In Reference Appointments & Updates
crisis hit show the dramatic change in sentiment and confidence. This is set to continue, with 46% of UK
businesses predicting the risk from debtors will rise over the next 12 months, up from 14% in 2019. More than two-thirds (67%) rank pan-European recession among their top challenges. “Late payment is threatening the survival
of the UK’s businesses,” said Intrum UK MD Eddie Nott. “Lengthening payment terms, default and rising arrears mean firms must dedicate more time and resources to getting paid. With the economy and customers under increased stress, it is little wonder companies are cutting costs, reducing headcount and shying away from taking on debt.”
The Aryza Group has launched Aryza Recover, a powerful new digital solution designed to automate the management of payment plans and collection strategies. In a COVID-19 environment when
businesses are managing customer payment breaks with limited resources, and consumers may be struggling and falling into arrears, Aryza Recover allows consumers to review their own financial situation on a mobile, tablet or desktop. This digital journey provides consumers and lenders with a quick way to explore
Tippie Malgwi from Arbuthnot Latham & Co has been named the 2020 UK Young Banker of the Year during the first ever virtual final of the competition, due to COVID-19 restrictions. He said: “I am delighted the judges have bought into
my vision and selected me as winner of this prestigious competition. The principles for responsible banking aim to help the banking industry make a positive contribution to society. This is what I have set out to achieve with my proposal of a financial solution for people living with serious injury and severe medical conditions. I am positive that this will help further the conversation for offering focused banking solutions to this under-served segment and also highlight the wider societal benefits to be derived from serving this vulnerable sector. “I would like to thank the Chartered Banker Institute for giving me and the
Tippie Malgwi
other contestants a platform to voice our ideas on how to improve the future of our industry.”
affordability and vulnerability, and presents the best outcomes for everyone. This is confirmed to the consumer and recorded in a secure database that is supplied to the lender. Andy Taylor, chief commercial officer
said: “Following extensive research and development, engaging with both consumers and businesses, we are excited to be launching Aryza Recover. No other product currently exists with this capability, and based on the feedback so far, we know it improves customer engagement rates and
A total of 81% of property and commercial finance brokers responding to United Trust Bank’s most recent Broker Sentiment Survey believe they are prepared for a second wave of Covid-19. When asked about their arrangements for flexible
working, 46% are considering maintaining their current home and remote working arrangements over the next 12 months with a further 18% considering increasing their working from home (WFH) capability. 21% of brokers indicated that they would be keeping their
helps those struggling with their finances to better understand the options available to them.”
Bristow & Sutor are meeting with more people now than before the coronavirus pandemic began. Despite not currently entering premises, contact rates have increased by 15% and Enforcement Agent (EA) payment results have shown an increase of 24%. The company believes this proves the majority of debtors are willing to engage and those who can afford to pay remain happy to do so. Andy Rose, CEO at Bristow & Sutor,
Harley Kagan
options open and just 15% said that they would be aiming to bring all their staff back to the office as per pre-Covid-19 arrangements. Harley Kagan, Group Managing Director of United Trust Bank, said:
“Government has indicated that a second wave of Coronavirus is building, local lockdowns are already in place around the UK and further restrictions appear inevitable. It is therefore encouraging to see that most brokers consider themselves prepared to deal with the challenges a second wave may bring. With so many also reporting good levels of business, there is a strong sense within the specialist finance industry that whatever happens, many lenders and brokers have the technology and processes in place to maintain their operations.”
October 2020
www.CCRMagazine.com
says, “Suspending enforcement action during the coronavirus lockdown has left local authorities requiring fast, efficient and accountable recovery action as soon as possible. Our strong performance for councils following the return of visits shows that the public are comfortable with the measures in place and remain keen to resolve their debts. “Now is the perfect time for all local
authorities to act and recoup significant amounts of money they are owed, at a time when they need it most. “We must acknowledge that more people
could face vulnerable circumstances, but our ability to handle these scenarios and support those individuals remains the same. We believe our approach maintains the same sensitivity and pragmatism that recovery cases should always be handled with.”
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