Credit, Collections & Insolvency News
Oakbrook has become the first UK lender to launch a dedicated GPT-powered app within ChatGPT, enabling consumers to explore combining multiple debts into a single structured repayment plan through a conversational interface.
Available under OakbrookOne, the app allows users to model what replacing several existing debts with one monthly repayment could look like, without needing to contact multiple lenders or manually coordinate repayments. If a customer is approved and chooses to proceed, OakbrookOne can manage the repayment process directly, contacting creditors and arranging settlement, reducing the administrative burden often associated with consolidating debts.
Claire Smith, Marketing Director at Oakbrook, said “We believe managing debt should be clearer and easier to navigate. OakbrookOne was designed to help customers explore replacing multiple balances and payment dates with one structured plan.
“Becoming the first UK lender to launch within ChatGPT reflects how conversational AI is changing the way customers explore financial decisions. Our focus is to ensure that experience is transparent, responsible and genuinely helpful.”
The Government has announced new measures on how it intends to modernise payment services regulation and update it to support innovations in money and payments. The measures include improving the regulation of payment services and electronic money by integrating it with the UK’s core regulatory approach for financial services. This will mean establishing a single,…
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The Association of British Credit Unions (ABCUL) has announced it has rebranded to become All Together Money. All Together Money says that the change in name reflects a renewed commitment to bringing credit unions together, strengthening their collective voice and helping them grow in a fast-changing world. Built on cooperation, not competition, All Together Money…
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The Bank of England and Prudential Regulation Authority (PRA) have finalised a package of changes to firms’ resolution reporting and disclosure requirements which reduces the burden of regulation while maintaining a robust and credible regime that supports growth and competition. The UK’s resolution regime is designed to ensure that banks can fail safely, without disruption…
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Latest FICO analysis of credit card data for January 2026 shows a post-Christmas reduction in spending as customers prioritised payments after the festive break. However, with spending lower year-on-year and increases in missed payments, the financial pressures that were a feature of the UK economy for the majority of 2025 have continued into the new…
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