Credit, Collections & Insolvency News
TSB is set to introduce iris recognition to its mobile banking app – the first bank in Europe to commit to provide the technology – as the Bank’s high-tech transformation gathers pace. Customers with a Samsung Galaxy S8 or S8+ smartphone will be able, from September 2017, to unlock their TSB mobile banking app using…
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UK Finance estimates that gross mortgage lending reached £22.1 billion in June. This is 9% higher than May’s lending total of £20.3 billion, and 3% higher than the £21.5 billion lent in June last year. Gross mortgage lending for the second quarter of 2017 was therefore an estimated £60.3 billion. This is a 3% increase on the…
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The government has announced that card charges will be consigned to history, after Ministers act to end these unfair fees for millions of people across the country.rules that will mean card-charging in Britain – where people can be charged 20% extra for purchases like a flight just for paying with a credit card – will come to…
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Consumers will have greater control over their bank data and financial decisions thanks to new laws coming into force in January. The government is bringing in a new regulatory regime for innovative FinTech firms which will transform the way people engage with their finances and make it possible to manage all of their finances at the…
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There is a market failure in the provision of credit for financially vulnerable people who have to borrow to meet their essential costs, according to a major new report – ‘The high cost of credit’ – by StepChange Debt Charity. Over one million people in the UK are using high-cost credit to cover their everyday…
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UK Finance has released its latest UK Card Expenditure Statistics for May 2017. The statistics include: A third of card payments are now contactless, up to 33 per cent from 18 per cent in May 2016; A total of £4.5 billion was spent via contactless in May 2017, compared to £3.9 billion in April 2017; The…
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Mortgage sales for the UK decreased by £200 million in June, down 1.2% on the previous month, according to Equifax Touchstone analysis of the intermediary marketplace. Buy-to-let figures bucked the general trend, rising by 3.2% (£80 million) to £2.6 billion, while residential sales contracted by 2.0% (£280 million) to £13.9 billion. Overall, mortgage sales for…
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Masthaven Bank has made three new appointments. The bank has appointed John Smith as national account manager, first charge mortgages. Smith previously worked at Platform Home Loans and Aldermore and helped launch Bluestone into the specialist mortgage market. Wes Baker and David Owen have also joined the firm as business development managers. Baker has worked…
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Credit company Provident, responsible for sending nearly one million nuisance texts in six months has been fined £80,000 by the Information Commissioner’s Office (ICO). Provident Personal Credit is based in Bradford, employed third party affiliate companies to send 999,057 unsolicited text messages on its behalf to promote personal loans for its brand Satsuma Loans. This…
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The winners of the UK’s largest consumer-voted awards for the consumer credit industry have been revealed at a ceremony in Mayfair. Over 27,000 consumers voted in this year’s Consumer Credit Awards, sharing their thoughts on 137 firms. Launched in 2016, Birmingham-based not-for-profit Fair For You took home 2 awards, including ‘Best Newcomer’ and ‘Consumer Credit…
Read moreEquifax and Energy Solutions company ENSEK, have formed a joint partnership to support identity verification and credit assessment services for new-to-market energy suppliers. The integration between Equifax and ENSEK will supply real-time consumer and commercial data to energy providers, enabling them to onboard new customers more efficiently as part of an automated process. The insight…
Read moreCallcredit Information Group has announced reported record results, at the same time launching a new brand identity. The Group recorded an 18% increase in gross revenue to £201 million (2015: £170 million). Over the same period, group operating profits outpaced revenues, growing by over 20%. The results confirm Callcredit has very much come of age…
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More than 4 in 10 UK consumers say that they are still negatively impacted by financial mistakes they made in the past, according to research from Aviva. A greater number still say they wish they had managed their finances differently (64%) while 63% wish they had learnt more about financial matters when they were younger.…
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