2025 Credit & Collections Industry Award winners revealed

The winners of the 2025 Credit & Collection Industry Awards have been announced following a live in-person event yesterday (Thursday 22nd May) at the Milner Hotel in York There were eighteen winners (four of which were partnership wins) from the twenty awards categories, which were presented by awards compare’ Brennan Reece. The Credit & Collections…

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Financial services leaders outline growth potential

A new report from PIMFA, UK Finance and KPMG UK has revealed opportunities for how the government can further support the UK’s Private Banking and Wealth Management (PBWM) sector in helping to deliver growth, provided four key barriers can be addressed. This comes at a critical time as the Chancellor prepares her growth and competitiveness strategy…

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Buy Now Pay Later lenders to face same rules as banks

The Government has announced new legislation will see Buy Now Pay Later (BPNL)  lenders fully regulated by the Financial Conduct Authority (FCA), meaning firms will be required to conduct affordability checks on consumers before offering loans. The announcement is backed by brand new reforms as part of the new  Consumer Credit Act. The new regulation…

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Value of secured lending hits £470m

New findings from Pepper Money that that over half (51%) of UK adults are now aware of secured lending as an avenue to raise capital. This figure rises to 54% amongst homeowners who may be considering ways to borrow without interrupting their favourable, primary mortgage rate. The latest data marks a notable rise from previous…

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One in four have less than £250 in their current account

19th May 2025 Consumer Lending | #savings

New research from The Current Account Switch Service has revealed that one in four (24%) UK adults have less than £250 in their current account. The data also shows a decline in those with higher balances in their current accounts, with a 15% decrease of those with over £2,500 since 2021. A vast majority of…

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76% using credit to fund insurance costs

Consumers are increasingly using credit to pay for insurance cover and switching to monthly payments for car and home insurance to manage their bills, new research from Premium Credit shows has found. Premium Credit’s Insurance Index, now in its sixth year, found that 76% of insurance customers use some form of credit to pay for…

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78% of global businesses using AI to combat fraud

19th May 2025 Consumer Lending | #AI#fraud

Global business and technology leaders are already seeing benefits from the use of AI and automation, with over three-quarters (78%) reporting measurable improvements in the ability to detect fraud and manage risk after their organisation’s integration of the technology, according to research by FIS in collaboration with Oxford Economics. To combat this disharmony, businesses across…

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One in ten have no cash savings

16th May 2025 Consumer Lending | #savings

Latest Financial Conduct Authority (FCA research has found that one in ten people lack any cash savings, raising concerns about their ability to manage emergency expenses. The data showed that 21% have less than £1,000 to draw on in an emergency. The regulator’s research also shows that one in four people in the UK have…

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One in three don’t have a rainy day fund

16th May 2025 Consumer Lending |

More than one in three people (36%) do not have a rainy day fund, according to new research from Compare the Market. This includes more than half (52%) of Gen Z, or people aged between 16 to 28. A rainy day fund is money that you have saved to cover unexpected financial emergencies, such as…

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Mortgage and rent spending growth slows in April

Latest Barclays property insight data has shown that rent and mortgage spending increased 5.2 per cent year-on-year in April, down slightly from 5.4 per cent in March, as many lenders reduced mortgage rates. Confidence in household finances remained consistent month-on-month at 70 per cent, while many UK homeowners are taking prudent steps to decrease their…

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Bank of Mum and Dad risks deepening inequalities in the housing market

New analysis from UK Finance has warned that increasing reliance on family support from the Bank of Mum and Dad risks deepening inequalities in the housing market, highlighting the impact of family financial support in the first-time buyer (FTB) market. Nationally, first-time buyers who receive assistance are able to buy a home at an average…

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Consumer confidence plummets to the lowest levels since the cost of living crisis

Consumer confidence in the future of the UK economy has plummeted to the lowest levels seen since the height of the cost of living crisis due to concerns about global events such as the impact of the US tariffs and war in Ukraine, according to the Which? Consumer Insight Tracker.  According to the tracker, consumer…

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Consumer car finance new business volumes grows by 11%

New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew in March 2025 by 11% compared with the same month in 2024. The corresponding value of new business grew by 18% over the same period. In Q1 2025, new business was 3% higher by volume compared…

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