Credit, Collections & Insolvency News
Consumers say banks should track their personal data to help them avoid debt problems according to a new report published by the Money and Mental Health Policy Institute, supported by Barclays. It explores how banks and building societies could monitor customer data to spot signs that people are at risk of falling into debt, such…
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Open Banking Expo has announced a new partnership with Nationwide Building Society’s Open Banking for Good challenge and The Money Charity. At its flagship London event, Open Banking Expo will reveal the progress of Nationwide’s fintech partners who are creating apps to help solve financial capability problems, and donate a percentage of ticket sales to…
Read moreEquiniti Credit Services has announced that it has partnered with credit bureau and Account Information Service Provider (AISP), Credit Kudos. The partnership will enable Equiniti Credit Services to leverage Credit Kudos’ open banking APIs to deepen the credit affordability assessments that secured and unsecured lenders can perform via its platform, helping them to provide customers…
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Skipton Building Society and Experian have announced a new partnership with the aim to save mortgage applicants from the hassle of gathering their paper bank statements by adopting Open Banking technology. The new agreement will mean that people applying for a mortgage will have the option of giving consent for Skipton to securely view their…
Read moreThe current lending market has seen the emergence of software developments that help to streamline processes for loan origination and credit assessment. Increasingly, shifting consumer expectations and technology-led changes in the industry have taken financial institutions to be increasingly aware of the need to update their practices and make way for innovation, that can help…
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The 2019 Open Banking Expo will be held on Wednesday, 13th November 2019 at etc. venues near St Paul’s Cathedral in London. More than 400 senior executives are expected to attend. The Open Banking Expo brings together the innovators, disruptors and visionaries who will shape the future of Open Banking. Leaders and experts from financial…
Read moreChallenger credit bureau Credit Kudos has announced the releases of their newest credit risk scoring metric, the ‘Liquidity Score’. Using Open Banking data, the newly introduced Liquidity Score predicts how liquid an individual will be in the future, i.e. the likelihood an individual will remain above £0 or above their unarranged overdraft across all bank…
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New figures released by the Finance & Leasing Association (FLA) show that point of sale (POS) consumer car finance new business volumes grew by 5% in July, compared with the same month in 2018, while the value of new business increased by 6% over the same period. The POS consumer new car finance market reported…
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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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