Credit, Collections & Insolvency News
Younger people’s finances have been hit hardest by the pandemic, and they are increasingly willing to securely share their bank transaction data to get access to financial products that can help them weather the storm, according to the latest findings from Credit Kudos’ Borrowing Index. The research found that Under 35s are three times more…
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Latest Bank of England (BoE) figures show that UK homeowners borrowed a record £11.8 billion more on mortgages than they repaid in March, with market activity driven by the stamp duty holiday and low mortgage rates. Gross mortgage borrowing hit £35.6 billion in March, with buyers looking to tie up property purchases ahead of the…
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Credit Connect’s hosted its first-ever Online Lending Technology Think Tank last week which saw lending strategies and the future of the sector discussed by thirteen leading professionals from a variety of lending sectors. The themes of fraud, open banking, credit risk and the future of lending were discussed by panellists and Chair Chris Warburton from…
Read moreCurve Credit has announced that it has partnered with challenger credit reference agency, Credit Kudos, to strengthen its affordability and risk assessments for its customers. Credit Kudos uses Open Banking to provide lenders with real-time insights into a borrower’s financial situation, and to give a fuller view of an individual’s real-time financial health. Powered by…
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The Lending Technology Think Tank has confirmed its agenda and speaker line-up ahead of the event next Thursday (22nd April). The inaugural Lending Technology Think Tank has been created as an online event platform so that lending and creditor professionals can specifically discuss the role of the technology as we potentially emerge from the pandemic,…
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Despite nearly three million consumers using open banking services and the recent news that HMRC has now adopted Open Banking payments, many businesses are holding back from implementing the technology due to concerns around the cost of storing and protecting customer data, seemingly unaware of the option to partner with established service providers that can…
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Equifax has announced that it has signed an exclusive agreement with consumer fintech and payment card app Curve to deliver comprehensive verification and ID solutions to its new personal finance product, Curve Credit. Powered by Open Banking, Curve Credit allows consumers to ‘Go Back in Time’ and pay later via instalments on transactions made with…
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Credit Connect’s hosted its second Online Collections Technology Think Tank 2.0 last week which saw collections strategies and the impact of the pandemic discussed by fourteen collections professionals from a variety of industry sectors. The themes of business transformation, customer engagement, affordability, and open banking collections were discussed by panellists and Chair Vanessa Northam from StepChange.…
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The Online Collections Technology Think Tank 2.0 has confirmed its agenda and speaker line-up ahead of the event next Thursday (18th March). The second Collections Technology Think Tank has been created as an online event platform so that collections professionals can specifically discuss the role of the technology as we potentially emerge from the pandemic,…
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Benefit calculation specialist entitledto has announced that is piloting Experian’s Open Banking technology to help prospective social housing tenants to access financial support. Claimants often need to produce three months of paper statements to allow social landlords to assess their income and expenditure. It has been particularly challenging and time-consuming during the Covid-19 pandemic when…
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A new digital consumer lender, Fintern, has launched with aim to radically transform the financial well-being of people which the company says goes beyond traditional credit scoring and puts affordability first. Fintern is the first digital consumer lender to use proprietary Artifical Intelligence (AI), Open Banking and transparent affordability testing, replacing outdated credit scores, to…
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UK Finance has published detailed proposals for a new service company that will support the UK’s world-leading open banking infrastructure. Open Banking (OB) provides a secure way for financial information to be shared across different finance providers. It enables services such as account aggregation, meaning customers who have accounts with a number of banks can…
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Here is an overview of The Money Charity’s latest statistics for February 2021 Personal debt in the UK People in the UK owed £1,696.4 billion at the end of December 2020. The average total debt per household, including mortgages, was £60,860 and per adult was £32,014, around 107.5% of average earnings. Net mortgage lending rose by…
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