Credit, Collections & Insolvency News
Deceased account management specialist, Phillips & Cohen Associates has announced changes to strengthen its senior leadership team. In the re-organisation, Nick Cherry moves up to the role of Chief Operating Officer for the global organization. Cherry, who has been with the business since 2010, previously fulfilled the role of Managing Director of PCA International and…
Read moreThe Information Commissioners Officer (ICO)’s Deputy Commissioner has reminded organisations to be transparent with people’s personal data after a survey revealed a significant deficit of trust that organisations must address if they want to innovate with personal information. New ICO research found that only one fifth of the UK public (20%) have trust and confidence…
Read more
Collections consultancy, Arum Systems has been acquired a new investment team. The deal was completed a month after Arum released its annual financials. No significant changes are planned for Arum or its management team. Jamie Waller, former CEO of JBW and Hito and the lead investor on the deal said “Arum has a great reputation in the industry…
Read moreThe Financial Conduct Authority (FCA) has published its ‘FCA Mission – Our Future Approach to Consumers’. When the FCA launched its mission, it committed to publishing a series of documents that would explain its approach to regulation in more depth. The FCA’s Approach to Consumers is the first in this series, and explores the approach…
Read more
New research, conducted by specialist business consultancyCtrl-Shift, and Callcredit suggests that Open Banking will expose banks to new competition, by forcing traditional banks to open their API (Application programming interface) to third parties. This will give competitors access to banks’ enormous data collections. According to the research, banks have underused this data, due to their complex…
Read more
Cabot Credit Management has announced its latest financial results for nine months ended 30 September 2017. Highlights include: Collections growth of 16% and revenue growth of 13% vs year to date Q3 2016 driven by liquidation initiatives Adjusted EBITDA growth of 19% on a year to date basis from cost efficiency measures and scale benefits…
Read more
MotoNovo Finance has started a recruitment drive for more than 200 roles. The roles include dealer development, customer care, collections, marketing, and credit analytics as well as department heads and senior leadership positions. The recruitment drive supports MotoNovo Finance’s continued expansion in existing and new areas such as the forthcoming launch of its findandfundmycar.com sales…
Read moreFollowing on from the Bank of England Monetary Policy Committee news that is has voted to increase interest rates by 0.25% to 0.5% – the first rate rise since 2007. The credit and collections industry has responded to the rate change. Joanna Elson OBE, Chief Executive of the Money Advice Trust, the charity that runs…
Read moreDebt purchaser Intrum has entered into an agreement with Lowell to sell Lindorff’s businesses in Denmark, Estonia, Finland and Sweden as well as Intrum Justitia’s business in Norway. The sale agreement was specified by the European Commission as a condition of the combination of the Intrum Justitia and Intrum companies earlier this year. The transaction value of…
Read moreHouseholds on variable rate mortgages with the lowest levels of disposable income are at risk of sinking further into debt if interest rates increase by 0.25 per cent devt advise specilaist PayPlan has warned . Even a modest rise could have a ‘devastating’ impact on millions of Brits, especially those with a poor credit rating…
Read moreDebt solution provider Harrington Brooks, part of the One Advice Group, has appointed Nick Pearson to the role of Group External Relations Manager. He starts with immediate effect and will be focusing on meeting the creditor partners with which the Group. Pearson is the former Chief Executive of The Debt Counsellors Charitable Trust and has…
Read moreThe Credit Services Association (CSA) has urged members to start preparing for the government’s decision to ban additional charges for certain future card payments. From 13 January next year, businesses, including CSA Members, will no longer be able to charge surcharges for certain card transactions, but will still face the costs for processing card payments.…
Read more
Callcredit Information Group and payments service firm ShieldPay have agreed a partnership to provide secure online payments to its Shieldpay’scustomers. ShieldPay´s patent pending technology protects both buyer and seller in any payment by verifying both individuals. Using Callcredit’s ID and bank verification solutions ShieldPay can verify both party’s identity and bank account reducing the chances of…
Read more