Credit, Collections & Insolvency News
LendingMetrics has unveiled a range of upgrades to its award-winning automated decisioning platform. The data analytics specialist’s ADPv2 gives lenders faster response times and the ability to better fine-tune their lending decisions. The latest version of the low-cost Open Banking-ready technology is being rolled out this week to users across the UK and internationally. David…
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Consumers are putting their finances at risk by shortcutting powers of attorney and relying on goodwill from their relatives to manage their finances, according to Co-op, probate provider arm. A quarter (25%) of over 45-year-olds have access to a relative’s bank account who isn’t their spouse. Of these adults, almost a tenth (7%) have set…
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A new study by UHY Hacker Young has found that 11% of all global patents for blockchain technology were filed by UK businesses last year – ranking them fourth in the world – with 34 patents from a total of 305 filed with the World Intellectual Property Organisation (WIPO) in 2017. No other country in…
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Slough Borough Council is to become the latest local authority to pass unpaid debts to ethical credit management firm Intrum in a bid to enhance the experience of residents and raise revenue for the borough. The agreement with H&F Ethical Collections, the joint venture partnership set up by Intrum UK and Hammersmith & Fulham Council…
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Small energy suppliers have trounced the Big Six in Which?’s annual satisfaction survey, with Britain’s largest providers left languishing near the bottom of the rankings. Which? surveyed 8,000 people across the UK about their provider – and the results demonstrate the importance of performing well in areas valued by customers, including value for money, excellent…
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has submitted its response to the FCA concerning its proposals to introduce price controls in the Rent to Own market. In a statement, the Centre said: We very much welcome the FCA’s announcement to introduce price controls in view of the considerable harm being caused in this sector, and the very low incomes that customers…
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New survey findings commissioned from YouGov by StepChange Debt Charity reveal that more than a quarter of us (27%) started the New Year feeling uneasy about our finances. Among people who feel uneasy, two thirds (65%) have felt this way for more than a year. A fifth (22%) have felt uneasy for more than five…
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Local authorities from across the UK will next month come together to discuss ways of transforming their debt collection practices. Credit management firm Intrum UK and its joint venture partner Hammersmith & Fulham Council have launched an ethical debt collection conference to drive change in council collections after a series of reports suggested the public…
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New research by Leeds Building Society found nearly a quarter of people in the UK who celebrate the festive season (24%) don’t save ahead for it at all. Conversely, 15% of those surveyed start saving in January although 39% tend to leave it much later and start putting money away from September onwards. As part…
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TransUnion (formerly Callcredit) has raised a total of £19,500 for mental health charity Mind, with the money shared across five local Mind associations, as well as the national organisation. The different regions included Bromley & Lewisham Mind, City & Hackney Mind, Leeds Mind, St Helen’s Mind, and Stockport & District Mind, with TransUnion colleagues taking…
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The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase industries, has appointed Henry Aitchison, a former senior executive with the FCA and OFT, to the newly-created role of Head of Policy. Aitchison, who has a career spanning almost 20 years in consumer credit, will have a broad role supporting…
Read moreThe Insolvency Practitioners Association (IPA) has announced a new regulatory framework for the continuous monitoring of the use of an Individual Voluntary Arrangement (IVA) by the high-volume IVA providers. The Insolvency Service classifies high-volume as those firms that are responsible for 2% of the total number of IVAs annually. An IVA is one of the…
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Consumers are bracing themselves for a major financial crisis and housing crash this year according to a new poll from Spearvest, a wealth management firm. The study, conducted by independent survey company Censuswide asked 1,000 members of the UK public about their views on the economic outlook for 2019. A total of 44 per cent…
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