Credit, Collections & Insolvency News
Paylink has announced the appointment of Nisha Korpal as its new Chief Executive Officer (CEO). Korpal has over 17 years of extensive experience in the financial services industry, including roles at TDX Group, Equifax, and Experian, Nisha brings a wealth of knowledge and a strong passion for providing solutions that empower customers to achieve better…
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New analysis of 24 million subprime credit applications conducted by Data On Demand in partnership with the University of Salford Business School and Seattle Pacific University has found that young adults and homeowners driving surge in subprime credit, The analysis revealed a significant shift in borrowing patterns, with essential living costs replacing discretionary spending as…
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Latest quarterly figures from UK Finance has found that later life mortgages lending increased 28.2 per cent year on year. The data indicated that there were 35,840 new loans advanced to older borrowers in Quarter 4 (Q4) with the value of this lending was £5.6bn, which was up 38.6 per cent compared with the same…
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AutoProtect Group has announced that it has appointed Mike Edwards as Chief Revenue Officer. Previously Edwards has been responsible for success in strengthening and expanding relationships with distributing retailers. The new role will see Edwards continue these efforts alongside an expanded focus on revenue generation through DigitalPlus, the digital B2B2C channel, which is forecast to…
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HSBC Innovation Banking has provided £30 million in debt financing to fintech Clearscore. Clearscore says that the funding is crucial for Clearscore’s expansion in both domestic and international markets. The capital will also facilitate Clearscore’s acquisition of Arlo Finance, enhancing its secured loan offerings. The financial marketplace now helps over 24 million users improve their…
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New figures released by the Finance & Leasing Association (FLA) show that FLA members across the asset finance, consumer finance and motor finance markets provided a record £154.6 billion of new lending in 2024, 2% higher than in 2023. In 2024 £39.7 billion was provided to businesses for investment in machinery, equipment, and vehicles, including…
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Research published by the Building Societies Association has shown that three-quarters (73%) of UK adults with Cash ISAs are against the Government scrapping or reducing Cash ISAs. Just 8% were supportive, and the others didn’t have an opinion either way. The analysis highlights that the majority of UK savers who currently save in Cash ISAs…
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A new study from Juniper Research has found the number of Open Banking API calls globally will increase 427%, from 137 billion in 2025. The report predicts Artificial Intelligence (AI) will become increasingly integrated with open banking offerings; creating personalised banking solutions for users for finance management and customisable loan allowances, driving the growth of…
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The GfK consumer confidence index has increased by two points to -20 over the month to mid-February, as households said they were becoming more optimistic about their personal finances and the economic outlook. The research found that the better-than-expected findings were driven by the Bank of England’s latest interest rate cut earlier this month. The…
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New research by Compare the Market has found that three in ten borrowers don’t know their credit score. The data also found that only 59% of credit card users are aware of their credit score whilst nearly half (45%) of people with a credit card are not actively trying to improve their credit score. Among…
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Latest Office for National Statistics (ONS data has shown that inflation rose faster than expected in January, up from 2.5 per cent in December to 3 per cent. This is the highest annual rate of inflation since March last year. The increase was driven primarily by increases in the cost of transport, food, and non-alcoholic…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes held steady in December 2024 compared with the same month in 2023. The corresponding value of new business grew by 6% over the same period. In 2024 as a whole, new business was 2% lower by volume…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in December 2024 by 11% compared with the same month in 2023. In 2024 as a whole, new business in this market was 2% higher than in 2023. The credit card and personal loans sectors together reported new…
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