Credit, Collections & Insolvency News
Consumer credit technology and outsourced services provider, Equiniti Credit Services (EQCS), has announced that it has been chosen by Cardiff-based bank, Hodge, to create a flexible digital mortgage servicing solution. This latest client win is significant for EQCS and marks its move into the mortgage market for the first time. EQCS is working with Hodge…
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Money-saving app Snoop has launched ahead of schedule in an effort to help consumers hit by the impact of COVID-19 cut costs. The app, founded and led by former Virgin Money boss Jayne-Anne Gadhia, uses open banking technology to connect to a customer’s bank account and credit cards and analyse the data to identify areas…
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Morses Club, a provider of non-standard financial services, has announced the launch of a fully remote lending product within its Home Collected Credit (HCC) division. The new offering, which has been developed in-house, is available to all existing Morses Club HCC customers and is fully compliant with all regulatory requirements. All necessary checks and agreements…
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Debt solution specialist, Flexys has announced the launch of a COVID-19 hardship evaluation tool. Flexys says that with 900,000 people applying for universal credit in the space of two weeks and thousands more on furlough or reduced hours, many lenders have experienced up to a tenfold increase in customers contacting their collections and customer service…
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Qualco has announced the appointment of Terry Franklin, as its new Global Business Development Director. Based in UK, Franklin will be responsible for all global business development activities providing strong commercial, sales and consultative leadership to Qualco’s regional Sales Ambassadors thus ensuring the delivery of near-term client needs as well as the longer-term business and…
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New research from TransUnion has revealed that the gap between traditional high street banks and digital challengers is rapidly closing. According to TransUnion’s latest Consumer Credit 2020 report, digital-only banks are only 3% behind their high street counterparts when it comes to consumer intent for current account applications. 10% of consumers said they plan on…
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Three partnerships between community lenders and fintechs have secured a cash prize of £200,000 each for developing innovative solutions that make credit more accessible and affordable, particularly for the most vulnerable. The cash prize is part of a £2 million Affordable Credit Challenge, run by Nesta Challenges in partnership with HM Treasury. The Challenge enables…
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Chartsbridge has announced that it has selected public services software solutions company Civica, to deliver an enterprise cloud solution for its collections services. The agreement will provide Chartsbridge with improved visibility and control across regulated collections, recoveries and enforcement activities. The company says that harnessing the capabilities of the cloud, the platform comprises of five…
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Freedom Finance and Optimum Credit agree on a new identity partnership with Nivo meaning that customers applying for a second charge mortgage can now use Nivo’s secure communications platform to Nivo ID Passport their personal details and biometric identity profile from broker to lender, cutting out days of effort and speeding up approvals. Freedom Finance…
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Anti-money-laundering (AML) firm SmartSearch has moved up more than 300 places in the Financial Times’ (FT) annual list of the fastest-growing European companies. The FT 1000 lists the European companies that have achieved the highest growth rate over 2015–2018. SmartSearch’s placing at 596 compares with its 917th position in last year’s list, on the back…
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Despite political and economic uncertainty, borrowers turned to established and familiar lenders in 2019, according to a new research report launched by Equiniti Credit Services and Credit Kudos. The report titled ‘A Brands’ New Decade: Loyalty on loan as consumers consent to data-driven lending services’ has found that although banks remained the lender of choice…
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Southend-on-Sea has knocked Bristol off of top spot for number one location for contactless payments in the UK in 2019. Research from Paymentsense showed that there were 305 million transactions across the whole of 2019. Southend’s population and its touring visitors are well and truly cashless consumers, with a whopping 78% of all transactions being…
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Half of UK workers say they wouldn’t store sensitive personal and commercial information in the cloud because of their concerns over security, according to a new report by Invu. The report says cloud security remains by far the biggest concern for businesses. Data back-up and the recovery of lost data was the second biggest concern,…
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