Credit, Collections & Insolvency News
The Financial Conduct Authority (FCA) has published its ‘FCA Mission – Our Future Approach to Consumers’. When the FCA launched its mission, it committed to publishing a series of documents that would explain its approach to regulation in more depth. The FCA’s Approach to Consumers is the first in this series, and explores the approach…
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New research, conducted by specialist business consultancyCtrl-Shift, and Callcredit suggests that Open Banking will expose banks to new competition, by forcing traditional banks to open their API (Application programming interface) to third parties. This will give competitors access to banks’ enormous data collections. According to the research, banks have underused this data, due to their complex…
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MotoNovo Finance has started a recruitment drive for more than 200 roles. The roles include dealer development, customer care, collections, marketing, and credit analytics as well as department heads and senior leadership positions. The recruitment drive supports MotoNovo Finance’s continued expansion in existing and new areas such as the forthcoming launch of its findandfundmycar.com sales…
Read moreFollowing on from the Bank of England Monetary Policy Committee news that is has voted to increase interest rates by 0.25% to 0.5% – the first rate rise since 2007. The credit and collections industry has responded to the rate change. Joanna Elson OBE, Chief Executive of the Money Advice Trust, the charity that runs…
Read moreHouseholds on variable rate mortgages with the lowest levels of disposable income are at risk of sinking further into debt if interest rates increase by 0.25 per cent devt advise specilaist PayPlan has warned . Even a modest rise could have a ‘devastating’ impact on millions of Brits, especially those with a poor credit rating…
Read moreThe Credit Services Association (CSA) has urged members to start preparing for the government’s decision to ban additional charges for certain future card payments. From 13 January next year, businesses, including CSA Members, will no longer be able to charge surcharges for certain card transactions, but will still face the costs for processing card payments.…
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Callcredit Information Group and payments service firm ShieldPay have agreed a partnership to provide secure online payments to its Shieldpay’scustomers. ShieldPay´s patent pending technology protects both buyer and seller in any payment by verifying both individuals. Using Callcredit’s ID and bank verification solutions ShieldPay can verify both party’s identity and bank account reducing the chances of…
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Research by MotoNovo Finance has found that 89% of Consumers are positive ‘Promotors’ of the dealer Finance The findings have been generated by an independently managed customer monitoring programme run on behalf of MotoNovo Finance, assessing feedback from consumers financing their vehicle with the business. The latest quarterly update to the end of September shows that…
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Financial software specialist Sword Apak have appointed Kris Turner to head up their global expansion sales efforts, where sales momentum has seen the business expand across the USA, Europe and Australasia over the last three years. Commenting on the appointment, Sword Apak’s Vice President of Global Sales Jeff Bunch notes; “The capabilities of our technology are…
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The Bank of England consumer credit statistics shows that consumer borrowing has risen by 9.9% in the year to September 2017, now totalling £204 billion. Other highlights from the report include: The annual growth rate of consumer credit has remained broadly unchanged since June, at around 10%. The flow was £1.6 billion in September, also…
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Ahead of the Bank of England interest rate decision this Thursday (2 November) research from Equifax, the consumer and business insights expert, reveals 42% of Brits are worried about an interest rate rise. The online survey, conducted by YouGov, found that only 5% of people expect a rate hike within the next month, with 21%…
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Latest figures released by the Bank of England suggest that high levels of consumer credit will ‘increase scrutiny’ on household debt. The Bank of England has published its latest monthly Money and Credit report showing continued growth in consumer credit of 9.9 percent in the year to September. Outstanding balances for consumer credit now stand at…
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Over half of consumers in the UK say they feel under pressure to cut back on their spending at the moment, according to the latest Lloyds Bank Spending Power Report. In an Ipsos MORI survey of over 2,000 bank account holders in the UK, almost two-thirds (63%) of people expressed concern about current levels of…
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