Credit, Collections & Insolvency News
Callcredit Information Group today announces it has extended its partnership contract to provide credit risk, affordability and fraud prevention solutions to specialist lender Cashfloat. As part of the extended partnership Cashfloat will be trialling a number of additional fraud solutions focused on digital channels such as email, phone and device identification. Callcredit has worked with Cashfloat,…
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Equifax has formed a new strategic partnership with Castlight to launch a real-time affordability platform to support brokers and their clients with mortgage applications. The system will reduce the time it takes to make a mortgage application to as little as ten minutes. The new technology will, for the first time, give consumers the option…
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Equifax is launching Equifax Address Check to facilitate lenders in identifying addresses with a suspicious level of account activity. The solution will flag addresses with an unusually high number of financial accounts or that are known fraudulent mail forwarding addresses so that lenders can investigate the circumstances and help protect against fraud and money laundering.…
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Independent research commissioned by London-based bridging lender Market Financial Solutions (MFS) has revealed that 1.3 million of Britain’s high-net-worth individuals (HNWIs) have been denied a loan or any form of credit over the past five years. MFS’s new report ‘Asset Rich, Credit Poor’ surveyed a nationally representative sample of 2,000 UK adults, finding that 17%…
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Research from a YouGov poll has revealed that almost half (49 per cent) of people in Scotland admit to being in debt with many of these feeling the strain, just weeks before Christmas. The poll, which was commissioned by Scotcash and Scotwest Credit Union, revealed almost 1 in 2 (49 per cent) of adults surveyed…
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The latest figures from the Finance & Leasing Association (FLA) show growth of 7% in consumer finance new business in September, compared with the same month last year. In Q3 2016, new business was also up by 7% compared with the same quarter in 2015. Credit card and personal loan new business together grew by 8%…
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Here is an overview of The Money Charity’s latest statistics for November 2016: Personal debt in the UK People in the UK owed £1.503 trillion at the end of September 2016. This is up from £1.451 trillion at the end of September 2015 – an extra £1036.58 per UK adult. Per adult in the UK…
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Personal insolvencies in Scotland have remained largely stable for the second quarter of the year, according to the latest figures from Accountant in Bankruptcy (AiB). Total personal insolvencies, which include both bankruptcies and protected trust deeds, totalled 2,424 for the second quarter of 2016-17 up to 30 September 2016, a small 0.8% increase on the…
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According to the Centre for Retail Research, over 9 million people will pay for Christmas on a credit card. 70% of people admit they haven’t started saving for Christmas, meaning millions of others will have to play catch up with their finances in the short run up to Christmas. The research also found that the average household…
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The latest Financial Fraud Action (FFA) UK report, published today, reveals a 25% year-on-year increase in financial fraud losses for the first half of 2016 to £399.5 million. John Marsden, Head of ID and Fraud at Equifax said “Cyber and ID fraud dominate the fraud landscape, and online scams and attacks continue to rise. E-commerce…
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The Money Charity has released statistics indicating that after years of steady falls, cases of mortgage arrears have risen for the second quarter in a row. According to the Financial Conduct Authority, at the end of Q2 2016 there were 218,279 mortgage loan accounts with arrears of more than 1.5% of the current loan balance. This…
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Aphility has introduced a secure, real time, certified digital bank verification capability by integrating DirectID from the online trust company. The IDCo to enable the verification of business and consumer income and expenditure data from UK Banks. This enhancement will enable customers and partners to undertake faster and more accurate affordability assessments and credit decisions delivering…
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Aire, a credit scoring startup has confirmed authorisation with the Financial Conduct Authority (FCA). The company also announced that it raised a further $2 million in funding earlier this year led by White Star Capital alongside Sunstone Capital and Accion Venture Lab. Co-founder and Chief Executive Officer Aneesh Varma said: “It’s a huge step for us and also for…
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