Credit, Collections & Insolvency News
Decisioning software specialist LendingMetrics is set to launch a new Open Banking service in 2018. The “Open Bank Vision” campaign will launch in early 2018 as a free service. There will be zero setup fees, transaction fees, account fees, or indeed fees of any nature. The company has also emphasised that this is not an introductory offer,…
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Consumer credit provider Express Gifts has agreed a consumer credit agreement partnership with Welcom Digital’s Financier Lending Platform. Express Gifts offers existing and potential new customers access to affordable credit subject to a rigorous underwriting process that assesses the creditworthiness, indebtedness and affordability of each applicant. Critically completed prior to peak-season trading, the data migration phase was the…
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The winners of the inaugural 2017 Credit & Collections Technology Awards have been revealed. There were sixteen winners (three of which were partnership wins) from the sixteen Awards categories which are covered by four main headings of Credit, Collections, Credit & Collections services and Innovation. The Credit & Collections Technology Awards were launched in the Summer and…
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The Financial Conduct Authority has released a new report on illegal money lenders. The report titled “Shining a light on illegal money lending: consumer experiences of unauthorised lending in the UK” highlights the real-life consequences of reducing access to responsible, regulated, short-term credit. In a statement, the FCA said “Last year we conducted research with our…
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Walker Morris has confirmed the appointment Rob Aberdein as a Partner in the Banking Litigation Group business Aberdein will strengthen Walker Morris offering to financial services clients and help to build on the substantial experience for this practice group across the whole of the UK. Aberdein was recently ‘triple ranked’ in The Legal 500 for Debt Recovery and Commercial…
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BDO, liquidators of Irish Charleville Credit Union have put its premises and loan book up for sale, with half a dozen credit unions already eager to acquire the loans. The loan book is said to have a gross value of €14million. However, it is understood that only around €8m worth of loans are performing. Charleville…
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Three directors of Speed-e-Loans.com Limited (SEL) have been disqualified from acting as directors. The Secretary of State for Business, Energy, & Industrial Strategy, accepted disqualification undertakings from Philip Miller for nine years, Robert Alan Davies for six years and Daniel Jonathan Miller for five years – following an investigation by the Insolvency Service. At administration,…
Read moreFollowing an application by the Central Bank of Ireland, the High Court has appointed liquidators to Charleville Credit Union. The Central Bank decided to use its legal power to apply for the winding-up of Charleville having given due consideration to the circumstances detailed in the Resolution Report and Wesley Murphy’s affidavit. These documents detail breaches…
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Elevate UK trading as online lender ‘Sunny’ has announced the appointment of Alan Lunt as its new Finance Director. Lunt brings over a decade of leadership experience to the business, with a strong record of growing businesses, improving efficiency, and successfully managing process and change. Prior to joining Elevate UK, Lunt held several leadership roles…
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Here is an overview of The Money Charity’s latest statistics for November 2017: Personal debt in the UK People in the UK owed £1.557 trillion at the end of September 2017. This is up from £1.505 trillion at the end of September 2016 – an extra £1,030.47 per UK adult. Per adult in the UK…
Read moreThe Financial Conduct Authority (FCA) has published its ‘FCA Mission – Our Future Approach to Consumers’. When the FCA launched its mission, it committed to publishing a series of documents that would explain its approach to regulation in more depth. The FCA’s Approach to Consumers is the first in this series, and explores the approach…
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The Financial Ombudsman Service (FOS) has published its latest quarterly complaints figures. The data includes the number of enquiries and complaints passed to an ombudsman for a final decision, and the proportion of complaints resolved in favour of consumers. The data for the second quarter showed that new complaints received during July, August and September 2017.…
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The impact of the cost of childcare on a family’s finances has been revealed in a new report, with childcare costs overtaking the cost of mortgage payments. The cost of childcare, has, in some cases, seen some parent turn to payday loans as a quick fix. As part of a UK-wide investigation, Admiral Loans researched…
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