Credit, Collections & Insolvency News
Audit, tax and consulting firm RSM has found the number of new UK tech start-ups has risen by almost 16 per cent this quarter. A total of 10,435 software development and games businesses have been incorporated so far this year, according to data held by Companies House. In quarter three 2020 there were 3,641 tech…
Read more
A new business survey by Fico has revealed that Financial Services companies are severely lagging in online consumer services with the vast majority of traditional banks and fintechs are either far behind their transformation goals, or missing them outright. The report and underlying survey found that three percent of traditional bank executives feel their company…
Read moreA new global and UK study by the Economist Intelligence Unit for information and insights provider TransUnion has overwhelmingly found the key to whether or not companies go out of business hinges on providing consumers friction-right digital transactions. More than eight out of 10 executives, both in the UK and globally said they believe smooth…
Read more
Netacea, a provider of bot management solutions has announced that credit score provider C;learScore has selected Netacea’s bot management solution to protect against credential stuffing attacks and account takeovers. Klaus Thorup, Chief Technology Officer, ClearScore, said“At ClearScore, we deal with highly sensitive credit report data every minute of every day. In the wrong hands, this data…
Read more
Buy Now Pay Later (BNPL) provider Zilch has partnered with challenger credit reference agency and Open Banking provider Credit Kudos to better assess the affordability of its customers. Zilch says that the COVID-19 outbreak has brought affordability into sharp focus and BNPL providers are under increased pressure to protect potential borrowers – in particular young…
Read more
Yu Energy has announced that it has selected Just to manage its post litigation collections through the enforcement market integration service. The company says that the partnership will ensure that it can further optimise processes to recover what it is owed to allow it to maintain competitive prices across the industry. Bobby Kalar, Founder and…
Read more
Global information and insights provider TransUnion has extended its fraud and identification offering with a new Document Verification and Facial Recognition solution, to help combat the increasing rise of identity fraud. Shail Deep, Chief Product Officer at TransUnion said: “Over the past five years, identity fraud cases have risen by 32% according to Cifas and…
Read more
Specialist mortgage lender United Trust Bank has selected LendingMetrics’ ADP for their automated mortgage decisioning. United Trust Bank is a specialist mortgage lender providing a range of first and second charge products through its panel of approved introducers. The new platform, currently undergoing the bank’s UAT process, augments the expertise of the bank’s underwriters, by…
Read moreLending software solutions specialist Aryza has announced that its partnership with Freedom Finance, to develop customer engagement solution ‘myfreedom’ has already helped hundreds of UK consumers secure access to credit and gain a clearer understanding of their finances, with over £1 million being lent in the first few weeks. Aryza’s solution allows users of the…
Read more
The Financial Conduct Authority (FCA) has opened application windows for two ‘sandbox’ services to support innovative firms tackling challenges caused by the coronavirus (Covid-19) pandemic. Application windows for Cohort 7 of the Regulatory Sandbox and the pilot of a new Digital Sandbox initiative have opened with an emphasis on supporting products and solutions that will assist consumers and firms…
Read more
The Open Banking Implementation Entity (OBIE), the body set up by the Competition and Markets Authority (CMA) to deliver open banking in the UK, has announced that over two million customers are now using open banking-enabled products. The figures represent a significant upswing in the use of open banking technology despite the disruptive effects of…
Read more
The Credit & Collections Technology Awards, which recognises technological innovation in the credit and collections industry for companies and individuals who have done the most outstanding work in the past year is set to announce the winners via an online webinar ceremony on Thursday 19th November. This year’s online Awards ceremony will replace the face-to-face…
Read more
Exizent, a Glasgow-based technology firm, has raised significant funding with the launch of new business which aims to transform the way the legal and financial services industry deals with bereavement. The company says that in an era of digitised services, with more transparent and open access to information, Exizent is building the first-ever platform that…
Read more