Pandemic-related borrowing and arrears now top £10.3bn, the number of UK customers deemed to be in ‘severe debt’ has jumped to 1.2 million, while a further 3 million at-risk consumers are teetering on the brink of delinquency. The numbers are starting to reveal the scale of the debt tsunami. Right now, there has never been a better time to plug into pre-emptive, autom…

Against a backdrop of uncertainty and financial instability, the importance of banks and the role they play at both a local and global economic level has never been higher. Retail consumers, small and medium enterprises, and commercial entities are looking to banks for increasing levels of support and assistance, especially as government-introduced stimulus programs s…

In part one of this series, I talked about selecting and empowering the right team to implement your new collections system.  This week I will describe how FICO’s hybrid agile implementation methodology allows our clients to implement our technology quickly, and with low risk help our clients achieve success. Benefits of an Agile Methodology Utilizing FICO’…

The UK’s Financial Conduct Authority (FCA) has handed out a £26m fine following poor treatment of more than 1.5 million struggling borrowers. It marks the highest fine issued to a lender for what it deemed a breach of consumer credit rules, since a £64m fine last year for lack of support for financially struggling mortgage customers. The new penalty related to…