Credit, Collections & Insolvency News
UK SMEs say that economic uncertainty (45%), ongoing digitalisation efforts (41%) and increased competition (37%) are the three biggest challenges facing their organisation in the next two years, according to new research from Robert Half UK. SMEs require strong leadership to navigate this period of change in the next two years, but a significant proportion believe…
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International technology-led services and payments specialist, Equiniti Group, has announced the opening of a new office in Milwaukee, Wisconsin. The investment is expected to bring 180 jobs to Milwaukee’s Parkland Place northwest side. Parkland Place will provide further scale and service capabilities in support of Equiniti’s 670 US clients, extending the existing Centres of Excellence…
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Challenger bank Monzo has announced that it has launched a new feature that lets customers switch energy supplier in minutes, from the Monzo app. Monzo says the new app feature will give customers a quick, convenient way to get a good deal on their energy, and avoid paying more than they need to. People can…
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Webchat, SMS and social media messaging are popular ways for customers to contact brands – but new research by Ultracomms reveals how consumers feel about contact centres and confirms they still want to pick up the phone when they have a problem. The contact centre specialist surveyed 1,000 consumers on their experience of interacting with…
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Fintech firm Evergreen Finance London has announced that it has purchased a new service from data analytics provider FICO to speed up its decision process around customers’ credit. Evergreen Finance, which trades as Moneyboat and offers short term FCA-regulated loans, will use the bespoke FICO Decision Modeler to assess risk and the affordability of its…
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The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, has launched a new event website for its award-winning annual conference, the UK Credit and Collections Conference (UKCCC), to be held on Thursday 12th September 2019. For the first time in the event’s history, the website will offer a…
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NatWest has become the first UK bank to use biometric payment approval for all business payments. The new biometric payment approval feature allows business and commercial banking customers to make payments of any size through their Bankline Mobile app using Face ID or Touch ID, without the need for a card reader – a UK…
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Nationwide Building Society has selected seven fintech companies to take part in its Open Banking for Good challenge. The fintech firms will develop Open Banking based apps and services to help financially vulnerable people. The seven companies have been chosen from more than 50 applicants. Those selected into each of the three categories are: Income…
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Advanced Collection Systems’ (ACS) collaboration with the University of Hertfordshire is trialling the use of artificial intelligence (AI) based virtual agent that can take on a real-time customer facing role in debt recovery and autonomously negotiate debt repayment. The trial has led to the design of an ‘Adaptive Virtual Agent (AVA)’ through the KTP, four…
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Credit risk specialist Jaywing has announced a new engagement to develop an IFRS 9 model monitoring solution to mortgage provider, CHL Mortgages. Jaywing’s IFRS 9 model monitoring will cover a range of CHL’s residential and Buy-to-Let (BTL) products. Jaywing began work on the project by providing independent model validation to CHL. It has now also…
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A petition demanding government action against High Street lenders has been started by the director of UK credit reference agency LendingMetrics. The petition – lodged this week, alleges that some clearing banks are systematically discriminating against start-ups by refusing to open business current accounts for them. Signatories claim there is a growing number of non-mainstream…
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Virgin Money recently worked with data science expert, Jaywing, to deploy Artificial Intelligence (AI) tests through the use of its AI product, Archetype in its credit card business. AI modelling enables Virgin Money to gain a deeper understanding of its customers, so that it can further improve the customer experience and enhance risk modelling. AI…
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Trade Ledger, an open banking platform for business credit automation & Nimbla, the pioneering trade credit insurance platform have announced a new partnership to streamline trade finance & insurance processes for banks and lenders. The partnership will be the first time two Banking-as-a-Service (BaaS) platform providers have come together in the corporate lending sector but…
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