68 Results
Nick Green Director at Purple Patch Broking Ltd
Credit and procurement teams are now facing a huge number of pressures when it comes to delivering the best customer service while cutting costs internally at the same time. The rising costs of utilities and fuel combined with low interest rates and unsustainable cost-income ratios means that organisations need to look to cut costs without comprom...
21 July 2022 /regulation /retail Financial Supply Chain
Cost savings for fintechs have always been important but in the current economic climate and in the wake of the COVID-19 pandemic, it has become increasingly important to save costs where possible. Fintechs who can effectively save costs without impacting customer experience will have the ability to compete on price and value with competitors whil...
14 July 2022 /regulation /retail Fintech
The credit data landscape is more competitive than ever with fintechs leveraging innovations like Open Banking. Plus, new unsecured lending options like BNPL are even overtaking credit card use. But with credit bureaux charging organisations different prices for the same data, there’s a much greater need for fintechs to understand how their contra...
21 June 2022 /regulation /retail Financial Supply Chain
According to an FCA survey, in 2020, 81% of UK adults had used a form of regulated credit within the last 12 months. As consumers move away from traditional, regulated forms of credit (like credit cards), how is the unsecured credit market shaping up? It’s changing rapidly — with fintech products becoming more easily accessible than ever before. W...
16 June 2022 /regulation /retail Financial Services Regulation
Recent changes to consumer borrowing behaviour, risk adversity and economic uncertainty have caused a major shift in the credit risk industry. And quite frankly, a much needed change! Credit Bureau contracts have simply become outdated and calls for change mean that data contracts must change to allow the procurement and credit risk teams within f...
17 May 2022 /regulation /retail Financial Supply Chain
Negotiating the right price and quality of data for bureau contracts is essential for credit providers. Despite this, many organisations are unaware that there are differences in pricing and do not have the knowledge or information needed to negotiate competitive pricing or the pricing that works best for them and their customers. These negotiati
28 April 2022 /regulation /retail Financial Risk Management
Data pricing is a challenge faced by every credit provider. In a competitive market, Bureaux price variations mean that some credit providers pay up to 1,500% more (per search) than competitors for the same data from the same provider. This is due to a lack of transparency in the industry which makes it difficult for credit providers to achieve a ...
26 April 2022 /regulation /retail Financial Services Regulation
Access to high quality data is a must within the credit industry. Not only does it ensure scorecard improvement for credit firms, it also enables fair and transparent credit decisions for consumers too. However, there is currently a lack of objective, evidence-based insight into the data provided by each Bureau, how they measure up against each ot...
17 March 2022 /regulation /retail Financial Supply Chain
In 2020, the value of buy-now-pay-later (BNPL) transactions reached £6.4 billion (a 60-70% growth on the previous year). BNPL offerings appeal to both merchants and shoppers so this growth is expected to continue. With the offer of interest-free monthly payment terms, consumers prefer this method of payment to credit cards. However, concerns from...
15 March 2022 /regulation /retail BNPL
How procurement can drive innovation and efficiencies in financial services The financial services sector is going through extraordinary levels of transformation. These external pressures are forcing financial institutions to focus hard on their credit data suppliers, seeking to marry innovation with quality and cost savings. Procurement can have a...
22 February 2022 /payments /retail Financial Supply Chain
Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Please read our Privacy Policy.