Credit, Collections & Insolvency News
Starling Bank, has signed a four year contract with Callcredit Information Group for decisioning and customer management solutions. The DecisionStrategy platform, the solution will provide multi-bureau credit decisioning and identity verification capability, helping Starling Bank to make informed decisions on an individual and quickly on-board customers with confidence. Callcredit will also be helping the app only bank,…
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Creditfix is calling for an increase in funding for money advice services, following a reduction in spending of 15 per cent since 2014-15. A recent report by the Improvement Service shows that only 17 per cent of over-debted individuals in Scotland are currently accessing debt advice services, and funding for money advice services has reduced by 15 per…
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Research from Equifax has revealed that 90% of Brits have not heard of the Open Banking initiative, with 45% of respondents then going on to say that they are not likely to use Open Banking when it becomes available. When asked about sharing personal data through Open Banking, 60% said they would not consent to…
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Here is an overview of The Money Charity’s latest statistics for January 2017: Personal debt in the UK People in the UK owed £1.512 trillion at the end of November 2016. This is up from £1.460 trillion at the end of November 2015 – an extra £1017.04 per UK adult. Based on November 2016 trends,…
Read moreThe Money Charity has released it’s latest monthly statistics with it’s research revealing that each Briton is spending, on average, £1001 a year on debt interest repayments, 3.79% of average earnings. That is more than £50 billion at an annual rate – the lowest figure seen since 2003. Debt might have grown to a record 12…
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Creditfix, has revealed the top 20 postcodes with the highest percentage of people living in debt and currently undertaking an IVA/PTD. Individuals living in Motherwell, Kilmarnock and Glasgow top the list, closely followed by South East London and Plymouth.According to new nationwide data from Creditfix, the top 20 postcode areas across England, Scotland, Wales and…
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New figures released today by the Finance & Leasing Association (FLA) show growth of 9% in consumer finance new business in November, compared with the same month in 2015. Credit card and personal loan new business together grew by 10% compared with November 2015, while retail store and online credit new business increased by 3%…
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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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