Credit, Collections & Insolvency News
Fintech business lender Recognise Bank has announced that it has partnered with TruNarrative, a LexisNexis® Risk Solutions company, to transform the onboarding process for its SME business lending customers. The Bank, which received its full authorisation in September 2021, is a digital bank created for the UK’s 5.5million SMEs, combining a national network of relationship…
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Analysis from Freedom Finance has found that the retail store and online credit sector experienced its fastest ever start to a year in 2022 and looks set to reach further highs this year, Monthly updates from consumer finance trade body, the Finance & Leasing Association (FLA), show that new business volumes reached £2,120 million in…
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The number of housebuilders going bust surged to a record quarterly high in Q1 2022 (117), jeopardising the much-needed supply of new homes, according to data obtained by Price Bailey. According to data obtained from the Insolvency Service under the Freedom of Information Act, a record 360 housebuilders went bust in 2021/22 (year ending 31st…
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New forecasts from Cornwall Insight are predicting that typical gas and electricity bills in England, Wales and Scotland could reach £3,363 in the new year. The figures have increased significantly from the £3,003 figure forecasted two weeks ago. Predictions for the Q4 2022 (Oct-Dec) Cap, have also seen a steep increase, and now sit at…
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Ofgem has appointed Octopus Energy to take on supplying UKEIH’s 3000 domestic customers following a competitive process run by Ofgem to get the best deal possible for customers. Funds that current and former domestic customers of the supplier have paid into their accounts will be protected, where they are in credit. Domestic customers will also…
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Interpath Advisory has announced the appointment of two new directors to its Debt Advisory and Transaction Services teams as it continues to build out and grow its suite of advisory services. Louise O’Sullivan joins Interpath with over 14 years’ of banking and advisory experience. Prior to joining Interpath, she spent seven years in PwC’s debt…
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Two in five need an inheritance to pay for retirement according to research by Opinium for Hargreaves Lansdown. The research found that more than one in four people expect an inheritance or have already received one (29%). Two in five people who expect to inherit say they need the money to fund their retirement (38%).…
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Specialist data supplier, MorganAsh has announced a new partnership with Infiinian. Its new partner, Infinian, is a provider of lending insights and data analytics for the consumer finance sector. The new partnership will mean that financial services firms will be able to gain a better understanding of the characteristics of individual customers, so that they…
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CoCredo celebrated its 20th Anniversary celebrations this month as the current team, and a few old familiar faces, came together at Missenden Abbey to raise a glass to the company reference company. CoCredo is a specialist in providing online company credit reports and related business information within the UK and overseas. Reminiscing about the past…
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EY has continued to expand its UK partnership with the promotion of 75 Equity Partners and 45 external hires – its largest-ever cohort of Equity Partners in the UK. This builds on two years of strong growth, following the appointment of 103 Equity Partners in 2021. The new appointments reflect the firm’s increased investment in…
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Some 49% of people surveyed by the Office for National Statistics say they had purchased less food than normal between 22 June and 3 July. This was up from 8% of those polled last September. Another 48% said they had been forced to spend more than usual on their food shopping. Overall, 91% of 2,300…
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High levels of inflation and the deepening cost of living crisis have prompted further slowing of retail sales growth, according to new figures by accountancy and business advisory firm BDO LLP. The High Street Sales Tracker (HSST), total like-for-like (LFL) sales, combined in-store and online, increased by +8.4% in June compared to the equivalent month…
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Freedom Finance has announced that Emma Steeley will be joining the company as Chief Executive Officer (CEO). Steeley will lead the next stage of the company’s exciting growth ambitions following fresh investment and the completion of recent product upgrades to the award-winning digital marketplace. Emma joins from Equifax, where she spent nearly four years as…
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