Credit, Collections & Insolvency News
Styles & Wood has announced that it has secured new contracts to deploy its Award-winning Arctick Governance Risk and Compliance RegTech solution to support two financial services firms. Artick won Best Regulatory Technology solution at the 2017 Credit & Collection Technology Awards. Go Car Credit Limited, a consumer motor finance lender, has chosen an off-the-shelf…
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Experian has announced that it is introducing a new seamless process for loan applications, delivering significant time savings for consumers. The new journey integrates the loan purchase experience into one place, with customers having to enter far fewer details because Experian’s data insights allows it to pre-populate the relevant information. As well as being given a…
Read moreTesco Bank has cancelled some of its customers’ credit cards, after concerns that a number of accounts may have been compromised. The bank said that only a tiny number of its three million credit card users would be affected, and apologised for the inconvenience. A Tesco Bank spokesman said “We take the security of our customers’ accounts…
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The Finance & Leasing Association (FLA), working alongside employers in a Trailblazer group, has launched its Motor Finance Specialist apprenticeship to offer employment and training opportunities to those entering one of the UK’s fastest growing sectors. A new section on the FLA’s website provides all the necessary information that firms will need to get their…
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Debt purchaser, Motormile Finance UK (MMF) has announced that it will now be known as Lantern going forward. Since 2008, MMF have purchased more than 2 million accounts with a notional value of over £1bn. In 2015, the company underwent a significant transformation as a result of regulatory changes in the sector, which includes the implementation…
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Personal finance should be included as a standalone subject in UK schools, according to the deVere Group. Nigel Green, the founder of deVere Group, has made the suggestion speaking out days after the leader of the Church of England, the Archbishop of Canterbury, said that learning about finances is as important as learning about sex…
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Ofgem has proposed new rules that would lead to UK consumers saving £5 billion on energy bills over five years. The Office of Gas and Electricity Markets (Ofgem) has announced a proposal to input strict price controls on energy costs. The proposals will lead to £15-£25 in savings per year for household consumers and 5…
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Welcom Digital has announced that it has launched a new and refreshed website. In a statement, the company said “We’ve introduced a fresh look and feel to our website that better reflects our position as a forward-thinking FinTech business. The new site is easy to navigate and includes new content and features. These changes make it easier for…
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Debt purchaser, Lowell has announced the appointment of John Pears, to the new role of UK Managing Director. Pears will join the business later this year, subject to formal approval from the Financial Conduct Authority. Pears will join Lowell’s UK and Group Executive teams and report to Group CEO, James Cornell. He will take charge…
Read moreIrish regulator, The Competition and Consumer Protection Commission (CCPC) has published a detailed report analysing the Personal Contract Plan (PCP) car finance market. Prompted by the growing popularity of this type of finance, the large sums of money involved and the complexity of the agreements, the CCPC began a study of the market in July…
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Young people across the UK are slashing spending to make ends meet at the start of the year, according to the latest Lloyds Banking Spending Power Report. In the monthly Ipsos MORI survey of over 2,000 bank account holders in the UK, 60% of all consumers say they have changed their eating and going out…
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Fraud prevention service, Cifas, has released new figures showing stark increases in the number young people acting as ‘money mules’ and those falling victim to identity fraud. The data has been released to coincide with the launch of new anti-fraud lessons plans, developed by Cifas, in association with the PSHE Association, the national body for…
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Software development company, Intelligent Environments (IE) has announced it has launched the latest iteration of Interact® Collect – a solution that finally rewires the debt recovery and reconciliation process for the digital world. Simon Cadbury, Director of Strategy at Intelligent Environments. said “Intelligent Environments continues to reduce the friction of managing debt, taking the collections…
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