Credit, Collections & Insolvency News
Credit risk specialist Jaywing has announced a new engagement to develop an IFRS 9 model monitoring solution to mortgage provider, CHL Mortgages. Jaywing’s IFRS 9 model monitoring will cover a range of CHL’s residential and Buy-to-Let (BTL) products. Jaywing began work on the project by providing independent model validation to CHL. It has now also…
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Contactless card transactions were nearly a third of all volume in January 2019 according to new data from UK Finance. Over the month, there were 642 million contactless card transactions in the UK. This is a 19.5% increase from the same time in 2018, a total of 537 million. The value of these contactless transactions…
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TSB has announced a UK banking first, a Fraud Refund Guarantee, to ensure the Bank’s 5.2 million customers are protected if they are an innocent victim of fraud – whether it’s unauthorised transactions on their accounts or customers tricked into authorising payments to fraudsters. TSB’s announcement marks a significant step-change in banking, where today customers…
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Arvato Financial Solutions has appointed a new Business Development Director for the UK Market. Alistair Kay who has over thirty years’ experience within the credit industry has joined Arvato from TransUnion (formerly Callcredit) to lead up the development and acquisition of new clients. Kay has a background of sales within the BPO, Financial Services markets…
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A series of podcasts are being released by Flexys Solutions to examine the state of the debt collection industry across a range of sectors. In the first episode, Flexys are joined by Monzo, RBS and the Money Advice Trust in the first episode to discuss how debt collection operations have changed over the past 20…
Read moreTwo in five (40%) British adults are at least fairly worried about their current level of debt, while the same proportion (40%) say they sometimes or often struggle to make it to payday, according to research by insolvency and restructuring trade body R3. The figures, from the latest in the long-running R3/ComRes survey of over…
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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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Up to 7.9m households in the North West, South West and Midlands could see their water bills fall by as much as £70 before inflation by 2025, after Ofwat published draft decisions on plans put forward by United Utilities, South West Water and Severn Trent. Ofwat’s draft decisions for 2020 to 2025 would also mean…
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Vulnerable people who fall behind with Council Tax payments will have greater protection from aggressive debt enforcement under new plans to improve the way councils collect arrears. Following concerns from charities, debt advice bodies and local councils, ministers are moving forward with work to create a fairer, more efficient and compassionate debt recovery system. Local…
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Companies applying for a licence to supply energy will have to undergo more stringent tests from June in order to help drive up standards for customers and reduce the risk of supplier failure. Applicants will need to demonstrate they can adequately fund their operations for their first year, outline how they expect to comply with…
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The amount of money being achieved for a repossessed home by Spicerhaart Corporate Sales is at its highest level in nine months. Spicerhaart Corporate Sales achieved an average of 104.29% against the market value on properties that were taken into possession and sold in March 2019. This figure is up from an average of 96.73%…
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Azzurro Associates has announced it has appointed Karen Savage as Chief Operating Officer. In her new role Savage will oversee the company’s business operations. She will also assist the company’s CEO in accelerating the company’s external partnerships and origination opportunities, ensuring the alignment of progress towards fulfilling Azzurros strategic objectives. Prior to joining Azzurro in…
Read moreThe Money Advice Trust has today launched its revamped ‘How to deal with debt’ guide for England and Wales. The guide takes people in debt through the steps they need to take to deal with their financial situation from start to finish and draws on behavioural science techniques to keep users engaged and motivated throughout…
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