Credit, Collections & Insolvency News
Secure Trust Bank has become the first UK lender to complete live deployment of credit application models built using Archetype, the proprietary ‘explainable’ AI-driven software of credit scoring from Jaywing. The Archetype software generated a significant uplift in predictive power compared to a traditional linear model and is projected to provide substantial reductions in bad…
Read moreFintech firm PayBreak has announced that it is set to use an automated decisioning platform from LendingMetrics as part of its growth plans. The company, which specialises in digital point-of-sale finance through online retailers, will deploy LendingMetrics’ award-winning ADP to build rules, scorecards and matrices using a variety of data sources so that they can make…
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Birmingham is set to become the ‘Silicon Canal’ of Europe, according to AI firm Sidetrade, who revealed it will open a new tech hub in the city in 2020. Rob Harvey, Sidetrade’s Director of solutions consulting, shared the news at an invite-only trade mission event by the UK Government’s Department for International Trade (DIT), on…
Read moreUsing better technology to drive increased and more productive customer engagement will be key for dealers in 2020, according to motor finance solutions specialist iVendi. James Tew, CEO at iVendi, said that whether customers ultimately opted to choose, finance and buy a car in the showroom or online, their initial interest will almost certainly have…
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The adoption of artificial intelligence (AI), robotic process automation (RPA) and machine learning (ML) is increasing across the finance sector. This is being driven not only by a growing number of use cases but also the significant benefits these technologies offer, for instance, PwC has found that 54% of executives say AI tools have boosted…
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More than half of consumers (57%) would be happy to ditch all of their passwords and pins and replace them with biometric verification, according to new research from Equifax. The research also showed there is still widespread criticism towards current verification practices, with half of responders (50%) having given up on an online registration process…
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LendingMetrics’ clients will soon be able to use WPS Analytics for data processing and advanced predictive analytics. The provider of multi-award winning auto-decisioning platform ADP has partnered with the company behind WPS Analytics – UK-based World Programming – to give users access to a heavyweight suite of data processing and analytics tools. ADP already has…
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Revolut has announced launched Direct Debit services for all European Economic Area (EEA) customers with local UK accounts. Revolut’s latest feature has added to its global financial retail and business platforms. The new functionality will utilise Modulr’s Direct Debits Mandate service. This new feature allows Revolut’s EEA customers with local UK account details to make…
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Anchor Computer Systems has acquired the entire share capital of Databax from the Archibald Bathgate Group (ABG). The deal enables Anchor to build on the services offered by its Managed Services business unit and adds 5 staff, 30 customers and a new office location in Manchester. Anchor can now offer new complementary services such as…
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Credit Connect has announced its inaugural Credit & Collections Technology company power list for 2019. The power list is the first edition of what will be an annual round-up of the most prominent innovating companies within credit and collections technology. Within the list, Credit Connect has identified the top 20 ‘Premier’ innovators highlighting the achievements…
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The board of TSB has published an independent review of the bank’s 2018 migration to a new IT platform, which it commissioned from the law firm, Slaughter and May. The report has identified the issues behind an IT meltdown at TSB which left 1.9 million customers unable to access their accounts and cost the bank…
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Dun & Bradstreet and Quantexa have announced a new partnership that aims to empower businesses to make better, context-driven decisions using innovative data and analytics to provide a detailed picture of connected relationships. Global commercial data & analytics firm Dun & Bradstreet, and Quantexa, the contextual decision intelligence software and solutions company, have joined forces…
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Fintech start-up, Snoop has been granted regulatory approved by the Financial Conduct Authority (FCA). Snoop connects to a customers’ current accounts and credit cards through Open Banking, and using a combination of both artificial intelligence and human intelligence, delivers data-driven, personalised insights to help consumers avoid rip-offs and make the most of their money. As…
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