Credit, Collections & Insolvency News
Financial software solutions specialist, Aryza has announced the acquisition of RiskLogix Solutions, a provider of governance, risk, and compliance (GRC) solutions. Aryza says that the integration of RiskLogix Solutions will enable significant synergies through an overlapping customer base. Existing customers of both companies will benefit from an expanded suite of products and services, creating a…
Read more
TransUnion announced the completion of the acquisition of Monevo from Quint Group. Monevo’s platform enables comparison websites and other online brands known as publishers to embed highly personalised credit offers. Steve Chaouki, President, U.S. Markets, TransUnion said “We are delighted to welcome Monevo into the TransUnion family.We anticipate that Monevo’s platform will enhance our portfolio…
Read more
Spring Finance has announced that it has completed the acquisition of Masthaven Finance. The acquisition will mean that the combined entity will trade as Masthaven Finance. Andrew Bloom Founder, majority shareholder and Chief Executive of Masthaven Group and Masthaven Bank from 2005 to 2020, when he sold his controlling stake and stepped down as Chief…
Read more
TransUnion has announced that it has signed a definitive agreement to acquire Monevo, a credit prequalification and distribution platform that empowers lenders and banks to deliver highly personalised credit offers to consumers via comparison websites and other third parties. TransUnion currently owns 30% of the equity of Monevo after acquiring a minority stake in 2021 and…
Read more
ClearScore has announced that it has acquired Aro Finance, pending FCA approval. Clearscore says that the acquisition also brings significant capability in secured lending by adding secured loan brokerage to its core proposition. Serving nearly 24 million users around the world, ClearScore’s proprietary technology platform works by matching users to credit cards, loans and car finance…
Read more
Digital homebuying platform, OneDome, has announced that it has acquired mortgage broker, Coreco Group (subject to FCA approval), for an undisclosed seven figure sum. The current Directors, Andrew Montlake and Julian Ingall, along with the Coreco Management Team, will remain in their roles to spearhead an ambitious growth agenda. Andrew and Julian will also join…
Read more
Credit management firm, Pepper Advantage has announced that its owner Pepper Global has entered into an agreement to sell the business to private investment firm J.C. Flowers & Co subject to regulatory approvals and customary closing conditions. The transaction is expected to be completed in the first quarter of 2025, pending regulatory approvals and other…
Read more
Barclays has announced thatit hassuccessfully completed its £600m acquisition of Tesco Bank following high court approval. The acquired business includes credit cards, unsecured personal loans, deposits and the operating infrastructure which, following completion of the acquisition, will continue to be operated under the ownership and management of Barclays UK. The new partnership will see Barclays…
Read more
Aryza Group has announced it has acquired Axcess Consulting, an Australian headquartered provider of loan management software to blue chip financial services companies across Australia, UK, Ireland, Asia and Canada. Founded in Geelong in 1991, the Axcess platform is a scalable SaaS offering designed to help, non-bank lenders manage loan origination, underwriting, servicing and investment…
Read more
Solaris Law, part of the Azzurro Group, completed the acquisition of Shoosmiths’ business-to-business recoveries division (in England & Wales), formally merging the two teams and moving to modern new offices on the Solent Business Park, Whiteley. The announcement is the first part of a two-part transaction that will ultimately lead to Solaris Law becoming one…
Read more
Natwest Group has announces that it has entered into an agreement with Sainsbury’s Bank to acquire the retail banking assets and liabilities of Sainsbury’s Bank which comprises its outstanding credit card, unsecured personal loan and saving accounts. NatWest Group expects to acquire approximately £2.5 billion of gross customer assets, comprising £1.4 billion of unsecured personal…
Read more
The Competition and Markets Authority (CMA )is investigating the anticipated acquisition by Nationwide Building Society of Virgin Money. Nationwide’s £2.9bn takeover bid for Virgin Money would create the second-largest mortgage lender in the UK. The CMA says its investigation will examine whether the move will result in a substantial lessening of competition within any market…
Read more
Coventry Building Society has agreed to a takeover of the Co-operative Bank for £780 million under the agreement the firms have signed a share purchase agreement under which the building society will acquire the entire issued share capital of Co-operative Bank. The combined group will be led by the mutual’s chairman David Thorburn and…
Read more