Credit, Collections & Insolvency News
As awareness and adoption of Open Banking continue to grow among UK businesses, trust is emerging as the industry’s next major challenge, according to Payit by NatWest’s latest Frictionless Payments research. The findings build on last year’s research, which identified lack of awareness as a key barrier to Open Banking adoption, with 28% of businesses…
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Fico has announced the results of its 2026 State of Responsible AI study, developed in collaboration with Corinium Global Intelligence. Now in its fifth year, the report tracks how organisations are adopting responsible AI practices, the early returns they’re seeing from deployments, and the remaining barriers to fully unlocking the technology’s full potential. This year’s…
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New research from Trustpilot has found that 92% (over nine on ten) of financial services leaders say their organisation has a strategy focused on when and how their brand appears in answers from AI tools like ChatGPT or Google AI Mode (often called an ‘AI visibility strategy’). But nearly half (47%) are not collecting feedback…
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The UK’s Open Banking ecosystem has reached two landmark milestones, with more than one billion Open Banking payments and 100 billion API calls now recorded across the CMA9 banks since the launch of Open Banking more than eight years ago. A defining moment in the evolution of Open Banking in the UK, these milestones demonstrate how the initiative has become an integral part of…
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New analysis from debt advice provider PayPlan, has revealed that Buy Now Pay Later (BNPL) usage among its customers across the UK has increased by 3,793% between 2020 and 2025, highlighting the growing role the credit product is playing in household finances. The findings reveal a significant awareness gap when it comes to the new…
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The Bank of England (the Bank), the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) will start overseeing the first Critical Third Parties (CTPs) on following designation by HM Treasury (HMT). Critical Third Parties (CTPs) are technology and other service providers whose services underpin the UK financial system. The HMT has announced its…
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Fraud rates within Open Banking payments remain below wider UK payments industry benchmarks as adoption of Open Banking continues to grow, according to the first edition of the Open Banking Payments & Fraud Monitor, published today by Open Banking Limited (OBL). Drawing on data from account providers representing more than 60% of Open Banking payment…
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MoneySuperMarket has announced the launch of a new, exclusive eligibility journey, in partnership with Capital One UK, designed to help people with limited credit history get access to credit and build their credit profile. The new journey is available through MoneySuperMarket and is aimed at customers who are currently underserved by the credit card market…
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PayPoint has announced it has completed the acquisition of AperiData, strengthening its capabilities in Open Banking for customers. AperiData is a real-time credit reference agency and Open Banking platform, focused on modernising the consumer credit market through the use of transaction-level data and advanced financial assessment tools. Since first partnering in 2023, PayPoint and AperiData…
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Oakbrook has become the first UK lender to launch a dedicated GPT-powered app within ChatGPT, enabling consumers to explore combining multiple debts into a single structured repayment plan through a conversational interface. Available under OakbrookOne, the app allows users to model what replacing several existing debts with one monthly repayment could look like, without needing to…
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The Government has announced new measures on how it intends to modernise payment services regulation and update it to support innovations in money and payments. The measures include improving the regulation of payment services and electronic money by integrating it with the UK’s core regulatory approach for financial services. This will mean establishing a single,…
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The Financial Conduct Authority (FCA) has initiated a review into the impact of artificial intelligence (AI) on retail financial services. Sheldon Mills, an outgoing FCA executive, will explore how AI could reshape markets and consumer behaviour. While AI may enhance financial management, Mills warned of potential risks, including biased decision-making and increased fraud. AI is…
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The Financial Conduct Authority (FCA) has announced it is working with major firms to test Artificial Intelligence (AI) in a safe place to better understand the potential benefits and risks. The AI Live Testing initiative, the first of its kind in the financial sector, has been set up to help firms that are ready to use…
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