Credit, Collections & Insolvency News
Latest Bank of England (BoE) figures show that consumer borrowing rose in May, outpacing the amount repaid for the first time since August 2020. Net borrowing rose by £280 million during the month, up from a net repayment of £228 million in April. The report shows that borrowing on credit cards fell but there was…
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The Student Loans Company (SLC) is commencing a procurement exercise to appoint its third Strategic Partner to provide a wide range of services across the Technology Change and Integration area within SLC’s Technology Group. As part of its ongoing commitment to improving its service to customers, SLC has undertaken an ambitious programme to transform the…
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New research has found that the ending of the furlough scheme could spell financial disaster for younger workers. From 1st July 2021, the Government will reduce the level of support given to employers under the Coronavirus Job Retention Scheme. Currently, the Government pays 80% of an employee’s wages for any hours not worked. From Thursday,…
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Professional services firm Begbies Traynor has appointed personal insolvency specialist David Tannock as a Manager based at its Glasgow office. Tannock has more than 18 years’ experience in the insolvency sector and joins from an accountancy and business advisory services firm in Glasgow where he spent almost four years as an insolvency manager, having previously…
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Business finance & debt advisory brokerage Liquidity Club has announced it has appointed Jim Davis as its new Chief Executive Officer (CEO). The brokerage, which is part of the ARMCo group of companies, helps SMEs source funding through invoice finance, asset finance, asset-based lending and business loans. Davis joins from Bibby Financial Services where he…
Read moreEnforcement specialist, Marston has announced the appointment of Steve Callaghan as Chairman of its board of directors. The appointment follows significant new investment from Inflexion Private Equity Partners and Intermediate Capital Group. Callaghan brings a wealth of experience in technology, transportation and sustainability, as well as leadership experience and commercial acumen to help Marston deliver…
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Consumer lender Oplo has announced an initiative that aims to protect our planet and radically accelerate the reduction of carbon emissions by offering all of its 230 staff a free home charging kit if they choose to switch to an electric vehicle (EV). Oplo has teamed up with Octopus Electric Vehicles to offer free and…
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Sopra Banking Software (SBS) has topped IBS’ 2021 Sales League Table holding the pole position for the Lending category, for the fifth year in a row. IBS’ 2021 Sales League Table ranks the various solutions by business domain and geography-based on the new-name customer sales in 2020, across the global market. Sopra Banking Software placed…
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NatWest has announced that it is selling most of its Irish commercial lending business to Allied Irish Banks (AIB), which will take over about €4.2 billion in loans, €2.8 billion in undrawn facilities and about 280 transferred Ulster Bank employees. The exact size of the portfolio and amount payable will depend on movements in the…
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Intrum has published its latest European Payment Report with the analysis showing that half of the companies surveyed stating that they think they are lucky to have survived 2020. At the same time, reality did not turn out as gloomy as expected, partially due to government support, but also with new, digital business models gaining…
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HMRC has launched 12,828 investigations into the use of the Government’s pandemic-related business support schemes, looking into potential fraud and other non-compliance with rules. Analysis by law firm BLM shows there were 7,384 investigations related to the job retention scheme, 5,020 linked to the self-employment income support scheme and 424 related to Eat Out to…
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Equifax has today announced the appointment of Phil McGilvray as the new Managing Director for its Debt Services business, which incorporates TDX Group and Indesser. McGilvray is a highly experienced commercial leader with a career of more than 20 years in financial services he will manage the growth and ongoing development of the Equifax debt…
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One in five consumers are put off by cash-only businesses but some small businesses cannot yet offer them, as many say non-cash payment options are too expensive according to new research by Tomato Pay. The research found that 65% of people would rather support local businesses than big brands and almost half (46%) of people…
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