FCA calls on insurers to take action
Fair value data published

Published 27 November 2023

Motor insurers selling GAP policies will find the recent FCA study and publication particularly significant. In a letter to insurers, the FCA warned, more action was needed to guarantee positive consumer outcomes, especially considering new Consumer Duty.

Motor finance lenders under the spotlight?
Key developments in the sector

Published 27 November 2023

Motor finance lenders could be forgiven for feeling under the spotlight from the Financial Ombudsman Service, Claims Management Companies, claimant law firms and the Court. James Dipple-Johnstone, Deputy Chief Ombudsman, said at a conference that they had 9,000 motor commission complaints.

The collection payment journey
Improving collection rate efficiency

Published 27 November 2023

When exploring how to maintain collection rate efficiency, businesses can be overwhelmed with challenges. For many, limited payment options, shifting consumer behaviour, and the economic impact on payment habits are prominent stumbling blocks. Let’s explore these difficulties and how Payment Solutions Providers (PSPs) can support businesses in improving collection rates and streamlining the payment journey.

Embracing Consumer Duty and automation
A win-win for financial institutions

Published 27 November 2023

Automation has become an integral part of nearly every facet of our lives. One area where automation is making significant strides is in the realm of the Consumer Duty. Automating these responsibilities not only enhances the customer experience but also brings a multitude of benefits to businesses.

Artificial Intelligence
How AI can help your dealership make more sales

Published 27 November 2023

Artificial intelligence (AI) is set to shake up the car buying process. With AI at your side, get ready to increase sales and improve operational efficiencies across your business.

Pioneering the future of lending
Balancing opportunity and responsibility

Published 27 November 2023

Navigating the dynamic consumer credit landscape requires more than just adequate information. It calls for in-depth insights into regulation and innovation, paired with a strong understanding of the consumer and their circumstances.

The threat of conversion fraud
A problem for the motor finance sector

Published 27 November 2023

After conducting vehicle provenance checks for the last twelve months, we found over 600,000 vehicles advertised on Auto Trader which already had a live finance agreement. Were your vehicles in that list? Are your assets protected? If your data isn’t on our database you are exposed to greater risk.

Engaging on the FCA’s Product Sales Data consultation

Published 24 November 2023

Anyone in consumer credit will likely know about the FCA’s recent consultation on Product Sales Data (PSD) reporting. The FCA has stated that the proposals aim to collect further data from the market to inform their supervisory and policy approach.

CS Lending Summit – challenges in consumer credit

Published 17 November 2023

In a post-pandemic world, there has been a shift in the way people attend industry events. So, it was great to participate in the CS Lending Summit operated by Credit Strategy. For us, there was interest in how Consumer Duty continues to be a mandatory discussion point and how there is more focus on access to credit.

Supporting Talk Money Week

Published 09 November 2023

We are now well into Talk Money Week 2023 run by the Money and Pensions Service (MaPs) which we are supporting. The purpose of Money Talk Week is to break the taboo of talking about money and encourage individuals to speak about their finances, something we still seem to struggle with here in UK.

Regulation of BNPL – an update

Published 06 November 2023

We think the FCA announcement on Buy Now Pay Later (BNPL) activity is interesting for several reasons. First, it is fascinating that over 1 in 4 adults had used BNPL in the second half of last year. This raises some critical questions about the regulation of BNPL.

Quick off the mark
Why consumers need self-service with a safety net

Published 18 July 2023

Digitalisation of operations is not a black and white solution, and there will always be a need for human interaction which is crucial for businesses to manage debt and arrears conversations.