In Reference Appointments & Updates
Hoist Finance UK is using rich communications service (RCS), a new messaging technology replacing SMS on Android smartphones that provides customers with a two-way conversational and transactional interaction with which to better manage their debt and their interaction with Hoist Finance. RCS, where adoption is growing in the
retail sector, enables Hoist Finance to better engage with its customers via automated chatbots to propose settlement offers, issue payment reminders, and other conversational communications using a channel with which many customers are becoming familiar and prefer to use. “Services that were once only available
through the call centre or self-service portal can now be delivered through RCS, giving customers the choice in how they wish to engage with us in a way that is most convenient to them. In the retail environment, customers take it for granted that they can interact in this way and they expect us to offer similar solutions. “Furthermore, the ability for a customer
to self-serve in both our portal and through our messaging channels leads to some customers engaging who would not
Graydon has won the prize for Outstanding Fraud Consultants at the inaugural Tackling Economic Crime Awards 2019. The awards are held in high regard
as they are endorsed and connected to one of the most authoritative voices on fraud: the University of Portsmouth’s Centre for Counter-Fraud Studies. Professor Martin Gill, founder of the TECAs, commented: “The judging process is strict and robust; judges mark independently against a set of criteria, and they commit to declaring any conflict of interest. Each entry must achieve a fixed score threshold to become a finalist, ensuring consistent quality across the competition; which means all the finalists – individuals, teams and companies represent outstanding performance of the highest level.” “Graydon UK was shortlisted for the awards alongside some of the big
Simon Blackwell
industry names like PWC and Nationwide”, said Simon Blackwell, managing director at Graydon UK. “This award underlines the fantastic work that our intelligence team does every day – saving our clients hundreds of thousands of pounds every week – and deservedly recognises our team as the best in the business. It puts us at the forefront of the industry, by creating solutions that help companies in the ongoing fight against economic crime and fraud.”
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The government has introduced the Fifth EU Money Laundering Directive (5MLD) into UK law as of 20 December 2020. It was introduced as part of the Money Laundering and Terrorist Financing (Amendment) Regulations 2019 and came into force on 10 January 2020. A key amendment to the regulation is new wording
which says that wherever possible businesses must use electronic verification for their anti-money laundering checks rather than just looking at paper-based documents such as passports and driving licenses. Martin Cheek, managing director of SmartSearch said: “The Fifth Money
Martin Cheek
Laundering Regulations coming into law may well catch a number of people by surprise, happening, as it has, so close to Christmas. “It is the need for electronic verification that is likely to take most people by
surprise. Any lenders or IFAs who do not already have a trusted means of doing this will need to implement this immediately to ensure they are compliant and save themselves from a heavy fine. “The regulations are designed to help tackle rising levels of fraud and
eliminate money laundering, things that are likely to be a key priority for everyone this year.”
normally do so,” said Peter Mounsey, group head of digital for Hoist Finance.
Arrow Global has announced that Arrow Credit Opportunities SCSp and related entities, the ‘Fund’, raised €628.5m of third-party capital commitments into an
eight-year closed end fund structure, drawing commitments from some of the largest and most sophisticated global investors from diverse geographies and sectors. Lee Rochford, group chief executive officer
of Arrow Global said: “This first successful fund raising is transformational for the group. It shows we are successfully executing our strategy to transform the business through the build-out of our fund- management capabilities. This represents the completion of a significant initial stage of this strategy and part of our continued drive to engage with capital partners and grow our assets under management. I have been impressed with the speed of execution of this fund raising, driven by strong demand from institutional investors and the fantastic efforts of the Arrow Global team.”
New legislation coming into effect on 6 April 2020 will see HRMC gain preferential treatment over non-preferential and floating charge holders; in particular those banks who have insolvent customer debts or security. While HMRC are able to reclaim the
£185m per year it currently loses when VAT, PAYE, income tax, student loan repayments, employee National Insurance Contributions and construction industry scheme deductions paid by employees and
January 2020
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