Credit, Collections & Insolvency News
The latest mortgage lending statistics have been published by the Bank of England. The statistics show that new residential mortgage lending activity decreased in Q4 2017 from the previous quarter. In total, £69.1 billion of new residential loans were advanced to individuals during the quarter. This was a 2.5% decrease compared to the previous quarter,…
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The total value of small claims judgments in Northern Ireland soared last year to the highest levels since 2012, according to figures released today by Registry Trust. There were 8,742 small claims judgments in 2017, 19 percent more than the previous year. The average small claims judgment increased 18 percent to £2,248; combined these increases…
Read moreProvenir has announced the implementation of its risk decisioning and data sciences platform with YapStone, an international Payments-as-a-Service (PaaS) solution provider. To date, YapStone has implemented the Provenir decisioning engine for its Know Your Customer (KYC), Anti Money Laundering (AML), and fraud and risk assessments. Bruce Dragt, EVP of Product at YapStone said “YapStone maintains a…
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UK consumers are starting to cut back on spending as their personal finances are coming under increasing strain, according to new research by GlobalData. GlobalData’s UK consumer survey found that from January 2017 to January 2018, the net difference between respondents agreeing/disagreeing with the statement, ‘I am visiting the shops less often these days because I…
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Irish Credit unions have been accused by the Central Bank of issuing loans without assessing if members are able to repay the borrowings. A new Central Bank report found “a concerning number of governance and operational risks still need to be addressed”. Since 2012, close to 700 on-site engagements took place in credit unions. The…
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UK consumers are being put at risk of fraud because banks are “seriously lagging behind international competitors” when it comes to security according to new research by GBG. The research also finds that UK financial services organisations are failing to invest and not keeping up with digital investment seen in other sectors. While other countries…
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The Financial Conduct Authority (FCA) has today published a discussion paper on transforming culture in financial services which presents views from academics and industry thought leaders. The paper is intended to provide a basis for stimulating further debate on transforming culture in the sector. The paper is a set of essays that discuss what a…
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There were more County Court Judgments (CCJs) against consumers in England and Wales during 2017 than any other year since current records began in 2005, according to figures released today by Registry Trust. In 2017, 1,138,058 judgments were registered against consumers in England and Wales. Rising almost a quarter on 2016, the total number of…
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Experian has announced that it is introducing a new seamless process for loan applications, delivering significant time savings for consumers. The new journey integrates the loan purchase experience into one place, with customers having to enter far fewer details because Experian’s data insights allows it to pre-populate the relevant information. As well as being given a…
Read moreTesco Bank has cancelled some of its customers’ credit cards, after concerns that a number of accounts may have been compromised. The bank said that only a tiny number of its three million credit card users would be affected, and apologised for the inconvenience. A Tesco Bank spokesman said “We take the security of our customers’ accounts…
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The Finance & Leasing Association (FLA), working alongside employers in a Trailblazer group, has launched its Motor Finance Specialist apprenticeship to offer employment and training opportunities to those entering one of the UK’s fastest growing sectors. A new section on the FLA’s website provides all the necessary information that firms will need to get their…
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Irish regulator, The Competition and Consumer Protection Commission (CCPC) has published a detailed report analysing the Personal Contract Plan (PCP) car finance market. Prompted by the growing popularity of this type of finance, the large sums of money involved and the complexity of the agreements, the CCPC began a study of the market in July…
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Fraud prevention service, Cifas, has released new figures showing stark increases in the number young people acting as ‘money mules’ and those falling victim to identity fraud. The data has been released to coincide with the launch of new anti-fraud lessons plans, developed by Cifas, in association with the PSHE Association, the national body for…
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