Peer-to-peer lending has come a long way since its inception 10 years ago, but does the recent appearance of institutional lending in the UK threaten to end true peer-to-peer before it has reached its true potential? In this article, Karl-Magnus Wadsack Principal Consultant at Equifax takes a look at the Peer-to-Peer industry.
Equifax held its second Retail Regulatory Forum in Manchester this April. Attended by a range of finance companies serving the retail market, it was an opportunity to hear from subject matter experts on some of the key regulatory themes currently facing the sector. It also gave delegates a chance to share insights and debate some of their common challenges.
John Marsden, Identity and Fraud Consultant at Equifax, talked to Perspective about how technological advances are helping reduce fraud, but that there’s still a fine balancing act between process, cost and customer experience.
The latest Fraudscape report from Cifas was published in March. Looking at UK fraud trends it describes recorded fraud as being up by a quarter and increasingly organised. It also shows a continued threat of identity theft as young adults are increasingly targeted.
Peter Welch, Intermediary Director, Equifax Touchstone, talks to Perspective about how important it is for Independent Financial Advisers to cleanse their client bank data and discover unknown treasures that are simply lying in wait.
Mark Sanders, TDX Group, explains why, when it comes to collections and recoveries, organisations generally concentrate their efforts on consumers who pay. However, there also needs to be a greater understanding of, and effort to reach out to, those who don’t.
Paul Birks, Decision Solutions Director, explains why organisations need to have a complete view of their customers’ affordability, needs and wants if they’re to build stronger and more profitable relationships with them.
Melanie Hosker, Head of Public Sector Services talks about the burden of council tax debts on local budgets and how councils are striving to locate and identify debtors who can, but simply won’t, pay, whilst still ensuring they treat everyone fairly.
FCA authorisation, a renewed focus on affordability and the prospect of interest rate rises means lenders are reviewing their policies, procedures and risks. Consumer credit industry journalist Heather Greig-Smith talks to the Finance & Leasing Association and British Bankers Association for their perspective on the changing regulatory focus.
Equifax commissioned research among 119 UK MPs to gain an insight into politicians' perceptions of the impact of public sector debt on services in their own constituencies and what measures they felt, if any, were appropriate to addressing the issue.
A whitepaper produced following YouGov consumer research and the highlights of an Equifax hosted roundtable debate with fraud and risk specialists from some of the UK's leading companies, and crime prevention and legal specialists.