Credit, collections & insolvency news
Vanquis Banking Group has announced that it has acquired fintech firm Snoop for an undisclosed sum. Snoop provides customers with personalised insights using AI and open banking data to manage their finances. The deal will give Snoop access to Vanquis’ 1.7 million customers. Ian McLaughlin, Incoming Chief Executive Officer, Vanquis Banking Group said “Vanquis Banking…
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Wiltshire and Swindon Credit Union have announced that they completed a merger agreement. The Credit Union will now be called Wiltshire and Swindon Credit Union (WASCU) says that the name change will reflect a new focus on encouraging savings and will continue to offer the same high level of service. Wiltshire and Swindon Credit Union…
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Bluestone Group announced that it has agreed terms for the sale of its UK mortgage lending and portfolio servicing operations to Shawbrook Group for an undisclosed sum. Under the terms of the transaction, Bluestone’s holding company will sell 100% of the shares and its subsidiaries to Shawbrook in a cash and share transaction. The transaction…
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Kensington Mortgages the specialist mortgage lender, has announced that it has completed its sale to Barclays Bank. Barclays has acquired the business from funds affiliated with Blackstone Tactical Opportunities and Sixth Street, which jointly owned the business since 2015. The acquisition allows Barclays to become one of the few major banks with a specialist mortgage…
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Zopa has announced that it is set to acquire buy now pay later (BNPL) specialist DivideBuy. Dividebuy provides point-of-sale (POS) finance technology and lending platforms. The transaction, which will complete in the next few months, marks Zopa’s first acquisition and follows just weeks after the digital lender raised a £75 million to fund acquisitions. DivideBuy…
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Barclays has confirmed that it will acquire specialist lender Kensington Mortgage Company in a £2.3 billion deal. Kensington, which has 600 staff and specialises in offering mortgages to the self-employed and borrowers with more complex incomes, is being sold by private equity owners Blackstone and Sixth Street. The company originated around £1.9bn of mortgages in…
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Global payments platform for digital Account-to-Account transactions Trustly, has announced the acquisition of Open Banking Payments platform Ecospend. Ecospend’s strong UK A2A product and full bank connectivity will complement and enable Trustly to further accelerate its UK roll-out – one of Europe’s most rapidly growing A2A regions and a core growth market for Trustly. Four…
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UK digital bank Chetwood Financial (Chetwood) has announced the acquisition of core banking provider Yobota to extend Chetwood’s Banking-as-a-Service (BaaS) capabilities. Founded alongside the bank in 2016 and developed as a separate entity, Yobota is a London-based technology company that has built a fast, flexible, cloud-native core banking platform. The platform allows companies to create and run innovative…
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UK financial services companies, Hitachi Capital (UK) is to become Mitsubishi HC Capital UK, trading in the market as Novuna in the UK and as Mitsubishi HC Capital group in Europe. The company, which employs over 1,600 and manages more than £6.3bn of net earning assets for over 1.3 million customers, is now part of…
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Tandem Bank has announced it is acquiring consumer lender, Oplo with the merger aiming to create a fairer, greener digital bank for UK consumers. The newly combined business will create a leading digital bank with £1.2 billion of total assets supported by £1 billion of funding with more than 171,000 customers. Tandem’s CEO Susie Aliker…
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Secure Trust Bank PLC (STB) has announced that it has agreed to acquire AppToPay, owner of a proprietary technology platform to support STB’s planned entry into the digital Buy Now Pay Later (digital BNPL) market. STB, through its V12 Retail Finance business, is already a provider of point-of-sale retail finance, with a network of more…
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Global insights and information company, TransUnion has announced its investment in UK-based fintech Monevo – a personal credit platform and API empowering lenders to deliver highly personalised credit offers to consumers via comparison websites and other third parties. Eligibility, also known as pre-qualification, is an important part of consumer lending. Pre-approved offers, or an indication…
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