Credit, Collections & Insolvency News
The University of the West of England (UWE Bristol) Future Space innovation hub, and fintech company Flexys are using advice from Bristol University’s Personal Finance Research Centre (PFRC) and working with UWE Bristol’s Computer Science and Creative Technologies department to research the way customers in debt can manage their arrears. Guidance from the Financial Conduct Authority…
Read moreUK businesses are missing out on £85 billion each year due to a lack of digital capability, according to the latest Lloyds Bank Business and Charity Index. The report highlights that this issue is particularly acute for sole traders, of which 41% have low digital capability. Despite this, UK business looks set to enter a…
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A new report released by the Building Society Association (BSA) has highlighted, how with the right financial support from parents, this type of lending could grow further, without jeopardising the long-term financial well-being of older generations. Recommendations from Building on the Bank of Mum and Dad, report include: More products and innovation: lenders expanding provision, offering…
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One in five (21%) medium-sized businesses in the UK believe that automation will help them compete with larger rivals, according to research from international payments, treasury management and foreign exchange specialist Centtrip. Seen as both a threat and opportunity, automation – the execution of a task or process without human assistance – is having a…
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Almost half of those working in the financial services sector (47%) are convinced that robotisation will lead to far fewer jobs within the industry in the UK. In addition to the fact that robotisation will have a significant impact on employment, employees also expect that artificial intelligence (36%) and the arrival of big data (36%)…
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A new report by research specialist Gartner says that Digitalisation will make most heritage financial firms irrelevant by 2030. These firms will struggle for relevance as global digital platforms, fintech companies and other nontraditional players gain greater market share, using technology to change the economics and business models of the industry. Speaking at Gartner Symposium/ITxpo 2018 on…
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Latest figures from Worldpay show that contactless transactions have overtaken chip and pin payments for the first time in the UK, as consumers embrace more convenient forms of payment. Contactless usage jumped by 30% in the past year to become the most popular form of card payment for in-store transactions. This trend has continued into the second…
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Arum has announced that is to rebrand the company’s logo and corporate identity have been transformed to reflect this new direction. Now in its 20th year Arum has also said it is updating to its services. Over the past two decades, Arum has been transforming the operations, profitability and customer service of countless clients across…
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Loans management and credit technology company, Equiniti Credit Services, has announced that it has recruited a further 15 software engineers to provide two additional Scrum teams specialising in C#.Net and Java and is actively looking to recruit more. The company is moving into Azure Public Cloud for hosting all aspects of its technical operations, including…
Read moreArum has secured a place on the newly launched Digital Outcomes and Specialists 3 Framework (DOS3), run by Crown Commercial Services (CCS). This framework enables central government and wider public sector to select pre-approved suppliers to tender for projects specifically in the digital space. It is expected to be worth around £1billion over the next…
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UK payments fintech specialist, Modulr, has opened a new office in Edinburgh and says it aims to take advantage of the city’s burgeoning fintech scene and grow its software engineering, customer support, risk and compliance, and finance teams. Modulr recently completed its latest funding round, led by the UK’s leading digital venture builder, Blenheim Chalcot which…
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Alternative business lender, Spotcap has announced Sophie Peacock as the winner of the Fintech Fellowship for 2018. Running for its second consecutive year, the Fellowship awards one UK-based masters or MBA student with a £8k scholarship. By supporting aspiring talent, the initiative aims to plug the fintech skills gap by raising awareness of career opportunities in…
Read moreA new report commissioned by ACCA (the Association of Chartered Certified Accountants), CA ANZ (Chartered Accountants Australia and New Zealand) and KPMG has explored the significant opportunities automation presents for the finance function after results found many CFOs are still uncertain how implementing robotics solutions can be applied to benefit their finance functions. Robotic Process Automation…
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