Credit, Collections & Insolvency News
The Financial Conduct Authority (FCA) is looking to scrap a key open banking rule requiring users to reauthenticate access to customer accounts every 90 days. The move will mean that consumers will no longer need to reauthenticate permissions with Account Servicing Payment Service Providers every 90 days if accessing account information through a third-party provider.…
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Credit Connect has announced its annual Credit & Collections Technology company power list for 2021. The third edition of the power list is a round-up of the most prominent innovating companies within credit and collections technology. Credit Connect has identified the top 20 ‘Premier’ innovators highlighting the achievements and successes of the top-performing companies. The…
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Credit Connect’s hosted its inaugural Credit & Collections Technology Think Tank at the beginning of November in Manchester which saw credit and collections strategies and the impact of the pandemic discussed by sixteen professionals from a variety of industry sectors at the Midland Hotel in Manchester. The themes of credit and collections risk, affordability, vulnerability…
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Credit Connect has confirmed the line-up for next week’s Credit & Collections Technology Awards which takes place at the Midland Hotel in Manchester next Thursday (4th November). The awards are judged by a panel of industry experts who have reviewed technological excellence in four different categories sections: creditor and lender, collections and recoveries, applied technology, and…
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The Credit & Collections Technology Think Tank has confirmed its agenda and speaker line-up ahead of the event in-person event at the Midland Hotel in Manchester on Thursday 4th November. The launch of the event follows on from the successful launches of the Online Collections Technology Think Tank and the Online Lending Technology Think Tank…
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Equifax has announced the launch of a new browser-based scorecard monitoring tool that is designed to transform complex scorecard monitoring into a range of accessible visualisations that shows the performance of a scorecard over time. As increasing numbers of organisations build and utilise bespoke scores to optimise decision making, there is an associated overhead to…
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Over half (55%) of UK credit providers plan to implement Open Banking in 2021, with 93% of those businesses expecting to do so in the next 12 months, according to the latest Open Banking Research Report by credit reference agency, Equifax. With the pandemic accelerating consumer adoption of new technologies, and more digital data available…
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Flexys Solutions has to announce First Response Finance as its fourth motor finance client. First Response, part of the Itochu group, will be migrating from their existing Tallyman platform to the Flexys Control+ debt management system as part of an ambitious digital transformation programme. Control+ will provide First Response with end-to-end collections functionality. The platform…
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Data management initiatives in the finance sector, such as data collection, integration, and automation, are being constrained by a severe lack of digital skills and maturity. This is the overall feeling amongst up to two-thirds of technical decision makers, surveyed for a new report from Encompass Corporation. The report, conducted via independent polling agency, Pulse,…
Read moreSME leaders plan to invest £85,000 on average in new digital technologies and systems over the next 12 months, indicating Covid-19 has sparked a longer-term shift to digital among UK businesses, according to new research by Nucleus Commercial Finance. Expected digital spend climbs to £125,000 among younger, more tech-savvy SME leaders (those aged 18-34), compared…
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The Chair of the Open Banking Implementation Entity (OBIE), the body set up to deliver open banking in the UK, has resigned as an investigation found that the agency allowed’“a culture of bullying and intimidation to prevail.” The Competition and Markets Authority (CMA) says Imran Gulamhuseinwala tendered his resignation as trustee and chair as part…
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A new report is urging the Government to take the lead in supporting consumers to recover financially from the pandemic. Innovation Foundation Nesta has commissioned Guaranteeing a Rapid Recovery – a report from the Social Market Foundation (SMF) which sets a series of recommendations for government and innovators to support consumers as they recover from the pandemic. The research…
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New research by European open banking platform Tink has revealed that in spite of growing positivity, the complete implementation of open banking will take financial institutions many years to realise. The survey of 308 executives across 12 countries found that four in ten (40%) believe it will take their institution between 5-10 years to realise…
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