Credit, Collections & Insolvency News
Consumer credit technology specialist EQ Credit Services will offer mortgage services as an end-to-end loan servicing platform, to banks, building societies and other specialist mortgage providers as part of its new launch called EQ Mortgage Services. The service will see clients move to its API-led platform – EQ Borrowbox – and supported by a team…
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Ikano Bank has announced that it has appointed Jaywing to review its new credit decisioning architecture to support its ongoing growth, which will enable it to launch new products across multiple territories. Through this engagement, Ikano Bank’s internal team will benefit from Jaywing’s impartial guidance and years of risk expertise to validate its choice of…
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Lender, Fair Finance. has announced that it has implemented automated decisioning technology with LendingMetrics. Fair Finance specialises in providing loans to those excluded from mainstream lending, has switched from a completely manual underwriting process to one using LendingMetrics’ award-winning automated Auto Decision Platform (ADP). David Wylie, Director of LendingMetrics, said “Fair Finance was keen to…
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Contact strategy solution company CCS has announced the launch of a new multi-channel, intelligent two-way messaging platform. The company have launched a new service called ‘Omni-Reach’ which will run alongside its ‘Mail Master’ product. The service is designed to give the user multiple ways in which they can reach out, engage and converse with customers. …
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Jaywing has completed its work with Starling Bank to deliver an IFRS 9 modelling framework for the calculation of IFRS 9 Expected Credit Losses on the Coronavirus Business Interruption Loan portfolio. Following the appointment in June, Jaywing has built a data-driven model with flexibility, pragmatism and expert judgement to facilitate the provision of government-backed loans…
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Specialist mortgage lender, Vida has announced a new partnership with Zoot to develop a digitally focused mortgage journey built around intermediaries. Vida will work with Zoot to build a new end-to-end mortgage platform that brings together key parts of the mortgage journey. The partnership, which is a significant part of Vida’s £5 million investment in…
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Non-standard financial services, provider Morses Club has announced that Shelby Finance, the Group’s Digital Division, has entered into a new supplier relationship with digital payments provider Modulr Finance. The relationship relates to the Digital Division’s U Account business, which provides e-money accounts, and replaces the Company’s existing relationship with Wirecard Card Solutions. Modulr’s platform will…
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Digital payment solutions provider, PayPoint has launched a new collection tool for the motor finance sector. Named PayByLink, the platform allows lenders to engage with customers on a personal level, sensitively and responsibly, collecting due or arrears payments with care. With the majority of finance companies granting payment freezes to customers, PayByLink gives lenders an…
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The Financial Wellness Group has launched a new app to make it even easier for its IVA and DMP customers to manage their financial wellbeing using their mobile device. The new app, which is free for customers to download and use, is available for Apple and Android devices. The app will become a vital way…
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Consumer credit technology and outsourced services provide, .EQ Credit Services (EQCS) has announced it has delivered a flexible loan management solution for direct online lender, MYJAR. Lender, MYJAR helps customers facing temporary financial shortfalls, offering loans from £100 to £2,000, repayable over three, six or twelve months. EQCS worked with the lender to quickly replace…
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Equifax has highlighted key discussions on how the COVID-19 pandemic has brought fair and responsible debt collection into sharp focus, and the challenges of managing financial vulnerability following its webinar last month. Hosted by Richard Haymes, Director of Consumer Advocacy, Strategy and Market Development at Indesser, the webinar featured expert insights and analysis from across…
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Cerebreon has launched a new automated affordability tool, enabling insolvency practitioner and debt management firms to complete fully compliant I&E reports in less than 5 minutes. The company says that it uses pioneering machine learning technology to automate I&E production and reporting processes for insolvency practitioner firms. Gillian Doyle, CEO Cerebreon said “Cerebreon’s digital Income…
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The rapid adoption of new digital skills and technology by small and medium-sized businesses (SMBs) during lockdown could lead to an additional £4.1 billion in UK GDP1 each year over the long-term, according to new analysis developed by financial management software provider Intuit QuickBooks and Oxford Economics. The findings come three months after The Digital…
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