Credit, Collections & Insolvency News
Allianz Trade has forecasted an 11% rise in 2024, followed by an additional 2% increase in 2025, according to its latest Global Insolvency Report. In its latest report it reveals a more severe outlook for the global business landscape, with insolvencies projected to climb by 11% in 2024 – an even steeper rise than previously…
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Research from Dun & Bradstreet has found that 85% of UK organisations don’t believe that enhancing supply chain resilience and diversification is crucial for future-proofing their businesses, yet 77% of business leaders are concerned about their level of resilience for future disruptions. The findings reveal that over half of UK businesses (57%) admit that their…
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The global economy is continuing growing at a modest pace, according to the OECD’s latest Economic Outlook. The Economic Outlook projects steady global GDP growth of 3.1% in 2024, the same as the 3.1% in 2023, followed by a slight pick-up to 3.2% in 2025. The impact of tight monetary conditions continues being felt, particularly in…
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Deceased account management specialist Phillips & Cohen Associates (PCA) has announed it has acquired USA-based Estate Information Services (EIS). EIS has long-standing partnerships with some the world’s largest and most sophisticated financial services organizations, including major banks and credit card companies. EIS is fully licensed across the US and is recognized as a leading provider…
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A new study from Juniper Research, found that by 2028, the Buy Now, Pay Later (BNPL)userbase will increase by 107%, from 380 million users in 2024. Banks and super apps are leveraging their positions to underrepresented demographics incentivising BNPL through consolidated offerings tailored to consumers, such as integrated eCommerce platforms. Juniper Research found that despite…
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New research by Allianz Trade in its latest report on global Days Sales Outstanding (DSO) and Working Capital Requirements (WCR) has found that the looming profitability squeeze could extend payment delays further The research found that profitability is the number one driver of payment terms in Europe, more impactful than financing or the business cycle.…
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Despite entering another year already defined by economic uncertainty, supply chain disruption and geopolitical tensions, Taulia’s global Supplier Sentiment Survey found that businesses are largely optimistic about the year ahead. The survey finds that more than eight in 10 (85%) businesses globally are feeling optimistic about the year ahead; a significant increase from 2022 when…
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Business insolvencies in the UK could increase by 10% this year, according to research by Allianz. The insurer’s global insolvency outlook revealed that 15% of small and medium-sized businesses in the UK are at risk of going bust, the highest proportion in Europe. This is compared to 14% in France, 9% in Italy, and 7%…
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Nova Credit, the cross-border and alternative credit analytics company, has announced a strategic collaboration with Creditinfo, a global service provider for credit information and risk management solutions, to help Ukrainians gain access to the necessary financial services needed to effectively rebuild their lives abroad. The partnership is powered by Nova Credit’s Credit Passport®, the only…
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Allianz Trade has predicted that business insolvencies in the UK are set to increase in next few years. The report anticipates that business insolvencies in the UK will hover around 30% above pre-pandemic levels by 2025, with notable peaks expected in 2024 (29,850 cases i.e. +5%) and 2025 (28,400 cases i.e. -5%). The rise is…
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Debt-laden companies across Europe, Middle East and Africa are facing a $500bn refinancing scramble in the first half of 2024. This challenge could lead to the demise of many zombie businesses, despite the expected peak in interest rates offering some relief. The value of company loans and bonds maturing during this six-month period is higher…
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Bluestone Group has announced that it has agreed terms for the sale of its Irish motor finance operations, Bluestone Motor Finance Ireland (BMFI) to Close Brothers Limited. BMFI was established as a lending platform in 2014, after a period of several years managing acquired portfolios of assets in the Republic of Ireland. After its launch,…
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HSBC and Nova Credit have agreed on a new partnership which will enable newcomers to the UK to leverage their international credit history instantly and free of charge when applying for a credit card. New and existing customers applying for an HSBC UK credit card online can choose to share their credit history from a growing list…
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