Credit, Collections & Insolvency News
Business process outsourcing specialist Target Group and digital engagement specialist Telrock have announced a collections solutions partnership agreement. As part of its broader business process outsourcing and transformation services, Target Group provides cost-effective and compliant outsourced collections services to a number of UK banks, utility companies and other credit providers. With growing demand for solutions…
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Data specialist TDX Group has announced two new appointments, James Connolly joins as UK Business Development Director and Paul Eddie as UK Sales Director. James Connolly will lead TDX Group’s asset sale services. With over 20 years of industry experience, Connolly will focus on the collections and recoveries lifecycle across lending, retail, water and debt…
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Credit reference agency, Experian has announced that it can now offer Open Banking and PSD2 (Payment Services Directive 2) services to enable the exchange of bank account information between people and organisations. The FCA has given it permission to operate as an Account Information Services Provider (AISP). The accreditation allows Experian to help people and…
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Anti-money laundering (AML) specialist SmartSearch has launched a fully integrated app which allows AML checks to be carried out remotely. SmartAML is able to electronically verify all documents remotely, with the same capabilities as the full SmartSearch verification platform. This means users can carry out instant AML checks when they are in a client’s home or…
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The popularity of contactless payments, online shopping and smartphones is having a significant effect on how we manage our money and pay for things, leading to debit cards overtaking cash as the most frequently used payment method in the UK, according to the latest research from UK Finance. The latest UK Payment Markets report shows…
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Latest statistic by Recruitment specialist Morgan McKinley suggests that GDPR has created a huge amount of job opportunities for technology and legal experts. Hakan Enver, Managing Director, Morgan McKinley Financial Services. “Hiring in technology, compliance and legal departments was astronomical. The new rules have meant huge changes for companies in the way that data is…
Read moreThe Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, has confirmed the full programme for this year’s UK Credit and Collections Conference (UKCCC), including a keynote address by Romana Pearson, Head of Consumer Credit at the Financial Conduct Authority (FCA). The conference is divided into morning and afternoon…
Read moreFico and Equifax have announced that they have launched a new risk and affordability decision Suite, which uses advanced predictive analytics to assess a consumer’s repayment risk as well as their ability to afford new credit. The partnership was announced at the Money20/20 Europe conference in Amsterdam. The Risk and Affordability Decision Suite is designed…
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A new Open Banking Expo is set to be launched which aims to bring together a cross-section of the UK’s brightest minds to put the second payment services directive (PSD2) under the spotlight and encourage financial services – and other industry sectors – to embrace the new legislation in order to drive product innovation and…
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Over two-thirds (70%) of consumers think the use of bots programmed to respond like agents is acceptable in customer service, according to a new report titled ‘Customer engagement – the road to 2020’, commissioned by West’s Unified Communications Services. This shows that consumers are happy to move to digital from voice if it is convenient,…
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UK Finance has published a new report in association with EY which indicates that today’s social media savvy consumer taking advantage of more banking webchat services than ever before. The Way We Bank Now report, reveals that the popularity of services such as Twitter, Facebook Messenger and WhatsApp, is encouraging banks to invest in similarly fast and…
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The speed and scale of digital transformation within the financial services industry is contributing to the emergence of new non-financial risks, according to a new report Sustainable Financial Services in the Digital Age, a joint report from UK Finance and Parker Fitzgerald, comes only days ahead of the introduction of the General Data Privacy Regulation (GDPR) and…
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HSBC has created the first live use case of open banking for credit applications using the InterConnect platform from Equifax. The solution will facilitate quick affordability assessments by allowing individuals to submit their bank transaction information electronically, in less than five minutes, during an application for credit. Each submission is presented directly to HSBC UK…
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