Credit, Collections & Insolvency News
Credit decisioning specialist Zoot, has announced a partnership with credit scorecards specialist Credit Kudos. The combination will enable lenders to easily incorporate account transaction data into their existing risk process, leveraging Credit Kudos’ pre-configured risk models through Zoot’s cloud-based platform integrating data and scoring to create a seamless application process. Adam Jackson, Zoot’s Managing Director…
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The number of cash payments decreased by 11% between 2015 and 2016, but it remains the most frequently used payment method in the UK, according to new data published today by UK Finance. Consumers and businesses made 15.4 billion cash payments in 2016 – down from 17.2 billion in 2015 (a decrease of 11%). However…
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The Central Bank of Ireland has released Ireland’s Credit and Debit Card Statistics for Q2 2017. Here is an overview of the main findings. Debit card Point of Sale (PoS) transactions, at €2.9 billion in June 2017, were 16 per cent higher than the same month in 2016. Credit card PoS spending was 5 per cent higher than…
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Data from Barclaycard has revealed that consumer spending has risen by 3.5%. The data shows that consumers received some respite from a continued drop in petrol prices, which have fallen from an average of 120p per litre at the start of the year to 113p last month. As a result, expenditure on the forecourt increased…
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The UK Finance has released its latest car expenditure statistics for June 2017. Highlights from the statistics include: Total card spending reached £57.1 billion in June, up by 0.3% on May and 7% on June 2016. There were just under 1.4 billion card payments in June, a monthly record and a 12% rise in the…
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Here is an overview of The Money Charity’s latest statistics for August 2017: Personal debt in the UK Total UK personal debt The average total debt per household – including mortgages – was £57,005 in June. The revised figure for May was £56,791 Based on June 2017 trends, the UK’s total interest repayments on personal…
Read moreTandem has announced that it has agreed on a deal to acquire Harrods Bank, subject to regulatory approval. The deal will bring around £80 million of capital into the business. Once the deal has been completed Tandem can accelerate launch plans and start to offer savings accounts as well as continued development of the app and credit card. The…
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Ten years on from the onset of the global credit crunch, millions of people are still enduring financial pain. New research from GoCompare has found that nearly half (46%) of the UK’s population feel worse off now than they did in 2007, with one in four concerned that they would be in serious financial trouble…
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The Financial Conduct Authority (FCA) has published proposals to extend the Senior Managers and Certification Regime (SM&CR) to almost all regulated firms. The new regime will essentially replace the Approved Persons Regime. The aim of the new regime is to reduce harm to consumers and strengthen market integrity by making individuals more accountable for their…
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Provident Financial has announced its Interim results for the six months ended 30 June 2017. Here is an overview of the group highlights from the report: Dividend maintained recognising the group’s medium-term growth opportunities First-half adjusted profit before tax reduced by 22.6% to £115.3m (2016: £148.9m) and adjusted basic earnings per share down by 22.6% to 60.3p…
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The government has announced that card charges will be consigned to history, after Ministers act to end these unfair fees for millions of people across the country.rules that will mean card-charging in Britain – where people can be charged 20% extra for purchases like a flight just for paying with a credit card – will come to…
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Consumers will have greater control over their bank data and financial decisions thanks to new laws coming into force in January. The government is bringing in a new regulatory regime for innovative FinTech firms which will transform the way people engage with their finances and make it possible to manage all of their finances at the…
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UK Finance has released its latest UK Card Expenditure Statistics for May 2017. The statistics include: A third of card payments are now contactless, up to 33 per cent from 18 per cent in May 2016; A total of £4.5 billion was spent via contactless in May 2017, compared to £3.9 billion in April 2017; The…
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