Credit, Collections & Insolvency News
Just has announced that it has launched a virtual enforcement solution. The new virtual enforcement solution means collection will be performed by qualified and trained enforcement staff from the comfort of a desk rather than in a debtor’s home. Debtors will be able to arrange suitable payment plans and arrange a time and day for…
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Aire, the UK’s fourth FCA-regulated credit reference agency (CRA), has launched a new insight product to help lenders make sense of the post COVID-19 borrowing landscape. Pulse from Aire helps protect credit providers and consumers from bad debt, and supports fair and FCA-compliant account handling, by enabling lenders to collect up-to-date information from customers about…
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A new business coalition that aims to provide emergency COVID-19 support for the digitally and financially excluded has launched. Good Things Foundation, The Joseph Rowntree Foundation, The APLE Collective, Clean Slate Training & Employment CIC and Mastercard have formed a coalition of partners to offer immediate support to digitally and financially excluded people in the UK,…
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Samsung has announced a new partnership between Samsung Pay, the digital banking platform Curve, one of Europe’s leading fintechs, and Mastercard to launch the Samsung Pay Card. The all-new digital payment solution will offer Samsung customers greater flexibility and control when managing their finances by offering a single view of spend, whilst also enabling a simple…
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UK Finance has said that banks would pay for access to a central open banking resource under proposed next steps to introduce the concept in the UK. Under proposals from the trade body, open banking functions to let people share their spending habits, regular payments and payees with other banks would move into a separate…
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Thought Machine, the cloud native core banking technology firm, has announced it has teamed up with RegTech specialist TruNarrative to provide Atom bank with financial crime prevention and core banking capabilities. This partnership has enabled Atom to use the TruNarrative platform to conduct a full suite of real-time AML transactional monitoring processes built on top…
Read moreA new affordability checking service which uses Open Banking data to enable lenders to make more accurate real-time credit decisions on consumers has been launched. RealCheck, uses bank data to help consumers understand what they can truly afford to borrow, and then access accurate loan rates appropriate to the customers’ circumstances at that time. In…
Read moreIncome and expenditure specialist IE Hub has announced a new partnership with Atom bank. The partnership will mean that Atom bank customers who are struggling with mortgage repayments as a result of COVID-19 can now request additional help and support beyond their 3-month payment holiday. IE Hub’s solution allows customers to easily share I&E information…
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TransUnion has launched the latest evolution of its end-to-end, API-driven Open Banking solution, designed to assess income and expenditure, affordability and creditworthiness. New developments are wide-ranging, with improved analytics capabilities and a streamlined screen journey which includes anti-money laundering (AML) checks. These checks must be conducted as part of the Open Banking process, and are…
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New research by Onguard has found that only 7% of finance professionals think that their organisation is already data-driven. Onguard’s FinTech Barometer has indicated that data-driven business operations are a multi-year plan for two-thirds of finance professionals (66%). However, only 7% think their own organisation is already data-driven, while 14% think they will achieve this…
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Card and contactless payments continued to increase in 2019, with card payments accounting for over half (51 per cent) of all payments for the first time, according to the latest UK Payment Markets report from UK Finance. Debit cards were the most used payment method in the UK with 17 billion payments, of which 7…
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Fintech business DebtStream has announced that it has partnered with Qualco to power their digital capabilities providing highly personalised and flexible self-service customer journeys within the company’s collections & recoveries platform. DebtStream has said that it aims to transform the collections landscape with their digital self-service solution focused on delivering engaging experiences for customers in…
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Analytics and decision management provider FICO has announced that it has partnered with OpenWrks – provider of Open Banking based digital engagement applications. Under the partnership, FICO plans to combine OpenWrks financial budgeting and conversational AI technology with FICO’s market-leading integrated collections and omni-channel platform to assist creditors in making the most appropriate customer decisions…
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