Credit, Collections & Insolvency News
Late payments have soared in the North America continent as businesses are squeezed by the impact of COVID-19, according to latest research by trade credit insurer Atradius. The annual Payment Practices Barometer analyses the payment behaviours and sentiment of businesses in the United States, Mexico and Canada (USMCA). This year’s survey results reveal compromised cashflows…
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Equiniti has announced that it has changed its name to EQ to unify branding across its core business divisions. EQ provides accessible digital services for regulated markets. It specialises in equity and investment products, pensions, payments and regtech, and performs administration and payment services.. The company says that the new label, EQ, aligns the company’s…
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New research by Coface has predicted that the number of insolvencies is expected to rise across Europe in the second half of 2020, and in 2021. Germany, the least affected country, is still on track for a 12% increase in insolvencies between end-2019 and end-2021. France (21%) and Spain (22%) will be more affected by…
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Payment delays in Asia have increased, according to new economic research by leading trade credit insurer Atradius. The company’s Payment Practices Barometer measures the changing pattern of payment behaviour in B2B trade. In a survey conducted in March this year, Atradius found that businesses in Asia reported more than half (52%) of B2B invoice payments…
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Irish regular, The Central Bank of Ireland has published new regulations to strengthen protections for consumers of licensed moneylending services and to enhance professional standards in the sector. Moneylenders will be required to include prominent, high-cost warnings in all advertisements for moneylending loans with an Annual Percentage Rate (APR) over 23 per cent. The warning…
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The Covid-19 crisis has reduced financial wellbeing in the UK and consumers expect a further decline in the next six months, according to a European survey by credit management group Intrum. Despite this, some UK consumers have experienced a positive effect on their spending. The whitepaper outlines the financial impact of Covid-19 on private households…
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Debt management solutions specialist, Flexys Solutions has announced that it is expanding its debt collection solution business to include Australia, New Zealand and the wider APAC region. The company has appointed a new Regional Director, William Swale for the region. Swales has over 30 years of experience in financial services and utilities. He has held…
Read moreJulia Reuszner has been appointed the new Chief Risk Officer (CRO) at Intrum’s head office. Resuszner joins from Pepins Group AB, a digital equity funding platform, where she is currently the Chief Executive Officer (CEO). Reuszner has a broad background from both the financial sector and the e-commerce industry, and her previous roles include CFO…
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Latest figures from the Registry Trust indicate that the number and total value of judgments registered against Irish businesses more than doubled in Q1 (January-March) 2020 compared to the same quarter last year, The figures show that Irish businesses owed €3,826,317 in Q1 2020, a rise of 134% compared to the same period of 2019.…
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Latest figures from the Registry Trust indicated that the total number of consumer debt judgments in Ireland dropped five percent in Q1 (January-March) when compared to Q1 2019. The total value of registered debt owed by consumers in Q1 2020 was €25,947,064, compared to €28,440,399 in Q1 2019, a fall of nine percent. The average…
Read moreThe number of unpaid UK business invoices has increased by 23% according to new tracker by AI platform provider, Sidetrade. Sidetrade’s tracker is based on a statistical analysis of 26 million invoices, representing €54bn of business to business transactions with the payment behaviour of over 3.7 million businesses is tracked week by week. The company…
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Ireland’s five retail banks may extend loan repayment breaks to help homeowners cope with the impact of the coronavirus to six months from the three months currently in place, the head of their representative body said on Wednesday. The banks agreed the measure in mid-March and had granted or were close to completing 45,000 mortgage…
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The Central Bank of Ireland has published its second Quarterly Bulletin of 2020, which focuses entirely on the impact of the Covid-19 pandemic. In terms of its impact on the economy, Covid-19 has triggered a severe economic shock that is fundamentally different in nature and scope from types of shocks previously witnessed. For the Irish…
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