Credit, Collections & Insolvency News
Law firm, Auxillias has appointed two legal, governance and compliance specialists to its team, strengthening the firm’s offering for clients. Simon Brown has been named as Director of Compliance and Training, while Carrie Stephenson has been appointed to the role of Director of Legal and Governance. Brown will be launching the firm’s compliance offering, working…
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The Finance & Leasing Association (FLA) has announced the appointment of Rebecca McNeil as the new Chair of the Association, with effect from 30 November. She succeeds Richard Jones, who has held this post since 2017. McNeil is currently Chief Executive Officer at Close Brothers Retail and was previously CEO at Close Brothers Motor Finance.…
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TotallyMoney, the free credit score service and personal finance app, has announced that it is to receive additional funds of £9 million raised through existing investors in the UK and the US. The latest investment comes at a time of huge growth in the consumer credit sector. TotallyMoney’s unique focus is on the ‘under-served’ –…
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Following a competitive tender process EQ Credit Services (EQCS), part of Equiniti Group plc, has announced that it has been awarded a five-year contract to handle the equity loan administration and servicing of the Help to Buy scheme on behalf of Homes England. The partnership will require EQ Credit Services to manage the programme on…
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Credit app, TotallyMoney has announced API integration partnership with loan and credit card platform, Lendable. TotallyMoney’s API integration for Lendable’s ‘Level’ credit card will provide greater transparency as customers will be shown the APR they’ll get before application. In addition to this they can find out if they’re pre-approved for the offer, meaning a more…
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Provident Financial Group has said customer demand had picked up to pre-pandemic levels in the three months to the end of September 2021. The business, which has published a trading update, attributes the improvement of customer demand to more favourable macroeconomic conditions. Provident says that in its credit card and personal loans business, expenditure levels…
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Risk analytics consultancy, 4most, has announced that it has partnered with financial services provider, Fair Finance, to deliver a more automated approach to decisioning and improve decision quality by expanding its lending activity. 4most has been working closely with the risk team at Fair Finance to create a series of initiatives designed to improve the…
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Consumer lender, Oplo, has announced the completion of its first securitisation as the business targets continued growth supporting the UK’s ‘new mainstream’ lending market. The £225 million securitisation follows a series of investor roadshows in September. Over the past decade, Oplo has built a strong and growing consumer lending business, offering personal, home and car…
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A rise in customer complaints has forced sub-prime lender Morses Club to lift the amount of money it has set aside to handle demands for compensation from borrowers who used its high-cost loans. Morses said in its half-year results that it had experienced a “continued increase” in demands for redress in the six months to…
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Finance providers are now able to use LendingMetrics’ Auto Decision Platform to call Credit Kudos data for use with assisted decisioning. Providers can now utilise ADP to use the data available to them from Credit Kudos’ suite of products appropriately in their decisioning, such as Open Banking data which includes credit scoring, effectively using financial…
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The Consumer Credit Awards, run by Smart Money People, has revealed its 2021 winners. After 13 weeks of voting and 34 finalists were revealed in a digital announcement on the Consumer Credit Awards Twitter and LinkedIn accounts. The 2021 awards were concluded after a record year for voting, with over 31,000 votes received across 15…
Read moreJPMorgan’s new digital current account has launched in the UK, under its Chase brand. Chase is offering customers 1% cashback on debit card spending for their first year and 5% interest on small change round-ups. The latter will take place when a customer uses their debit card to make a purchase and the amount deducted from…
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Guarantor lender Buddy Loans (Advancis) has entered administration. Shane Crooks, Antony Nygate and Kiri Holland have been appointed as joint administrators of the company. Buddy Loans is a high cost and guarantor lender, which lends money to customers for up to 60 months All existing loan agreements remain in place and will not be affected…
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