Credit, Collections & Insolvency News
Small business owners are feeling upbeat about the prospect of trading getting back to normal but are still struggling with their mental health and finding financial support, according to a survey from ACCA UK (the Association of Chartered Certified Accountants) and The Corporate Finance Network (CFN). All owners reported that business trading is at the…
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New research by Hodge Bank has found that 65% of over 50s are using technology more than they ever have, with almost half feeling they’re a lot more confident with their IT skills since the pandemic. The survey also showed that those aged 65 and over also embraced technology to chat to family and friends. More…
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Specialist car, van, and motorbike finance company, Moneybarn, has announced that it has selected challenger credit reference agency, Credit Kudos, as its Open Banking partner. Moneybarn will also be using Credit Kudos’s newest product, Assembly, an Open Banking decision engine that enables lenders to automate credit policies and implement real-time decisioning without the need for…
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New research from Citizens Advice has highlighted the potential impact of a cut to Universal Credit this October. The research of over 2,000 people on Universal Credit shows more than a third (38%) would be in debt after paying just their essential bills if their benefits drop by £20 a week. This is equivalent to…
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The growing gap between tech-savvy businesses and those struggling with technology has been accelerated by lockdown, with a huge difference in the average amounts of money invested in technology during this time, according to new research from Hitachi Capital Business Finance. The research surveyed a sample of 1,464 small business leaders across the UK which…
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LexisNexis Risk Solutions UK, part of RELX, has announced that it has acquired TruNarrative. Founded in 2016 and headquartered in Leeds, UK, TruNarrative enables organisations to manage the entire financial crime lifecycle within a single, unified platform that allows for simplified and automated onboarding, a dynamic risk score and transaction monitoring. The platform allows for no-code…
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As part of efforts to tackle the loyalty penalty, insurers in the UK (from 1st October) will be required to offer better value for money policies to existing customers. However, the Financial Conduct Authority (FCA) says too many firms were failing to meet existing regulatory standards let alone the tougher rules coming in. A new…
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Irish Regulator, the Central Bank has announced the appointment of Colm Kincaid as the new Director of Consumer Protection. Kincaid replaces Grainne McEvoy who will leave the Central Bank in January 2022 to take up an opportunity in the private sector. Announcing the appointment, Director General, Derville Rowland said “I am delighted to announce Colm…
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Fraudulent activity soared during the course of the pandemic with loan fraud up 40% in Q2, according to Experian, with criminals opening bank accounts at five times the rate of the same quarter last year. The research found that the fraud rate for current accounts rose by 13% in Q2* compared to the previous quarter and…
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TotallyMoney, the credit app built to help people move their money forwards and achieve their financial goals, has announced the appointment of Liz Afolabi as its People Director. Afolabi joins TotallyMoney’s management team from Unleashed, where she spent two and a half years building productive, engaged and high-performing teams for a number of UK and…
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Motor finance remarketing specialists G3 Vehicle Auctions have appointed a new board of directors alongside a Group General Manager, to oversee their next phase of growth plans following the move to their new £12m purpose-built auction facility. Joining the team as Chief Financial Officer is Rob Argyle who holds over 14 years in multi-site FMCG…
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The Consumer Council for Water (CCW) is calling for improvements to make life easier for customers already facing the immense challenge of running a business during Covid-19. New figures released by CCW show that written complaints from business customers to their supplier rose by 5 per cent during 2020-21. And despite a fall in the number…
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New figures from BDO show almost 32% of mid-sized businesses think they will need to substantially alter their business model to remain viable amid the new post-Brexit arrangements between London and Brussels. The survey of 500 firms showed 36% are prioritising adapting their company to align with the new trading arrangements. This compares with one…
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