R3 responds to Q2 2023 insolvency statistics

There were 6,342 seasonally adjusted corporate insolvencies in Q2 2023 – a 8.9% rise compared to Q1 2023’s total of 5,824. Corporate insolvency levels...

EY comments on today’s company insolvency statistics for Q2 2023

“Quarterly company insolvencies reached over 6,300 for the first time since 2009 in Q2 as many businesses struggled to contend with a sustained mix of...

Personal Insolvency fall to lowest level since Q3 2020

The number of individuals entering a personal insolvency procedure has dropped to its lowest quarterly level since Q3 2020. This is heavily fuelled by a...

UK insolvencies reach highest level in 14 years in Q2 2023

The number of registered company insolvencies jumped 13% in Q2 2023 compared to Q2 2022, and reached the highest level since Q2 2009, according to figures...

Report Finds Email is Vital for Government Communication but Security and Interoperability Raise Concerns

Digital communications provider Zivver has today released its Public Sector Freedom to Focus report, which explores the importance of data protection and...

Scotland insolvency statistics Q1 2023, R3 in Scotland response

Corporate insolvency numbers (liquidations and receiverships) in Scotland for Q1 2023-2024 increased by 19.7% compared with Q1 2022-2023, to a total of 292....

Rise in Scottish corporate insolvencies unsurprising, with more to come as creditors lose patience

“The number of corporate insolvencies in Scotland eased on last quarter, but is still around 20% up compared to the same period during 2022. That is...

Recognise Bank Unveils Two New Notice Business Savings Accounts with Highly Competitive Rates

Recognise Bank is thrilled to announce the launch of two new business savings accounts, offering highly competitive interest rates to help SMEs grow and manage...

Intrum Adopts Aryza Control to Advance Credit Management and Market Leadership in the Netherlands

Intrum, Europe’s largest credit management service provider, partnered with Aryza Group, a leading provider of financial software solutions, to leverage...

UK small businesses owed £32.1bn in late payments, with many considering using personal savings to prop up their business, report finds

A new report has revealed that more than a quarter (26%) of small business owners in the UK believe that they will be forced to cease trading if the outlook...

Consumer Duty Regulation Could Drive Competitiveness in the Banking Sector

The Financial Conduct Authority’s (FCA) final rules and guidance for a new Consumer Duty will set higher and clearer standards of consumer protection across...

R3 responds to June 2023 insolvency statistics

Corporate insolvencies decreased by 15.3% in June 2023 to a total of 2,163 compared to May’s total of 2,553, and increased by 27.4% compared to June...

New report reveals 61% of banks still need to update their technology systems within the next 5 years

A new report by leading supply chain finance platform Demica reveals the state of trade finance technology in 2023. The 2023 Benchmark Report for Banks in...

Summer surge for UK insolvencies

The number of registered company insolvencies in June 2023 was 2,163 – a 27% increase from the same month last year (1,698 in June 2022) according to new...

A third of lenders report increasing numbers of defaulted loans over the last 12 months

A third (32%) of lenders have seen an increase in borrower defaults over the last 12 months, according to new research from AI powered transaction analytics...

Buy-to-let arrears worsening at faster rate than residential

The latest research by specialist property lending experts, Octane Capital, has shown that landlords are feeling the pinch, as cases of arrears in the...

97% of European companies experience problems with their current payment systems, new Numeral research shows

Paris — Numeral, the leading bank orchestration platform, published new research conducted in partnership with research company OpinionWay, showing that...

New Enhancements to FICO Platform Power Customer Connections, Enable Enterprise-Wide Transformation and Drive Strategic Business Outcomes

Global analytics software firm, FICO, unveils 19 major enhancements to its industry-leading FICO® Platform, the most powerful and proven foundation for...

Sidetrade acquires US-based CreditPoint Software to disrupt B2B credit risk market

Sidetrade (Euronext Growth: ALBFR.PA), the global leader in AI-powered Order-to-Cash solutions, has announced that it has finalized an agreement to acquire the...

Ebury expands currency capabilities with addition of 11th local currency account

Ebury, the global financial technology firm and FX risk management specialist, is delighted to announce the expansion of its local collection accounts to...

Arrow Global Funds Complete Acquisition of Landmark Dom Pedro Hotels

Arrow Global, a leading European vertically integrated asset manager, has completed the acquisition of major assets from the Dom Pedro Group. The assets, now...

Tata Communications to Acquire Kaleyra, a Leading Global CPaaS Platform Player, in All Cash Transaction

Tata Communications, a global digital ecosystem enabler, today announces it has entered into a definitive agreement through Tata Communications Limited to...

Highland nursery Country Bumpkins enters liquidation

Managing directors and Insolvency Practitioners Ian Wright and Scott Milne from the Glasgow office of cross-border advisory firm Quantuma, were appointed as...

PayU adds new payment methods to help merchants increase conversion at checkout in South Africa

Amsterdam, The Netherlands – Today PayU, the leading online payment service provider operating in over 50 emerging markets, announces the integration of...

Latest interest rate rise “piling more pressure” onto struggling households

The Money Advice Trust, the charity that runs National Debtline and Business Debtline, has responded to the Bank of England’s Monetary Policy Committee’s...

Sigma Connected welcomes West Midlands Mayor as growth continues

A Birmingham-based business outsourcing provider has hosted Mayor of the West Midlands Andy Street as it marks its next phase of growth. Sigma Connected, which...

Apex Litigation Finance appoint Chris Thenabadu and Stephen Caldecott

Litigation funding specialists Apex Litigation Finance have announced the appointment of two new Legal team members: Chris Thenabadu joining as Senior Case...

Paysend and RemotePass Partner to Offer Instant Payments to Contractors Globally

This partnership will facilitate instant and cost-effective payments to international workers in 80 countries. Paysend, the global card-to-card payments...

R3 responds to May 2023 insolvency stats

Corporate insolvencies increased by 51.2% in May 2023 to a total of 2,552 compared to April’s total of 1,688, and increased by 39.8% compared to May...

Insolvencies jump 40% in May

The number of registered company insolvencies in May 2023 was 2,552 – a 40% jump from the same month last year (1,825 in May 2022) according to new figures....

Industry Awards to Celebrate Outstanding Performance in Collections and Debt Purchase Sector now open for nominations

The Credit Services Association, the trade association for the debt collection & purchase sector, has launched this year’s Membership Awards which is...

PCI Pal is Enhancing Contact Centre Payments Through the Power of AI

PCI Pal® (LON: PCIP), the global SaaS provider of secure payment solutions for business communications, is leveraging its technology to allow organisations to...

BR-DGE partners with Group Payments Platform Hands In to give merchants greater access to flexible payments

Partnering with Hands In expands BR-DGE’s offering to merchants in travel, leisure, and hospitality whilst offering the ability for consumers to split costs...

CCUA calls on MoJ and HMCTS to involve private sector court users in enforcement of Judgments and Possession Orders

The Civil Court Users Association (CCUA) is once again calling on the Ministry of Justice (MoJ) and HM Tribunals and Courts Service (HMCTS) to consider far...

Mortgages plunged and may be heading for rock bottom

We borrowed £58.8 billion in mortgages in the first three months of 2023 – down 23.6% in a year and the lowest since Q2 2020. £48.9 billion of new...

Identifying opportunities whilst looking after vulnerable borrowers will be the most important thing – comment

Following the latest figures from the BoE, Adam Oldfield, chief revenue officer at Phoebus Software, says “The figures from the Bank of England today confirm...

Paysend appoint industry leader as CFO for the Americas

Paysend, the global card-to-card transfer pioneer and global payments platform, has appointed ex Ernst & Young auditor and American Express executive, Yuri...

Lenovo partners with Demica on distributor finance

Demica, one of the world’s largest providers of supply chain finance SaaS solutions, has partnered with Lenovo’s channel solution and service team to...

DRS: Relief at halt, but lessons must be learned – FSB

Commenting on the confirmation that the Scottish Government’s controversial Deposit Return Scheme (DRS) will not proceed in its current form, Federation of...

Webio Launches DebtChat a Conversational AI Webchat Solution for Credit and Collections

Dublin, Ireland – Webio recognised experts in Credit and Collections conversations have developed their AI and Machine Learning capabilities to have a...

Edenred Payment Solutions launches

The rebrand of PPS and Edenred Corporate Payments to Edenred Payment Solutions was unveiled at Money2020 today, marking the next step of the business’s...

Insolvencies of breweries triple in the last year – brewers fail as inflation bites

The number of UK breweries becoming insolvent has tripled in the past year, jumping to 45 in the year to March 31 2023, up from 15 in the previous year* says...

Enforcement Conduct Board welcomes David Parkin secondment

The Enforcement Conduct Board (ECB) CEO Chris Nichols has today welcomed David Parkin on full time secondment for up to 12 months. Until recently, David was...

Lantern raises a syndicate financing facility with specialist banks Hampshire Trust Bank, Paragon and Shawbrook and alternative investment firm, BCI Capital

The EY FS Corporate Finance team has recently advised Lantern on the successful completion of a £97.5m amendment refinance and extension of its existing...

Barratt Smith and Brown Appointed to Manage Collections for Together Energy Administration

Barratt Smith and Brown are delighted to announce our appointment by the FRP Advisory as the debt recovery partner for the Together Energy’s administration....

Ban on IVA referral fees – to stop firms pushing the wrong debt options

From 2 October, the FCA will ban some debt advice firms from receiving referral fees for things like IVAs. Providers entering the market from today will be...

Intrum UK acquires Capquest and Mars UK platforms from Arrow Global

Credit management services company Intrum has completed the acquisition of the Capquest and Mars UK servicing platforms from European fund manager Arrow...

Peter O’Connor becomes new CEO of Target Group

Target Group, the operational transformation, business processing and software provider, has today appointed Peter O’Connor as CEO. O’Connor, joined the...

Group Payments Leader Hands In Unveils Market-Leading Advisory Board

Hands In, the innovative group payment service provider that recently secured a successful funding round to accelerate the commercialization of its platform,...

Lowell First Quarter Results 2023

Lowell, a European leader in credit management services, today announces its results for the 3 months ended 31 March 2023. Commenting on today’s announcement...

Mambu and Mia-FinTech announce collaboration to accelerate introduction of digital finance solutions

Mia-FinTech, the fintech startup that enables banking and financial institutions to evolve towards open finance, and Mambu, a leading cloud banking platform,...

Freedom Finance announces platform upgrades to fuel product-led growth

Freedom Finance, one of the UK’s leading digital lending marketplaces and embedded finance providers, has launched a number of significant upgrades and...

Ebury announces strategic growth plans in Brazil and increased product offering at Money 20/20

Ebury, a leading global fintech specialising in international payments, FX solutions and business lending,announces plans to strengthen its proposition in...

UK firms lose 71 days a year chasing late payments – at a cost of £27bn

UK businesses are spending over 71 days per year – more than a quarter of the working year – chasing late payments, according to the annual European...

PayProp Crowned Tech Company of the Year – Large at Global Business Tech Awards 2023

PayProp, the automated rental payment, reconciliation and distribution platform for residential property businesses, has been named Tech Company of the Year...

Yooz Wins Accounting Tech of the Year Award 2023

The UK FinTech Awards, brought to you by FinTech Intel, the global market intelligence platform for financial services technology, has crowned the best UK...

Cloud no longer new kid on block

Small businesses need to conquer their fears of cloud technology if they are to thrive in the next decade, experts have warned. Experts from...

Ebury partners with leading corporate solutions provider ABN Australia

The Mass Payments arm of Ebury, the global financial technology firm, is delighted to announce its partnership with ABN Australia, to provide payroll payments...

Private renters twice as likely to be in problem debt as general population

New polling and report from StepChange Debt Charity reveals a private rental market unable to meet the needs of financially vulnerable tenants, with one in six...

Europa Investimenti (Arrow Global Group) – Roberto Rondelli joins the team as Head of Going Concern Strategies, Italy

Milan – Europa Investimenti S.p.A., a leader in the Italian single name NPE and distressed markets and advisor to the Arrow Credit Opportunities (‘ACO’)...

A trend that is likely to continue – comment on the UK Finance arrears and possessions figures for Q1

“Having been in a low interest environment for such a long time the recent increases in interest rates have put many borrowers into a position they have...

Debt causing a mental health ticking time bomb according to Money Wellness

80% of Brits getting debt help say their mental health has affected their finances, according to a survey carried out by Money Wellness, the wellbeing platform...

R3 responds to the April 2023 insolvency figures

Corporate insolvencies decreased by 31.8% in April 2023 to a total of 1,685 compared to March’s total of 2,471, and decreased by 15.2% compared to April...

Insolvencies drop 15% in April

The number of registered company insolvencies in April 2023 was 1,685 according to official figures released today.  This figure is 15% lower than the same...

The Other House chooses Yooz to simplify their accounts payable

London-based Residence Club, The Other House, has partnered with cloud-based purchase-to-pay (P2P) automation provider, Yooz, to simplify its accounts payable...

Investigations into directors of insolvent companies increase 36% in past year

Investigations launched by the Insolvency Service into directors of insolvent companies for alleged misconduct have risen 36% from an average 142 per month in...

One Out Of Three UK Banks Do Not Prioritise Single Customer View Ahead of New Consumer Duty Requirements

A new study commissioned by global analytics software platform provider FICO reveals work still needs to be done for advanced personalization in UK banks. The...

UK firms lose 71 days a year chasing late payments – at a cost of £27bn

UK businesses are spending over 71 days per year – more than a quarter of the working year* – chasing late payments, according to the annual European...

Perch Group bolsters industry-leading client team with new appointments

North-West based Perch Group, one of the UK’s fastest-growing debt purchase, collections, litigation and reconnection firms, has announced the appointment of...

Paysend Signs Strategic Partnership Deal with TelevisaUnivision, Bringing Simple Money Transfers to 60 Million Hispanic Americans

Paysend, the global card-to-card transfers pioneer and global payments platform, has announced a new strategic partnership with the world’s leading...

Quantuma expands its Glasgow team with the recruitment of leading Restructuring professional

Cross-border advisory firm Quantuma has appointed Chartered Accountant and Restructuring Advisory professional Alistair Dickson as a managing director in its...

Payment Orchestration: Is it really the solution to solve all painpoints?

A recent research by paytech company payabl. has looked into whether or not payment orchestration could become a key capability for merchants across varying...

Sigma Connected marks environmental tree-planting milestone as it hits 5,000 employees

A unique partnership between a growing business outsourcing provider and an environmental charity has seen 3,000 new trees planted in forests across the world....

Demand for debt advice continues to rise

Demand for debt advice is up 15% year-on-year according to StepChange Debt Charity’s client data for March, released today. This continues a consistent trend...

Finverity Appoints Symmie Swil, Former Investec and Starling Bank Executive, as Head of Operations

Finverity, the leading trade and supply chain finance digital ecosystem, announces the appointment of Symmie Swil as Head of Operations. The appointment comes...

Payment options open up with PayPoint OpenPay

PayPoint, working in partnership with OVO, launched its new OpenPay service in March 2023 to make the Governments £200 Domestic Alternative Fuel Payments...

Bankruptcies rise in Q1 2023

The number of people being declared bankrupt has risen by 7% in Q1 2023 compared to Q1 of the previous year, and risen 4% on Q4 2022 according to figures...

R3 responds to Q1 2023 insolvency statistics

There were 5,747 seasonally adjusted corporate insolvencies in Q1 2023 – a 3.7% fall compared to Q4 2022’s total of 5969. Corporate insolvency levels for...

Comments on company insolvency stats for Q1 2023

“The significant year-on-year rise in corporate insolvencies has again been driven by Creditors’ Voluntary Liquidations (CVLs), with business owners...

Insolvencies rise 18% year-on-year in Q1 but numbers will fall in second half of 2023 says RSM UK

The number of registered company insolvencies soared by 18% in Q1 2023 compared to Q1 2022 according to figures released today. However, the number of...

New President at insolvency and restructuring trade body R3

Nicky Fisher, Partner at Herron Fisher, has been appointed President of R3, the insolvency and restructuring trade body. As President, Fisher will work with...

Arrow Global acquires Eagle Street to expand real estate capabilities

Arrow Global Limited (“Arrow Global”), a leading vertically integrated alternative asset manager specialising in credit and real estate, has announced its...

R3 in Scotland responds to the annual insolvency statistics

There were 1,132 corporate insolvencies in the year 2022-2023. This was an increase of 32.6% from 2021-2022’s figure of 854, an increase of 157.3% on...

Lowell reports full year 2022 results

Lowell, a European leader in credit management services, today announces its full-year results for the 12 months ended 31 December 2022. Commenting on...

CIVEA welcomes the appointment of Chris Nichols to Enforcement Conduct Board

CIVEA is the principal trade association that represents the civil enforcement industry in England and Wales and was instrumental in designing the blueprint...

Property repossessions up as much as 30% year on year

Research by property purchasing specialist, House Buyer Bureau, has revealed that the number of homes being repossessed across the property market in England...

Phillips & Cohen Associates completes acquisition of Ardent Credit Services following FCA approval

Phillips & Cohen Associates (UK) Ltd, the Manchester-based deceased account management business, has completed the acquisition of Ardent Credit Services...

Legal comments on Ofgem prepayment meter U-turn

This week, Ofgem have announced new rules reintroducing the use of forcibly switching customers to prepayment energy meters, but under strict conditions...

Funanga launches in North America With Now Prepay

Berlin, Germany – Funanga, the Berlin-based instant cash payment service for online merchants, today announced its expansion into Canada – with plans for...

Kyocera selects Sidetrade to underpin its EMEA growth

Kyocera has signed an EMEA contract with Sidetrade, a global AI-powered Order-to-Cash platform, to maximise revenue and enhance productivity. Kyocera...

Debt and arrears levels rocket among StepChange Scotland clients in 2022

StepChange Debt Charity Scotland’s 2022 Scotland in the Red report, published today, reveals the toll a year of increased living costs has had on Scots’...

Wasted communication efforts costing UK SMEs £74 billion annually

The cost of ineffective communication in the workplace within the UK’s 5.5 million small and medium-sized businesses is skyrocketing, experts have warned....

Kyocera selects Sidetrade to underpin its EMEA growth

Kyocera Document Solutions Europe (KDE), a leading global provider of total document solutions, has selected Sidetrade to control and analyze their cash flow...

New prepayment meter guidance welcome, but more protections needed

The Money Advice Trust has today welcomed Ofgem’s new code of practice for energy suppliers on the installation of prepayment meters, and has urged the...

R3 responds to March 2023 insolvency statistics

Corporate insolvencies increased by 37.7% in March 2023 to a total of 2,457 compared to February’s total of 1,784, and increased by 15.9% compared to...

Insolvencies climb 16% in March

The number of registered company insolvencies in March 2023 was 2,457 according to figures released today. This figure is 16% higher than the same month in the...

TSB Bank plc and Flexys Solutions Extend Technology Partnership

TSB Bank plc has agreed an extended partnership with debt resolution system supplier Flexys Solutions. Following a successful project to provide a digital...

Arrow Global appoints Managing Director, Nordics, Client and Product Solutions

Arrow Global Group (“Arrow Global”), a leading vertically integrated alternative asset manager specialising in credit and real estate, has announced the...

Kyocera selects Sidetrade to underpin its EMEA growth

Kyocera Document Solutions Europe (KDE), a leading global provider of total document solutions, has selected Sidetrade to control and analyse their cash flow...

Joint Regulatory Oversight Committee sets out recommendations for the next phase of open banking in the UK

Today, the Joint Regulatory Oversight Committee (JROC), co-chaired by the Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR), has...

Collaboration vital for progress on data sharing to prevent economic crime, reports The Payments Association in association with Form3

The Payments Association, which celebrates innovation and collaboration across the payments industry, has released a new whitepaper examining the current...

HCEOA welcomes the Enforcement Conduct Board’s draft business plan as it responds to consultation

The HCEOA has welcomed the first ever draft business plan put forward by the Enforcement Conduct Board (ECB) for 2023/24. In its response to the ECB’s...

McLaren Credit Services secures Qualco partner status

One of the UK’s newest and fastest growing debt collection providers has been awarded partner status by leading data analytics and panel manager, Qualco UK....

OneFamily Improves Family Engagement with Proactive Outbound Contact Centre Solution from Noetica and Opus Technology

Noetica – A British company, developing software products for the global contact centre market, today announced that the award-winning financial services...

Richard Corbridge appointed new DWP Chief Digital and Information Officer

Richard (Rich) Corbridge joins DWP Digital on 11 April and will take over from Simon McKinnon as DWP’s Chief Digital and Information Officer (CDIO). Rich’s...

EML’s Authenticated Mandates Wins MPE Award for Open Banking Payment Innovation

Nuapay (EML Payments Limited’s (ASX: EML) Open Banking business) has been recognised for its exceptional Authenticated Mandates solution at the Merchant...

Food supply chain late or failed payment claims up 79% as the sector faces ‘quadruple threat’

One of the UK’s largest trade credit insurers, Atradius, has reported a 79% increase in claims for late and failed payments in the food sector amid national...

Hampshire Trust Bank launches partnership with finova Payment and Mortgage Services

Finova Payment and Mortgage Services has partnered with specialist lender Hampshire Trust Bank (HTB). HTB provides professional investors with specialist...

Virgin Money and Flexys Agree a Six-year Partnership Extension

Virgin Money has signed a six-year contract extension with leading debt resolution software supplier Flexys Solutions. Following a project to provide an...

Mortgage repayments soar by 59% per month, as homebuyers feel the squeeze of rates hikes

The latest research by property purchasing specialist, House Buyer Bureau, has revealed that homebuyers looking to purchase in today’s market are paying as...

Hat-trick of award wins for PayPoint and ClearBank

Digital Payments experts, PayPoint and ClearBank, the enabler of accounts, real-time clearing and embedded banking for financial institutions are celebrating a...

StepChange client debt levels up by 25% in 2022

StepChange Debt Charity’s 2022 Statistics Yearbook, published today, reveals how the cost of living crisis is driving more clients with higher average debts...

Paymentology and Wio Bank PJSC Transform Banking Across the UAE

Paymentology, the leading global issuer-processor, has joined forces with Wio Bank PJSC, the region’s first platform bank, to power its innovative banking...

Industry Trade Body Launches New Consumer Duty Online Training Module

The Credit Services Association (CSA), the only UK Trade Body for the Debt Collection and Purchase Industry, has today launched a new online training module on...

AnaCap and Founders sell minority stake in MRH Trowe to TA Associates at 4.3x money multiple

AnaCap Financial Partners (“AnaCap”), a market-leading partner for founders and entrepreneurial management teams, across software, technology and services...

Arrow Global’s ACO II Fund surpasses target and reaches hard cap of €2.75bn

Arrow Global Group (“Arrow Global”), a leading vertically integrated European asset manager specialising in credit and real estate, announced today it has...

CIVEA responds to poorly interpreted Citizens Advice research on civil enforcement

Responding to research based on surveys by Citizens Advice, Russell Hamblin-Boone, chief executive of the Civil Enforcement Association, said: “CIVEA is...

The Credit Services Association (CSA) Elects Tim Kirk to its Board of Directors

PRA Group is pleased to announce that Tim Kirk, country operations director for the company’s UK business, has been appointed to the Credit Services...

Five Ways Digital Payments will Change Financial Services in 2023

The last three years have seen considerable change in how the UK financial services sector operates. The expectations of consumers have shifted, prompted by...

Nearly 70% of Consumers Want Banks to Tell Them How to Grow and Save Their Money

NEW YORK, NY (March 23, 2023) – Sopra Banking Software (SBS), the global fintech company creating a new breed of banks to power financial services in every...

New Open Banking platform Archie waves a timely hello to Britain’s beleaguered businesses

Archie, a next generation payments and data platform, today launches with a promise to support the UK’s businesses, including underserved small and...

Sharp insolvencies rise warning after government support fades

The number of company insolvencies in February 2023 was 17% higher (1,783) than in the same month in the previous year (1,518) and 33% higher than the number...

Call for Budget support as corporate insolvencies surge

Insolvency figures released yesterday* for February 2023 by the Government’s Insolvency Service shows that the number of registered company insolvencies in...

BOE Mortgage Lenders and Administrators Stats – comment

Bank of England has just published its Mortgage Lenders and Administrators Statistics: 2022 Q4, Simon Webb, managing director of capital markets and finance at...

Comments on rise in mortgage arrears – BoE Lenders and Administrators data

Following the release of the Bank of England’s latest Mortgage Lenders and Adminstrators Statistics for Q4 2022, Andrew Gething, managing director of...

R3 responds to February 2023 insolvency statistics

Corporate insolvencies increased by 6% in February 2023 to a total of 1,783 compared to January’s total of 1,682, and increased by 17.5% compared to...

Climbing insolvencies show little sign of economic recovery

“Today’s statistics show little sign of an economy in recovery. Company insolvencies are continuing to edge upwards as companies buckle under the...

Insolvencies jump 17% year-on-year in February

The number of registered company insolvencies in February 2023 was 1,783 according to figures released today. This figure is 17% higher than in the same month...

Mortgage warning signs from the Bank of England

In the last three months of 2022, mortgages agreed for the coming months were down by a third (33.5%) from the previous three months, and down a quarter...

UK households balancing on financial cliff edge, shows latest Financial Vulnerability Index

As UK households grapple with the rising cost of living, the latest update to Lowell’s Financial Vulnerability Index (FVI), an innovative tool to measure and...

Darlington Borough Council secures contact centre payments with PCI Pal

Darlington Borough Council has selected PCI Pal® (LON: PCIP), the global SaaS provider of secure payment solutions for business communications, to manage its...

Government Companies House changes will fail without reforms, R3 warns

Government efforts to reform Companies House won’t achieve their aims without closing risky loopholes, insolvency and restructuring trade body R3 has warned....

PayPlan becomes first debt advice provider to introduce British Sign Language video interpreting service

Free debt advice provider PayPlan has teamed up with British Sign Language (BSL) Video Interpreting Service, SignVideo, to improve accessibility to customers...

Laserfiche Launches New MuleSoft Integration

Laserfiche — the leading SaaS provider of intelligent content management and business process automation — today announced a new MuleSoft Certified...

Fintechs unite with launch of ‘Lenvi’

A trio of fintechs with years of industry-leading experience are joining forces to form a powerhouse set to take on consumer and commercial lending markets....

Real insolvencies more than four times the volume stated in new PWC report

A report from PWC that suggests insolvencies have only increased 11.8% is a gross distortion of the true challenge facing UK small businesses. The actual...

Mia-FinTech launches Payment Integration Hub, a new end-to-end digital payments solution

Mia-FinTech, the technology provider for banks and financial institutions based on the Mia-Platform technology, announced that it has launched Payment...

Real insolvencies more than four times the volume stated in new PWC report

A report from PWC that suggests insolvencies have only increased 11.8% is a gross distortion of the true challenge facing UK small businesses. The actual...

Azzurro Associates recognised as one of Europe’s fastest growing companies

Azzurro Associates is celebrating being recognised by the Financial Times as one of Europe’s fastest growing companies. The business, which delivers...

Webio Brings New Conversational Self-Service Portal to the Credit Industry

Webio, a leader in Conversational AI and digital engagement in the credit, collections, and payments industry, has launched its Self-Service Studio, the first...

Phillips & Cohen Associates acquires Ardent Credit Services

Phillips & Cohen Associates (UK) Ltd, the Manchester-based deceased account management business, is acquiring 100% of Ardent Credit Services, the...

New Themis Global Website

We are very excited to officially announce the launch of our new website www.themisglobal. co.uk. Our goal was to provide you with an improved and interactive...

Paysend partners with Transformify to provide simplified payroll on-demand payments

Paysend, the UK-based fintech with over 7 million customers, today announces a partnership with global payroll on-demand & vendor management platform...

PSR seeks views on papers for card scheme and processing fees market review

The Payment Systems Regulator (PSR) has published two papers as part of its card scheme and processing fees market review. One is a call for evidence on...

Laserfiche Joins the Boomi Technology Partner Programme, Supporting the Automated, Connected Enterprise

Long Beach, California – Laserfiche — the leading SaaS provider of intelligent content management and business process automation — today announced a...

Ebury expands Mass Payments division with new US office in North Carolina’s tech triangle

The Mass Payments arm of Ebury, the global financial technology firm, is delighted to launch a Representative Office in the heart of the research and...

European payment solutions provider Lyra partners with Napier to grow transaction monitoring capabilities

Financial crime compliance technology specialist Napier has announced a new partnership with Lyra Group, the €79 million turnover European and unified...

DVLA extends Target Group contract to mark a decade of collaboration

Target Group, the operational transformation, business processing and software provider has announced that the DVLA has extended its contract for Target to...

Retail job losses paint a ‘grim picture’, says insolvency expert

Following the news that almost 15,000 retail jobs have been axed since the start of 2023, James Burgess, Commercial Director at Atradius UK says: “The loss...

46% increase in HMRC’s attempts to shut down businesses that have fallen behind on their tax

New data from Mazars, the international audit, tax, and advisory firm, shows that HMRC tried to shut down 440 companies last quarter over unpaid tax debts –...

Two in five people rationing essentials to keep up with credit repayments

Struggling households borrowed £11bn to cope with the cost of living crisis in 2022 and are cutting back on essentials to keep up with the repayments,...

Half of Scottish adults are struggling to keep up with essential bills

A new poll of the UK population, conducted by YouGov for StepChange Debt Charity, has revealed that 43% of the UK population, including 48% of Scottish adults...

Insolvency stats reveal stark 52% rise in compulsory liquidations

“Today’s statistics reveal a stark reality that insolvencies are continuing to climb in the face of record levels inflation, increasing interest rates and...

40% of Brits still work from home at least once a week. It’s a market retailers can’t ignore, says ParcelHero

Home working is here to stay – at least for wealthier professionals. A new Office for National Statistics (ONS) report reveals that, during the second half...

R3 responds to January 2023 insolvency statistics

Corporate insolvencies decreased by 15% in January 2023 to a total of 1,671 compared to December 2022’s total of 1,965, increased by 6.6% compared to...

DVLA extends Target Group contract to mark a decade of collaboration

Target Group, the operational transformation, business processing and software provider has today announced that the DVLA has extended its contract for Target...

Sigma Connected becomes Mental Health Charter Platinum member

As part of the company’s ongoing commitment to the wellbeing and welfare of its employees, business process outsourcer Sigma Connected has announced that it...

Pub and bar company insolvencies jump by 83% in past year to 512

Insolvencies of pub and bar companies have increased by 83% in the past year*, from 280 in 2020/21, to 512, says UHY Hacker Young, the national accountancy...

Paysend Partners with Purpl to extend Money Transfer to Lebanon

Paysend, the UK-based fintech with over 7 million customers, today announces a commercial partnership with Purpl, the Lebanese remittance and cash out...

PSR sets out proposed plans for the reporting of Authorised Push Payment scams

Today, the PSR has published its latest consultation on guidance to support payment service providers (PSPs – like banks and building societies) with...

Target Group announces new CFO

Target Group, the operational transformation, business processing and software provider has today announced that Katherine Bowen has been promoted to Chief...

Sales fall as retailers struggle with cash flow – expert insolvency comment and data

Following the news that retail sales fell by almost 7% in January,  Owen Bassett, expert retail underwriter at Atradius, said: “There are bumpy times ahead...

Excellion Capital continues to grow and appoints David Horwich as VP Real Estate

Excellion Capital, the boutique investment and advisory firm focussed on real estate and asset-backed investments, has appointed David Horwich as VP Real...

Corporate insolvencies at highest levels since 2009

The latest Government insolvency statistics for 2022 show a significant increase in the number of companies in distress. The total number of company...

Provenir Earns Coveted ISO/IEC 27001 Accredited Certification for Data Security

Parsippany, NJ — Provenir, a global leader in data and AI-powered risk decisioning software, today announced it has achieved ISO/IEC 27001 accredited...

Aidene Walsh appointed Chair of the PSR

We can confirm the appointment of Aidene Walsh as our new chair for a three-year term, effective immediately. Aidene has been interim chair of the PSR since...

Enhanced debt advice services will help 440,000 people over next three years

The Money Advice Trust has today announced major enhancements to its National Debtline and Business Debtline services, as the charity’s new contracts with...

Company insolvencies hit 13 year high

The number of registered company insolvencies between 1 October and 31 December 2022 (Q4 2022) was 5,995 (seasonally adjusted) according to figures released...

Comments on today’s Insolvency Service Q4 2022 company insolvency statistics

“The 30% year-on-year increase in company insolvencies in Q4 2022 illustrates the challenging trading conditions currently facing many UK businesses. We are...

Company insolvencies rise by 30% as businesses fall victim to looming recession – Insolvency service data

“This morning’s ONS figures confirming 5,995 business insolvencies were registered in Q4 of last year are sobering news, and unfortunately we’re likely...

R3 responds to the 2022 annual insolvency statistics

There were 22,109 underlying corporate insolvencies in 2022. This was an increase of 57.3% from 2021’s figure of 14,059, an increase of 75% on 2020’s...

Cost of living leaving more new clients struggling with essential bills

New StepChange Debt Charity client data for December 2022 reveals a higher proportion of clients in arrears on priority bills including gas, mortgage payments...

PayPlan supports Time to Talk Day, the nation’s biggest mental health campaign

Time to Talk Day is quickly approaching and there are plenty of ways to get involved and raise awareness of support for mental health-related problems...

How do businesses overcome the issue of late invoice payments?

Late payments remain one of the biggest challenges for businesses. Smaller and independent organisations help underpin the UK economy and rely heavily on a...

Scottish small business confidence down again as cost of doing business crisis endures

Scotland’s small business confidence fell again in the final quarter of 2022, latest figures from the Federation of Small Businesses (FSB) show. The small...

Appointment of Administrators at Bluespot Furniture Ltd

James Sleight and Oliver Collinge of PKF GM were appointed as Administrators of Bluespot Furniture Ltd on 20 January 2023. Bluespot Furniture was a...

Almost a quarter of StepChange Scotland clients report the cost of living as the driver of their debt problems

StepChange Debt Charity Scotland client data for the fourth quarter of 2022 shows the cost of living increase was the leading cause of debt for almost a...

Scotland insolvency statistics Q3 2022, R3 in Scotland response

Overall, corporate insolvency numbers (liquidations and receiverships) in Scotland for Q3 2022-2023 increased by 13.3% compared with Q3 2021-2022. The number...

Scottish insolvencies rise, but credit pressure yet to reach pre-pandemic levels – comments

“The number of Scottish companies entering insolvency has increased again, according to the AiB’s latest figures, and that upward trend is set to continue....

Yooz Celebrates Another Year of Big Wins

Yooz, a leading purchase-to-pay (P2P) automation provider, is accelerating into 2023 with a growing list of key clients, growing loyal customer base, internal...

Payments Fintech Paysend attracts Top Executive from Amex

One of the UK’s most experienced Financial Services marketers, Rupert Bedell has joined Paysend as the Chief Marketing Officer, completing Paysend’s Exco...

Paysend Partners with JMMB Money Transfer to Make Payments in Jamaica from the UK, US and Canada

Paysend, the UK-based fintech company, with over 8 million customers, announces a technology partnership with JMMB Money Transfer, a subsidiary of JMMB Group,...

CSA launches new learning website

The Credit Services Association (CSA) has launched a new standalone website to specifically promote its training and apprenticeship services. The CSA LEARNING...

Nine out of Ten Finance Leaders Yet to Move to Full AP Automation

Despite the continued drive of businesses towards new technology, the finance department has become stuck on its digital transformation journey, a new survey...

Tough 2023 forecast as cash flow pressure drive surge in insolvencies

Headwinds likely to cause issues even for better-performing businesses in 2023. Directors advised to act now as economic climate drives increase in...

Another Gold Mark of Distinction for Intrum

Intrum UK has once again secured Investor in Customers (IIC) Gold accreditation, reinforcing its commitment to deliver the highest standards of customer...

R3 responds to December 2022 insolvency figures

Corporate insolvencies fell 3.25% in December 2022 to a total of 1,964 compared to November’s total of 2,029. They were 31.9% higher than in December 2021...

December company insolvencies finish 2022 remaining at historic high

The number of registered company insolvencies in December 2022 was 1,964 – a 32% increase on the previous year (1,489 in December 2021) and 76% higher than...

Dangerous debts on the rise: from higher earners to the most vulnerable

A third of people have poor or very poor debt resilience. Higher earners are more likely to score poorly for debt resilience than lower earners. 38% of those...

Birmingham youth charity benefits from £2.000 Sigma donation

A Midlands business outsourcing firm has donated £2,000 to a Birmingham charity which provides educational, financial and skills support to children and young...

TOD Chooses TPAY for Mobile Payments

TOD, the fastest growing streaming platform for the Middle East and North Africa (MENA) has struck a strategic partnership with TPAY, the payments leader for...

Post-Xmas debt hits £9bn in January

Two thirds (63%) of households resorted to credit cards, loans and overdrafts to cover Christmas costs in 2022. A total post-Christmas balance of £9.8 billion...

Crunch time – we’re borrowing more and missing bills

More than one in five people are borrowing more than they did this time last year (22%). 8% have had a direct debit, bill or standing order they’ve been...

Industry welcomes outcome of HMRC consultation

This week, HMRC published the outcome of the consultation they conducted into repayment agents after growing concerns around consumer protection issues,...

Halton Borough Council Joins Early Payment Platform Saltare to Expand Payment Options for Suppliers

Halton Borough Council in North West England has become the first local authority in the UK to adopt a new fintech platform that will allow them to further...

UK personal Debt rose a third in 2022

Spiralling bills and costs have seen the average adult’s debt (not counting mortgages) in the UK rise from £25,879 to £34,566 (£8,687) in 2022, with four...

New research shows organisations are failing to grasp customer interaction needs

Over 70% of UK organisations which offer contact centre services are failing to implement new ways of communicating with their customers, a new survey shows....

EY-Parthenon agrees sale of Complete Business Solutions to EVO saving over 600 jobs

Over 600 jobs have been saved after EY-Parthenon agreed the sale of Complete Business Solutions to EVO Business Supplies. Tim Vance, John Sumpton and Sam...

Halton Borough Council Joins Early Payment Platform Saltare, to Expand Payment Options for Suppliers

Halton Borough Council in North West England has become the first local authority in the UK to adopt a new fintech platform that will allow them to further...

The Big Switch: What the changeover means for SME’s

Businesses now have only two years to prepare for one of the biggest technological changes facing the UK as the Government and telecoms industry turns off the...

Home repossessions on the decline despite rising mortgage costs

The latest market analysis from property purchasing specialist, House Buyer Bureau, reveals that since the Bank of England started raising interest rates at...

ONS: An even bleaker midwinter as we wrestle with bills

A quarter of us (23%) are either occasionally, hardly ever or never able to keep warm in the living room at home. This rises to 32% of those aged 16-29. 63% of...

Debt troubles hit high earners, as motor finance delinquencies reach three year-high and mortgage pressures mount

Climbing interest rates are pushing more and more high earners into debt troubles, according to the latest Market Pulse from credit reference agency Equifax,...

Review of enforcement agent (bailiff) reforms: call for evidence published in November 2018

Responding to the government’s Review of enforcement agent (bailiff) reforms: call for evidence published in November 2018, Russell Hamblin-Boone, chief...

Wave of restructuring and insolvencies inevitable warns RSM Restructuring Advisory

The total number of company insolvencies in England and Wales in November 2022 was 2,029 – a 21% year-on-year increase (1,676 in November 2021) and 35%...

R3 responds to the November 2022 insolvency statistics

Corporate insolvencies increased by 4.2% in November 2022 to a total of 2,029 compared to October’s total of 1,948, and increased by 21.1% compared to...

Second charge mortgage new business volumes grew by 18% in October 2022

Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at...

Enforcement Conduct Board appoints Chris Nichols as first CEO

The Enforcement Conduct Board (ECB), the new independent oversight body for the enforcement industry (bailiffs) in England and Wales, is today announcing that...

Government must step up to secure important bailiff reforms

Responding to the Government’s announcement today of its support for a new independent bailiff regulator, the Enforcement Conduct Board, Adam Butler, Public...

Sigma Connected donates £5,000 to help vulnerable people at Christmas

Business process outsourcing provider Sigma Connected has donated £5,000 worth of supermarket vouchers to 50 financially vulnerable people to help them cope...

Charlotte Gilbert appointed as Managing Director, Client and Product Solutions, to scale Arrow’s fund management business

Arrow Global Group (“Arrow Global”), a leading vertically-integrated European fund manager in credit and real estate, is delighted to announce the...

Aryza announce the launch of its next generation insolvency software

Aryza, expert developers of software solutions for the insolvency, credit and debt recovery sectors, has today announced the launch of its next generation...

RSM Restructuring secures pre-pack sale of retail business, saving over 260 jobs

Gareth Harris and Lee Lockwood of RSM UK Restructuring Advisory LLP were appointed joint administrators of Shuropody Retail Limited (the “Company” or...

Monavate becomes one of first organisations in Europe to successfully certify against PCI DSS v4.0

Monavate, the cloud-based payment solutions provider, is making it quicker, simpler and more convenient to launch secure payment solutions. The Cambridge-based...

One in four Brits are relying on credit cards to fund Christmas this year

As we enter December, preparations are well underway for the festivities, but how are people in the UK coping financially with the cost-of-living strain?...

Sensée’s LiveDesk hybrid working collaboration application now available through the G-Cloud 13 Government Framework

Sensée is delighted to announce that its LiveDesk™ application to create Digital Workplaces for hybrid working front and back-office environments is now...

Prompt Payment Law Urged to Boost UK Economic Revival

Delegates at the National Enterprise Network Annual Conference have called on the government to introduce stricter laws around prompt payment for businesses to...

Government Minister Lord Offord Joins PRA Group’s Celebration of 10 Years in the UK

PRA Group, Inc. (Nasdaq: PRAA), a global financial services company, today celebrated 10 years of operating in the UK. UK Government Minister for Scotland...

£0 to £63,000 in 24 mins – AutoCoinCars announces payment partnership with Modulr

AutoCoinCars, the marketplace that allows dealerships to advertise their vehicles for sale to cryptocurrency users, has today announced a partnership with...

Sigma Connected announces UK jobs boost for 2023

UK business outsourcing specialist Sigma Connected has announced it is creating hundreds of new jobs as part of its ongoing growth plans. Sigma, which offers...

Paymentology customer, Tweeq, among first fintechs in Saudi Arabia to receive license from Saudi Central Bank

Paymentology, the world’s first truly global issuer-processor, is today proud to announce its support of customer Tweeq, a leading Saudi Fintech, on being...

StepChange appoints Charlotte Chambers as Chief Technology & Information Officer

StepChange is delighted to announce the appointment of Charlotte Chambers to head up the charity’s vital ongoing technology investment and transformation...

Ecospend announces partnership with revenue collections and payment solutions provider Telsolutions

Ecospend, the UK’s leading Open Banking payment provider, today announces its partnership with Telsolutions, the specialist in multi-channel communication...

Paylink Solutions and Ecospend celebrate Open Banking award win

Paylink Solutions and Ecospend are celebrating a win after a successful time at the Credit & Collections Technology awards. Fintech Paylink Solutions and...

First bailiff regulatory body launches as research finds 1 in 4 people in England and Wales are very worried about getting into serious debt

The Enforcement Conduct Board (ECB) is the new independent oversight body for the enforcement industry (bailiffs) set up to ensure that all those who are...

First bailiff regulatory body launches as research finds 1 in 4 people in England and Wales are very worried about getting into serious debt

The Enforcement Conduct Board (ECB) is the new independent oversight body for the enforcement industry (bailiffs) set up to ensure that all those who are...

Future of Payments survey finds increasing consumer trust towards digital payment methods versus traditional debit and credit cards payments

A survey of more than 2,200 people across the United Kingdom and United States has found that Digital Wallet payments, such as Apple Pay, Google Pay or PayPal,...

RSM UK reports annual revenue rise of 13% to £425.4m

Leading audit, tax and consulting firm RSM UK announces a 13% (£49m) increase in UK annual revenues to £425.4m for its financial year ending 31 March 2022....

Yooz Wins Award for Accounts Payable/Invoicing Product of the Year

This month Document Manager, the UK’s only specialist magazine dedicated to document and content management technologies, released the winners of the 2022...

Solicitors warned about involvement in SLAPPs

Solicitors have been told to guard against getting involved in litigation aimed at silencing legitimate critics, known as strategic lawsuits against public...

New survey and report show court users calling for 2023 as the year to make freedom of choice a reality

A new survey of court users has found the vast majority are calling for greater freedom of choice over how their judgments are enforced – with 97% supporting...

Together Financial Services – Q1 2022/23 Results

Together Financial Services Limited (‘Together’ or ‘the Group’), one of the UK’s leading non-bank relationship lenders, is pleased to announce its...

Surging costs causing UK consumers to cut back on sustainable choices

Intrum’s annual European Consumer Payment Report (ECPR), which surveys 24,000 European consumers on payment behaviour and the economic outlook, shows that...

CIVEA calls for Enforcement Conduct Board to uphold standards and support vulnerable people

After two years of detailed work, the Civil Enforcement Association (CIVEA) has welcomed the launch of a ground-breaking oversight body for the civil...

Intrum UK agrees deal to acquire Capquest and Mars UK platforms from Arrow Global

Credit management services company Intrum has agreed a £36.5m deal to buy the Capquest and Mars UK servicing platforms from European fund manager Arrow...

Healthcare struggling with overdues

Accounts departments in the healthcare sector are spending twice as much time as their counterparts in the service sector chasing debts – proof that the...

Digital payments: Sella launches trial of the biometric credit card in Italy

Authorize payment transactions by simply placing your finger on your credit card, securely and quickly. Sella is launching a trial of a biometric recognition...

Lowell Third Quarter Results 2022

Lowell, a European leader in credit management services, today announces its results for the 3 months ended 30 September 2022. Commenting on today’s...

Bahamian FTX Liquidators Cite ‘Serious Fraud and Mismanagement’ in Court Filings – Comments from cryptocurrency fraud expert

“News that FTX’s liquidators have pointed to signs of serious fraud at the exchange is a major and potentially concerning development in the FTX...

Trovata Launches Free Version of its Enterprise-Grade Cash Management Platform for Businesses of All Sizes

San Diego – Trovata, a global leader in enterprise cash management, has made its platform available to businesses of all sizes with a new free version. With...

PayPoint and ClearBank win prestigious accolade

Digital payments experts PayPoint and ClearBank, the enabler of accounts, real-time clearing, and embedded banking for financial institutions, have been...

CIVEA calls for Enforcement Conduct Board to uphold standards and support vulnerable people

After two years of detailed work, the Civil Enforcement Association (CIVEA) has welcomed the launch of a ground-breaking oversight body for the civil...

Jump in bill anxiety: UK consumers expect to miss payments in the next 12 months

Surging inflation has created a wave of financial anxiety as households struggle to meet their commitments. Intrum’s annual European Consumer Payment Report...

Barratt Smith Brown Announce New Partnership with Inter Credit Group

Mark Smith, Ashley Barratt and Richard Brown, owners of global debt recovery and credit management service providers, Barratt Smith Brown excited to announce a...

QUALCO boosts collections platform with Webio conversational AI messaging

Dublin, Ireland – QUALCO, an international fintech solutions provider, has partnered with customer engagement specialists, Webio to add conversational AI...

HMRC winding-up petitions help drive uptick in compulsory liquidations

According to the latest monthly company insolvency data from Gov UK, the number of registered company insolvencies in October 2022 was 1,948 representing a 38%...

Hargreaves Lansdown appoints Maike Currie as Head of Marketing Campaigns & Content

HL has appointed Maike Currie as its new head of Marketing Campaigns & Content. In her role, Maike will provide strategic direction to guide HL with...

R3 responds to October 2022 insolvency statistics

Corporate insolvencies increased by 15.7% in October 2022 to a total of 1,948 compared to September’s total of 1,684, and increased by 38.2% compared to...

Two in five established businesses fear insolvency or mass redundancies as UK heads for recession

More than two out of every five (41%) established small and medium businesses (those with between 10 and 100 employees) across the UK expect to shut their...

PCI Pal extends G-Cloud certification

PCI Pal® (LON: PCIP), the global SaaS provider of secure payment solutions, has certified as an approved supplier on the Government’s G-Cloud 13 procurement...

PwC India and HighRadius Alliance Will Help the Office of the CFO to Embrace Autonomous Finance

Houston and Delhi – PwC India and HighRadius, the Autonomous Finance Software Platform for Order to Cash, Treasury Management, and Record to Report, have...

Silent majority won’t talk about debt

Lowell’s latest Financial Vulnerability Index shows borrowing has risen dramatically since the beginning of the year. Lowell’s own research shows that over...

More significant arrears number is the one for lenders to watch – comment

Following the UK Finance arrears and possessions figures this morning, Richard Pike, Phoebus Software chief sales and marketing officer, says “Although the...

Mazuma Mobile Survey Reveals Continued Decline in UK Economy

More than nine out of 10 people say they are worried about the cost of living crisis, according to a large-scale nationwide survey undertaken by Mazuma Mobile....

Taxpayers struggling with bills jumps by a fifth – and they’re paying more too

In the 6 months since 5 April this year, 21,600 people with self-assessment tax bills have set up a time-to-pay arrangement to spread the cost. That’s up...

Time to ‘talk money’ as four in ten callers in debt wait a year before seeking advice

New analysis published today by the Money Advice Trust (the charity which runs the National Debtline service) and data company, Experian, has revealed new...

Quarter are living life on the edge of the abyss and waiting for the drop

17% of people have no savings at all according to the Money and Pensions Service, while 26% have less than £100 set aside for emergencies. This reflects HL...

Europa Investimenti appoints new Chief Executive Officer Daniele Patruno appointed CEO of Italy’s Europa Investimenti in Europe’s largest NPL market

Arrow Global Group (“Arrow Global”), a leading vertically integrated European fund manager in credit and real estate, is pleased to announce the...

Corporate insolvencies up 71% with construction and retail sectors worse hit

The latest Government insolvency statistics for Q3 2002 show a significant increase in the volume of companies in distress. There were 16,105 corporate...

Mortgage repayments hit highest point since 2010

The latest market analysis by mortgage experts, Revolution Brokers, reveals that homebuyers are now paying the most expensive monthly mortgage repayments since...

Air Europa chooses PCI Pal to enhance Contact Centre payment processes

PCI Pal® (LON: PCIP), the global SaaS provider of secure payment solutions for business communications, has implemented PCI Pal Agent Assist into Air...

Debt Recovery Fintech to Drop Fees to Help Businesses Recover Cash Amidst Recession

A debt recovery Fintech is offering businesses free access to its collections platform till the end of the year to help them recover unpaid debts as recession...

Comments on today’s Insolvency Service Q3 2022 company insolvency statistics

“The year-on-year increase in insolvencies in Q3 2022 is unsurprising given the challenging trading conditions and market volatility facing many businesses....

Response to Q3 2022 insolvency statistics

There were 5,595 seasonally adjusted corporate insolvencies in Q3 2022, a fall of 0.9% compared to Q2 2022’s figures of 5,645 and a 40.3% increase...

Ammer Malik joins Paylink Solutions as Head of Business Development

Paylink Solutions has announced Ammer Malik as its new Head of Business Development. Ammer, who has more than 21 years of experience working in the credit and...

PSR sets out final plans in its market reviews into card fees to protect businesses and consumers

Today, the Payment Systems Regulator (PSR) outlines the next stages of its two market reviews into card fees – one on scheme and processing fees, and one on...

Global insolvencies expected to rise by +10% in 2022 and +19% in 2023

After two years of decline, global business insolvencies should rise in 2022 and 2023 and catch up with their pre-pandemic levels by the end of next year. High...

EU Commission legislation for full EU-wide coverage of instant payments – reaction

Following the European Commission’s outlining its proposal for regulation on instant payments amongst banks operating in the EU, Joe Morley, Vice President...

Scotland insolvency statistics Q2 2022, R3 in Scotland response

Overall, corporate insolvency numbers (liquidations and receiverships) in Scotland for Q2 2022-2023 increased by 28% compared with Q2 2021-2022. The number of...

Debt Recovery Fintech to Drop Fees to Help Businesses Recover Cash Amidst Recession

A debt recovery Fintech is offering businesses free access to its collections platform till the end of the year to help them recover unpaid debts as recession...

Digital investment considered critical to business survival in bleak economic outlook

Over a quarter (28%) of UK middle market businesses now consider digital transformation to be their single most important area of investment, according to RSM...

Scottish insolvencies on the rise, with more to come – comments on latest AiB stats

The number of Scottish companies entering insolvency increased during the third quarter of 2022 new analysis from the Accountant in Bankruptcy (AiB) shows,...

How AI enables organisations to move from network monitoring to proactive observability

In today’s world, the volume of data and network bandwidth requirements are growing relentlessly.  So much is happening in real-time as businesses adapt and...

Provenir Named Finalist in the 2022 Fintech Futures Banking Tech Awards

Parsippany, NJ — Provenir, a global leader in AI-powered risk decisioning software for the fintech industry, today announced it has been named a finalist in...

Sidetrade launches first North America partner program with Sirius Solutions

Global AI-powered Order-to-Cash platform, Sidetrade, has launched its first North America partnership with national IT consulting services firm, Sirius...

Lowell completes acquisition of Hoist Finance UK

Lowell Group (“Lowell”), one of Europe’s leading credit management services providers, has today completed the acquisition of Hoist Finance UK (“Hoist...

RSM UK strengthens future growth with record trainee intake

RSM UK has recruited a record high of 723 new students across the UK in 2022, comfortably surpassing its previous record intake in 2021 by 20% as the firm...

Yooz, Inc. Chosen as Top 50 Providers to Watch by Spend Matters

Spend Matters®, a research-based digital social media and blog site dedicated to examining a range of procurement and supply chain issues, released its annual...

Aryza launches new embedded lending platform in partnership with Dreams

Aryza, who are leading suppliers of software solutions into the insolvency, credit and debt recovery sectors has today announced the launch of a new Embedded...

Trustfolio and Birmingham City Council awarded ‘Highly Commended’ for IRRV Excellence in Innovation Debt Management Award

‘Debt-tech’ collective Trustfolio and its Creditor Debt Solutions Platform client Birmingham City Council have been jointly awarded a ‘Highly...

Paylink Solutions and Inbest enter new partnership

Paylink Solutions has entered into an exciting new partnership with benefits digital solution provider, Inbest, to deliver precise information to customers...

Cost of living now number one cause of debt for StepChange Scotland clients

New data from StepChange Scotland shows inflated prices for energy, food and other essentials are driving new clients to its service. Data from July to...

Colin McMahon joins Sigma Connected as Director of Financial Services

Business process outsourcing provider Sigma Connected has made a senior appointment as it continues its expansion into the global financial services sector....

Mortgage repayments climb to nearly a quarter of the average household’s earnings

According to the latest research by specialist property lending experts, Octane Capital, the average household is now paying 22% of its monthly income on the...

Directors advised to act now as economic climate drives increase in insolvencies

Likely to be the start, not the peak, of insolvencies. Headwinds likely to cause issues even for better-performing businesses in the next 12 months. Corporate...

Energy providers increasingly asking for companies in debt to be shut down as energy bills crisis bites

New data from Mazars, the international audit, tax and advisory firm, shows that in the last four months, energy providers forced 20 businesses to close over...

R3 responds to September 2022 insolvency statistics

Corporate insolvencies decreased by 13.5% in September 2022 to a total of 1,679 compared to August’s total of 1,940, and increased by 15.6% compared to...

The PSR directs up to 400 firms to introduce the payment protection measure, Confirmation of Payee

Today, the Payment Systems Regulator (PSR) has confirmed its plans that will see around 400 more financial firms provide the name checking service,...

StepChange welcomes Google crackdown on advertisers, but root cause IVA problems remain

StepChange Debt Charity, which has for years been campaigning against misleading advertising by charity impersonator firms and potential IVA mis-sellers, is...

Higher energy prices putting companies at risk of insolvency

The total number of company insolvencies in England and Wales in Q2 of 2022 reached its highest level since Q3 of 2009 according to data from the Office of...

Don’t let today’s collectable debt become tomorrow’s bad debt

The economic turbulence of recent weeks suggests that now is the time for SMEs and sole traders to review their debt collection activities. With interest rates...

Validis partners with Aryza to power open finance for UK SME business lenders

Aryza, expert developers of software solutions for the sectors of insolvency, credit and debt recovery, has today announced a partnership with Validis, a...

CIVEA to encourage debt landscape discussions at GovDebt 2022

Welcoming over 200 public sector debt professionals, GovDebt brings together government finance, debt and risk professionals to review the UK public sector...

PSR finalises plans to help businesses save money on card services

Today the PSR has published its final decision confirming the changes it is making to improve card services and choice for businesses. Every time somebody buys...

Global AI firm Sidetrade chooses Calgary for North America expansion

Global AI-powered Order-to-Cash platform, Sidetrade,today announced an acceleration to its North America offensive strategy with plans to invest $24 million...

Global growth continues as Sigma Connected appoints new Chief Strategy Officer

Business outsourcing provider Sigma Connected has announced the appointment of a new chief strategy officer as the company continues its global expansion. The...

Scottish Business and Government Leaders Join PRA Group to Unveil New Office in HALO Kilmarnock

Global financial services company, PRA Group, Inc., today celebrated the grand opening of its new offices in Kilmarnock’s HALO Enterprise and Innovation...

Money and Pensions Service announces intention to award contracts for national and business debt advice services and the administration of debt relief orders in England

Today, the Money and Pensions Service is announcing the outcome of its debt advice commissioning process for England, through which it is providing more...

UK-fintech Ebury enrols in Amazon’s Payment Service Provider Program

Ebury, a global fintech, is delighted to announce that it has become a member of Amazon’s Payment Service Provider Program (the Program) meaning that sellers...

EY UK&I announces new Leaders for EY-Parthenon

EY has announced the appointment of two new UK & Ireland (UK&I) leaders in its Strategy practice, EY-Parthenon. In a newly created position, Alan...

PwC India and HighRadius Alliance Will Help the Office of the CFO to Embrace Autonomous Finance

Houston and Delhi – PwC India and HighRadius, the Autonomous Finance Software Platform for Order to Cash, Treasury Management, and Record to Report, have...

PCI Pal partners with Virgin Atlantic to secure its international omnichannel payments

PCI Pal® (LON: PCIP), the global provider of secure payment solutions, has today announced that its solution, PCI Pal Digital Payments, has been selected by...

Answer Pay and Partner Hub join forces to improve cash flow in Europe’s €1.2Bn e-invoicing market

As the cost of living crisis increasingly bites many businesses are struggling to collect payments from their customers. Subscription numbers are declining and...

Chartered Institute of Credit Management Appointed Official Assessor for the High Court Enforcement Officers Association

The Chartered Institute of Credit Management (CICM) and the High Court Enforcement Officers Association (HECOA) have formed an official partnership for the...

Simplifying voice-led unified communications for both public and private sectors

Conversant Technology is delighted to announce the forthcoming launch of its new complete communications solution – Conversant 360 – whose goal is to put a...

Creator Banking App Nerve Announces New Invoicing Feature

Nerve, the banking app designed for creators, has unveiled a brand-new invoicing feature making it easier than ever for users to run their businesses. The app...

Sequestration limit change could lead to flurry of bankruptcies in Scotland

The reduction of the limit for sequestration proceedings at the end of this week could lead to a wave of smaller businesses in Scotland being made bankrupt,...

Indigo Cloud appoint Ian Simpson

Indigo Cloud Limited have appointed Ian Simpson as Director of Business & Client Development where he will be defining new market strategies, driving...

Saltare Joins the Good Business Charter and Prompt Payment Code in commitment to best business practice

Early Payments Fintech, Saltare, has joined the Good Business Charter (GBC) and Prompt Payment Code (PPC) as signatories as part of its commitment to best...

Vulnerable people most likely to be moved onto high-cost prepayment meters

While millions of UK households prepare to face a difficult winter with soaring energy bills, it will be the UK’s four million people on the more expensive...

PayPoint and Engage Hub deploys a new collaborative PCI-compliant payment solution

Digital payments expert, PayPoint, has strengthened its partnership with a leader in the provision of journey orchestration and cross-channel communications,...

R3 unveils anti-fraud proposals

R3, the insolvency and restructuring trade body, has published a policy paper containing a number of recommendations to improve the UK’s fight against fraud....

One in three UK mortgage customers fear unaffordable repayments due to rate hikes

One in three mortgage customers in the UK say that rising interest rates mean they cannot afford their repayments, new research commissioned by Butterfield...

Even in a Crisis, the Best Collections Are Avoided Collections

With a cost-of-living crisis and soaring energy costs across Europe and other countries, it’s important to re-evaluate debt collections and customer risk...

Target Group bolsters its Executive Team as it transitions to new leadership era

Target Group, the operational transformation, business processing and software provider has today announced leadership changes across its Executive Team. These...

Call for Emergency Budget to offer more support for struggling firms as cash flow pressures drive surge in insolvencies

Emergency Budget opportunity to provide lifeline to struggling firms Insolvencies 42% higher than pre-pandemic levels Headwinds likely to cause issues even for...

R3 responds to August 2022 insolvency statistics

Corporate insolvencies increased by 5.5% in August 2022 to a total of 1,933 compared to July’s total of 1,832, and increased by 43.4% compared to August...

Azzurro Law announces senior appointment to further strengthen team

Azzurro Law, a specialist commercial debt collection and legal recoveries firm, has appointed Brendan Clarkson FCICM as its new Client Services Director to...

30% of Consumers turn to WhatsApp for debt-related customer service

Customers are demanding as many as seven different ways to interact with payment and collections teams, including newer channels not commonly known for...

UK Cards in a Crisis: What Can We Learn from the Financial Crash of 2008?

As the UK economy transitions from the pandemic to the cost-of-living crisis, is there anything that can be learnt from how the 2008 financial crisis impacted...

Banks and building societies ramp up protections to tackle Authorised Push Payment scams

Signatories to the CRM Code, governed by the LSB, have made strides forward in their effort to stamp out transactions resulting in Authorised Push Payment...

Borrowing is not a choice but a necessity for many, shows latest Financial Vulnerability Index

As UK households are hit by unprecedented levels of inflation, the latest update to Lowell and the Urban Institute’s Financial Vulnerability Index (FVI), the...

Target Group appoints John Barker as CEO

Target Group, the operational transformation, business processing and software provider appoints John Barker as CEO. Roger Newman will step back as Chief...

Phillips & Cohen Associates announces hiring of Janneen Jackson

Phillips & Cohen Associates, Ltd. (PCA), the global leader in deceased account management and debt settlement servicing, with clients in the United States,...

Lowell appoints Clodagh Gunnigle as Non-Executive Director

Lowell Group (“Lowell”), one of Europe’s leading credit management services providers, has appointed Clodagh Gunnigle as Non-Executive Director (NED) to...

Digital payments + fraud + inflation = potential disaster without an automated dispute management solution

“As the rapid uptake of digital payments has sky-rocketed over the last year, so has fraud. Tack on inflation and you now have businesses that are cash...

Mortgage services provider Stater sees opportunities in pan-European mortgage market

AMERSFOORT, The Netherlands – Stater CEO Erwin Dreuning and brand-new commissioner Frans van der Horst talk about the European opportunities they see for...

HCEOA launches new Supporting Court Users survey

The High Court Enforcement Officers Association (HCEOA) has launched a new survey as part of its ‘Supporting Court Users’ campaign, which aims to give...

Indesser recovers £3 billion for taxpayers

Indesser reported today that it has recovered £3 billion of money for taxpayers since 2015. This represents a key milestone in the government’s debt...

Lowell Second Quarter Results 2022

Lowell, a European leader in credit management services, today announces its results for the 3 months ended 30 June 2022. Commenting on today’s announcement...

Phillips & Cohen Associates hires Saima Hassan as Director of Operations for The Estate Registry UK

Phillips & Cohen Associates, Ltd. (PCA), the global leader in deceased account care servicing and technology solutions, servicing clients in the United...

Lloyds Banking Group Contract

Smoove plc (AIM: SMV), the customer focused technology and services business aiming to simplify and revolutionise home moving and ownership, announces that it...

Duologi go live with LendingMetrics’ ADP

Forward-thinking payment partner Duologi have successfully gone live with LendingMetrics’ Auto Decision Platform (ADP). Duologi, which specialise in...

Channel announces Ion Fratiloiu as new Chief Commercial Officer

Ion Fratiloiu has joined Channel Capital Advisors LLP (Channel) as its new Chief Commercial Officer. Fratiloiu will be driving Channel’s new digital lending...

Contactless makes up a third of all payments, while cash use falls again in 2021

UK Finance has published its latest Payment Markets Report, reporting on payment trends during 2021 and forecasting what we expect to happen by 2031. Key...

Rising costs and cash flow pressures squeezing businesses – company insolvencies up 67% year-on-year

27% higher than pre-pandemic levels One-month increase of 7.5% from June 2022 Headwinds likely to cause issues even for better-performing business in the next...

R3 responds to July 2022 insolvency statistics

Corporate insolvencies increased by 7.5% in July 2022 to a total of 1,827 compared to June’s total of 1,699, and increased by 66.7% compared to July...

UK Services sector responsible for the biggest month-to-month spike in overdue invoices last month

The global AI-powered Order-to-Cash platform, Sidetrade, reveals late payment trends by UK companies in July 2022 from the Sidetrade Unpaid Invoice Tracker –...

A third of SMEs set to fold without further funding, new study reveals

A survey of 500 UK SMEs has found: A third (33%) of SMEs say their survival is dependent on accessing finance by the end of the year 32% have no financial plan...

HighRadius Named To The Forbes Cloud 100 Third Year In a Row

HOUSTON & SAN FRANCISCO – HighRadius the leading provider of Autonomous Finance Software for Order to Cash, Treasury and Record to Report, has been named...

Capita Experience appoints four new client partners to expand financial services offering

Capita Experience, part of Capita plc, has appointed four new client partners within its financial services business for motor finance, mortgages, retail...

Personal insolvencies fall 10% despite cost-of-living crisis – but experts warn it cannot last

The number of personal insolvencies in the UK has fallen 10% from 32,197 in the first quarter of the year to 28,946 in the second quarter* says Mazars, the...

Personal insolvencies continue to rise year-on-year despite quarterly drop

The number of individuals entering a personal insolvency procedure remains high with a 7% increase on the same quarter last year. Q2 2022 marked the eighth...

Q2 insolvency stats reveal the cliff edge of company insolvencies

“The continued rise in insolvencies, and CVLs in particular, clearly demonstrates that the predicted ‘cliff edge’ of company insolvencies coming out...

Comments on today’s Insolvency Service Q2 2022 company insolvency statistics

“The 81% year-on-year increase in the number of UK company insolvencies in Q2 2022 has, once again, been largely driven by a significant rise in Creditors’...

R3 responds to Q2 2022 insolvency statistics

There were 5,629 seasonally adjusted corporate insolvencies in Q2 2022, an increase of 12.7% compared to Q1 2022’s figures of 4,995 and an increase of...

Sharp rise in volume and value of CCJ debt registered against consumers and business in England & Wales

Registry Trust, the not-for-profit organisation which maintains the Register of Judgments, Orders and Fines for the UK & Ireland, has released its Q2 2022...

Target sets sights on growth with promotion of Mark Gilliver

Target Group, the operational transformation, business processing and software provider has today announced the promotion of Mark Gilliver to Chief Growth...

Recession risk sparks concern in SMEs as demand for finance rises

Small business owners are concerned about the possibility of a recession, according to iwoca’s latest quarterly SME Expert Index. With both the cost of...

Debt charities call on Ofgem to “ramp up” protection for people with energy debt

The UK’s three largest debt charities have called on the energy regulator Ofgem to urgently increase protections for people with energy arrears, as rising...

1,487 per cent increase in rental property repossessions

Industry analysis by Landlord Action, housing law specialist and part of the Hamilton Fraser Group, has revealed that the number of rental property...

Scotland insolvency statistics Q1 2022, R3 in Scotland response

Overall, corporate insolvency numbers (liquidations and receiverships) in Scotland for Q1 2022-2023 rose by 49.1% compared with Q1 2021-2022. The number of...

Norton Broker Services adds TAB to lender panel

Norton Broker Services has added TAB to its panel of lenders. The agreement means that brokers using Norton Broker Services now have access to a range of first...

PayU appoints industry heavyweight as Global Payments CFO to drive further business growth

Amsterdam, Netherlands – PayU, the leading online payment service provider operating in 50 emerging markets, has today announced the appointment of...

Norton Home Loans partners with TMG

Norton Home Loans has partnered with The Money Group (TMG) network, enabling TMG brokers to access its full range of specialist mortgages. Norton Home Loans...

Freedom Finance selects OMS as back-office processing support

Freedom Finance has selected One Mortgage System (OMS), the seamless single-input enquiry-to-completion processing platform for brokers, to be its back-office...

National Express improves security and flexibility with 8×8 and PCI Pal

National Express, the largest scheduled coach operator in the UK, has chosen the 8×8 XCaaS™ (eXperience Communications as a Service™) integrated cloud...

Be A Know-it-all: The solution to the £61 billion late payment problem has launched

Know-it, a Scottish fintech start-up, has officially launched their cloud-based credit management platform. Founded by Lynne Darcey Quigley, the new platform...

Arrow Global opens Luxembourg office to support ongoing Fund Activities

Luxembourg City – Arrow Global Limited (“Arrow Global”), a leading European investor and alternative asset manager in credit and real estate, is pleased...

PSR annual report highlights robust action and progress in protecting people

Today, the Payment Systems Regulator (PSR) has published its annual report and accounts for 2021/22, setting out how it made a difference over the past...

Conversant Technology expands in the US

After a period of intensive growth, UK-based Unified Communications provider Conversant Technology is adding to its existing US presence with a new office in...

Paystand Launches the World’s First AR-Centric Dynamic Discounting Application, Powered by Blockchain Smart Contracts

Paystand, the leader in blockchain-enabled B2B payments, today launched the world’s first dynamic discounting application designed for seller accounts...

Insolvency statistics reveal 40% increase on June last year – comment

“Today’s insolvency statistics contained few surprises, creditors’ voluntary liquidations (CVLs) have continued to outnumber other types of company...

R3 responds to June 2022 insolvency statistics

Corporate insolvencies decreased by 7.2% in June 2022 to a total of 1,691 compared to May’s total of 1,822, but were still 40.1% higher compared to June...

DCBL scoops Best Use of Technology Award for its parking charge communications and payments transformation

Ethical debt collection firm, DCBL has won the Best Use of Technology at the Credit Awards 2022 for its partnership with Webio, a leading AI customer...

The High Court gives permission to serve court documents by NFTs

On 24 June 2022, the High Court of England and Wales granted an order permitting service of court proceedings via the transfer of a token on the blockchain in...

Industry trade body urges HM Treasury to prioritise modernisation of consumer credit regulations

After many years making the case for change, the Credit Services Association (CSA), the UK trade body for the debt collection and debt purchase industry, has...

Registry Trust calls for stakeholders to back new Register of Partial Settlements

Registry Trust, the not-for-profit organisation which maintains the Register of Judgments, Orders and Fines, is calling on stakeholders from across the credit...

A Commercial and Compleat payment solution

Organisations looking to complete their digitisation journey can now increase the control and visibility of their purchase to pay functions thanks to a new...

Phoebus Software Limited trains up mental health first aiders

Phoebus Software Limited (PSL) has introduced mental health first aiders into its workplace to help anyone who needs support. Five employees are now qualified...

Awards to Celebrate Outstanding Performance in Collections and Debt Purchase Sector now open for nominations

The Credit Services Association, the trade association for the debt collection & purchase sector, has launched this year’s Membership Awards which is...

TPAY MOBILE’s Founder and CEO Sahar Salama hands over CEO responsibilities to become Group Chairwoman

UAE: TPAY MOBILE, the leader in mobile payments in the Middle East, Africa, and Turkey (META), today announces it has appointed Gaston Aussems, previously CEO...

Lowell Group deepens board experience with Sally-Ann Hibberd Appointment

Lowell Group (“Lowell”), one of Europe’s leading credit management services providers, has appointed Sally-Ann Hibberd as an Independent Non-Executive...

Enforcement Industry Association Announces 25th Anniversary Conference

LACEF the association for local authority staff employed in managing debt and recovering debt for councils, has announced the details for its upcoming...

Pay.UK and PayPoint enable government cost-of-living support payments to the financially vulnerable

Pay.UK today announces that PayPoint has joined the Confirmation of Payee name-checking service. This will extend the offering to PayPoint’s local government...

Sigma Connected secures Yu Energy contract

A UK business outsourcing specialist has been awarded a contract by business energy and water operator Yu Energy to provide contact centre support for outbound...

International debt collection: Where is the most difficult place to collect your debts?

The third edition of the Allianz Trade Collection Complexity Score provides a simple assessment of how difficult it is to collect debt, helping to support...

Teleperformance UK selects PCI Pal to secure expanding payment methods for global enterprise customers

PCI Pal® (LON: PCIP), the global SaaS provider of secure payment solutions, has today announced a partnership with Teleperformance Limited a leader in...

receeve partners with Paylink Solutions technology to support financially vulnerable customers

The collections & recovery platform, receeve, has announced a new partnership with Paylink Solutions to provide a simple, efficient way to carry out...

Aryza announces launch of new performance management tool

Aryza, expert developers of software solutions for the insolvency, credit and debt recovery sectors, has launched a new performance management product,...

UNO Digital Bank to use AI to empower staff and delight customers

UNOBank Inc. will use BUSINESSNEXT solutions to power UNO Digital Bank’s customer relationship management (CRM) systems. The artificial intelligence (AI)...

HCEOA welcomes appointment of Board members at Enforcement Conduct Board

The High Court Enforcement Officers Association (HCEOA) welcomes the appointment of four new Board members to the Enforcement Conduct Board (ECB), which is due...

CSA CEO Elected to the Board of FENCA

Chris Leslie, Chief Executive of the Credit Services Association (CSA), the UK trade body for debt collection and debt purchase, has been elected to the board...

Enforcement Conduct Board announces new board appointments

The Enforcement Conduct Board, the new independent regulator for the enforcement industry (bailiffs) across England and Wales due to launch in autumn 2022, is...

Midlands refugee charity benefits from £1,000 Sigma donation

A Midlands-based business outsourcing firm has donated £1,000 to a charity which provides free guidance and advice on immigration, destitution and...

Aryza announces the launch of Aryza North America

Aryza announces significant changes to the management team and expansion into new markets to support insolvency and lending businesses. A new CEO has been...

Over one in five Brits suffer from mental health issues due to their financial situation

Over the past 90 days, in the UK search terms[2]  for ‘I can’t afford my bills’ (+400) and ‘I am worried about money all the time’ (+300%) have...

PayPlan partners with National Bereavement Service to support people following the death of loved ones

Free debt advice provider, PayPlan, has launched a new partnership with the National Bereavement Service (NBS) to provide practical, emotional and financial...

Lowell backs radical rethink of financial education in Britain

Lowell Group (“Lowell”), one of Europe’s leading credit management services providers, is pleased to partner with the Centre for Social Justice...

Sensée’s Jo Hodge named Outsourced Contact Centre Manager of the Year

Sensée Service Delivery Manager Jo Hodge has been named the Gold winner in the ‘Outsourced Contact Centre Manager of the Year’ category of the...

Arvato Financial Solutions becomes Riverty

Arvato Financial Solutions becomes Riverty. The company aims to be a thought leader in the FinTech world using financial technologies, data and process...

Stenn welcomes new Chief Product Officer

Stenn, the leading digital financing platform for global SMEs, is pleased to announce the appointment of Bilal Bajwa to the new position of Chief Product...

Stagflation fears: UK businesses brace for jump in late payments during second half of 2022

Intrum’s annual European Payment Report (EPR)*, a survey of 11,000 companies across 29 European countries, shows that businesses are expecting late payments...

Will the number of compulsory liquidations continue to increase?

Figures released by the Insolvency Service for May 2022 show a 42 per cent increase in the number of compulsory insolvencies in England and Wales compared to...

MaPS comment on Treasury Buy Now, Pay Later proposals

“Research from our Debt Need Survey, which measures how many people need debt advice in the UK, has shown that four in ten people (38%) who had used Buy Now,...

R3 responds to May 2022 insolvency statistics

Corporate insolvencies decreased by 8.9% in May 2022 to a total of 1,817 compared to April’s total of 1,995, and increased by 79.2% compared to May...

Omnichannel Communications Critical for Lenders To Be Able To Respond to FCA Call for ‘Cost-of-Living Crisis’ Customer Support

Responding to the FCA’s call for lenders to support customers facing financial distress, global analytics software firm FICO is highlighting the importance...

Apex Litigation Finance to appoint Stephen Allinson as ‘Head of Legal’

Litigation funding specialists, Apex Litigation Finance have announced the appointment of Stephen Allinson, Solicitor and Licensed Insolvency Practitioner, as...

FCA: Banks aren’t offering struggling borrowers enough support

The FCA says lenders need to work harder to understand the problems people are facing, so they can offer the right support. They’re worried that vulnerable...

Webio secures $4m to scale Conversational AI in the collections and payments industry

Irish start-up Webio, a leader in Conversational AI in the credit, collections and payments industry, has today announced a series A funding round led by Finch...

Sigma Connected celebrates multiple wins at Cape BPO Awards

Business outsourcing firm Sigma Connected has triumphed in a number of categories at one of South Africa’s most prestigious industry awards. Sigma Connected,...

Paradigm appoint new Mortgage Helpdesk Manager

Paradigm Mortgage Services, the mortgage services proposition, has today announced the appointment of a new Mortgage Helpdesk Manager. Diane Jones joins...

Money Advice Trust publishes its latest Outcomes Report

The Money Advice Trust has published its Outcomes Report 2021, which outlines the impact of the charity’s activity across its National Debtline and Business...

Lawton Hathaway to forge a new era of success as Hill returns

Daniel Hill has returned to credit management solutions specialists Lawton Hathaway after founding the company in 2009. Hill, who helped steer major successes...

CIVEA contributes to Levelling Up, Housing and Communities Committee

CIVEA gave evidence this week to the House of Commons Levelling Up, Housing and Communities (LUHC) Select Committee inquiry into Council Tax collection. The...

PayByPhone adopts Yooz AI software to make accounts payable effortless

Parking mobile app & payment solution, PayByPhone, has announced the integration of Yooz real-time automated purchase-to-pay (P2P) software to simplify its...

Managing inflation during ongoing uncertainty

With inflation pushing 10%, businesses of all sizes are concerned to know just how this will impact them amid the ongoing cost of living crisis. Inflation hits...

PayU strengthens presence in Africa with Ghana entry and new BNPL and QR-based product offerings

South Africa/London: Today, PayU, the leading online payment service provider operating in 50 emerging markets, announces that it is strengthening its foothold...

PIMFA welcomes Financial Conduct Authority ban on Claims Management ‘phoenxing’

PIMFA, the trade association for the wealth management, investment services and the investment and financial advice industry, welcomes today’s announcement...

MorganAsh adds Vulnerability Registration Service to MARS vulnerability tool to reinforce consumer protection

Leading support services provider MorganAsh has integrated the Vulnerability Registration Service (VRS) with its own innovative MARS resilience tool, making...

Ardent celebrates its silver jubilee

Liverpool-based debt recovery and credit management services provider, Ardent Credit Services, is celebrating reaching its silver jubilee in June 2022. The...

New Early Pay Product to Help Businesses Improve Relations and Manage Cashflow

A new digital based solution, Early Pay, designed to incentivise larger organisations and local authorities to pay their suppliers before an invoice is due and...

‘A ticking time bomb’

As economic indicators falter, the UK is facing a significant rise in debt, and the collections industry needs to react with the best technology James...

Deploying digital starts with great conversational design

The industry needs to consider how to build true digital customer conversations, rather than simply having different interactions By Mark Oppermann, Head of...

Double standards on payments: UK businesses squeezing suppliers

Businesses are paying their suppliers even later, despite admitting that they have a responsibility to smaller firms, according to early findings from the 2022...

Yobota announces partnership with BNPL startup Tranch, following funding round

Yobota has today announced its partnership with Tranch, a buy now, pay later (BNPL) startup platform on a mission to deliver more flexible payments to...

New Early Pay Product to Help Businesses Improve Relations and Manage Cashflow

A new digital based solution, Early Pay, designed to incentivise larger organisations and local authorities to pay their suppliers before an invoice is due and...

Awards to Celebrate Outstanding Performance in Collections and Debt Purchase Sector now open for nominations

The Credit Services Association, the trade association for the debt collection & purchase sector, has launched this year’s Membership Awards which is...

Trustly acquires Ecospend, further strengthening position in the UK

Stockholm (Sweden) – Trustly, the leading global payments platform for digital Account-to-Account transactions (“A2A”) today announces the acquisition of...

Bristow & Sutor Group promotions highlight commitment to collaboration

The Bristow & Sutor Group is a partnership between Debt Recovery Plus (DRP), Credit Style, and Bristow & Sutor. Over the past year, all three...

South East home to the highest number of repossessed homes for sale

Research by property purchasing specialist, HBB Solutions, has revealed that South East is currently home to the most repossessed homes and the high cost of...

Lowell First Quarter Results 2022

Lowell, a European leader in credit management services, today announces its results for the 3 months ended 31 March 2022. Commenting on today’s announcement...

HMRC records over 3 million chatbot interactions since the start of the pandemic

Her Majesty’s Revenue & Customs (HMRC), the UK government department responsible for tax collection, has seen the number of interactions with its chatbot...

PSR announces plans to make more financial firms provide Confirmation of Payee

Today, the Payment Systems Regulator (PSR) has announced its plans that will see around 400 more financial firms provide Confirmation of Payee (CoP). This...

CSA Crowned Lincolnshire Apprenticeship Training Provider Champion

The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase industry, has been recognised at the Lincolnshire Apprenticeship...

EML Open Banking Expands Into 20 New Countries To Complete Its Coverage Of Europe

Nuapay (EML Payments Limited’s (ASX: EML) Open Banking business), is now connected to banks in another 20 countries in Europe, becoming one of the first...

Cash flow pressures drives over 100% rise in insolvencies

Insolvency figures released for April 2022* by the Government’s Insolvency Service showed corporate insolvencies more than doubled compared to the same month...

West Midlands children’s charity benefits from £1,000 donation

A Midlands business outsourcing firm has donated £1,000 to a charity which supports vulnerable and distressed children across the region. Sigma Connected,...

Decline in Consumer CCJs in England & Wales in first quarter of 2022

Registry Trust, the not-for-profit organisation which maintains the Register of Judgments, Orders and Fines for the UK & Ireland, has released its monetary...

Arrow Global launches Portfolio Diagnostic solutions service exclusively for Creditors

Arrow Global, a leading European investor and asset manager in consumer credit, is pleased to announce the launch of its Portfolio Diagnostic Solution to the...

UK insolvencies to increase by more than a third in 2022

The UK will be the first major European economy to reach pre-pandemic levels of business insolvencies, with a forecast increase of 37% in 2022, according to...

TransUnion Enables Free Credit Education via the New Lowell App

TransUnion has strengthened its partnership with Lowell, one of the largest credit management companies in Europe, to provide their UK customers with a...

2 in 3 Brits dealing with traditional debt collectors experience “stressful” treatment

InDebted, the fast-growing global fintech aiming to transform the consumer experience of debt, reveals new research highlighting the impact of the UK’s...

R3 responds to April 2022 insolvency statistics

Corporate insolvencies decreased by 6% in April 2022 to a total of 1,991 compared to March’s total of 2,119, and increased by 115.2% compared to April...

Paysafe launches unified payments partnership with Strive Gaming

Paysafe (NYSE: PSFE), a leading specialized payments platform, today announced a new partnership with Strive Gaming, an advanced player account management...

New partnership aims to give best in class invoice automation

Two finance solution specialists have announced they are teaming up to help the accounting industry improve their financial spending and customer experience....

Half of 18-34 year olds forced to borrow money to manage spiralling fuel prices

Close to half of 18-34 year olds are struggling with fuels and cost of living rises, forcing them to borrow money from friends, family – or even banks....

Engage Post Office payments solution means more people can access cash services

Engage, the community banking division of Contis-Solaris, has today announced the integration of Post Office payments to ensure more people, including those in...

StepChange Scotland reports client average arrears on essential bills increased by 29% in one year

New figures from StepChange Debt Charity Scotland paint a worrying picture of its client finances in 2021, with client average arrears on essential bills...

R3 welcomes the announcement of the Economic Crime and Corporate Transparency Bill

Responding to the confirmation of a new Economic Crime and Corporate Transparency Bill, which was announced in today’s Queen’s Speech, Christina...

Significant rise in CCJs against UK & Ireland businesses in Q1 2022

Registry Trust, the not-for-profit organisation which maintains the Register of Judgments, Orders and Fines for the UK & Ireland, has released Q1 2022...

emerchantpay partners with APEXX Global to expand acquiring coverage

emerchantpay, a leading payment service provider and acquirer, has formed a strategic partnership with APEXX Global, a multi-award-winning global payments...

Arrow Ireland appoints new Director of Asset Management

Arrow Global Limited (‘Arrow Global’), a leading European investor and alternative asset manager in credit and real estate, is pleased to announce the...

Bristol Based Fintech Aiming to Help Businesses Access Cash Faster and Bring Certainty to Payments

A new Bristol based Fintech, Saltare, has opened its doors to help businesses across the UK to improve cashflow, strengthen supply chain relationships and give...

Lowell continues development of UK team with four new senior hires

Lowell Group (“Lowell”), one of Europe’s leading credit management services providers, has appointed Louis Brook as UK Chief Information Officer, Jill...

Infinity launches tailored agent training solution for contact centres

Infinity has announced the launch of ‘Agent ID’ and ‘Outbound call tracking’ – representing a significant improvement to its contact centre offering....

HighRadius Positioned as a Leader in First-Ever Gartner Magic Quadrant for Integrated Invoice-to-Cash Applications

HighRadius, the leading provider of Autonomous Finance Software, today announced it has been named a Leader in the 2022 Magic Quadrant for Integrated...

Paylink Solutions team expands with two senior appointments

Fintech Paylink Solutions has expanded its senior team by a new head of operations and head of information security. Joe Clarke is now Head of Operations and...

Trade body raises concerns over targets set for free-to-client debt advice

The Credit Services Association (CSA), the UK trade body for debt collection and debt purchase, has released a new report exploring the provision of debt...

Sidetrade reveals B2B global payment trends from its unique Data Lake – industry-first predictive payment intelligence map of 20.7 million companies worldwide

Sidetrade, the international AI-powered Order-to-Cash platform, has today revealed global payment trends from the Sidetrade Data Lake. Never-before-seen in the...

Mutual legal assistance

The issue of mutual legal assistance has not tended to dominate the headlines. But it seems to be on the minds of some who move in important circles. The next...

New President at insolvency and restructuring trade body R3

Edwin Coe LLP Partner Christina Fitzgerald has been appointed President of insolvency and restructuring trade body R3. As President, Christina will work with...

Recovery in Scottish business optimism dampened by rising costs

Boosting local economies must be the priority for incoming councillors, a business leader has warned as new figures show weak Scottish business confidence....

Scotland insolvency statistics Q4 2021-2022 – R3 in Scotland response

Overall, corporate insolvency numbers (liquidations and receiverships) in Scotland for Q4 2021-2022 were 164% higher compared with Q4 2020-2021, at 240...

PCI Pal partners with Odigo to provide secure payments

PCI Pal® (LON: PCIP), the global provider of secure payment solutions, has today announced a mutual partnership with leading Contact Centre as a Service...

Businesses suffering ill-effects of poor data in collecting debts

Businesses of all sizes are struggling to collect debts because the key contact details they had for each customer before the pandemic have not been updated....

Lowell reports full year 2021 results

Lowell today announces its full-year results for the 12 months ended 31 December 2021. Commenting on today’s announcement Colin Storrar, Group Chief...

Intrum Extends Global IT Services Contract with Fujitsu

Intrum has signed a new five-year global IT infrastructure outsourcing contract with Fujitsu. The contract with Fujitsu was renewed following a competitive...

Bristol Based Fintech Aiming to Help Businesses Access Cash Faster and Bring Certainty to Payments

A new Bristol based Fintech, Saltare, has opened its doors to help businesses across the UK to improve cashflow, strengthen supply chain relationships and give...

111.6% annual increase in corporate insolvencies – comments

Corporate insolvencies increased by 39.4% in March 2022 to a total of 2,114 compared to February’s total of 1,517, and increased by 111.6% compared to March...

Intrum adds strategic appointments as UK business continues growth phase

Credit Management Group Intrum UK has continued to expand its team with the addition of David Price as Compliance Director and David Stranaghan as Strategic...

Insolvencies set to increase as government support ends

Despite a return to normal for many economies in 2022, insolvencies are set to rise reports leading trade credit insurer, Atradius. In its latest Insolvency...

UK’s Sigma Connected launches new South African venture

Respected UK business outsourcing firm Sigma Connected has announced its entry into South Africa’s domestic market in a move which will create up to 1,000...

Qualco UK goes live with Open Banking Solutions

Qualco UK today went live with two new solutions, featuring open banking technology delivered by a number of key partners. Working with Ecospend and Themis...

Arum welcomes Steve Coppard, joining as new Group Director of Debt Policy and Strategy

Arum is delighted to announce the appointment of Steve Coppard, who will join on 3 May as its Group Director of Debt Policy and Strategy. In this newly created...

ArK Kapital and Pollen Street Capital sign SEK1.5bn senior secured debt facility to help startups grow smarter through AI-powered financial forecasts and non-dilutive funding

ArK Kapital – the data-driven precision finance company enabling startups to grow smarter through long-term loans, maintaining control for founders and...

Sigma Connected bolsters senior management team

A leading business outsourcing provider has announced the appointment of a new senior director who will support and develop the company’s renowned offshore...

McCambridge Duffy adopt new ‘debt-tech’ solution

McCambridge Duffy are set to be one of the first Insolvency Practitioners (IPs) in the UK & Ireland to adopt a new ‘debt-tech’ solution, to create a...

Empathetic leaders are key to employees navigating the cost of living crisis

With the constant stream of stories relating to the rise of living costs, from heating homes to commuting to work, it is evident that everyone is being...

New report from EQ Credit Services shows credit providers’ environmental credentials still a priority for UK borrowers despite financial squeeze

Rising inflation, spikes in fuel prices and the growing cost of living crisis haven’t dampened UK borrowers’ climate conscience according to a new report...

HighRadius Hosts Finance Leaders at Radiance 2022 to Discuss the Future of the Office of the CFO

HighRadius, the Artificial Intelligence-powered Order to Cash, Treasury Management, and Record to Report software leader, has announced Radiance 2022, to be...

45,000 overpay almost £17 million on their student loans

In 2020/21, 45,264 graduates overpaid their student loans, because their payments didn’t stop once the debt was settled. The average overpayment was £375....

Bristow & Sutor Group walk triangle of 3million steps for Debt Awareness Week

Staff at the Bristow & Sutor Group, one of the UK’s leading players specialising in debt resolution, has exceeded its walking target by recording over...

PSR Annual Plan puts focus on improving confidence and choice for payment systems users

Today, the Payment Systems Regulator (PSR) has published its Annual Plan for 2022/23. Emerging from the COVID-19 pandemic, it’s clear how essential to...

Trade body reports collections sector increasingly embracing new communications technologies – encourages regulators and government to follow suit

A new survey by the Credit Services Association (CSA), the UK trade body for debt collection and debt purchase, found that firms expect to either explore or...

PayPoint calls for businesses to counter cost of living concerns with digital payment solutions

Whilst hopes were high that the Chancellor’s Spring Statement would counter the rising cost of living, a survey by digital payments expert PayPoint confirms...

Mitek acquires HooYu for £98M to combat fraud

Mitek today announced the acquisition of UK’s leading KYC (know your customer) technology pioneers, HooYu. The acquisition helps to ensure businesses know...

Stressed customers hit the phones to discuss financial woes

The rising cost of living is making the phones ring for financial services businesses across the UK – as worried consumers seek more help and...

Paylink Solutions partners with Ecospend to provide ‘pay-by-bank’ services

Paylink Solutions has partnered with online banking provider, Ecospend, to allow customers who’ve fallen behind with repayment plans to make instant payments...

Sigma Connected appoints specialist to lead its new credit services business

Business outsourcing provider Sigma Connected has announced the appointment of a new managing director to lead the company’s newly-formed credit services...

R3 launches free Scottish consumer debt advice resource

R3, the insolvency and restructuring trade body, has launched a new debt advice guide for individuals in Scotland. The free resource, ‘Dealing with money...

New StepChange Strategy 2021-25 strategy against background of changes in debt advice

People experiencing problem debt tend to have more complex situations than in the past, so the scope and delivery of debt advice also needs to evolve – a...

Financial scar tissue in cities drives unequal pandemic recovery, shows latest Financial Vulnerability Index

As UK households are hit by rising prices, the latest update to the UK Financial Vulnerability Index (FVI), a joint project of Lowell and the Urban Institute,...

One in five people expects to be driven into problem debt this year

New polling from StepChange Debt Charity shows that millions of people expect to fall into problem debt this year due to the rise in the cost of living, energy...

Finalists revealed for inaugural CIVEA Enforcement Excellence Awards

Finalists have been announced for the first-ever industry excellence awards that follow the annual CIVEA conference, which brings together leading players from...

Modest rate bump risks inflation, expensive debts and savings misery

The Bank of England raised the base rate another 0.25 percentage points to 0.75%. It may not  be enough to dampen inflation. It’s bad news for borrowers –...

Restaurant group Fridays UK chooses PCI Pal® to secure card payments

PCI Pal, (LON:PCIP) – the global provider of cloud-based secure payment solutions – has supported restaurant group Fridays UK with the implementation of...

Company insolvencies double as cash crunch starts to bite & landlord restrictions lifted

Insolvency figures released yesterday for February 2022* by the Government’s Insolvency Service showed corporate insolvencies more than doubled compared to...

Average contactless payment increases by almost 30 per cent since new £100 limit was introduced

December 2021 card spending data from UK Finance reveals that the average amount spent per contactless card transaction rose by almost 30 per cent following...

Catherine Brown announced as the first chair of the Enforcement Contact Board

Catherine Brown, the former Chief Executive of the Food Standards Agency and current Chair of environmental charity Hubbub, is announced today as the first...

Intrum signs agreement to acquire Debt Managers portfolio from the Secure Trust Bank group

Credit management group Intrum UK has agreed to purchase the entire loan portfolio (the ‘Portfolio’) currently owned by Debt Managers (Services) Ltd...

February 2022 insolvency statistics, R3 response

Corporate insolvencies decreased by 3.2% in February 2022 to a total of 1,515 compared to January’s total of 1,565, and increased by 121.2% compared to...

Remy Automotive appoints Quantuma as Administrators

Leading motor parts remanufacturing business, Remy Automotive UK Ltd, has appointed Paul Zalkin and Andrew Watling of Quantuma Advisory Ltd as Joint...

First two Local Authorities to use new Creditor Debt Solutions Platform for more effective and transparent approach to supporting residents in financial difficulty

Southwark Council and Birmingham City Council will soon be the first two Local Authorities to use ‘debt-tech’ firm Trustfolio’s new Creditor Portal with...

£426m worth of property has been repossessed over the last year

Property purchasing specialist, HBB Solutions, has revealed where across the property market holds the unsavoury title of the nation’s repossession hotspot,...

Small business lending back to pre-pandemic levels but demand for personal guarantees is set to rise

In response to the Small Business Finance Markets Report 2022 from the British Business Bank which found that lending to small businesses has returned to...

Jason Incles is Appointed as Chair of Arum and Just

Arum and Just today announced Jason Incles, previously of TDX Group from 2006 to 2016, has been appointed as the board’s new Chair. Effective 9 March, Incles...

CashtoCode goes live in 10 new countries and 300,000 locations in major global expansion

CashtoCode, the payments service for online merchants, today announced its availability in more than 300,000 retail locations across 10 new countries. This...

New R3 resource aims to shatter insolvency fees myths

Insolvency and restructuring trade body R3 has published new research which aims to address a range of misconceptions about insolvency fees. R3’s paper,...

Meltdown of court system leaving small businesses dangerously exposed

Delays in the court process, compounded by COVID-19, are allowing businesses to potentially cheat their suppliers out of their hard-earned cash, a cashflow...

Enforcement firm celebrates success of ongoing charity partnership

The Bristow & Sutor Group, based in Redditch, Worcestershire, is calling for more like-minded businesses to commit to worthy causes long-term, after...

InDebted announces senior hires to strengthen product offering

InDebted, the fast-growing global fintech aiming to transform the consumer experience of debt, has today announced the appointments of Pierre Bergamin as Vice...

Catherine Brown announced as the first chair of the Enforcement Conduct Board

Catherine Brown, the former Chief Executive of the Food Standards Agency and current Chair of environmental charity Hubbub, is announced today as the first...

How the pandemic affected outcomes from debt advice

The Covid pandemic has had a very distinct impact on the progress of people seeking debt advice, according to StepChange Debt Charity. Their initial progress...

Major companies are permanently removed from the Prompt Payment Code for failing to pay their bills on time

Five leading companies – Diageo Scotland Limited, Diageo Global Supply IBC Limited, Diageo Northern Ireland Limited, Diageo Great Britain Limited and...

OMS integrates Land Registry search facility

One Mortgage System (OMS), the single-input enquiry to completion processing platform for brokers, has integrated the Land Registry search facility. This...

Rise in consumer credit borrowing reflects “growing pressure” on household budgets

The Bank of England has today published its latest Money and Credit figures showing consumer credit growth increased to 3.2% in January 2022 from 1.5% in...

Law firm launches ‘Lender Services’ to address underserved market

Esson & Aberdein has launched a dedicated Lender Services division to address an acute lack of provision and competition in the area. It is taking over...

Energy price hikes spark debt crisis: Brits borrow almost £5 billion to stay afloat

The UK’s energy crisis has prompted one in five (20%) Britons to rely on credit cards, loans and overdrafts to manage the mounting costs recorded over the...

Cabot General Counsel Sarah Whiteley elected new Board member at CSA AGM

At the recent AGM of the Credit Services Association – the trade association for the debt collection and debt purchase industry – Sarah Whiteley,...

PayPoint supports communities with more than £166m in emergency benefits vouchers dispensed since March 2020

Since the start of the pandemic, digital payment expert, PayPoint, has aided local government in its support of vulnerable people by dispensing more than 3.5m...

TVR Express Limited appoints Quantuma as administrators

Rehan Ahmed and Tauseef Rashid of business advisory firm, Quantuma, were appointed as joint administrators of TVR Express Limited (TVR) on February 21st....

Sigma Connected wins Anglian Water vulnerable customer support contract

A UK business outsourcing specialist has agreed a three-year contract with Anglian Water to support its most vulnerable customers. Sigma Connected, which...

Virgin Money introduces Paylink Solutions’ affordability platform across its lending products

Virgin Money has enhanced the way customers who have fallen into arrears provide their income and expenditure (I&E) information as part of a new digital...

Lulu Guinness bags modern accounting system

Lulu Guinness, the quintessentially British and iconic handbag brand, has partnered with Yooz, the cloud-based provider of real-time purchase-to-pay (P2P)...

Jennifer Baert is appointed General Counsel of Euler Hermes Group

Euler Hermes, the world leader in trade credit insurance, announces a change in its leadership team. Jennifer Baert, previously Global Head of Credit Risk...

Arrow Ireland appoints Chief Operating Officer and Head of Internal Audit

Arrow Global Limited (Arrow Global), a leading European investor and alternative asset manager in credit and real estate, is pleased to announce the...

Nexi and Fipe: strategic agreement to support the relaunch of 300,000 Italian businesses

Nexi, the leading European PayTech, and Fipe, the primary Association representing businesses in the hospitality, tourism and entertainment industry, have...

Creditfix to change the way it works with third party debt packagers firms

Creditfix, the UK’s largest personal insolvency provider, has announced sweeping changes to how it works with third party debt packager firms. The move,...

Gen Z under threat from rising bills – even if they cancel Netflix

Generation Z are far more likely to be living on the edge – only 14% have enough spare cash to be resilient to rising prices – compared to 52% of...

New global survey finds businesses using spreadsheets for cash management twice as likely to have high number of overdue invoices

Sidetrade has today revealed the detrimental impact spreadsheets have on business team’s effectiveness, in “Cash Culture Pulse” 2022. Cash Culture Pulse...

Debt recovery firm reveals over 40% rise in demand for legal services

A leading credit management and debt recovery company says demand for legal services has increased sharply over the past 12months and is showing no sign of...

Pay Trade launches

A revolutionary new tool to protect consumers and the construction industry, Pay Trade celebrates its official launch of its escrow and construction contract...

Alan Wood joins Just as Strategic Account Director

Just. The Enforcement Market Integrator has appointed the industry expert on tackling nuisance and unlawful vehicles, Alan Wood, as a Strategic Account...

PayU Launches a new credit payment solution in Romania on eMAG to Transform Online Shopping Experience

PayU, the leading fintech and online payments provider across high-growth emerging markets, has today announced that a new innovative credit solution developed...

Entrepreneur claims to have settled the UK’s oldest known invoice – in 45 minutes!

A British entrepreneur who recently launched an automated digital platform to collect business debts believes he has settled the country’s oldest invoice –...

Card payments vital for side-hustlers

The side-hustle phenomenon has taken off in the last two years, with recent data highlighted by embedded finance provider YouLend suggesting more than half of...

BNPL refunds for customers: one small step for the FCA

Clearpay, Laybuy and Openpay have agreed to refund borrowers who were charged late payment fees in specific circumstances. All three, plus Klarna, had their...

Insolvencies expected to increase in UK food and beverage sector, warns new report

The UK food and beverages output is forecast to grow by more than 3% in 2022, but the outlook for food producers and processors is less positive according to a...

Following two years of disruption, sales and marketing performance is returning to pre-pandemic levels

As Covid-19 loosens its grip on the business world, the majority of businesses (87%) are reporting that their sales and marketing performance has returned, or...

Industry Trade Body Launches New Online Learning Platform

The Credit Services Association (CSA), the only UK Trade Body for the Debt Collection and Purchase Industry, and approved provider on the Register of...

Sandton deliver £20million funding for administration proceedings

Private equity and special situations institutional investor Sandton Capital Partners (“Sandton”) has supported UK Insolvency Practitioners (IPs) with over...

Insolvency Service punishes 32 bankrupt individuals for gambling

The Insolvency Service punished 32 individuals who went bankrupt as a result of excessive gambling or unnecessarily extravagant spending last year*, says...

Intrum announces collections and recoveries partnership with Sainsbury’s Bank

Credit management group Intrum UK has signed an agreement to manage the collections and recoveries functions for the Sainsbury’s Bank and Argos Financial...

StepChange and OVO Energy announce £2 million package of additional support

StepChange Debt Charity and OVO Energy are delighted to announce a new partnership that will provide a package of support to the charity worth up to £2...

Qualco UK gains Financial Conduct Authority (FCA) authorisation

Qualco UK is pleased to confirm it has received authorisation from the UK’s financial services regulator, the FCA. Although historically there has not been...

It’s a hat-trick of Gold Awards for Lantern

Lantern, one of the UK’s market leading debt purchase and recovery companies focusing particularly on vulnerability, has received its third consecutive...

Open Banking could save SME online retailers over £19,000 a month in transaction fee savings, according to new report

The average SME online retailer could save an estimated £19,000 by reducing transaction fees associated with popular payment providers such as AMEX,...

Skills Minister Alex Burghart MP to open Trade Body Skills Summit as part of 2022 National Apprenticeship Week

Alex Burghart MP, the Parliamentary Under Secretary of State at the Department for Education, will discuss how Government values service-sector apprenticeships...

PKF GM boosts contentious insolvency team with new London director appointment

PKF GM has announced the appointment of Stratford Hamilton. Stratford joins as a director in the London team specialising in contentious insolvency. Stratford...

Catastrophic energy price surge: the people hit hardest

The energy price cap will rise to £1,971 in April, up 54% or £693 (the difference is due to rounding).That’s a record rise in bills. Pre-payment bills will...

Comment on Buy Now Pay Later and Grocery Debt

“With the cost of living at a thirty-year high, financial support for people and families living with debt is more important than ever. BNPL platforms...

Bristow & Sutor confirmed as headline sponsor at awards

The Bristow & Sutor Group has announced they will be the headline sponsor of the maiden CIVEA awards night and dinner, part of the forthcoming annual CIVEA...

Debt Register shortlisted for award

Debt Register, a new payment accelerator platform, has been shortlisted in the Innovation and Technology category of the UK’s leading awards programmes for...

Phoebus Software Limited and Hampshire Trust Bank sign new contract

Phoebus Software Limited (PSL) and Hampshire Trust Bank have renewed their contract which will see the Phoebus solution continue to service the bank’s...

Bankruptcies reach record low in Q4 2021

The number of individuals entering bankruptcy was the lowest since Q4 1987 with only 1,824 bankruptcies occurring in the quarter. This is the seventh quarter...

Annual (2021) insolvency statistics – R3 response

Commenting on the 2021 corporate and personal insolvency statistics for England and Wales, Colin Haig, President of insolvency and restructuring trade body R3...

Digital transformation expert joins forces with Bristow & Sutor

The Bristow & Sutor Group has recently partnered with technology expert Andrew Slade, representing the next step in the company’s ongoing commitment to...

PSR publishes remedies consultation for its card-acquiring market review

The Payment Systems Regulator (PSR) has published its initial remedies consultation for its card-acquiring market review. Every time somebody makes a card...

How omnichannel can help businesses create a seamless customer experience

In a world full of busy consumers where everyone wants everything yesterday, fluid and tailored customer experiences are vital for businesses. In fact,...

You’re not alone – 93% of organisations experience late payments

Nine in ten (93 percent) businesses are currently waiting on late payments from customers, according to new research. For medium sized enterprises with 50 to...

Regulated firms unaware of digital options

New research from anti-money laundering (AML) specialist SmartSearch has found just under a third (28%) ofregulated businesses are unaware of digital AML...

Affinity Waters Keeps Customer Conversations Flowing with Webio Chatbots and Automation

Affinity Water, the largest water-only company in the UK, is taking the plunge and has begun a new digital engagement process by introducing conversational SMS...

Trustfolio acquires TIPTrust and Asperitas to create ‘debt-tech’ collective

A collective of industry experts from across the consumer credit, debt advice, collections, insolvency, and fintech sectors have joined together to launch...

Confirmation of Payee for Bacs is a welcome upgrade, but it could go further

More than 4.5 billion Bacs payments are made in the UK every year, representing roughly 90% of all regular monthly payments via direct debit transactions. But...

Aryza Group signs definitive agreement to acquire Collenda

Aryza Holdings Limited (Aryza) has today announced it is accelerating its European roll-out through the acquisition of Collenda, a leading DACH and Benelux...

Peter Wallwork FCICM appointed Non-Executive Director at Arvato Financial Solutions in the UK

Arvato Financial Solutions are delighted to announce the appointment of Peter Wallwork FCICM as Non-Executive Director. Over the last twenty years, Peter has...

Company insolvencies increase as tough year ahead forecast

Insolvency figures released for December 2021* by the Government’s Insolvency Service showed a 20% increase in corporate insolvencies compared to the same...

FCA’s Forthcoming Consumer Duty

With a press release titled; ‘FCA to introduce new Consumer Duty to drive a fundamental shift in industry mindset’issued on December 7th, the Financial...

Arum has been appointed on to CCS’s Debt Resolution Services framework

Arum has been named as a supplier on Crown Commercial Service’s (CCS) Debt Resolution Services (DRS) framework to provide to provide Fraud, Error and...

R3 responds to December insolvency statistics

Corporate insolvencies fell by 11.4% in December 2021 to a total of 1,486 compared to November’s total of 1,678, and increased by 20.1% compared to December...

Adrian Jones joins ABBYY as Chief Revenue Officer to drive aggressive growth strategy in Intelligent Process Automation market

Intelligent automation and IT sales veteran, Adrian Jones, joins ABBYY as its newly appointed Chief Revenue Officer (CRO). Jones has led large global sales...

Marston Holdings Acquires Vortex IoT Limited To Enhance End-To-End Air Quality And Decarbonisation Offering

Marston Holdings, the UK’s leading provider of integrated, technology-enabled transport solutions, has announced its acquisition of Vortex IoT Limited,...

Rise in CCJs issued against consumers in England & Wales prompts call to action to protect financially vulnerable households in 2022

The number of County Court Judgments (CCJs) issued against consumers in England and Wales in 2021 rose by more than one third compared to 2020, according to...

Late payments increase as Scottish business optimism plunges

A third of Scottish business owners say that late payment increased in the last three months of 2021, according to new research from the Federation of Small...

Clarke Willmott’s debt recovery team gain CICM accreditation

National law firm Clarke Willmott LLP has become the first client-servicing solicitor firm to gain a CICMQ quality accreditation from the Chartered Institute...

PSR launches new strategy setting out key priorities over next five years

The Payment Systems Regulator (PSR) has today published its new strategy, setting out its priorities and what it aims to achieve over the next five years. The...

International survey probes the future of customer service and considers consumer preferences versus contact centre strategies

Having surveyed 2,600 consumers and contact centre professionals in both the UK and USA, research commissioned by PCI Pal® (LON: PCIP), the global cloud...

Half of Brits want urgent help managing their cash, new poll finds

Nearly half of UK adults (44%) want urgent help in managing their own money, according to a new opinion poll highlighting the dire state of the personal...

Paysend Strengthens Americas Operation with Jairo Riveros as Managing Director of the US and LATAM

Paysend, the card-to-card pioneer and international payments platform, today announces the appointment of Jairo Riveros, as managing director of the United...

Access to interbank payment systems continues to grow

The PSR has today published its latest access and governance report, showing trends and developments in interbank payment systems over 2019 and 2020. This...

Payments’ disruptor DigiDoe seals six-figure investment

DigiDoe, the London-based startup which is on a march to revolutionise the world’s outdated payments infrastructure, has secured more than £850,000 from new...

Back2Credit announces relaunch following significant investment

Back2Credit has today announced the launch of their UK consumer debt advice platform, designed to provide individuals with quick access to the financial...

New solution to taking the guesswork out of bad debt provision

Businesses seeking to take the guesswork out of bad debt provision at Financial Year End could benefit from a new free service being provided by Debt Register,...

Just has been appointed on to Crown Commercial Service’s Debt Resolution Services framework

Just, the enforcement market integrator, has been named as a supplier on Crown Commercial Service’s (CCS) Debt Resolution Services (DRS) framework to provide...

Apex Litigation Finance appoint Mark Sands as Head of Insolvency

Litigation funding specialists Apex Litigation Finance have announced the appointment of Mark Sands as Head of Insolvency, where he will be taking overall...

Managing cashflow is key to business survival

It’s now critical that small suppliers get paid within 30 days, says OSBC. The Office of the Small Business Commissioner (OSBC) welcomes the clarity provided...

Commentary: the UK’s late payment ‘crisis’

“This week’s figures from the Federation of Small Businesses (FSB) revealed late payments are continuing to trouble the small business sector which could...

Phoebus Software Limited (PSL) signs servicing contract with Lendco

Phoebus Software Limited (PSL) and Lendco have signed a four-year contract which will see the specialist lender onboard all new mortgage completions onto the...

New November data already shows worrying trends reflecting cost of living – even before Christmas pressures

Today’s Bank of England data for November showed a significant net increase in borrowing on credit cards, which StepChange Debt Charity warns may be an...

BoE comment: Property market remains robust

Following the latest Bank of England statistics which found rates fell and approvals remained steady in November, John Phillips, national operations director,...

Insolvency regulation consultation launch, R3 response

Commenting on the Government’s Future of Insolvency Regulation consultation, which was launched today, Colin Haig, President of insolvency and restructuring...

‘Paying quickly has never been more important’ UK Small Business Commissioner Liz Barclay has a seasonal message for large business finance teams.

Given the number of shoppers I saw out and about over the weekend, the bumper pre-Christmas spending spree shops, restaurants and pubs were hoping for won’t...

Arvato Financial Solutions collect consumer-oriented debt collection services award

Arvato Financial Solutions has been honoured by Credit Strategy for its consumer-focused debt collection. The award centres on an outsourcing project in which...

Predictions: Pressure mounts on banks to exceed customer demand in evolving industry

Looking ahead at how customer expectations of financial services are likely to change in 2022 and what this means for banks. 1 – Creating a Unified...

New solution to taking the guesswork out of bad debt provision

Businesses seeking to take the guesswork out of bad debt provision at Financial Year End could benefit from a new free service being provided by Debt Register,...

Company insolvencies surge by 88% with numbers higher than pre pandemic levels

Insolvency figures released on Friday for November 2021* by the Government’s Insolvency Service showed an 88% increase in corporate insolvencies compared to...

A quarter of families need to borrow to survive this winter as inflation pushes parents into debt

UK families face being pushed into debt over the next few months with over a quarter (27%) of people with dependents saying they’ll need to borrow to survive...

R3 responds to November 2021 insolvency stats

Corporate insolvencies rose by 18.7% in November 2021 to a total of 1,674 compared to October 2021’s total of 1,410, and increased by 87.9% compared to...

Local authorities embrace PayPoint’s ‘Cash Out’ to ease the financial burden of Christmas for residents

Liverpool and Warwickshire Councils are the latest to join 96 local authorities and housing organisations across the UK in providing convenient and immediate...

Yolt and The Digital DRA partner to strengthen the next-generation approach to debt resolution

Yolt, Europe’s leading open banking provider, has announced a strategic partnership with The Digital Debt Resolution Agency (The Digital DRA) to harness open...

Navigating Through A2A Payments: Impact on Customer’s Journey, Card-Saturated Payments Market, and Future of PSPs

Account-to-account (A2A) payments are an evolution of the ever-changing payments landscape. The solution enables to cut out third parties and transfer payments...

Paylink Solutions appoints Head of Development to enhance fintech innovation

Fintech Paylink Solutions has hired Crispin Neads as Head of Development to drive product development and enhance its digital affordability applications for...

Paradigm promote Hunt to Relationship Manager

Paradigm Mortgage Services, the mortgage services proposition, has today announced the promotion of Tom Hunt to the role of Relationship Manager. Tom will be...

Payment Systems Regulator publishes its regulatory framework for the New Payments Architecture (NPA)

Today the Payment Systems Regulator (PSR) publishes its regulatory framework for the renewal of the UK’s interbank payments infrastructure that allows...

ABN AMRO and receeve cement strategic partnership for collections & recovery with €4m venture investment

receeve, the innovation leader in collections & recovery technology, is proud to announce our newest customer, ABN AMRO, the third-largest bank in the...

PayU to be a pioneer of payments routing and approval technology with patent

PayU, the fintech and e-payments business of Prosus, has today announced that its patent for technology, which will improve payments routing and approval, has...

Flexible digital donations will lead to increased and more spontaneous charitable giving

Charity donations would increase over time if people had access to digital solutions that enabled them to easily dial-up or dial-down their regular donation to...

Welcome action on ‘misleading’ and ‘irresponsible’ debt advice adverts

The Money Advice Trust, the charity that runs National Debtline, has welcomed today’s action from the Advertising Standards Authority (ASA), to uphold...

Elavon selects Liberis to offer financing solution

Global payments company, Elavon, has partnered with Liberis, a global leader in providing embedded finance solutions, to offer funding for...

New consumer duty proposals are a game changer, says StepChange

StepChange Debt Charity is pleased to see the Financial Conduct Authority taking a strong next step towards a much needed Consumer Duty for the financial...

New Consumer Duty “will benefit consumers and firms alike”

The Money Advice Trust has welcomed the FCA’s plans for a new Consumer Duty that are intended to ensure a more consistent standard of consumer protection in...

Fintech Veteran Mike Dugand Joins Just

Just, the enforcement market integrator has appointed FinTech veteran Mike Dugand as Chief Technology Officer (CTO). Dugand will take his seat on the board of...

PSR outlines its proposal to ensure widespread coverage of Confirmation of Payee

Today, the PSR sets out its proposal to ensure the industry remains on track with establishing a single Confirmation of Payee (CoP) system. This will...

Payment practices hold steady in Eastern Europe

The Atradius Payment Practices Barometer Survey Results for Eastern Europe paint a promising picture of businesses that have maintained the status-quo, despite...

Encore Announces Findings of Economic Freedom Study

Encore Capital Group, Inc an international specialty finance company, today announced the findings of its Economic Freedom Study. The survey asked 2,600 people...

Legal Consortium Guarantees to Recover Unpaid or Pay Full Invoice Value

A new service that offers fast, risk-free payment of undisputed unpaid business invoices has been launched by Caresso Law. Under the new scheme, the company...

VibePay CEO: 90-day rule change by the FCA is crucial for UK fintech

Commenting on the FCA’s move to change the 90-day rule, meaning from 26 March 2022, banks should only authenticate for the first access request of an account...

Officially 50,000 face Catch 22 of being a mortgage prisoner: real figure could be double

Borrowers with inactive firms are far more likely to be mortgage prisoners: there are 195,000 of them. Of these, 66,000 may be able to switch, and 30,000...

UK consumers struggle with financial literacy in the wake of Covid-19

UK consumers are failing to measure up when it comes to understanding their finances, according to a survey of 24,000 European consumers by credit management...

Bristow & Sutor achieves flawless industry audit

The Midlands-based enforcement specialist was recently audited by the Civil Enforcement Association (CIVEA), scoring an impressive 100% in the process. CIVEA...

Yooz Earns Great Place to Work Certification

Yooz, the purchase-to-pay automation provider, is proud to be Certified™ by Great Place to Work® – the prestigious award based entirely on what...

Arrow Global launches new corporate restructuring business in Portugal

Arrow Global, a leading European investor and alternative asset manager in credit and real estate, today announces the creation of a dedicated corporate...

Appetite for credit insurance grows in Western Europe

Trade credit insurer Atradius has published 2021’s annual Payment Practices Barometer Survey Results for Western Europe. Denmark had the highest percentage...

Four Payments Industry Predictions – What Will Disrupt the Market in 2022?

Having dealt with the initial pandemic aftershock, this year the key areas of focus for businesses were building economic resilience and improving customer...

Azzurro Associates is first of its kind to become a registered firm with the LSB

The Lending Standards Board (LSB) has announced that commercial debt solutions provider, Azzurro Associates (Azzurro), has become a registered firm with the...

Invu announce they are now part of the Agilico Group

Invu Services Limited, the Document Management, Accounts Payable and Purchasing solutions provider, is today announcing it has become a member of the Agilico...

PayPlan announces new partnership with Plain Numbers to tackle low numeracy levels

Leading free debt advice provider PayPlan has joined forces with Plain Numbers, an organisation dedicated to helping firms support their customers who struggle...

Moneyhub partners with Expense Once for Open Banking-enabled card payment reconciliation

Moneyhub, the market-leading Open Finance data, intelligence and payments platform, is partnering with expense management software provider Expense Once to...

Ecospend appoints Sarah Lambert as Head of Solutions

Ecospend, a leading UK provider of Open Banking APIs, has today announced the appointment of Sarah Lambert as Head of Solutions. Sarah will be working with the...

BuildLoan joins panel of finova Payment & Mortgage Services

The panel at finova Payment & Mortgage Services has been enhanced with the addition of BuildLoan, the UK’s largest self and custom build mortgage...

Award win for Scottish insolvency specialist

Tim Cooper, Chair of insolvency and restructuring trade body R3 in Scotland and a Partner at Addleshaw Goddard in Edinburgh, has won the Association’s R3...

Credit card transactions drop 18%

Yesterday Amazon announced it would stop accepting credit card payments from January and research by leading UK Buy Now Pay Later (BNPL) platform, Butter, has...

Sidetrade wins Shared Services Credit Team of the Year at Irish Credit Team Awards 2021

Sidetrade, an Artificial Intelligence platform dedicated to accelerating revenue and cashflow for businesses, has won “Shared Services Credit Team of the...

PSR sets out plans to fight APP scams

Today, the Payment Systems Regulator sets out its latest plans to fight fraud and protect victims of APP scams. Every year thousands of individuals and...

StepChange strongly supports debt packer firm referral fee ban proposal from FCA

StepChange Debt Charity wholeheartedly supports and welcomes the Financial Conduct Authority’s proposals today to ban debt packaging firms from accepting...

FCA to ban referral fees for debt packagers, effectively shutting down the market

Out of the 1.7m people who receive debt advice each year, around 54,000 start with a debt packager. These companies make 90% of their income by referring...

Specialist Finance Centre launches SFC Scotland

Specialist Finance Centre (SFC), the second charge and specialist finance packager, has announced the launch of its proposition into Scotland as it continues...

Cash flow pressures drives over 60% rise in insolvencies

Insolvency figures released today for October 2021* by the Government’s Insolvency Service show a 63% increase in corporate insolvencies compared to the same...

Fintech helps SMEs combat overdues for free

Small businesses are being given free access to a new digital payment platform to help them get outstanding debts paid more quickly. Debt Register is giving...

R3 responds to October 2021 insolvency figures

Corporate insolvencies fell by 3.0% in October to a total of 1,405 compared to September’s total of 1,449, and increased by 63.6% compared to October...

F4B Network introduces free admin support package

The F4B Network has introduced a free admin support package for its ARs. The aim of this initiative is to allow ARs to dedicate a greater proportion of their...

Late payments by UK retailers at highest-recorded levels

Sidetrade has today revealed that the proportion of invoices left unpaid by UK retail companies in October 2021 hit an all-time high since records began, and...

Aryza announces investment

Pollen Street Capital has agreed a sale of Aryza Holdings Limited. (Aryza, or the Company) to Atlas Bidco 1 Limited – a company owned by Macquarie...

StepChange comments on new landlord possession statistics

Today’s Ministry of Justice data show numbers of landlord court actions and orders remain supressed since March 2020, with a significant increase in the...

Lowell Third Quarter Results 2021

Lowell, a European leader in credit management services, today announces its results for the 3 months ended 30 September 2021. Commenting on today’s...

Nucleus Commercial Finance celebrates 10 years

Nucleus Commercial Finance, the fintech revolutionising how UK SMEs access finance, celebrates its 10 year anniversary, following a year in which the lender...

Bristow & Sutor win industry award for Webio partnership

The Midlands-based enforcement specialist was nominated for three categories at the Credit & Collections Technology Awards, held at the Midland Hotel in...

Sidetrade strengthens position in electronic exchanges by becoming certified Peppol Access Point

Sidetrade (Euronext Growth: ALBFR.PA), an AI-powered Order-to-Cash platform dedicated to accelerating revenue and cash flow, has become a certified Access...

United Trust Bank appoints Astrid Michael as Asset Finance Head of Sales

United Trust Bank (UTB) has appointed Astrid Michael as its new Head of Sales for its Asset Finance division following the retirement of Keith Sangwin earlier...

Over half of UK credit providers to implement open banking in 2021

55 per cent of lenders plan to adopt open banking this year with 93 per cent of those businesses expect to adopt the data-sharing initiative in the next 12...

Tall cheque-writing service mails its 10 millionth cheque

A cheque-writing service that helps ease the payment processing burden for companies across the UK, especially during the COVID-19 pandemic, has now issued its...

EQ wins contract to administer help to buy equity loan

EQ Credit Services will partner with Homes England on five-year deal supporting Help to Buy customers. Following a competitive tender process EQ Credit...

Cashflows partners with BigCommerce to support post-Covid eCommerce boom

Cashflows, the platform that makes it easy for merchants to accept payments, has, today, announced a partnership with digital commerce platform, BigCommerce, a...

Thornbury Collections announces worldwide partnership

Thornbury Collections are delighted to announce that through its worldwide partnership with GCS Credit Community, they have been chosen to collect Circa 30,000...

Overdue invoices costing 75% of business time new survey shows

Businesses and accounts departments are spending too much time chasing overdue debts when that time would be better spent in advising their sales teams on who...

Quarterly company insolvencies show 17% increase with tough times ahead forecast

Quarterly insolvency statistics released last Friday for Q3 2021* show that the number of company insolvencies was 17% higher than in Q2 2021 and 43% higher...

Realty Law strengthens leadership team with new senior hire

A Birmingham-based law firm specialising in commercial property debt collection, has announced the appointment of one of the region’s leading property...

Riveron and HighRadius Form New Alliance to Modernize Finance Processes

HighRadius, the Artificial Intelligence-powered Order to Cash and Treasury Management software leader, announces a new partnership with Riveron. In becoming an...

Enforcement firm announces partnership with The Money Charity

The Bristow & Sutor Group has signed a charity partner agreement that will see the Midlands-based company provide support, volunteering and annual...

Household finances under strain again post-pandemic as credit use and social benefits on the rise, shows Lowell’s Financial Vulnerability Index

As the UK continues to assess the impact of the pandemic on household finances, the latest update to Lowell and Urban Institute’s UK Financial Vulnerability...

New digital debt resolution agency launched to provide new approach for those struggling in debt

A new debt resolution agency, The Digital DRA, has been launched to help consumers struggling with mounting debt levels brought about by the pandemic....

Bankruptcies at record low in Q3 2021

The number of individuals entering bankruptcy has hit a record 22-year low with only 1,938 bankruptcies occurring in the quarter. At the same time, the number...

R3 responds to the Q3 2021 insolvency statistics

There were 3,765 seasonally adjusted corporate insolvencies in Q3 2021, an increase of 16.7% compared to Q2 2021’s figures of 3,226 and a rise of 43.5%...

Energy sector job seekers should consider debt careers say Credit Style

Credit Style, part of the Bristow & Sutor Group, says energy sector workers who have lost their jobs recently should consider changing career paths,...

Nemesysco Appoints New Chief Operating Officer to its Service Centre in South Africa

Nemesysco, a leading provider of voice analytics technologies and solutions for genuine emotion detection, today announced that Lelani Rautenbach has been...

40% of businesses still using spreadsheers for finance function

Research into UK SME finance and accounting departments has exposed the sheer lack of digital tools currently used, with just one in five (20%) having adopted...

Why late payments are hurting your customer, as well as your business

It is a well-known fact that small is powerful, especially when it comes to business. In the UK today, companies with between 0 – 49 employees make up...

Kingsway Finance accredited under Recovery Loan Scheme

The Praetura Group are pleased to announce that Kingsway Finance has been accredited as a new lender for the Recovery Loan Scheme (RLS) by the British Business...

Metro Bank goes live with Qualco UK’s ExtraCollect recoveries platform

Metro Bank, one of the country’s leading community banks, has selected Qualco UK as its collections and recoveries (C&R) partner following a lengthy...

Ampla Finance makes two new senior hires

Ampla Finance, the legal finance provider, has today announced the appointment of Natalie Player and Deborah Ward, both qualified lawyers, as Commercial...

Lantern agrees to acquire vulnerable customer management company Sonex Financial

Lantern, the Leeds-based leading player in the speciality finance debt purchase market, has agreed terms to acquire Sonex Financial, as it continues to deepen...

StepChange responds to new £65m support for rent arrears

StepChange Debt Charity, which has been urging the Government through its Covid Debt Rescue campaign for additional support to help tenants who face a £360m...

Contact centre homeworking specialist Sensée launches ‘The Sensée Forest’ with aim of achieving carbon neutrality

Home and hybrid working specialist Sensée has announced a three-year partnership with Treedom, a global web platform for planting trees and forests worldwide....

PSR sets out plans for fraud prevention tool, Confirmation of Payee, to be available to more customers

Today, the Payment Systems Regulator sets out its latest plans to fight fraud and protect victims of APP scams by outlining its next steps for the wider...

England and Wales Q3 2021 Statistics

County Court Judgments (CCJs) against businesses in England and Wales rose by 70 percent in Q3 2021, compared to the same quarter in 2020, according to figures...

PKF to create 50 jobs in Leeds with new Financial Services team

New Partner hire signals major investment in region’s booming finance sector. PKF, one of the UK’s largest and most successful accountancy brands, has...

Debtors to save millions of pounds as the Ministry of Justice clarifies the legal position for charging VAT

The Ministry of Justice (MoJ) has issued legislative guidance confirming that where creditors are registered for VAT, the debtor should not be charged an...

Equilaw brings in new MD

Equity release law firm Equilaw has appointed Max Hayden as the new Managing Director just in time for a major launch of new technology, while Claire Barker,...

Company insolvencies surge by over 50% as leading insolvency professional predicts a challenging winter ahead

Insolvency figures released today for September 2021* by the Government’s Insolvency Service show a 56% increase in corporate insolvencies compared to the...

R3 responds to September 2021 insolvency figures

Corporate insolvencies increased by 7.2% in September 2021 to a total of 1,446 compared to August’s figure of 1,349, and increased by 55.8% compared to...

High Court Enforcement Officers Association welcomes VAT on fees clarity from Ministry of Justice

The High Court Enforcement Officers Association (HCEOA) has welcomed this week’s publication of a new Ministry of Justice guidance document entitled VAT on...

Phillips & Cohen Associates hires Shawn Farris as SVP, digital operations

Phillips & Cohen Associates, Ltd. (PCA), is the global leader in deceased account care servicing and technology solutions. The death tech conglomerate...

Clarke Willmott’s debt recovery team ranked in Legal 500 Guide

National law firm Clarke Willmott LLP’s Debt Recovery team has been recognised in the 2022 Legal 500 guide, which ranks the best law firms and solicitors in...