Credit, Collections & Insolvency News
Data analytics company, Nova Credit has announced it raised $45 million in Series C funding. The company says the funding to further broaden its product offering beyond cross-border credit reporting and scale Cash AtlasTM, the industry’s leading solution for cash flow underwriting and verification of income and employment. The expansion enables the company’s partners to grow within risk appetite by incorporating an expanded suite of open…
Read more
Ad-subsidised payments network, Zilch has anew product dedicated to empowering people typically excluded from mainstream credit. The product called Zilch Up provides all the benefits of Zilch’s zero-interest, ad-subsidised borrowing with the ability to improve a credit score, which wasn’t possible before Zilch. With 5 million people in the UK deemed credit invisible, Zilch’s new…
Read more
Metro Bank is launching a fresh cost-cutting drive after the lender clinched a £925 million rescue package from investors over the weekend. The high street lender said it was aiming to slash about £30 million of costs a year from 2025 as part of the deal, which avoided a potential breakup or takeover by a rival…
Read more
AutoProtect Group has announced that it has appointed Peter Carter as Head of Compliance. In leading the Group’s compliance activities, Carter will spearhead the development and implementation of all compliance activities across the Group. These include internal compliance, the leadership of the iComply programme and management of the business’ network of Appointed Representative retailers. Carter…
Read more
TransUnion has announced that it has partnered with London-based fintech company Tymit to help mitigate fraud risks whilst enabling friction-right experiences for consumers applying for Tymit’s pioneering instalment credit card. Tymit offers an alternative to traditional credit cards and buy now, pay later offerings and launched the world’s first instalment credit card. However, the credit…
Read more
The Lending Standards Board (LSB), the primary self-regulatory body for the banking and lending industry, is pleased to announce its membership of the UK Regulators’ Network (UKRN). The LSB says that the partnership will further enhance collaboration among regulators from various sectors, promoting better outcomes for consumers, SMEs, and the economy. The UKRN brings together…
Read more
National brokerage Just Mortgages has announced that it has appointed Wayne Saker as Area Director. Saker has two decades of financial services experience in recruiting and mentoring brokers. He joins from Countrywide, where he first started as a mortgage consultant in 2003. Since then, he has risen through the ranks becoming regional sales manager, financial…
Read more
Short-term property finance provider, Glenhawk has announced that it is set to transition to auto-assisted credit decisioning following its adoption of LendingMetrics’ ADP platform. David Wylie, Commercial Director of LendingMetrics, said “We are delighted to have been chosen by Glenhawk which, after undertaking in-depth research into all the available auto underwriting platforms, decided that ADP…
Read more
UK independent fleet management and mobility services specialist, Fleet Operations has announced that it has appointed Doug Hyett to the newly created role of Commercial Director. Drawing upon more than 20 years of fleet experience Hyett’s new role will look at the commercial development side of the business, attempting to grow its UK customer base,…
Read more
Freedom Finance, has announced it has unveiled a new visual identity, new website, and refreshed positioning with the business will now operate under the name Aro and Aro Mortgages. Since its founding in 2007, Aro has undergone significant growth to establish itself as the UK’s largest lending marketplace and a leading second charge broker. In…
Read more
Andy Piggott has joined John Lewis Finance as Director of Credit and Banking. He will be responsible for the Credit and Banking division, which comprises the John Lewis Partnership Card, point-of-sale-credit (interest free and interest bearing credit), travel money, and investments. Piggott was most recently the Chief Product Officer at TransUnion UK. Prior to this,…
Read more
Chetwood Financial has announced Ian Lonergan as its new Group Chair. Lonergan has worked in financial services for over 30 years. He was previously the CEO and founder of Precise Mortgages, which grew to be one of the largest BTL and residential specialist mortgage lenders in the UK. The parent company of Precise Mortgages and…
Read more
Melton Building Society has announced it has appointed LendingMetrics to deliver next-generation decisioning software. The mutual society, which was founded in 1875, is set to use LendingMetrics’ award-winning Auto Decision Platform (ADP) solution to support its underwriting team in the coming weeks. ADP is a universally-integrated SaaS solution that handles real-time execution of credit reference,…
Read more