In Reference Appointments & Updates
Cifas and the Vulnerability Registration Service (VRS) have entered into a collaborative agreement that will offer protection to vulnerable individuals through the VRS national vulnerability database later this year. With effect from 1 August 2020, Cifas
will no longer be providing the Protecting the Vulnerable scheme. The Protecting the Vulnerable scheme
is a shared register that is used by local authorities, solicitors and healthcare trusts. It includes the data of people who are subject to Court Order of Protection, meaning that lenders can deal with any application made in their name appropriately, and also helps to prevent fraud against that person’s identity. Cifas is recommending that organisations
currently using the service move over to the VRS, which helps vulnerable consumers in the UK protect themselves against further debt or financial stress. Helen Lord, director of the Vulnerability Registration Service, said: ‘We are very
Aberdein Considine has added further industry experience to its Lender Services Practice Group with the appointment of a new operations manager. Tahir Bashir has joined the firm from the Ascent
Performance Group, bringing with him 20 years of frontline experience in property and volume debt recovery. The 45-year-old is a respected figure in the sector, having
worked extensively with clients such as RBS, Santander and Lloyds Banking Group during his career. He will be based at the firm’s Newcastle office, where he
Tahir Bashir
will oversee the firm’s rapidly expanding property and litigation team in the north-east of England. Myra Scott, partner-in-charge of the Lender Services Practice Group at the
firm, said: “Tahir is someone I have worked with in the past and I am delighted to welcome him to Aberdein Considine. He has worked with many of our clients throughout his career and his experience will be a welcome addition to our growing Newcastle operation. “Our lender services group has been growing at an incredible pace over the
last few years and given the multi-jurisdictional nature of our operations, it is important that we invest in the very best talent.”
pleased to have been selected to take over the Cifas Protecting the Vulnerable scheme to ensure the ongoing protection of vulnerable
Short-term and marketplace lender, Fiduciam, continues to lend in Spain during the Covid-19 state of emergency with two loans completed this week, totaling €2,445,000. The nature and complexity of the businesses involved
meant that traditional banks were unable to provide the quick turnaround essential in both cases. However, Fiduciam, which has continued to lend through the crisis both in the UK and Europe, offered a solution for both. The deals, one to provide working capital and one to complete a project, halted because of the coronavirus crisis, had differing, but complex, aspects to overcame, even during the lockdown. The first loan, a 24-month bridge, Fiduciam agreed in a timeframe that could
Cristina Villen
not be achieved by mainstream banks in Spain. It provided working capital for a construction company to proceed with a number of building projects for public authorities. It is secured by unencumbered and tenanted warehouses in the suburbs of Barcelona. The second transaction was for a villa within a golf complex on the Costa del
Sol, where work had stalled due to the state of emergency. It was complicated by the fact that the borrowers were from different countries. Fiduciam worked across three countries to complete the loan, when local banks were unwilling because the principals’ track record was not in Spain. Cristina Villen, business development manager for Fiduciam’s Spanish team,
said: “It is always pleasing to be able to provide funding for projects when the borrower has struggled with traditional lenders. But at the moment, given the COVID-19 crisis, it is especially gratifying to have been able to overcome the hurdles caused by the state of emergency. It goes to show that even during the most adverse situations businesses are working to get things done.”
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consumers. The VRS will be able to work with Cifas to offer a wider range of protection services going forwards.’
Global analytics and decision management provider FICO has partnered with OpenWrks – a provider of Open Banking- based digital-engagement applications. Under the partnership, which initially serves the UK market, FICO plans to combine OpenWrks financial budgeting and conversational AI technology with FICO’s market-leading integrated collections and omni-channel platform to assist creditors in making the most appropriate customer decisions during the crisis and beyond. Neil Cunningham, senior partner, UKI
FS & Nordics, FICO, said: “We have a rich heritage in transaction data analytics, so we’re excited about the complementary blend of capabilities and innovation this partnership will deliver. Having completed a strategic assessment of the market, OpenWrks is the clear market leader in delivering engaging consumer-facing applications and have an impressive record of innovation and scaling their Open Banking services, managing over 500,000 customers and 100 million API calls per month.”
Bristow & Sutor has been collecting unpaid Penalty Charge Notices at warrant stage for
June 2020
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