Credit, Collections & Insolvency News
Despite the launch of Open Banking in 2018, new research suggests consumers need more education on the subject, with nearly 58% of people not knowing what Open Banking is. Whilst the new regime went live in January, new research by YouGov, surveying 4,458 British adults on behalf of the challenger bank, CYBG, provides a stark…
Read moreOne in two UK consumers would be happy to share transaction data with third parties if offered a more personalised service according to new research. One in three would be happy to use banking services from technology companies, because of the personalisation they offer. UK Banks that missed last month’s Open Banking deadline are facing…
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The Financial Conduct Authority (FCA) has announced that it has as launched a consultation on how technology can improve and facilitate regulatory compliance. The FCA regularly explores how technology can make our regulations more efficient and reduce the regulatory burden on firms. One of the ways we do this is through ‘TechSprints’ that bring together…
Read moreOmnichannel contact centre technology specialist Noble Systems has announced the dates of its 2018 Select Noble Users Group (SNUG) Conference series. The conferences help Noble’s users “get connected” to their Noble products and collaborate with other users, so they can work faster and smarter, lower costs and optimise results. Noble Systems hosts the SNUG Conferences…
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Credit Kudos and Lending Works have announced a partnership that creates one of the first commercial applications of the new Open Banking standard. Credit bureau Credit Kudos and Lending Works, peer-to-peer (P2P) lending platform, are partnering to enable customers to benefit from the UK’s Open Banking initiative, a secure way for banking customers to take…
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Open Banking is now a reality and its set to revolutionise the credit industry, especially credit assessment. Access to such data will facilitate better affordability checks and will help identify fraudulent applications as well as potential customers who are already in financial difficulty. But the sheer volume and granularity of the data is exciting and…
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Aire, which provides an alternative way for lenders to understand and score credit applicants, today announces that it is launching an evaluation with Toyota Financial Services (TFS) for its Artificial Intelligence (AI) platform. The collaboration is designed to prove the effectiveness of Aire’s technology to assess the financial situation of TFS customers within ‘customer delinquency’.…
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European collections specialist, Intrum is organizing a hackathon in partnership with Tieto which will seek to examine how innovation can help to improve individual consumer’s financial well-being. Over the course of the two-day hackathon event in Helsinki, Finland on April 11-12 this year, participants from education institutions, startups, SMEs and other organisations will create new…
Read moreOfwat has announced that it will seek to channel innovation in the water sector with a new digital campaign aimed at encouraging water companies to fully embrace innovation and the opportunities it brings. Going live on 6 February, Ofwat’s digital channel – titled Spark! – will run two programmes a week over a four week…
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Four out of five finance professionals have said that their department is not keeping pace with the rest of the organisation’s digital transformation plans, leaving them struggling with productivity, cost and efficiency issues, according to new UK research among senior finance and IT executives. IT which most commonly leads digital transformation said finance was the…
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Cleo, an Artifical Intelligence (AI) money manager has launched a one-click charity giving feature, for online and mobile giving across the UK. Since 2015 the number of people giving monthly has fallen, while the number giving on an ad hoc basis has risen. At the same time, the proportion giving via mobile and online – through…
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Styles & Wood has become a Supplier Member of the Credit Services Association (CSA), the first to join the extended category of membership since it was announced in November last year. Arctick, winner of the Regulatory Technology solution at the 2017 Credit & Collections Technology Awards with its enterprise Governance, Risk and Compliance (GRC) management software…
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Technology specialist Redline has announced a partnership to power an innovative new motor finance product with RAC Flexiloan, launched last week by Shawbrook Bank and the motor services company. RAC Flexiloan allows used car buyers to defer a portion of the borrowing until the end of the term, so typically there’s a lower monthly repayment…
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