Credit, Collections & Insolvency News
Two-thirds (63%) of UK financial services companies now use alternative data to improve decision making according to new research by Oxylabs. The research showed that over a quarter (26%) note their data needs have increased significantly since 2020 with interest in alternative data acquisition has increased almost threefold over the past year. The research revealed…
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Figures from the British Business Bank and Beauhurst show that investment in UK small businesses hit a record high last year, with equity investment up 9% to £8.8bn. SMEs continued to draw investment in Q1 2021, with £4.5bn raised in the first three months of the year. Catherine Lewis La Torre, CEO, British Business Bank,…
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Aspect Software and Noble Systems have merged to create a new company identity. The merger will create a new company brand, Alvaria, that will aim to deliver optimised customer experience and workforce engagement software and cloud services technology solutions. The newly combined company will be led by Patrick Dennis, Aspect President and CEO. Dennis said…
Read moreExperian and Codeweavers have agreed on a new partnership which it says will enable car buyers to get a clearer view of their financing options without affecting their credit score. Dealers and lenders using the Codeweavers platform will now see what lending the customer would be preapproved for – or a percentage likelihood of them…
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Over a quarter (26%) of businesses will not be fully data-driven for another four to five years, according to findings from the latest FinTech Barometer survey of finance professionals, carried out by Visma | Onguard. The company says that the research reflects a move to becoming data-driven being a long-term agenda item for many businesses,…
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A new report has found that a lack of urgency around responsible Artificial Intelligence (AI) use is putting companies at risk. The report by FICO and Corinium found that almost two-thirds (65%) of respondents’ companies can’t explain how specific AI model decisions or predictions are made whilst 73% have struggled to get executive support for…
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The Credit & Collections Technology Awards has confirmed the judging panel for the 2021 event. Launched in 2017, the fifth annual awards seek to recognise excellence in credit and collections technology. The judging panel includes industry association leaders whose expertise includes specialisms from a diversity of different backgrounds, this ranges from consumer and business commercial…
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Vanquis Bank has announced a partnership with SQA Consulting to help combat financial crime. By introducing an Elimination Algorithm, UK credit card provider Vanquis, part of the Provident Financial Group, plans to reduce its manual processes and increase efficiency, whilst saving huge amounts of time previously spent processing false-positive alerts. Following compliance testing and a…
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Legal technology firm Exizent has announced a partnership with Experian to automate the asset discovery process involved in probate. Exizent says that the milestone partnership paves the way for future institution connectivity, with the ultimate goal of making things easier and more efficient for all involved. The company says that the major challenge right now…
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Data-driven technology company Connected Data has announced that it has partnered with global fraud fighter, SEON, to introduce data and techniques successfully used in fraud detection and prevention, to the debt management process. SEON’s approach to fraud prevention involves the aggregation of information in near real-time from over 20 social media platforms – the widest range…
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Paylink Solutions has announced it is one of four companies, alongside PayPlan, OpenWrks and Tully, that intend to merge the debt advice and finTech sector specialists. The company says that the merger will deliver tech-enabled debt advice, financial wellbeing and credit solutions group that can deliver transformative support to customers and clients across the UK.…
Read moreIntelligent Automation (IA) is set to become the latest technology buzzword in the financial sector, with 94% of finance professionals stating they are looking to implement the technology according to new research by Visma | Onguard. The research says that despite this, 50% of finance professionals do not understand the technology or the benefits it…
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Credit Connect’s hosted its first-ever Online Lending Technology Think Tank last week which saw lending strategies and the future of the sector discussed by thirteen leading professionals from a variety of lending sectors. The themes of fraud, open banking, credit risk and the future of lending were discussed by panellists and Chair Chris Warburton from…
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