Credit, Collections & Insolvency News
Cambridge Building Society has announced that it has appointed Sandhya Kawar as its new Chief Risk Officer and member of the board. Kawar joined Cambridge Building Society in January this year as Lead in the Risk and Compliance department. Kawar also has a BSc from the London School Economics and an MSc from Warwick University,…
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Digital motor retailing and finance specialist, iVendi has made two new appointments. Dale Reed has been named VP Product Management. He has been working in IT for 30 years, starting as a software engineer and specialising in data aggregation and business intelligence before migrating into product management. For the last decade, he was employed by…
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New research from open banking platform, Tink, reveals that over a quarter (28%) of the UK’s self-employed struggle to access the financial services they require, leading many to believe the current system works against them due to their employment status. According to the survey of consumers, a stark 27% of self-employed people feel they have…
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The Bank of England (the Bank), Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) (collectively the supervisory authorities) have set out potential measures to oversee and strengthen the resilience of services provided by critical third parties (CTPs) to the UK financial sector. CTPs provide certain services to regulated financial services firms and financial market…
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A new Chair of the Court of the Bank of England has been appointed by Her Majesty the Queen. David Roberts is expected to take up his role at the Bank in Autumn 2022 and will succeed Sir Bradley Fried who served as Chair from June 2018 to June 2022. The Bank’s Court acts as…
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Legislation to enhance the competitiveness of UK financial services and unlock growth and investment across the UK has been introduced to Parliament The Financial Services and Markets Bill repeals hundreds of pieces of EU retained law to enable a coherent, agile and internationally respected regime that works in the interests of the British people. The…
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The equity release market is heading towards £6 billion new lending this year after a record first half which saw the average customer release just over £100,000 in property wealth, new data from the UK’s leading equity release adviser Key Later Life Finance shows. The figures show that plan sales grew by 24.5% in the…
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Asda and Jaja Finance have announced a partnership to offer a new reward credit card where customers will earn Asda Pounds that they can later spend in Asda stores and online. Shoppers could earn 1% back in Asda Pounds when using the card to buy their groceries, fuel and other Asda services, with and additional…
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The Payment Systems Regulator (PSR) has published its annual report and accounts for 2021/22, setting out how it made a difference over the past financial year. 2021/22 was a year that saw the PSR impose its largest ever fine, boost protections against payment scams for millions making online payments, ensure free to use cash machines…
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TransUnion has appointed Dominic Goslett as Chief Revenue Officer where he will be leading the go-to-market strategy, driving sales and overseeing client relationships. Having held senior leadership roles with TransUnion since 2018, Dominic has been responsible for defining and delivering strategies across a range of sectors, including government, gaming, e-commerce, telecommunications, debt market and utilities.…
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Open Banking adoption is growing, driven by the rapid digitisation of finance according to the data from global information and insights company, TransUnion. The Open Banking data shows that financial institutions have been experiencing the highest volume of Open Banking transactions, caused in part by banking becoming more digitised during the pandemic. Shail Deep, chief…
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Latest Bank of England figures show that people turning to credit cards and loans to cope with the cost of living crisis are being hit by higher interest rates. Average credit card rates hit 21.43% in June, with this an 0.87 percentage point rise on a year ago when the average credit card rate was…
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The latest Bank of England household interest rate figures reveal the cost of borrowing continued to increase in June across consumer credit products following a warning from the Financial Conduct Authority (FCA) for people in financial difficulty. The analysis from Freedom Finance found that average credit card rates jumped to 21.43% and are now approaching…
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