Credit, Collections & Insolvency News
New research from more 2 life, the innovative equity release lender, shows that the size of the retirement lending market in the UK is set to rise from £65bn in 2017 to more than £142bn in 2027 – an increase of over 120%. The research predicts that total debt among the over-65s will pass the…
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Experian has combined its flagship decision management platform with its market-proven collections product Tallyman to offer a cost-effective, compliant and customer-focused approach. PowerCurve Collections will unlock the full potential of data and analytics, allowing companies to make decisions based on the needs and situations of individual customers. “Every contact with a customer is an opportunity to strengthen the…
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New market and regulatory forces are having a major impact on the UK debt collections sector. The industry is going through a transitionary phase and as a result, businesses are having to shift their operational focus and adapt their business models. One of the biggest changes has been in the nature of the regulatory environment.…
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MortgageGym.com, the world’s only regulated mortgage robo-adviser, will be launched in the UK in the coming months. The service will allow UK homebuyers to complete their mortgage application online in 15 minutes through a free, online portal combining robo- and live-broker advice. Mortgage Gym empowers brokers to acquire customers independently, operate a paperless business and…
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Equifax, has launched a bespoke Document Verifier solution to provide faster identity authentication for financial product applications using facial recognition. The solution can verify whether an applicant is genuine in a matter of seconds by comparing a live image of the applicant with a photograph of their passport or driving licence, both taken on a…
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New research from Equifax, shows that 56% of people online would prefer to use a biometric security method over traditional options like passwords to log into their financial accounts online. The online survey, conducted by YouGov, found that a third (33%) of people would prefer to use fingerprint recognition as a security method to access their…
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Target Group has signed a deal to supply its Bluechip Web Portal to Bridging Finance Solutions (BFS), the short-term property finance provider. To further improve processing efficiencies BFS panel solicitors will have access to their allocated cases via the portal and will be able to upload documentation and leave case notes, which updates the Bluechip…
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London fintech startup TransferWise has teamed up with UK-based, digital-only Starling Bank in a partnership aimed at providing easier and cheaper international money transfers. Launching in the UK this summer, the service will enable customers to make transfers from the UK across the 35 currencies available in the TransferWise app, including the euro, US dollars,…
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The UK Card Payments Association has releases the latest card expenditure statistics for January 2017. Highlights include: Payment card spending in January 2017 was £57.1 billion, up by £0.5 billion (0.8 per cent) on December pending was up by £5 billion year on year The number of purchases reached a new monthly record of 1.3 billion…
Read moreThe Financial Conduct Authority (FCA) and the Money and Mental Health Policy Institute have teamed up to set financial and technology firms an ambitious mental health challenge. The charity and the financial regulator are bringing together some of the UK’s biggest banks and new start-ups to compete in a mental health ‘TechSprint’ hosted by PwC;…
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Provenir has announced a partnership with Bisnode. The collaboration paves the way for innovative, real-time risk decisioning services for European businesses. In search of growth and cost efficiency, companies in Europe seek solutions to optimise their credit risk processes. Agile solutions that can respond quickly to rapid and on-going business and regulatory changes are vital. Bisnode…
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Jaywing has announced a new partnership with West Bromwich Building Society to develop IFRS 9 and stress testing models as part of an integrated modelling programme that will underpin all regulatory modelling requirements.. One of the biggest challenges faced by lenders today is implementing a solution to IFRS 9 requirements that is proportionate to the…
Read moreStarling Bank, has signed a four year contract with Callcredit Information Group for decisioning and customer management solutions. The DecisionStrategy platform, the solution will provide multi-bureau credit decisioning and identity verification capability, helping Starling Bank to make informed decisions on an individual and quickly on-board customers with confidence. Callcredit will also be helping the app only bank,…
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