Credit Risk

Regulators report that most people have ‘reasonable access to cash’

23rd July 2021 Consumer Collections |

The Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) have published an updated assessment of the UK’s access to cash infrastructure, taking into account the impact of coronavirus (Covid-19), alongside new research on consumers who rely on cash. The findings show that most people have reasonable access to cash through a combination of bank, building…

Revolut and Equifax agree data and analytics partnership

22nd July 2021 Company News |

Business and consumer insights specialist Equifax and challenger bank, Revolut have announced a new strategic partnership that provides differentiated data assets and real-time predictive analytics for a faster, more informed view of customers and prospects. With over 100 million monthly transactions and 15 million global users, the Revolut app enables individuals and businesses to exchange,…

Insurers encouraged to re-examine risk models

21st July 2021 Consumer Collections |

Economic uncertainty means that judging credit risk is more complex than ever for insurers according to research by TransUnion. The company’s research shows that nearly half (48%) of UK households have recently experienced a change to income. Most commonly, this was due to being furloughed (14%), experiencing a reduction in salary (11%), losing a job…

Over a third of self employed do not think they will ever be able to purchase a home

20th July 2021 Arrears and Recoveries |

New research from Aldermore bank has revealed that self-employed workers in the UK are pessimistic about their home buying chances, as the pandemic has exacerbated difficulties felt by this group in getting a foot on the housing ladder. The challenges self employed renters are facing in buying their first home has become more pressing as the pandemic experience has energised…

Credit card balances fall by 12%

19th July 2021 Consumer Collections |

Latest UK Finance data has indicated that outstanding balances on credit card accounts had fallen 12% in a year to £53.3 billion, down from 19% a month earlier. The April figures showed that there were 33.9 million credit cards with balances at the end of the month, this was down 7% from April last year…

Banks urged to remember pressures that consumers and businesses face

14th July 2021 Banking and Loans | #featured

The Bank of England’s latest Financial Stability Report which sets out the Financial Policy Committee’s (FPC) agenda has urged banks to remember the pressures consumers and businesses still face despite the rapid rollout of a Covid-19 vaccine. The FPC also said that while businesses and individuals have emerged largely stable from the pandemic, there are…

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