Credit, Collections & Insolvency News
Challenger Bank, Instabank has announced a partnership with Provenir. Instabank is using Provenir’s technology to aggregate credit applicant data from structured and unstructured data sources, including credit bureaux and its core banking system, to provide customers with an instantaneous credit decision. Robert Berg, CEO, Instabank said “Our entire approach is built on simplifying banking, making…
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2016 showed a continued decline of 6% in the number of company insolvencies in the Central and Eastern European (CEEE) region, following a fall of 14% in 2015 according to new reseach by Coface. In all, over the course of last year, six entities per 1,000 became insolvent. This improvement was in line with the…
Read moreThe Central Bank of Ireland has released Ireland’s Money and Banking Statistics for July 2017. Here is an overview of the main findings. NFC lending now stands at the lowest level since the series began. However, medium and long-term lending have both been positive on an annual basis for two consecutive months, which masks the substantial…
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Late payments remain a persistent issue globally nearly a decade past the 2008 crisis, but the long-term outlook is optimistic. A 3% improvement in the cash-to-cash cycle of UK companies has released £8.8bn previously tied up in working capital, according to Grant Thornton’s latest UK Working Capital Survey. Individual businesses, not just the economy benefit…
Read moreHoist Finance has announced that Najib Nathoo, Regional Director West Europe, will leave. Nathoo has worked with the company since 2012 and been a member of Hoist Finance Executive Management Team since 2015. Jörgen Olsson, CEO Hoist Finance said “Najib has played an important role in the evolution of Hoist Finance over the years, from…
Read moreThe government has published its position paper on post-Brexit civil judicial cooperation which states that the government will seek a post-Brexit agreement which “reflects closely the substantive principles of cooperation under the current EU framework. Commenting on the paper Adrian Hyde, President of insolvency and restructuring trade body R3, said “The UK’s insolvency and restructuring profession…
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Credit insurer Atradius has released a new trade report covering the Middle East and Northern African (MENA) economies. Alun Sweeney, Country Director for UK & Ireland at trade credit insurer Atradius, said: “Businesses are constantly striving to seek new trade opportunities, and build trading relationships, whether as a potential export or import partner. However, success…
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Euler Hermes, the world’s leading trade credit insurer, has issued an assessment of the progress the world has made a decade on from the onset of the Global Financial Crisis. Ludovic Subran, chief economist at Euler Hermes said “After one of the most tumultuous decades in both living memory and by any historical measure, we…
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The Central Bank of Ireland has released Ireland’s Credit and Debit Card Statistics for Q2 2017. Here is an overview of the main findings. Debit card Point of Sale (PoS) transactions, at €2.9 billion in June 2017, were 16 per cent higher than the same month in 2016. Credit card PoS spending was 5 per cent higher than…
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Trade credit insurer Atradius has published an economic research report on South Africa, following the news that the nation has officially entered a recession. The paper, entitled ‘South Africa: More vulnerable to changes in market sentiment’, is designed to brief businesses on the background to the current economic crisis facing the country and assessing its…
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There was a slight fall in the number of debt judgments recorded in the Ireland during the first half of the year, according to figures released today by Registry Trust. There were 1,117 judgments registered against consumers in the first six months of 2017, only one percent higher than the same period last year. But…
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The Irish Small & Medium Enterprises Association (ISME) Credit Watch latest survey shows that late payment has deteriorated from 59 days to 61 days in Q2. Dublin and Ulster businesses are waiting the longest to be paid. Commenting on the results ISME, CEO Neil McDonnell said “Todays’ results are disappointing. Late payments are a big issue for SMEs;…
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Business information specialist, Creditsafe, has announced the addition of 16 countries across the Middle East and North Africa to its global platform. Businesses will now be able to gain instant online access to credit reports for companies in countries including: Bahrain, Benin, Burkina Faso, Congo Kinshasa, Egypt, Jordan, Kuwait, Lebanon, Oman, Palestine (West Bank and…
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