Reflecting on the Consumer Duty
One year on…

Published 09 September 2024

Lantern discuss their Consumer Duty journey so far and reflect on the last twelve months. The thought process and actions taken regarding their Annual Report are also considered.

End of a chapter?
Considering wind-down plans

Published 04 September 2024

The FCA’s focus on the content and quality of wind-down plans (WDPs) continues, most recently with the regulator creating a new webpage in March 2024 advising firms how to prepare effective WDPs.

The importance of truthful advertising
Marsh Finance consider the FCA’s stance

Published 02 September 2024

In the ever-evolving world of car finance, staying abreast of regulatory changes is not just advisable; it’s imperative. The FCA recently underscored this necessity by publishing an update on its efforts to curb misleading adverts and financial promotions.

Weathering the storm
Challenges and innovations in UK lending

Published 28 August 2024

The UK continues to grapple with economic challenges, including a cost-of-living squeeze compounded by various factors. While recent months have seen falling inflation figures, particularly in food prices, other pressures persist.

Working hand in hand
The successful integration of AI and human expertise

Published 26 August 2024

Artificial Intelligence (AI) is transforming the collections sector by enhancing operational efficiency and customer interactions. AI can also be used to streamline processes like risk assessment and customer engagement, leading to better outcomes. It also supports agent development by automating repetitive tasks and complementing human expertise.

Staying out of hot water
The FCA’s continued focus on financial promotions

Published 21 August 2024

There can be no doubt that the Financial Conduct Authority (FCA) sees financial promotions as a potential high-risk area for consumer harm. They are the proverbial ‘front shop’: the way in which customers become aware of different ways to finance a product. The FCA is already starting to flex its muscles on financial promotions.

Shining light on an important cause
TransUnion partners with Andy’s Man Club

Published 19 August 2024

TransUnion, a global information and insights company and one of the UK’s leading credit reference agencies, has announced its partnership with Andy’s Man Club, a charity that works to eliminate the stigma around mental health by creating a judgement-free confidential space where men can be open about their challenges.

Forward thinking
Improving customer outcomes through open banking transaction data

Published 14 August 2024

Brandon Wallace, Product Manager at transaction data intelligence specialist Bud, explains why he believes forward-thinking lenders should use transaction data to improve outcomes throughout the lending lifecycle. Access to credit isn’t just about borrowing money – it’s about empowering people to manage their finances and navigate life’s ups and downs with confidence.

Regulatory changes in consumer credit
Insights and strategies for the year ahead

Published 12 August 2024

The last twelve months have been a busy period in the regulation of consumer credit. The FCA has continued to focus on affordable lending, customers in financial difficulty and more recently on the treatment of vulnerable customers.

Reducing the burden

Published 08 August 2024

The end of July saw the first anniversary of the implementation of the FCA’s Consumer Duty. This meant vast amounts of work undertaken by regulated firms to prepare, looking to embed the Duty in every stage of the customer journey.

A change in direction?
What a new Labour government could mean for the industry

Published 07 August 2024

GENERAL ELECTION RESULT Labour won the recent General Election with a landslide victory. The party now has a majority in the House of Commons of 170, close to what Tony Blair achieved in 1997. However, they achieved a relatively modest share of the vote for a governing party.

A new day…
A new government, a new fraud strategy

Published 07 August 2024

As the dust settles on an eventful election campaign and newly appointed Ministers find their feet, it’s only right that we should ask what next for fraud policy under the new Labour Government.