Credit, Collections & Insolvency News
End-to-end collections and recovery specialist C&R Software has announced a partnership with Elanev to provide propensity scores. Elanev scores are UK and US-wide. Uniquely they apply to all customers, new and current, credit active and inactive and are updated daily. They include propensities for contact, payment, and financial vulnerability/resilience as well as the best time…
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Digital SME lender and savings bank, Recognise Bank has appointed Jean Murphy as Chief Executive Officer (CEO). Murphy brings over 25 years of experience of banking and capital markets for several leading global institutions. She is also experienced in building businesses, both within financial institutions and having founded and managed a successful wealth management firm.…
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The Financial Conduct Authority (FCA) has appointed Ruairi O’Connell, OBE, as the new Director of International. O’Connell will join the FCA from the Home Office where he is Director, International. Ruairi has extensive experience in both the Home Office and the Foreign Office, including as British Ambassador to Kosovo. He will be responsible for helping…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in June 2022 by 2% compared with the same month in 2021. In the first half of 2022, new business was also 2% higher than in the same period in 2021. The…
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New figures released by the Finance & Leasing Association (FLA) have indicated that second-charge mortgage new business volumes grew by 24% in June 2022. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in June 2022 by 12% compared with the same month in 2021. The corresponding value of new business decreased by 6% over the same period. In the first half of 2022, new business volumes were 6%…
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Latest figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 7% in June 2022 compared with the same month in 2021. In the first half of 2022, new business was 24% higher than in the same period in 2021. The credit card and personal loan sectors together…
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Ofgem has announced that the energy price cap review will be updated every three months instead of six. The energy regulator says that the change will go some way to provide the stability needed in the energy market, reducing the risk of further large-scale supplier failures which cause huge disruption and push up costs for…
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More than £800 billion of equity was available for release in UK homes in Q2 2022, an increase of over £25.6bn in three months and the first time it has exceeded this milestone according to the latest Halifax quarterly regional house price index and analysed by Canada Life. The figures reveal that the total amount…
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With the Bank of England Monetary Policy Committee confirming its base rate will rise by 0.5% to 1.75%, research from international audit, tax and advisory firm Mazars shows UK households face an immediate increase in interest payments of £1.67bn. Analysis of Bank of England data by Mazars shows UK households are currently paying £24.1 billion annually in…
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The Bank of England (BOE) has raised interest rates by 0.5 percentage points to 1.75%, the biggest rate rise in 14 years. The increase is the biggest increase in 27 years, with a prediction that inflation would hit 13% by the end of the year. It was the sixth consecutive raise and the biggest single…
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The Resolution Foundation has warned that inflation could hit more than seven times the Bank of England’s 2% target, with the think-tank saying it could pass the 15% mark in early 2023. Inflation currently stands at 9.4% and the Bank’s Monetary Policy Committee is expected to increase interest rates further as it looks to tackle…
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New research from the University of Edinburgh’s Smart Data Foundry, supported and funded by abrdn Financial Fairness Trust has found that as revealed that the over-50s are being hit hardest by the current financial crisis and could face a lifetime of financial insecurity. According to the report, economic inactivity rates have risen a third amongst…
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