Credit, Collections & Insolvency News
Credit risk and Artificial Intelligence (AI) specialist, Jaywing, has announced the results of an exploratory piece of work undertaken for Newcastle Building Society, to increase the effectiveness of its risk application models using Jaywing’s AI-based product, Archetype. Newcastle Building Society recently undertook some enhancements of its customer risk scores and wanted to understand whether applying…
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Consumer Credit Solutions (CCS) has purchased a controlling share in finance technology specialists Castlefields (Abbeystoke Ltd). CCS is a facilitator of point-of-sale finance to the home improvement industry and has enjoyed a close working relationship with Castlefields for over 15 years. In that time CCS has been instrumental in assisting Castlefields to enhance both the…
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Scottish startup HubSolv has rebranded its automated client portal for the insolvency industry, formerly known as Ibby, under the new name HubSolv Messenger, to strengthen the identity of its fintech products. The rebrand follows HubSolv’s expansion as the firm works on a new product for a wider market that will leverage the branding originally designed…
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LendingMetrics has unveiled a range of upgrades to its award-winning automated decisioning platform. The data analytics specialist’s ADPv2 gives lenders faster response times and the ability to better fine-tune their lending decisions. The latest version of the low-cost Open Banking-ready technology is being rolled out this week to users across the UK and internationally. David…
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A new study by UHY Hacker Young has found that 11% of all global patents for blockchain technology were filed by UK businesses last year – ranking them fourth in the world – with 34 patents from a total of 305 filed with the World Intellectual Property Organisation (WIPO) in 2017. No other country in…
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Three-quarters (74%) of businesses in the UK surveyed by Centtrip, the international payments, treasury management and foreign-exchange specialist, believe they will benefit from Open Banking within two years. Introduced in January 2018, Open Banking was designed to give customers and companies control of their financial data, enabling them to view it in one place. It…
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Data from the winners and finalists of the second annual Credit & Collections Technology have been collated and are now available as part of a report reviewing the 2018 event. The Awards report highlights the unique and transparent ethos of the scheme by providing graphs, statistics and judges comments which highlight the results. The Awards event,…
Read moreCredit Fintech provider TotallyMoney has agreed £29 million of funding from Elliott Advisors (UK) and existing investors Scottish Equity Partners (SEP). The investment, which is subject to FCA approval, will be used to accelerate customer acquisition, build out the market leading technology platform and, through continued innovation, provide better credit for UK consumers. TotallyMoney has accelerated quickly, at a time…
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Shieldpay has announced that it has agreed a partnership with Visa to deliver secure card payments across peer to peer marketplaces and classified ad sites. The partnership will open up the use of debit and credit cards to the £120bn classified industry.1 Shieldpay’s instant digital escrow solution mitigates the risk of fraud by verifying the…
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Equifax has announced that it will launch anintegrated portfolio of data, analytics and visualisation tools. The product named ‘Equifax Ignite’ enables companies to understand and take advantage of data to innovate and inform their business decisions and strategy. John Power, Chief Data & Analytics Officer for Europe at Equifax, said “Equifax Ignite will redefine businesses’…
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Jaywing won the 2018 Credit & Collections Technology Award for Technology Team of the year. This review takes a look at Jaywing’s work and the criteria its team met to win the award. Category Title: Technology Team of the YearAward winner: JaywingTitle of winning projects/initiative: Product development team, ArchetypeKey team members: Martin Benson, Martin Smith,…
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Equifax believes that Open Banking will play a key role in Fintech development in 2019. Jake Ranson, Banking & Financial Institutions Expert and CMO at Equifax UK, believes consumers will begin experiencing the full benefits of Open Banking in the year ahead. “January 2019 marks the first anniversary of Open Banking, and we can expect…
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Barclays mobile banking customers can now choose to block their ability to spend with certain types of retailer, in a move designed to help vulnerable customers struggling with addictions. The move is designed to help customers take more control of their finances. The new feature could help those dealing with gambling problems, for example, to…
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