Credit, Collections & Insolvency News
The pandemic has motivated the UK’s businesses to crack down on late payment, according to the latest European Payment Report from Intrum. More than 11,000 firms across 29 European countries participated in the research. Tomorrow (Thursday 17th June), Intrum’s UK client and sales director Ian Davies will take part in a panel discussion on the…
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New research figures from Mazars show that almost 40,000 businesses were struck off the Companies House register in the first three months of the year, a rise of 743% on Q1 2020. Strike-offs from Companies House increased to 39,601 in the first three months of 2021 compared to just 4,695 in the same period in…
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New research by Uswitch.com has revealed impersonation scams as collectively having had the highest financial impact from fraud in the UK. with £96.6 million lost to impersonation fraud of police or bank staff in 2020, alongside £53.7 million lost to other types of impersonation scams. Unlike impersonation scams, where collectively more than half (56%) of…
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As many businesses face the financial impact of four more weeks before pandemic restrictions lift, small business owners who have become personal guarantors for CBILS loans over £250,000 are being warned that lenders will come to them first, if they default on the loan – not the Government. By 21st June 2020, 50,482 loans had…
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Apex Litigation Finance has announced the appointment of two new Advisors. Jan Buza and Jozef Maruscak join to provide key support for Apex’s growth strategy, strengthening resources to meet a significant increase in case numbers. Buza led Business Development at Exponea, a data company that raised over £30 million and was later acquired by Bloomreach,…
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CCW, the independent voice for water consumers in England and Wales, has announced the appointment of four new independent non-executive Directors to its Board, following their appointment by the Secretary of State for Environment, Food and Rural Affairs. Lisa Tennant, Jeff Halliwell, Rachel Onikosi and Bev Keogh all began their new roles with the consumer…
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The Financial Conduct Authority (FCA) has announced that it has appointed Non-Executive Chair of the London Stock Exchange (LSE) Michael Findlay, as the Chair of its independent Markets Practitioner Panel. Findlay will take up the post from 1st July 2021, succeeding Interim Chair Tim Waddell, Vice Chairman, Global Corporate & Investment Banking for EMEA, BofA…
Read moreChallenger credit reference agency Credit Kudos, has launched a new Open Banking decision engine which its says will enable credit providers to automate credit policies, grow their loan books, and implement real-time decisioning with no or minimal technical integration. Lenders Admiral Financial Services and 247 Money have already adopted the new technology. Credit Kudos’ Assembly…
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Just Cashflow has announced that it will be offering new and existing customers a full range of Invoice Finance facilities through a mutually beneficial relationship with Optimum Finance. Chief Commercial Officer, Martine Catton said, “Businesses emerging from a post COVID world are going to need access to the most appropriate financial products so it’s important…
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New research from Hamptons has shown that pandemic-led forces mean it is now cheaper to rent than buy a home for the first time since December 2014. For a first-time buyer with a typical 10% deposit, it was £71 per month (or 7%) cheaper for them to rent a home in Great Britain in May…
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Fintech start-up Ophelos has raised £1.6 million from Connect Ventures and Fly Ventures to continue development on its platform and scale the engineering and customer operations teams. The startup says that it is building a customer-centric debt collection process powered by Artificial Intelligence (AI) that will reimagine the debt collection industry to improve financial health…
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A new report has revealed that half of parents struggle to talk to their children about money. Blacktower Financial Management surveyed 1,500 UK parents to understand how parents talk to their children about money. The study reveals that too many mums and dads are neglecting their duty to educate their children about money matters. The…
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Lloyds Banking Group has announced that it has hired David Gledhill, a former executive of Singapore’s DBS Bank, as the Group Chief Operating Officer (COO). Gledhill will join in August this year, subject to regulatory approval, leaving DBS where he was group chief information officer and head of technology and operations. Before joining DBS, Gledhill…
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