Credit, Collections & Insolvency News
More than a quarter (30%) of finance professionals believe that blockchain technology has the ability to offer enhanced data security in their organisation, while over half (51%) are confident that their organisation will be working with smart contracts incorporated in blockchain by this time next year. These findings come from a study of more than…
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The number of fines handed out for money laundering and terrorist financing rule breaches has fallen 20 percent in the last year as tougher enforcement delivers a wake-up call, anti-money laundering and Big Data specialist Fortytwo Data reveals today. It follows record enforcement in 2015/16 when 1,170 professionals – including lawyers, accountants and those in…
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Two new appointments have been made at iVendi. Alex Park joins as a Data Engineer, have worked previously with CAPGemini as a big data consultant on a number of high profile, secure data projects. Whilst Michael Brown has been appointed as a Data Scientist, having had previous experience for the Co-op Bank in a similar role within…
Read moreCitizens Advice has responded to British Gas’s announcement that the supplier is raising prices for customers on a standard variable tariff by 5.5% – an average of £60. It is the second price hike in 8 months from British Gas. Victoria MacGregor, Director of Energy at Citizens Advice, said “There are serious question marks over…
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Co-op Energy, part of The Midcounties Co-operative, has made an offer to acquire Flow Energy. If accepted, the proposed deal will see The Midcounties Co-operative, the largest independent co-operative in the UK welcome around 130,000 more customers into Co-op Energy and give more energy users a greater voice in how their energy company operates. Commenting…
Read moreOver 10% of consumers would prefer to take legal advice from robots according to a new report by Reboot Digital Marketing who analysed findings from Mindshare, The report surveyed more than 6,000 individuals from across the UK to see whether they would prefer robots or humans in eight different occupations/scenarios. The report found that when…
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The Credit Services Association (CSA), has announced the first of the major sponsors for the 2018 UK Credit and Collections Conference (UKCCC), which this year moves to Crowne Plaza, Stratford Upon Avon. Conexus Recovery and Field Services, which has clients across the banking, utilities, retail and debt purchasing sectors, is returning as a sponsor and…
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Sharon Donnelly, Deputy Governor, of Ireland’s Central Bank has highlighted the progress made to date in tackling non-performing loans (NPLs) in Ireland, though notes the significant complexity in dealing with the outstanding arrears cases. This comes in a signed article co-authored with Trevor Fitzpatrick, Darren Greaney, Fergal McCann and Mícheál O’Keeffe and published as part…
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Last year saw a return to growth in the loan sales market, with a total of €114 billion of real estate backed loan sales recorded during the year, according to the latest report by the global real estate advisor, CBRE. Despite being a record year for loan transactions, there are still circa €1 trillion of…
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As part of the launch of the Financial Conduct Authority’s (FCA) business plan, the FCA has announced that it has increased its spending on Brexit to £30 million and will need to raid other budgets to cover the cost as the clock ticks down towards EU withdrawal. This year the FCA has taken £14 million from its…
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Online research from TDX Group, an Equifax company, reveals that 45% of people think it’s too easy to get into debt, with a further 20% stating that banks and other lenders need to be stricter about the amount they lend to consumers. The survey, conducted with Gorkana, also highlighted that 68% of people think a…
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The Financial Conduct Authority (FCA) has published its business plan for 2018/19 which sets out the key priorities for the coming year. The FCA says the priorities in this year’s business plan reflect the high level of resource needed to dedicate to European Union (EU) withdrawal, given its impact both on our regulation and the…
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New research by Landbay has found that tenants now spend more than half their income on rent. The Landbay Rental Index, powered by MIAC, found that rental payments now account for over half (52%) of the average take-home pay of £1,471 for people living and working outside the capital. The average rent paid in the UK…
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