Credit, Collections & Insolvency News
TriLine GRC, a provider of Governance, Risk and Compliance (GRC) software solutions to enterprises around the world, has announced that has appointed Ian Wilson, recently Business Development Director at Arctick and Hitec, as Director Sales (UK & Europe). Donald Halley, Director Business Development TriLine GRC said: “We are very excited that Ian is joining us.…
Read moreThe number of UK workers turning to high-cost short term loans (payday loans) as they struggle to cover their living costs and make ends meet continues to rise. Using data collected from over 700,000 payday loans requested between January 2017 and December 2018, credit broker CashLady has gathered together an in-depth analysis of the average…
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Affordability is expected to grow in importance during 2019 when it comes to warranties and other value-added products (VAPs), according to warranty provider firm Assurant. Increasing demand is being seen for these items from used car buyers but ensuring they fit within personal budgets is essential, said Sean Kent, head of account management at Assurant.…
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Morses Club, the UK’s second largest home collected credit lender, has announced that it has acquired Shelby Finance and certain assets of CURO Transatlantic trading as WageDayAdvance out of administration. The total consideration for the acquisition is approximately £8.5m paid in cash, 50% on completion and the balance over 5 months (depending on the final…
Read moreNon-Standard Finance (NSF) has made a £1.3billion takeover offer for rival Provident Financial. NSF said the takeover was backed by more than 50% of Provident’s shareholders, including fund manager Neil Woodford, Invesco and Marathon. Investors must still vote on whether to approve the deal. John van Kuffeler Chief Executive of Non-Standard Finance said “We have…
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One in five (17%) adults in Scotland would find it somewhat difficult, very difficult or impossible to immediately pay an unexpected bill for £20, without assistance from an external source, according to new research from R3, the insolvency trade body, and ComRes. In the survey, 4% of adults in Scotland said they would find it…
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Corcentric, a provider of procurement and financial process automation solutions, has announced the acquisition of Netsend. Headquartered in London, Netsend offers electronic billing, invoicing, and document distribution services to the FTSE 100 and global blue-chip companies in over 50 different countries. The acquisition marks Corcentric’s expansion into the global e-billing market as a SaaS provider.…
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Here is an overview of The Money Charity’s latest statistics for February 2019: Personal debt in the UK People in the UK owed £1.625 trillion at the end of December 2018. This is up from £1.576 trillion at the end of December 2017, an extra £935.34 per UK adult, £81.72 higher than the previous month. The average total debt per…
Read moreOfgem has issued a provisional order on energy supplier Solarplicity, banning the energy supplier from taking on new customers and increasing vulnerable customers’ direct debits, due to its poor switching process and customer service. The ban will remain in place for three months unless Solarplicity significantly improves by: Ensuring customer contact channels are improved, managed…
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Loans specialist 1st Stop Group has joined the London Stock Exchange Group’s international business support and capital raising ecosystem platform called ELITE. 1st Stop Group offers car finance loans, secured second charge mortgages and unsecured personal loans to UK customers, serving customers who are not able or not wishing to borrow from high street lenders.…
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LendingMetrics has announced it has signed a record number of contracts with new lenders during the first seven weeks of the year. Between January 1 and February 19, the auto-decisioning specialist gained 26 additional UK customers. The companies will be using either LendingMetrics’ Open Banking platform, OpenBankVison, or its automated-underwriting software, ADP, both of which…
Read moreOver three-quarters, (77%) of consumers say they are confused by financial jargon and this is having consequences for their finances, according to research. Six million consumers have incurred late fees because they’ve misunderstood information on financial products. One in 10 (10%) say they have lost out on favourable rates at the bank because they were confused by financial terminology and 12 percent…
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The Registry Trust has announced that the board has appointed Lex Jones as Interim Chief Executive Officer (CEO) with effect from March 1st. Jones joined the Registry Trust from the Financial Ombudsman Service in 2017. The news follows current Chief Executive Officer, Nick Rossiter’s decision late last year to take early retirement on health grounds Rossiter…
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