Credit, Collections & Insolvency News
1Experian has announced that it has agreed to acquire Compuscan (CSH Group Pty), one of the leading credit bureau and information services businesses in Africa. Established in South Africa in 1994, Compuscan started as a credit bureau, focused on the micro-lending industry. It enabled micro lenders to avoid financial loss by identifying clients’ repayment probability…
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Jaywing won the 2018 Credit & Collections Technology Award for Technology Team of the year. This review takes a look at Jaywing’s work and the criteria its team met to win the award. Category Title: Technology Team of the YearAward winner: JaywingTitle of winning projects/initiative: Product development team, ArchetypeKey team members: Martin Benson, Martin Smith,…
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UK Finance has published its latest Mortgage Trends Update for October 2018 which reveals that remortgaging is at its highest level since 2008. The figures show that there were 50,500 new homeowner remortgages completed in the month, some 23.2 per cent more than in the same month a year earlier. The £9.2bn of remortgaging in…
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According to new research, an estimated £143 million’s worth of unwanted Christmas presents will be returned this year. However, only around two thirds of people will be successful in returning items. The research, commissioned by GoCompare Money, found that 30% of UK adults have returned a Christmas present they had been given, with 8% doing…
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Equifax believes that Open Banking will play a key role in Fintech development in 2019. Jake Ranson, Banking & Financial Institutions Expert and CMO at Equifax UK, believes consumers will begin experiencing the full benefits of Open Banking in the year ahead. “January 2019 marks the first anniversary of Open Banking, and we can expect…
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P PayPlan has been recognised by the Advice Service Alliance for its excellent practice and determined approach to provide clients with the best possible advice and debt solution, during its recent Advice Quality Standard (AQSv2) assessment. The Advice Service Alliance commended the free debt advice provider for recognising the shift in client needs and offering a multiple…
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The Bank of England has published its latest mortgage lenders and administrators return (MLAR) is a quarterly statistical release aggregated from data on mortgage lending activities provided by around 340 regulated mortgage lenders and administrators. The figures show that the value of outstanding mortgage balances with some arrears increased for the first time since 2016…
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Barclays mobile banking customers can now choose to block their ability to spend with certain types of retailer, in a move designed to help vulnerable customers struggling with addictions. The move is designed to help customers take more control of their finances. The new feature could help those dealing with gambling problems, for example, to…
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Measures to increase transparency and prevent abuse of limited partnerships, which some criminals have used to launder dirty money through the UK have been unveiled, as the government published its response to the consultation on the reform of Limited Partnership law. Scottish Limited Partnerships (SLPs) and Limited Partnerships (LPs) are used by thousands of legitimate British…
Read moreMoney Advice Service research has revealed that 45% of parents say their children are more likely to pester them for money or to buy them things in the lead up to Christmas. ‘Pester power’ is the ability children have to convince their parents to buy something, by asking for something repeatedly. A third of parents…
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BNP Paribas Personal Finance UK has launched a new motor finance solution with Ivendi. BNP Paribas, has a wealth of motor finance experience globally, and currently works with 1800 dealers in over 11 countries, as well as partnering across a network of 16 manufacturers. Working with highly experienced specialist teams at iVendi, a new, digital solution…
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British shoppers have been warned to be extra vigilant this Christmas from fraud, as findings from Shieldpay’s latest Fraud Tracker reveal that one in five people (20%) have been scammed whilst buying Christmas presents online. Nearly one in 10 (9%) claim to have never received the item they purchased, whilst the rest reported that they…
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One Select, an energy supplier with about 36,000 domestic customers, has ceased to trade. Under Ofgem’s safety net, the energy supply of One Select’s customers will continue as normal. The outstanding credit balances of domestic customers will be protected. Ofgem will choose a new supplier to take on One Select’s customers as quickly as possible.…
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