Credit, Collections & Insolvency News
According to new research by Equifax, consumers are most likely to vote with their feet when it comes to their electricity and gas provider (41% say they would switch), followed by their TV/internet provider (33%) and mobile phone provider (31%). The research found only 22% of people would switch their bank account, and the figure…
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Trade Ledger, an open banking platform for business credit automation & Nimbla, the pioneering trade credit insurance platform have announced a new partnership to streamline trade finance & insurance processes for banks and lenders. The partnership will be the first time two Banking-as-a-Service (BaaS) platform providers have come together in the corporate lending sector but…
Read moreOne in four consumers believe the ownership era is coming to an end, a study found. A poll of 2,000 UK adults found more than 40 percent believe they’ll never own their own home. And it also emerged currently less than half the nation own cars outright. The results of the study display the current…
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Target Group, the business process outsourcing (BPO) and operational transformation provider, has announced it has closed its mean gender pay gap by 4.8 percentage points to 22.5%, considerably below the finance and insurance average of 33.4%. Meanwhile, its median gender pay gap has fallen by 5.5 percentage points to 15.1%, again significantly below the sector…
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New statistics from StepChange debt charity has revealed the ever-increasing scale of demand for debt help in the UK. The charity received 657,930 new contacts in 2018, up from 619,946 in 2017. Around 60% of new contacts to the charity are now online, with around 40% by telephone. The profile of people seeking help and…
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UK Asset Resolution (UKAR), has confirmed that it has agreed to sell two separate portfolios of residential owner-occupied mortgages and unsecured loans to Citi for a total of £4.9 billion. The majority of financing for the transaction is being provided by PIMCO. Financial completion is expected within the next few weeks and will enable UKAR…
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Videalert, a supplier of intelligent traffic management and enforcement solutions to local authorities, has been acquired by enforcement services group Marston Holdings. The announcement follows successful deployments for a number of Marston’s strategic clients, including the London Borough of Barnet, the Royal Borough of Kingston upon Thames and the City of Westminster, where Videalert has…
Read moreAccording to latest research by Moneyfacts.co.uk, the number of credit-impaired residential mortgages has decreased by 261 to 590 products over the past six months. Although choice is becoming more limited overall, the average credit-impaired two-year fixed rate mortgage has fallen by 0.13% to 4.36% since October last year while the average three-year rate has fallen…
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The Financial Conduct Authority (FCA) has began regulating the claims management industry. All claims management companies (CMCs) in England, Scotland and Wales will now have to demonstrate they meet and maintain minimum standards set by the FCA. All existing and new CMCs will need to apply to the FCA for authorisation. More than 900 CMCs…
Read moreNationwide Building Society, has chosen credit risk and Artificial Intelligence (AI) experts Jaywing, to work with its analytical team on analysis of different risk modelling techniques, as it explores the application of machine learning for application scoring. Nationwide was seeking to boost the performance of the application risk models it uses to approve existing customers…
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Stephen Sklaroff, the Director General of the Finance & Leasing Association (FLA), has decided to leave the FLA later this year, after some twelve years in the post. Commenting on his departure, Sklaroff said “It has been a privilege and a pleasure to work with the FLA’s members over the past twelve years as they…
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Arvato Financial Solutions (AFS) has announced it has appointed a new Operations Director for the UK market. Alasdair Skeoch, who has over thirty years’ experience within the credit industry, has joined AFS to lead the contact centre and field services operations. Skeoch has a track record of success in senior Operational and Client Service roles…
Read morePayment solution provider Gala Technology has won the ‘Security Solution Of The Year’ award at the Call & Contact Centre awards. The award completes a hat-trick of recent recognition for the Gala Technology team, who have previously been presented with the ‘PCI: 2019 Award For Excellence’ in January and ‘Best Use Of Technology’ within a…
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