Credit, collections & insolvency news
Aryza has announced it is accelerating its European roll-out through the acquisition of Collenda, a leading DACH and Benelux credit management software provider. Collenda provides an end-to-end integrated credit lifecycle platform for banks, corporates, and debt collection agencies. It covers the entire credit value chain from origination and servicing to collection and recovery. The Collenda…
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Brexit combined with the coronavirus pandemic has created a double-edged sword for businesses with its full-scale impact yet to be realised with Economists from Atradius predicting that insolvencies will rise by 33%. As the UK marks its first anniversary of the Brexit withdrawal, Atradius reports that the true ramifications of Brexit have been overshadowed by…
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Global CEO advisory firm, Teneo has announced the acquisition of KPMG’s Cayman and British Virgin Islands (BVI) restructuring business. KPMG’s Cayman and BVI restructuring business, comprising over 25 professionals, will add specialist expertise in local and international restructuring, insolvency, e-Discovery and forensic technology services to Teneo’s global Financial Advisory offering. The team joining Teneo represents…
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One in four consumers expects to take on additional debt at Christmas, according to Intrum’s annual consumer report conducted in 24 European countries. Although households with families are more likely to take on debt to pay for food and presents than the average consumer, the age group being most likely to do so is Generation…
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A new report by Atradius for Eastern Europe indicates a promising future for businesses that have maintained the status-quo, despite the challenges faced during the second year of the pandemic. Key metrics, including the percentage of write-offs and total volume of overdue Business to Business (B2B) invoices, show little year-on-year change. Write-offs averaged 5% of…
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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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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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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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The UK is set for a significant rise in business failures as firms readjust to life without government Covid-19 pandemic support measures, according to trade credit insurance firm, Euler Hermes. The underwriter forecasts that, compared to pre-Covid levels, UK insolvencies could increase by a total of +32% by the end of 2022, with more than…
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UK business insolvencies are set to rise 33% on pre-pandemic levels, according to new economic research by trade credit insurer Atradius. Contrary to initial expectations, the new Insolvency Forecast reports UK business insolvencies declined 27% in 2020 as a result of fiscal support schemes and anti-bankruptcy measures. As these measures continued in 2021, buffering businesses from…
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