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.

FCA Consumer Duty
Empowering consumers in debt collection

Published 18 July 2023

Dealing with debt can be an overwhelming and stressful experience for many people. In December 2020, as we all know, the Financial Conduct Authority (FCA) proposed a new set of rules called the Consumer Duty, with the aim of bolstering consumer protection and promoting responsible practices in debt collection.

Contracting for cloud
What to consider in a changing regulatory environrment

Published 18 July 2023

Financial services institutions, like many other businesses outside of the sector, continue to rely on cloud-based solutions to drive efficiencies, streamline processes and improve customer experience. This is despite lingering cybersecurity and data privacy concerns that are rooted in the resilience of such tools (and potential consequences if they were to fail).

Time for change?
The benefits of a Fair Banking Act

Published 18 July 2023

The music fan in me is tempted to say that the release of The Clash’s eponymous debut album was the best thing to happen in 1977. But putting my professional hat on, I must note another significant release that year: the Community Reinvestment Act, by the US Congress.