Credit, Collections & Insolvency News
The shortlist for Credit Connect’s inaugural Credit & Collections Technology Awards 2017 has been announced, with over 50 companies in the running to win the first-ever awards. Credit Connect’s panel of 10 judges has now compiled the shortlist for the sixteen categories. The Technology focused-Awards scheme seeks to champion innovation and best customer outcome solutions. The shortlist highlights…
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Blockchains that transact with one another could replace central authorities such as banks, clearing-houses and lawyers, according to a new ICAEW’s report. Smart contracts that use blockchains could lead to widespread disruption of financial systems, according to the accountancy and finance body. With the ability to directly interact, the technology could save firms the cost…
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Technology specialist Webio has been signed up to take part in specialist google programme. Webio will take part in the Blackbox Connect 20 programme which runs from November 28th to December 8th, and brings founders from top accelerators around the world to take part in a two-week, fully immersive program where they live and work in…
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New research by Callcredit Information Group found that the number of fraud professionals planning to use machine learning to tackle fraud in the next three years has doubled from 11% last year (2016) to 22% in 2017. In comparison, the number planning to deploy document verification to validate customers’ identity reduced by over 75% in…
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Callcredit Information Group and payments service firm ShieldPay have agreed a partnership to provide secure online payments to its Shieldpay’scustomers. ShieldPay´s patent pending technology protects both buyer and seller in any payment by verifying both individuals. Using Callcredit’s ID and bank verification solutions ShieldPay can verify both party’s identity and bank account reducing the chances of…
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How cloud technology can improve collections performance In today’s world, few consumers are immune to the risk of personal debt. The uncertain nature of the global economy is creating a new breed of debtor, in the form of a consumer who has temporarily fallen on hard times, after living their whole lives as reliable bill-payers.…
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Welcom and guarantor loans provider Buddy Loans has announced a partnership with Buddy to use Welcom’s Financier platform. Buddy Loans has recently secured institutional investment to allow it to increase its lending and has also received full FCA authorisation. Launched in 2013, Buddy Loans specialises in loans which give credit to consumers who have been refused loans…
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A research report from Equiniti Credit Services depicts a rising market for credit in the UK, with consumer motivations for borrowing split between funding aspirational items such as holidays and household goods (47%), and managing or consolidating existing debt (53%). The report has also identified a stark age group difference in attitudes to technology with…
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NatWest has become the first bank to launch a paperless mortgage. The bank’s customers can now apply for a completely digital mortgage which uses the latest technology to securely share and verify documents online. The new proposition means customers do not need to post signed paperwork or identification back and forth. This marks the first time…
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HSBC is testing a new smartphone nudge app which will help people track what they spend money on and sends out spending limits alerts. Customers can add different back accounts from up to 21 money sources and keep track of all their balances in one app. The app is being trialled with 10,000 customers and will…
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Financial services software must become easier to use and more useful to customers in the face of the new Revised Payments Services Directive 2 (PSD2) regulation according to financial software firm Copernicus. Allen Jones, Managing Director at financial software experts Copernicus believes that ease of use and practicality are principles that need to be embraced…
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The results of a year-long machine learning trial conducted by Callcredit Information Group point to potentially significant positive benefits in predictive accuracy across a range of established data models. The study looked at a number of different scenarios, ranging from identifying potentially fraudulent applications through to the accuracy of underwriting decisions in predicting a customer’s…
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Equiniti has announced the launch of Equiniti Credit Services. Richard Carter is to lead the new business – supplying digitally enabled loan and mortgage solutions – which combines Equiniti Pancredit, Equiniti Gateway and the newly-acquired Nostrum Group. Equiniti Credit Services builds innovative solutions that are transforming the credit industry, offering a complete outsourced credit management…
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