraud may have occurred at the Reading-based Impaired Assets (IAR) team of Halifax Bank of Scotland. The FCA found that BOS failed to be open and cooperative and failed to disclose information appropriately…
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British energy customers are facing a potential bill of £172 million from the collapse of 11 suppliers since January 2018. On top of this, thousands of people who owed money to failed suppliers lost out on consumer protections and faced aggressive debt collection as a result, according to new research by Citizens Advice. Energy suppliers…
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Challenger credit bureau Credit Kudos has announced they are the Open Banking and Credit Risk partner of choice for the car finance broker, CarFinance 247. Credit Kudos is an FCA-Authorised Credit Bureau and AISP that uses financial behaviour to measure creditworthiness, harnessing Open Banking. Credit Kudos will be supporting both CarFinance 247’s lending and broking…
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Traditional, call centre-focused debt collection practices are becoming a thing of the past, as more and more debt collection agencies (DCA’s) turn to multi-channel communication strategies to improve customer experience and increase engagement. While customer engagement and experience are most commonly associated with retail businesses, within the credit, collections and insolvency sector, there is a…
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