Credit, Collections & Insolvency News
Seven in ten businesses struggle to unlock data’s true potential because of a lack of control, leaving many businesses with untrusted data that undermines business innovation and customer interactions, new research from Experian has revealed. Experian’s Global Data Management report, which surveyed 1,000 data practitioners from organisations around the world, found that although three-quarters (75%)…
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Credit risk and Artificial Intelligence (AI) specialist, Jaywing, has announced the results of an exploratory piece of work undertaken for Newcastle Building Society, to increase the effectiveness of its risk application models using Jaywing’s AI-based product, Archetype. Newcastle Building Society recently undertook some enhancements of its customer risk scores and wanted to understand whether applying…
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Morses Club the UK’s second largest home collected credit lender, has announced the acquisition of the business and assets of Hays Credit, a home collected credit lender. Hays is a family-run business which has been operating since 1957, providing loans to approximately 2,700 customers across the North East of England. Hays has outstanding balances of approximately…
Read moreThe Credit Service Association (CSA) has responded to last week’s Financial Ombudsman’s figures on debt collection. In a statement the CSA said “Recent media reports using figures from the Financial Ombudsman Service (FOS) fail to mention that the total number of complaints relating to debt collection activities has in fact fallen year-on-year, is significantly lower…
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The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, has further strengthened its Board of Directors with the appointment of four new senior industry executives. Frank Horvath has more than 30 years’ experience in financial services, including 27 years as a lender, debt seller and debt placer. His…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in December 2018 by 4% compared with the same month in 2017, and by 5% in Q4 2018 as a whole. Credit card and personal loan new business together grew in December by 5% compared with the same…
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New figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market grew 1% by volume and 4% by value in December 2018, compared with the same month in 2017. The POS consumer new car finance market reported new business volumes in December…
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New figures released by the Finance & Leasing Association (FLA) show that the second charge mortgage market reports volumes up by 13% in December. Commenting on the December 2018 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “December…
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Big firms will feel the pain of the Apprenticeship Levy this spring when the first wave of levy payments will be wiped from their accounts unless they have invested them in training apprentices according to apprenticeship provider Develop Training Limited (DTL). Companies with payrolls above £3 million have been paying into the scheme since its…
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LendingMetrics has announced that it has agreed on an ADP platform partnership with Evolution Money. By using Lending Metrics ADP, Evolution will be able to make credit decisions within milliseconds and build rules, scorecards and matrices using a variety of data sources. LendingMetrics’ Director David Wylie said “ADP forms an important part of Evolution’s growth…
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More water companies should pour some of their own profits into schemes designed to help cash-strapped households with their water bills, according to the Consumer Council for Water (CCWater). The Water Watchdog wants the industry to increase its funding of financial assistance for low-income customers, ahead of a 2 percent rise in the average water and sewerage bill in England…
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Ofgem has announced that the energy price cap for customers on default (including standard variable) tariffs, introduced on 1 January 2019, will increase by £117 to £1,254 per year, from 1 April for the six-month “summer” price cap period. The price cap for pre-payment meter customers will increase by £106 to £1,242 per year for…
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Workplace pressure is a major contributing factor to mental health issues among business leaders, according to a new survey from the Institute of Directors, published on Time to Talk Day 2019. Among the 500 directors and managers polled, more than half said they had experienced poor mental health that was in part connected to factors…
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