Credit, collections & insolvency news
Arrow Global, a European investor and alternative asset manager in credit and real estate, has announced the creation of a dedicated corporate restructuring business to cater to the growing market opportunity in Portugal. The new business builds on Arrow Global’s market-leading experience and capabilities in Portugal through its Whitestar and Norfin servicing and asset management…
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New research by credit insurer, Atradius has highlighted increasing insolvency risks in customer markets within Western Europe. The report has indicated that for Western Europe as a whole, overdue payments amounted to 53% of the total value of invoices, an increase on last year’s 47%. The percentage of write-offs increased from 7% to 10% of…
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A majority of European consumers are increasingly aware of sustainability aspects when shopping – creating new challenges for businesses. Close to half of Europe’s parents say that their interest in sustainability motivates them to limit their spending, and 42 per cent of Gen Z would not feel guilty about paying unethical firms later than agreed.…
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European countries with stable and developed economies are leading in terms of consumer and business lending according to researchby Robocash. The complete digitalisation of the financing process becomes one of the most important advantages of Peer 2 Peer (P2P) loans compared to traditional banks. Germany leads in consumer lending among other European countries due to…
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British SMEs are starting to feel more confident about the performance and resilience of their own businesses, despite challenges in the wider economy, according to the latest quarterly Barclaycard Payments SME Barometer. Over half (54 per cent) of UK SMEs are expecting revenues to increase in Q4, compared with performance in Q3 2021. Yet concerns…
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The cost of living surged by 4.2% in October, the highest rate in almost 10 years, due to rising fuel and energy costs, according to ONS data. Commenting on the figures, Shachar Bialick, CEO and founder of Curve, a financial super-app, said “If Andrew Bailey is uneasy about rising inflation then Brits have every right…
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A study by the Institute for Fiscal Studies (IFS) suggests there is unlikely to be a Christmas spending spree despite consumers having around £150 billion of savings, with much of the money people have saved during the pandemic likely to remain in bank accounts until there is an upturn in the economic outlook. A survey…
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New Investec research has shown that nearly three out of four (73%) corporates and large SMEs are looking to strengthen cash reserves as part of the long-term switch in risk management, so they are in better shape for any future crisis. The change in policy and planning builds on experience during the Coronavirus crisis which…
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New research has found that Klarna now holds over 50% share of the global Buy Now, Pay Later (BNPL) market sector. Data presented by the HelpCenter app has revealed that Klarna is currently the most popular Pay Later technology in the market, offered by 53% of websites on the entire internet, higher than its competitors…
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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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While consumer spending has continued to bounce back post-pandemic, research by Nationwide shows that growth has started to slow. Between July and September growth in consumer spending hit 3%, marking a slowdown following the 14% increase recorded in Q2. The study, which looked at more than 620 million transactions by Nationwide consumers, also revealed that…
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New insight from Lowell’s Vulnerability Index has indiacted a 11% rise in financial vulnerability across the pandemic (Q3 2019 to Q1 2021) The Financial Vulnerability Index, is a joint project between Lowell, one of the largest credit management services companies in Europe, and the Urban Institute, a leading U.S.-based research organization, uses unique Lowell data…
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Link Financial Group has announced the completion of their acquisition of 100% of the shares of Obligo, a Polish credit management company based in Łódź. Obligo has a 20-year track record and deep experience in the industry having serviced more than 400,000 cases with a nominal value exceeding 1.7 billion PLN across performing and non-performing…
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