Credit, Collections & Insolvency News
Individuals who have been tricked into transferring money to a fraudster are set to be entitled to reimbursements under new plans by the Payment Systems Regulator (PSR). The PSR is also calling for the biggest banks to publish their performance data in relation to authorised push payment (APP) scams. The PSR is consulting on proposals…
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The Payments Association (formerly The Emerging Payments Association (EPA)) has announced the release of its latest research, ‘Using AI Intelligently: Smart ways to use Artificial Intelligence in Payments’, showing how artificial intelligence (AI) and machine learning (ML) are being used in the payments, finance and banking sectors and how they may be used in the…
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Almost half (41%) of finance leaders say they are focusing on cloud computing and Software as-a-Service (SaaS) in 2022, as many are still working towards supporting remote teams, a new survey has found. Cybersecurity (31%) was second on the tech wish-list, followed by Big Data analytics (22%) and Artificial Intelligence (13%). The research, commissioned by…
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The equity release market is on course for a record year after customers took out £1.049 billion in property wealth in the three months to the end of September according to data from the UK’s equity release adviser Key. The total value of equity released rose by 18.8% from nearly £884 million in the third…
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New research by Canada Life has found that over a third of parents are gifting money to children. The research found of those who had gifted the top reason for doing so was to support children or grandchildren with general living expenses (21%). Almost two-fifths (18%) said it wasn’t for a specific purpose and they just…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 1% in September 2021 compared with the same month in 2020. In the nine months to September 2021, new business was 13% higher than in the same period in 2020. The credit card and personal loan sectors…
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The winners of the 2021 Credit & Collection Technology Awards have been announced following a live in-person event yesterday (Thursday 4th November) at the Midland Hotel in Manchester. The awards are the flagship event for innovational technological professionals working in credit and collections and the fifth annual event honoured the UK’s technological innovators, celebrating outstanding…
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Consumers using credit to buy their insurance cover are increasing the amount they borrow in response to rising premiums and a growing squeeze on household finances, new research from Premium Credit has shown. The study found that over the past year, nearly seven out of 10 (69%) people used some form of credit to pay…
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Homeowners are set to access more than £4 billion of property wealth this year via equity release for the first time on record according to latest figures from the Equity Release Council. Latest analysis from the Council found that over-55 homeowners unlocked £1.15 billion of property wealth via equity release during Q3 2021, down 2%…
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Credit Connect has confirmed the line-up for next week’s Credit & Collections Technology Awards which takes place at the Midland Hotel in Manchester next Thursday (4th November). The awards are judged by a panel of industry experts who have reviewed technological excellence in four different categories sections: creditor and lender, collections and recoveries, applied technology, and…
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HM Treasury has launched a consultation on possible Buy Now, Pay Later (BNPL) regulation. The consultation is seeking views to inform the scope and nature of the regulation, but the document suggests that some existing regulation can be applied to BNPL. and picks up on all the most important elements that can cause consumer detriment. The…
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Credit Connect’s hosted its second Online Lending Technology Think Tank last week which saw lending strategies and the future of the sector discussed by thirteen leading professionals from a variety of lending sectors. The themes of business transformation, credit risk, affordability and open banking were discussed by panellists and Chair Chris Warburton from ROStrategy The…
Read moreUK households will be over £1,000 worse off next year new research from the Resolution Foundation has found. The research found that household incomes are set to fall by about 2% amid the cost of living squeeze. The UK is set for its biggest ever current-year economic growth upgrade next week as a result of a…
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