Credit, Collections & Insolvency News
Credit risk analytics specialist Jaywing has announced a new agreement with Everyday Loans, which will use Jaywing’s Horizon software to develop IFRS 9 models and enable the delivery of all regulatory outputs. Gaining rapid compliance with the IFRS 9 regulations is a key focus for Everyday Loans, which recognises the need to comply without wanting…
Read moreChallenge: Create a decision engine platform Background: Since 2002 as an online and branch lender Street UK ‘The Affordable Finance Company’ has provided affordable finance for everyday living and pride themselves on being an ethical loans company. At an APR of 201% (equivalent to 0.22% per day, FCA Price Cap is 0.8% per day) and with…
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Griffins has selected Encompass verify to software support them in their Know Your Customer (KYC) compliance. Griffins, specialises in providing insolvency, litigation and forensic services return to creditors through asset recovery. Encompass supports compliance with international Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulations by empowering their front line staff to meet the evolving regulatory requirements of…
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Challenge: Risk Solutions Background: At the start of 2014, Nationwide’s Customer Services and Operations (CS&O) team launched a review of its risk management and control systems. Its aim was to create a more holistic view of risk, by taking in more granular information, which may potentially have been slipping under the radar. The team found…
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FinTech and regulatory services businessEquiniti Group have announced the acquisition of the Nostrum Group. Nostrum is a provider of end-to-end loan management technology that helps banks, finance companies, and retail brands provide innovative credit solutions to their customers. They deliver services that support the whole lifecycle of lenders’ operations from front-end lead generation and application processing…
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Digital change is radically altering consumer expectations in the mortgage market and “raising the bar for what borrowers expect from their home buying and owning experience,” according to research published today by the Council of Mortage Lendrs (CML). Launched at the CML Mortgage Tech UK conference in London, the research Digital Change and Mortgage Borrowers says that technology…
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Callcredit Information Group has acquired the Spanish Confirma group of companies, comprising Confirma Sistemas and Soluciones Confirma, which specialise in fraud prevention and anti-money laundering (AML) software solutions. The acquisition, sees Callcredit take a majority shareholding in the Madrid- headquartered business. Callcredit entered the Spanish market in 2015 and has been developing its business and…
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The price of an undelivered email Mobile payments, online banking and apps mean customers increasingly interact with banks and credit card companies through digital platforms. However, the boom in offering customer convenience is not without challenges. Poor back-office IT to support these systems is putting many banks at financial and reputational risk. Tens of millions…
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Noble Systems, has announced that a partnership with Account Technologies, has seen an impressive growth of their contact centre with the Enterprise Cloud platform. Account Technologies were able to unify their solution to ensure streamlining of the management reporting and to offer a simplified improved desktop for their agents to help improve productivity and the agent…
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The UK Cards Association has released its latest car expenditure statistics for March 2017 Highlights from the statistics include: Payment card spending in March 2017 was £57.8 billion, up by £335 million (0.6 per cent) on February Contactless payments amounted to 32 per cent of card purchases, an increase from 15 per cent a year…
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Less than half (49%) of consumers regularly change their passwords as a way to prevent fraud, according to research from Callcredit Information Group. Yet, the majority (66%) perceive the risk of identity theft and online fraud as one of their biggest concerns around sharing personal information online. The research, commissioned by Callcredit Information Group as…
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Specialist debt collection agency (DCA) ARC Europe has achieved the Government-backed Cyber Essentials certification following a further upgrade of its internal IT infrastructure and the introduction of an enhanced firewall. The Cyber Essentials scheme accredits those businesses that display significant levels of cyber security and who have correctly implemented five key controls that prevent up to…
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Target Group, Twenty7Tec and Smart Money have launched a new broker portal aimed at reducing processing times. Smartmoneysourcing.co.uk aims to deliver end-to-end secured loan origination and packaging solution. Smart Money commissioned Target Group to deliver a new web portal solution for its introducing partners to provide access to a wide range of loan products. Target’s…
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