Credit, Collections & Insolvency News
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…
Read more
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’.…
Read more
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…
Read more
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…
Read more
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…
Read more
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…
Read more
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…
Read more
Risk and data science specialist Jaywing, has launched Archetype, a new risk technology product that uses Artificial Intelligence (AI), machine learning and deep neural nets to help lenders generate transparent statistical models and predict almost any outcome on almost any data set. Archetype uses true AI to generate more powerful models, significantly reducing the time…
Read more
Consents Online has announced that it has received authorisation from the Financial Conduct Authority (FCA) as a Registered Account Information Service Provider (“AISP”). At the website consents.online, the company provides a single place where consumers can control the information they share with third parties with complete transparency. Initially managing the sharing of bank transaction data…
Read more
Used car buyers are 11 times more likely to enter their personal details into a dealer’s online motor finance facility if it doesn’t leave a footprint on their credit record, new research from iVendi shows. James Tew, CEO, said that offering potential customers the option to make a “soft search” and look at range of…
Read more
Financial services technology provider, Intelligent Environments has announced the appointment of Jeremy Young as Chief Executive Officer. Bringing more than 20 years’ experience in the Financial Services and Software sector, Young will join the company from Fiserv where he was responsible for all sales and marketing activities throughout EMEA. Prior to this, Young served as…
Read moreFerratum has announced that it will be partnering with Thomas Cook Money to introduce its first Banking-as-a-Service (“BaaS”) venture. Ferratum will provide Thomas Cook Money with a fully functional and regulated mobile consumer finance offering powered by Ferratum’s highly successful and innovative mobile banking platform. Customers will experience the world’s first mobile banking app designed…
Read more