Credit, Collections & Insolvency News
The winners of the second annual 2018 Credit & Collections Technology Awards have been revealed. There were sixteen winners from the eighteen Awards categories which are covered by four main headings of Credit, Collections, Credit & Collections services and Innovation. The awards ceremony was held at Credit Services Association’s (CSA) annual Gala dinner at the…
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High-cost short-term lender CashEuroNet UK has topped the latest the Financial Ombudsman (FOS) complaints table. Complaints against CashEuroNet UK shot up by more than 200 per cent in the first half of this year – more than double the rate that drove rival Wonga into administration. But the data, from the Financial Ombudsman Service (FOS), which adjudicates…
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Close Brothers has announced that it is selling its point-of-sale (POS) retail finance business to Swedish consumer lender Klarna, as it decides to focus on secured lending products, which include leasing and motor finance. The acquisition will significantly strengthen Klarna’s position in the UK market for retail financing and will enable accelerated growth and expansion of…
Read moreThe Open Banking Expo has announced the appointment of two fintech heavy-weight speakers for its morning and afternoon keynote sessions. Google’s renowned former managing director is confirmed as the morning keynote, who will offer a unique insight on the future of Open Banking. Now MD, Fintech at Blenheim Chalcot, Dan Cobley has always been ahead…
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The winners of the second annual Credit & Collections Technology Awards were announced last night at the Credit Services Associations’s annual Gala dinner at the Crown Plaza in Stratford-upon-Avon. Eighteen winners from the Awards categories which are covered by four main headings of Credit, Collections, Credit & Collections services and Innovation were revealed. Stay tuned…
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The UK’s younger generations have increased the amount of debt they owe over the last five years according to analysis within Arrow Global’s consumer research report(Table 1). Significant numbers of millennials also don’t know how much interest they are paying (Table 3), according to the 2018 Debt Britain research from Arrow Global. The findings reveal…
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UK Finance has published its mortgage trends update for July. The figures reveal that: There were 46,900 new homeowner remortgages completed in the month, some 23.1 per cent more than in the same month a year earlier. The £8.7bn of remortgaging in the month was 26.1 per cent more year-on-year. There were 32,600 new homemover mortgages…
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New research by price comparison website MoneySuperMarket has revealed that although over a third of consumers (39 per cent) use contactless technology to make payments, the vast majority are concerned about introducing alternative payment methods, such as fingerprint or facial recognition, into their day-to-day spending. Despite advances in technology in the banking sector and the…
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The latest mortgage Lenders and administrators statistics from Quarter 2 have been released by the Bank of England which is highlighted by a rise in mortgage activity. The outstanding value of all residential loans continued to increase in 2018 Q2 to £1,417.2 billion, 3.8% higher than a year ago (Q2 2017). Compared to the second…
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Last month proved to be a record-breaking one for New Payment System Operator (NPSO) subsidiary, Bacs Payment Schemes (Bacs), the organisation behind Direct Debit and Bacs Direct Credit in the UK. Across August, a huge 580 million payments were processed, smashing the existing record of 573 million, set in December 2015. A new daily high…
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Lending criteria sourcing provide, Knowledge Bank has announced that is now offering brokers the ability to perform criteria searches within two lending types: Bridging and Commercial. The addition of the new sectors has added over 9,000 individual criteria to the Knowledge Bank system taking the total criteria held by the system to over 70,000. This…
Read moreIntroducing ‘Open Banking’ style measures to the energy market would make it easier for small businesses to switch providers and access cheaper tariffs, according to new proposals by the Federation of Small Businesses (FSB). Open Energy: Using data to create a smarter, cheaper and fairer energy market, commissioned by FSB and produced by Fingleton Associates,…
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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 6% in July, compared with the same month in 2017, while the value of new business increased by 11% over the same period. The POS consumer new car finance market reported new…
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