Credit, Collections & Insolvency News
Peer-to-peer lending platform JustUs has been granted full authorisation by the Financial Conduct Authority (FCA). Founder and Chief Executive Lee Birkett CEO said: “I am thrilled we have secured this authorisation. It has been a long process and we understand the need for the FCA to be thorough and rigorous. It means we can now…
Read more
UK Finance has released the latest remortgaging date which shows that lending for house purchases in July was lower than in the preceding month but higher than a year earlier. Highlights from the statistics show: First-time buyers borrowed £5 billion, 15% lower than in June but 14% higher than in July 2016. They took out…
Read moreChallenger Bank, Instabank has announced a partnership with Provenir. Instabank is using Provenir’s technology to aggregate credit applicant data from structured and unstructured data sources, including credit bureaux and its core banking system, to provide customers with an instantaneous credit decision. Robert Berg, CEO, Instabank said “Our entire approach is built on simplifying banking, making…
Read more
“Vulnerable customers are from all backgrounds, in every society and every walk of life; but they may not always be who you think they are!” Those working in the financial services and consumer credit industries will have undoubtedly heard the term ‘Vulnerable Customers’. It has become a common regulatory and workplace reference for a customer who…
Read more
250,000 private renting families in England are becoming burdened with serious debt because they have to move house so frequently, according to Shelter. New research from the housing charity says private renting is so unstable, short and expensive that families are being forced to move too frequently. One in four (255,944) renting families are taking…
Read more
Citizens Advice is warning that the expansion of Universal Credit is ‘a disaster waiting to happen’, as as new findings show it is pushing people further into debt. The charity says that the government’s plans to accelerate roll-out of the benefit from five to 50 areas a month from October could have catastrophic consequences, as…
Read more
New figures released by the Finance & Leasing Association (FLA) show that point of sale (POS) consumer new car finance business volumes fell by 7% in July, compared with the same month in 2016, while the value of new business was up by 3% over the same period. The percentage of private new car sales…
Read more
Commenting on the July 2017 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “The second charge mortgage market reported its fifth consecutive month of growth in July, with new business up 23% by value and 21% by volume.…
Read more
New figures released tby the Finance & Leasing Association (FLA) show growth of 13% in consumer finance new business in July, compared with the same month last year. Credit card and personal loan new business together grew by 16% compared with July 2016, while retail store and online credit new business increased by 11%. Second…
Read more
Speech and customer engagement analytics supplier CallMiner and deceased Account Management services specialist, Phillips & Cohen Associates, have been shortlisted for the ‘Best Customer Insight/Voice of the Customer Initiative’ by the European Contact Centre and Customer Service Awards (ECCCSA) Phillips & Cohen was shortlisted for achieving significant customer experience benefits from its deployment of the…
Read more
The Credit & Collections Technology Awards have confirmed the category list for the 2017 Awards event. The Awards, powered by Credit Connect Media, recognises innovation and technological excellence. Categories include: Innovation in Collections, Lending solution, Credit Risk solution, Best Anti-Fraud solution, Best Collections solution, Best Affordability Assessment solution and Vulnerable Customer Management solution. A full list of…
Read more
Less than 2% of the UK car finance market by value would be considered subprime lending, research has revealed. According to a study produced by Apex Insight, sub prime finance only occupies a thin slice of the market, squeezed between bank-owned car lenders and manufacturer’s financial services divisions, which hold 51% and 47% of share respectively.…
Read more
Twice as many UK grandparents are providing regular financial support to their adult grandchildren when compared to those children’s parents (13% vs. 7% of parents), according to new research from customer-owned financial services company, OneFamily. The OneFamily report found that most of these grandparents’ also provided this support on a no-strings attached basis (73%). This…
Read more