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Despite the rising importance of affordability assessments for UK organisations, less than half (40%) of risk leaders rate themselves as very effective at identifying customers who are financially vulnerable, according to a study by Callcredit Information Group. Eamonn Tierney, managing director –
UK business development, said: “Our research shows that UK organisations are paying more attention to how they assess consumer-credit affordability. But, with current levels of affordability checks varying per organisation, more should be done to ensure it becomes standard practice. Without a complete view of a customer, organisations cannot have full confidence in the lending decisions they are making.”
Destin Solutions have announced the formation of a joint venture with Ascendant Solutions. Director at Ascendant Solutions,
Darren Kelk, said: “With 100% business rates retention moving forward on the political agenda, we expect to see an increase in the amount of local authorities requiring a full breakdown of information on all businesses in their area. “Our product, Ascendant, helps identify businesses at a
Darren Kelk
granular level, linking directors and associated businesses to maximise efficiencies.”
Bibby Financial Services (BFS) has announced a re-structure of its global executive team. As a result of the changes, Ted Winterton will become chief executive, UK, moving from his current position of UK commercial director. Ian Watson will become chief executive, North America to now incorporate responsibility for Canada, whilst Richard Carter will move into the newly created role of chief executive, Europe and Asia. Steve Box, international chief executive, has decided to leave the
business with immediate effect. He said: “The international division has played an important role in helping to successfully deliver our global strategy. Given the advances we have made, it is timely that we disband the division and focus on strengthening the voices of our distinct markets in our global executive team. I therefore leave Bibby Financial Services proud of the progress that we have made and wish the very capable team all the very best for the future.”
April 2017
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A leading payment expert has refuted suggestions that new government financial-reporting rules will increase the burden on big businesses, and says greater transparency will help improve customer-supplier relationships. Speaking on BBC Radio 4’s You and Yours, Philip King,
chief executive of the Chartered Institute of Credit Management, said: “Most businesses will have this data, in some form or another, and should be monitoring how they are treating their supply chain anyway, because if they are not, then they are not doing their job.”
Cabot Credit Management has announced its financial results for the 12 months ending December 2016.“This has been another strong and profitable year. We delivered an adjusted EBITDA of £248m, an increase of
Philip King
26% over 2015, whilst reducing leverage. These results are driven by a 17% growth in debt-purchase collections and a 38% growth in servicing revenue,” said Ken Stannard, chief executive.
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