Credit, Collections & Insolvency News
The Financial Conduct Authority (FCA) has announced that it is seeking views from firms about how its live AI testing service can help them to deploy safe and responsible AI, which will benefit UK consumers and markets. The live testing service would be a new component of the FCA’s AI Lab, which has been supporting…
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The Chancellor of the Exchequer Rachel Reeves has announced that Julia Black, Anita Kimber, John Ball and Stéphane Malrait have been appointed as Non–Executive Directors to the Board of the Financial Conduct Authority (FCA). The Chancellor has also confirmed a one-year extension of Richard Lloyd’s second term as a Non-Executive Director on the FCA Board.…
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Risk decisioning software specialist, Provenir has announced Atom Bank has selected the Provenir AI Decisioning Platform to streamline and modernise credit risk decisioning and data orchestration. Chris Storey, Atom Bank’s Chief Commercial Officer. said “Atom bank provides simple, well-designed mortgages and savings products that deliver ease, speed and value right to your device. As our…
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The Equity Release Council’s latest quarterly market report for Q1 2025 showed that the market had a strong start to the year with £665m worth of housing equity accessed by customers. This is a 32% increase in total lending when compared to Q1 2024 (£504m) and the fourth successive quarter of growth recorded by this…
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Consumer confidence dropped in April to the lowest level in over a year due to concerns over global trade and rising living costs, the GfK consumer confidence index has shown. The reading fell by four points to minus 23 in April, the lowest point since November 2023. Findings showed the reading was brought down by…
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Long-neglected rules governing capital means-testing in Universal Credit (UC) are undermining other Government policies aimed at encouraging lower-income households to accrue savings, according to new research from the Resolution Foundation. The report notes that the current capital thresholds, which have been frozen in cash terms since 2006, mean that a claimant’s UC entitlement is tapered…
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Later life mortgages specialist, LiveMore Mortgages has announced that it has appointed Ian Sturla as its new Risk Lead. Sturla brings more than 16 years of experience in the financial services industry, having held senior positions across lending and risk at businesses such as Lloyds Bank, Coutts and most recently C. Hoare & Co.. For…
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The latest Property Tracker survey from the Building Societies Association (BSA), reveals a decline in consumer confidence in the housing market. Just 17% of people agree now is a good time to buy a property, a decline from 20% just three months ago (Jan 2025). More than double this number didn’t think now was a…
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High net worth women are feeling more anxious about their finances than men, according to new research by Saltus. The insight found that financial pressures are not only increasing, but also that women are feeling the pressures more than men. The data showed that 40% of female respondents said their money makes them anxious, compared to…
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New research by TransUnion has revealed that over the last 12 months, there has been an 8% increase in the proportion of UK consumers who said they have a credit card, yet a third say they don’t know their credit score. The report also found that inflation remains above the Bank of England’s 2% target,…
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New research from Chase has found that two in five adults (39%) use the new tax year as an opportunity to reset and reassess their finances. The data showed that over half (52%) actively use this time to think about where they’re putting their money as their ISA allowance resets. Nearly half (44%) reset their…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in February 2025 by 2% compared with the same month in 2024. The corresponding value of new business grew by 5% over the same period. In the first two months of 2025, new business was 3%…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in February 2025 by 3% compared with the same month in 2024. In the first two months of 2025, new business in this market was 2% higher than in the same period in 2024. The credit card and…
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