Credit, Collections & Insolvency News
The Money Charity has released statistics which show that it would now take 30 years to save for a deposit for a home. Releasing their latest Money Statistics the report finds that historically low saving rates and negligible returns on deposits make home ownership an ever more distant dream for many. If someone on the average…
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Online research from Equifax has revealed that a significant portion of social media users risk identity theft by giving fraudsters easy access to personal information. The online survey conducted by YouGov found that almost one-third (30%) of British adults with a social media account include their full name and date of birth on their profile…
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With the implementation date just over a year away, there is still a lot of conjecture surrounding the impending General Data Protection Regulation (GDPR), particularly around its appropriateness and applicability once the UK leaves the EU. One thing that is clear, however, is that now is the time for any firm handling personal data to…
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Oakam has enhanced its mobile app with the launch of Oakam Grow, a new feature that uses gamification to make consumer finance more engaging, rewarding and inclusive. Oakam Grow builds on the UK-based consumer lender’s application of behavioural science to encourage the development of positive credit habits, and supports its strategy to bring digital disruption to the largely analogue micro-credit…
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More than three million people have been frozen out of credit in the past 12 months, despite mainstream lenders promising to increase access, according to new research. Almost one in five people who applied for credit in the last 12 months – either a credit card, personal loan or mortgage – had their applications refused,…
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The proportion of first-time buyers relying on inherited wealth or loans from the ‘bank of mum and dad’ has reached a historic high and the trend looks set to continue, new research by the Social Mobility Commission has revealed. The Commission warns that the increasing trend will have damaging consequences for social mobility as young people on…
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More than three million people have been frozen out of credit in the past 12 months, despite mainstream lenders promising to increase access, according to new research. Almost one in five people who applied for credit in the last 12 months – either a credit card, personal loan or mortgage – had their applications refused,…
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Callcredit Information Group has announced the appointment of three new global market development leaders. Eamonn Tierney, the Group’s current Managing Director, Credit Solutions, will move to head up a consolidated UK business development team. Rick Biggs, the Group’s current Managing Director, Software, Analytics & Fraud, will become the head for the Group’s International Markets. A new head…
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Equifax has been granted full Financial Conduct Authority (FCA) authorisation. The FCA approval comes at a pivotal time for credit reference agencies (CRAs), with technological advances and shifts in customer behaviour fuelling important developments in data sharing, evidenced by industry initiatives such as Commercial Credit Data Sharing (CCDS) and the Open Banking Standard. Patricio Remon, President…
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Experian has announced that it has achieved full Financial Conduct Authority (FCA) authorisation Charles Butterworth, Managing Director at Experian said ” The process has allowed Experian to stress-test our risk management structures and the plans we have in place to ensure fair outcomes for our customers. We have always looked to implement effective resolutions for people, to…
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Provenir has announced a partnership with Bisnode. The collaboration paves the way for innovative, real-time risk decisioning services for European businesses. In search of growth and cost efficiency, companies in Europe seek solutions to optimise their credit risk processes. Agile solutions that can respond quickly to rapid and on-going business and regulatory changes are vital. Bisnode…
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Callcredit Information Group has announced that it has achieved full Financial Conduct Authority (FCA) authorisation. The authorisation process involved the Group companies demonstrating they had in place robust business plans, risk management frameworks, and had adequate systems and processes in place to support fair consumer outcomes. In addition, the companies were required to propose a number…
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A five year study from Experian has revealed new insight into the financial attitudes and behaviours of people across Britain. The Financial Strategy Segments (FSS) tool identifies four key financial trends seen in the UK today, looking at how we spend, save and borrow, both now and in the future. Tax on Inertia Experian research…
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