Credit, Collections & Insolvency News
Digital retailer and financial services provider The Very Group, has announced that it has extended its embedded marketplace partnership with Freedom Finance for a further three years. Through its proprietary lending technology, Freedom Finance will provide The Very Group’s 4.4 million customers with access to unsecured personal loans. Using soft search technology and advanced matching,…
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The Financial Conduct Authority (FCA) has announced that it. has appointed Therese Chambers and Steve Smart as joint Executive Directors of Enforcement and Market Oversight. The expansion of the FCA’s enforcement and market oversight leadership team, following Mark Steward’s departure. The FCA say that the appointments will support the FCA’s ongoing transformation to become a more…
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Sub-prime lender Amigo Loans is to be liquidated after months of trying to come up with a rescue plan ended in failure. The company said Amigo said it would stop lending with immediate effect and will be placed into an orderly wind-down, with all surplus assets transferred to the creditors of its compensation scheme. Those owed compensation…
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A new credit decisioning tool, Fuse by Pave, has launched which claims it can offer lenders 97% accuracy in affordability tests, clearer insights into consumer affordability, reduced rate of defaulted loans, and improvements to borrower outcomes. In addition to improved accuracy in affordability testing, which uses Open Banking technology it also offers lenders personalised insights…
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Bluestone Group announced that it has agreed terms for the sale of its UK mortgage lending and portfolio servicing operations to Shawbrook Group for an undisclosed sum. Under the terms of the transaction, Bluestone’s holding company will sell 100% of the shares and its subsidiaries to Shawbrook in a cash and share transaction. The transaction…
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Experian has announced a new partnership with The Access Group that will allow even more UK employees to digitally share their payroll information to get better access to financial products and services. Through Experian’s Work Report™1, the UK’s first digital employment and income verification service, employees who are paid using Access Group’s payroll software will…
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Specialist lender Together has announced the appointment of Chloe Cotgrave to the position of Personal Finance Chief Operating Officer. Cotgrave’s remit will be overseeing all operational areas for Together’s personal finance customers, including the underwriting, customer service and collections departments, as well as first line assurance and customer experience. She joined Together six years ago,…
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Tandem Bank has announced its partnership with money-saving fintech Snoop. The collaboration will provide Snoop customers with access to Tandem’s savings product offering, including the innovative and newly launched Top Up Instant Access account, as part of Snoop’s product comparison services. Snoop is a customer-focused business that uses payments data to provide data-driven, personalised insights…
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EQ Credit Services, EQ RiskFactor and EQ KYC Solutions have announced that they are to merge into a single entity under a new leadership team. The merger will create a new brand called Lenvi. The new leadership team will be spearheaded by Richard Carter, founder of Nostrum Group which was acquired in 2017, and…
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Freedom Finance has announced that it has renewed its partnership with the Centre for Social Justice (CSJ) until 2025. The extended relationship will see Freedom Finance support, among other issues, the CSJ’s work investigating the relationship between access to credit, illegal lending and debt advice. Freedom Finance’s Chairperson, Brian Brodie, already sits on the Advisory…
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Risk and data science consultancy, Jaywing, has announced that it has. promoted Carl Ireland to Head of Regulatory Risk. Ireland’s new role will see him supporting firms through impending regulatory changes, including model risk management, IRB, consumer duty, climate risk, and Basel 3.1. With over 15 years’ experience as a consultant for Jaywing and the…
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Global information and insights company TransUnion has officially been named among the UK’s Best Workplaces for Wellbeing. Awarded by Great Place to Work, a global authority on workplace culture, the recognition is based on colleague feedback, and assesses individuals’ experiences of wellbeing at work, taking a holistic view on how the company supports work-life balance, sense…
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Zopa has announced that it is set to acquire buy now pay later (BNPL) specialist DivideBuy. Dividebuy provides point-of-sale (POS) finance technology and lending platforms. The transaction, which will complete in the next few months, marks Zopa’s first acquisition and follows just weeks after the digital lender raised a £75 million to fund acquisitions. DivideBuy…
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