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we have grown to 690,000 customers and we are proud to have helped them through a diffi cult period, including investing in our in- life management process for those customers in fi nancial diffi culty. We have also reintroduced our full range of product propositions to support the ambitions of SMEs, homeowners, landlords, vehicle owners and savers. “We continue our focus on helping UK
businesses and have seen growth in demand for specialist fi nance across all our SME product areas. Within Retail Mortgages there was steady growth in the Owner Occupied book and Buy to Let achieved record levels of product switches. Through improvements in our operational capacity, we have driven increases in the pipeline, leaving us well positioned for the second half of the year.”
Reward Finance Group has received a £50m increase in its credit line from alternative investment manager, Foresight Group. Reward now looks to double the size of its
business in the next three years, facilitated by its ambitious regional expansion programme and the launch of new funding products.
Virgin Money, the UK’s sixth largest bank, is the latest fi rm to become fully registered to the Contingent Reimbursement Model Code (the CRM Code) – a voluntary standard overseen by the primary self-regulatory body of the fi nancial services industry, the Lending Standards Board (LSB). The CRM Code sets out protections to prevent, detect and mitigate Authorised Push Payment (APP) scams. It also stipulates that fi rms should reimburse customers who are not to blame. Virgin Money’s registration signals its commitment to protecting customers from scams. Full registration follows a seven-month interim registration period, during which the LSB worked with Virgin Money preparing the bank for full registration. Emma Lovell, chief executive at the LSB, said: “There has been a signifi cant rise in APP scam cases in recent years. These scams can often form part of a wider, serious organised crime issue. Scammers are not slowing down, so protections and the fi ght against APP scams need to be stepped up. “As the sixth largest bank and a prominent challenger brand, Virgin Money’s sign-up sends a powerful message that protecting customers from scams should be a priority for all banks and fi nancial services fi rms.”
Emma Lovell The new facility brings the total provided
to Reward by Foresight to £130m, the largest credit facility the Foresight Structured Lending team has agreed to date. The increase in the credit line follows another impressive 12 months for Reward
Creditsafe Nederland BV (part of Creditsafe Group), the global credit data and risk intelligence experts announces the acquisition of Graydon. Graydon has been in operation for over 130 years and has been for the last fi ve years a 100% subsidiary of Atradius the leading global credit insurer. Graydon is the market leader in B2B information services in the Netherlands and Belgium, with a strong presence in the UK market as well. Both Creditsafe and Graydon are focused on providing an
with strong demand for its products, and the opening of three new offi ces in the last nine months – leading to a 50% increase in lending. Reward currently has 350 SME clients on its book, fi ve regional offi ces and aspirations to double the loan book to £250m in the next three years.
Nick Smith, group managing director of Cato Syversen
integrated business information off ering to accelerate the long-term growth and economic stability of their clients. Creditsafe and Graydon together will benefi t, and this will drive innovation and grow customer portfolios. Through this deal, Creditsafe will combine its expertise and international
coverage with Graydon’s market knowledge and value added analytical services to help both local companies and their global clients to keep on growing their business. “Graydon and its employees have found a strong and solid partner in Creditsafe,” said David Capdevila, CEO of Atradius. “We are cooperating with Creditsafe as one of our information providers successfully via our Iberian information provider Iberinform and we are convinced that Graydon will benefi t from the unrivalled expertise and market reach of Creditsafe.”
March 2022
www.CCRMagazine.com
Reward Finance Group, said: “It is excellent when a third party shares your vision for the future and is assured by your business model and projections. For Foresight to support us by increasing our credit line to a record £130m is a ringing endorsement of the way we operate. “Our three new offi ces, in Birmingham, London and Edinburgh, have been a great success giving us added confi dence to expand our regional offi ce network further, especially now we have an additional £50m to lend.”
Finverity has announced the appointment of Ahanna Anaba as head of sales – digital solutions and partnerships. The appointment comes at a time of increased demand for working capital solutions, especially among emerging market companies. Ahanna Anaba’s main focus will be on identifying, qualifying, and selling Finverity’s
47 In Focus
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