Credit, Collections & Insolvency News
Intelligent decisioning technology provider LendingMetrics has announced a number fo new appointments to ensure high delivery standards as its customer base expands. Ben Smith has joined the company as Account Manager; Kelvin Lee as Support Engineer; Ross Tully as Business Development Manager; and Paulo Bordeira De Brito as Developer. Alongside these changes, Craig Jenkins has…
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Digital identity (ID) verification and fraud prevention, specialist Mitek has announced the acquisition of KYC (know your customer) technology specialist, HooYu. The United Nations (UN) estimates that up to three percent of the world’s GDP – or nearly two trillion dollars – is money laundered annually. The increased regulatory eye, together with the rise in…
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UK digital bank Chetwood Financial (Chetwood) has announced the acquisition of core banking provider Yobota to extend Chetwood’s Banking-as-a-Service (BaaS) capabilities. Founded alongside the bank in 2016 and developed as a separate entity, Yobota is a London-based technology company that has built a fast, flexible, cloud-native core banking platform. The platform allows companies to create and run innovative…
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The Government stake in NatWest has been reduced to 48.1% as an important landmark reached in returning the bank to private ownership. For the first time since the financial crisis, NatWest Group plc (formerly Royal Bank of Scotland Group plc) is no longer under majority public ownership following a £1.2 billion sale of part of…
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Subprime lender, Morses Club, says its Home Collected Credit (HCC) division traded well in the 52-weeks to 26 February 2022, despite an increase in complaints submitted by claims management companies. In its latest trading update, the business said its pre-tax profits will be up to 30% lower than expected. The company stated that its Home…
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Morses Club an established provider of non-standard financial services has announced that pre-tax profits will be up to 30% lower than expected. The company says that its cost base of the Home Consumer Credit (HCC) division has been impacted in recent days by a rapid increase in claim volumes submitted via claims management companies. As…
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Foundation Home Loans, the intermediary-only specialist lender, has announced the appointment of two Managing Directors within the business with George Gee becoming Managing Director (Commercial) and Kelly Pallister as Managing Director (Operations). Gee has been with Foundation for six years in a variety of roles, most recently as Commercial Director. He had previously been with…
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UK financial services companies, Hitachi Capital (UK) is to become Mitsubishi HC Capital UK, trading in the market as Novuna in the UK and as Mitsubishi HC Capital group in Europe. The company, which employs over 1,600 and manages more than £6.3bn of net earning assets for over 1.3 million customers, is now part of…
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High-cost lender TFS Loans has collapsed into administration following claims of ‘unaffordable lending.’ The company was a guarantor lender, requiring a family member or friend to cover repayments if the borrower couldn’t. TFS would lend between £3,000 and £15,000 on a one to five-year term basis at between 30% and 70% interest, with a representative…
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TotallyMoney has announced that it has appointed Rebecca Shears as its new Chief Marketing Officer. Shears holds over 20 years’ experience in national and international marketing roles, working with global consumer brands including T-Mobile, HP and global fintech payments company OFX. More recently she was Global Chief Marketing Officer at BIMA, responsible for growing the…
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TruNarrative, a regtech platform in the financial crime and compliance sector and part of LexisNexis Risk Solutions has been appointed by Suffolk Building Society to enhance its financial crime and fraud prevention processes and digitalise its customer onboarding. With TruNarrative’s real-time financial crime decisioning and risk rating, the mutual will significantly improve the efficiency and…
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Following a comprehensive strategic review, Masthaven Bank has announced that it will be withdrawing from the UK banking market over the next two years. Masthaven, which was founded as a non-bank lender in 2004 and acquired a banking licence in 2016, is now communicating the news of its strategic withdrawal from the market to employees,…
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Global banking, payments and shopping service, Klarna has announced the launch of Klarna Card in the UK, which it says will give consumers with greater control, transparency and choice over how they pay. The new physical card will bring Klarna’s flexible and transparent payments experience to in-store payments anywhere where cards are accepted. The launch…
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