Credit, Collections & Insolvency News
A survey of 100 leading global credit experts* has revealed nearly eight out of ten (77%) believe Open Banking will make the market for credit more competitive, with only 6% believing the initiative would make it less competitive. The findings come from the recent Credit Scoring and Credit Control XVI Conference at University of Edinburgh…
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Spending on UK credit cards hit an all-time high in July according to new figures from the trade body for UK banking and financial services UK Finance The figures show credit card spending totalled £12 billion in July – the highest on record, an increase of 8.2% on July 2018. The findings may fuel fears…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell in June by 4%, compared with the same month last year. The retail store and online credit sector reported new business up by 3% in June compared with the same month in 2018, while credit card and personal…
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The amount of people searching for a mortgage who meet the qualifying criteria for every deal on the market is as low as 3.5%, according to new analysis from Experian. One in five (22%) of those using pre-qualification websites to find a mortgage meet the initial qualifying criteria for every lender on the market. But…
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People are embracing a new wave of apps and services to help manage their money or share bank account transaction data to improve access to finance, indicating an increase in demand for open banking according to the latest statistics from Experian. Experian’s Open Data Platform underpinned more than 20 million of the API requests made…
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Online businesses across the retail, travel and hospitality sectors have set the bar high when it comes to delivering a strong digital customer experience. They understand that to win over consumers, those people need to have an amazing experience at every online interaction and touchpoint. In line with consumer demand, the ultimate experience is seamless,…
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The finalists for the third annual Credit & Collections Technology Awards, the UK’s celebration of tech innovators in credit and collections, have been revealed. The Credit & Collections Technology Awards, organised by Credit Connect and hosted at the Credit Services Association’s UK Credit and Collections Conference, brings together credit and collections technology executives to honour the industry’s…
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A record number of entries have been reported for this year’s Credit and Collections Technology Awards, devised by Credit Connect and hosted by the Credit Services Association (CSA), as part of their annual conference and gala dinner. In total, 91 companies have entered the awards in 20 categories which include recognising best-in-class solutions across complex…
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Newcastle Building Society has announced that is set to transform the way it helps customers in financial difficulty by launching a digital debt help service, with integrated Open Banking technology. Newcastle Building Society’s new online facility, which has been developed by Paylink Solutions, will be available to customers of the Society who are facing financial…
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Challenger credit bureau Credit Kudos has announced they are the Open Banking and Credit Risk partner of choice for the car finance broker, CarFinance 247. Credit Kudos is an FCA-Authorised Credit Bureau and AISP that uses financial behaviour to measure creditworthiness, harnessing Open Banking. Credit Kudos will be supporting both CarFinance 247’s lending and broking…
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TransUnion and Let Alliance have announced that they have completed a two-year strategic project that has resulted in redefining the way that tenant referencing works in the UK, with references now returned the same day. Let Alliance has developed the affordability algorithms in partnership with TransUnion and through the knowledge of managing a Rent Guarantee…
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Credit Kudos and Cybertonica have announced a new partnership using their combined platforms to automate credit scoring, harnessing Open Banking. Credit Kudos is an FCA-authorised challenger Credit Bureau and Account Information Service Provider (AISP) that uses financial behaviour to measure creditworthiness. The partnership with Cybertonica, and the use of their new ScreenWiZe™ product will enable…
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A new study across 11 markets commissioned by Mastercard has revealed that six out of seven people use digital banking solutions at least once a month, 38 per cent do so on a weekly or even daily basis. 63% use mobile banking apps from traditional banks and one in five (20%) already from digital-only banks.…
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