Articles with tag: debt

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FCA highlights continued support for consumers struggling with payments

23 Oct 2020 | Payments General

The Financial Conduct Authority has urged consumers struggling to make repayments due to the impact of coronavirus (Covid-19) to speak to their lenders about options available to them. 

Financial Conduct Authority, lending, loans, repayments, COVID-19, financial resilience, debt, payments, bills

Accelerated Payments obtains GBP 20 mln financing

19 Oct 2020 | E-invoicing, SCF & E-procurement

SME funding provider Accelerated Payments has secured a GBP 20 million senior debt line from asset manager Channel Capital Advisors to expand AP’s receivables financing capability. 

Accelerated Payments, financing, SME, receivables, senior debt line, asset manager, Channel Capital Advisors, invoice financing, Europe, Ireland, UK, covid-19, FCA

ClearBank, Tide partner to grant GBP 25 mln to SMEs

23 Sep 2020 | Payments General

Cloud-native clearing bank ClearBank and UK-based business banking platform Tide have been awarded GBP 25 million to help UK-based SMEs grow after the coronavirus pandemic.

ClearBank, Tide, SMEs, UK, United Kingdom, grant, award, clearing bank, business banking platform, coronavirus, pandemic, financial support, Brexit, government, digital services, open banking, funding, debt, equity, digital payments, business development

US-based NexaCollect rolls out app for collection agency services

21 Sep 2020 | E-invoicing, SCF & E-procurement

Accounts receivable portal NexaCollect has launched an Android mobile app for its collection agency information services.

NexaCollect, mobile app, app, collection agency, accounts receivable, portal, Android, Nexa App, collection agency information, smartphones, performance statistics, debt collection forms, commercial collections, account, commercial collection agency

Fvndit receives USD 30 mln debt financing for SMEs in Vietnam

11 Sep 2020 | E-invoicing, SCF & E-procurement

Fvndit, a US/Vietnam-based Fintech has received a USD 30 million investment of debt financing led by Accial Capital and Variant Investments.

Fvndit, debt financing, SMEs, Vietnam, loans, fintech, lending

Covid era causes defaults on invoices, survey

10 Sep 2020 | E-invoicing, SCF & E-procurement

Fintech Onguard has released a survey on finance professionals, 48% of whom observing an increase in late payments since the pandemic started.

Fintech, covid, invoices, late payments, Onguard, pandemic, finance professionals, automated debtor processes, cash flow, delayed payments, overdue payments, programme, Excel, automation, Numbers, alternative lenders

Artis adds USD 1.5 mln through new funding

26 Aug 2020 | Payments General

US-based fintech startup Artis has opened a new seeding round in support of onboarding first financial partners and growing capabilities of consumer loan platforms.

Artis Technologies, Artis, fintech, startup, US, United States, seeding round, funding, onboarding, financial partners, consumer loan platforms, lending, financing, Fintech Ventures Fund, debt, equity financing, Artis Connect, Artis Credit, banks, credit unions, lenders, financial institutions

China-based P2P lenders report USD 115 bln in losses due to scams

17 Aug 2020 | Digital Identity, Security & Online Fraud

Peer to peer (P2P) investors based in China have reported losses of over USD 115 billion in unpaid debt, due to failed lending platforms.

China, P2P lending, lenders, P2P lenders, scams, losses, unpaid debt, lending platforms, Chinese Banking Regulatory Commission, regulators, funds, investigations, scammers, fraudulent schemes

Nibla and Dancerace partner to boost credit insurance access for UK SMEs

11 Jun 2020 | E-invoicing, SCF & E-procurement

Credit insurers Nimbla and ABL operating system Dancerace have partnered to increase SMEs’ access to credit insurance when they apply for invoice finance. 

invoice, finance, partnership, UK, SMEs, ABL, Nimbla, Dancerace, Bad Debt Protection, BDP, banks

OBIE launches online app store amid COVID-19

09 Jun 2020 | Online & Mobile Banking

The Open Banking Implementation Entity (OBIE) has announced the launch of an online app store to assist customers with finding open banking-enabled financial products. 

OBIE, CMA, open banking, COVID-19, Allied Irish Bank, Bank of Ireland, Barclays, Danske, HSBC, Lloyds Banking Group, Nationwide, RBS Group, Santander, app store, financial products, budgeting, accountancy & tax, payments, borrowing, debt advice, financial safeguarding, The Power of Network, Ecosystem Infographic, TPP Events

Merkado, Kapital Connection to offer financing solutions to India-based businesses

09 Jun 2020 | E-invoicing, SCF & E-procurement

India-based digital solution provider Merkado and Singapore-based fintech Kapital Connection have signed a Memorandum of Understanding to provide financing facilities to businesses.

Merkado, Kapital Connection, cloud platform, fintech, India, financing solution, SME, EMI, loan, cashflow, digital marketplace, financial institutions, equity, debt financing, capital loan, invoice, project financing, asset-backed lending

Commerzbank to raise up to 3 billion euros of capital

28 May 2020 | E-invoicing, SCF & E-procurement

Germany-based Commerzbank has announced it will raise up to 3 billion euros of capital.

Commerzbank, Germany, AT1, risk debts, banks, UK, Lloyds

Invoice finance demand to surge after lockdown

22 May 2020 | E-invoicing, SCF & E-procurement

Ireland-based invoice finance providers have announced demand growth expectations as companies reopen after virus lockdowns.

Invoice finance, lockdown, IAIFA, Ireland, SME, credit lines, revolving credit facility, lender, debtor, interest, loans, overdrafts, pillar banks, AIB, Bank of Ireland, Ulster Bank, Bibby Financial Services, Capitalflow, Close Brothers, Grenke Finance

FCA announces support for struggling customers

22 May 2020 | Payments General

The Financial Conduct Authority (FCA) has announced proposals aimed at supporting for customers who are struggling to pay their mortgage due to coronavirus crisis.

FCA, mortgage, coronavirus, COVID-19, payments, payment holiday, debt

Dreams, Silverlake Symmetri to launch B2B platform

18 May 2020 | Payments General

Sweden-based fintech Dreams has partnered with Singapore-based software service provider Silverlake Symmetri to launch a B2B platform.

Dreams, Silverlake Symmetri, B2B platform, savings, debt, financial coaching, banking, payments

US to borrow USD 3 tln for coronavirus-related relief

06 May 2020 | Payments General

The US has declared intentions to borrow USD 3 trillion in the second quarter of 2020, as coronavirus-related rescue packages blow up the budget.

US, government bonds, coronavirus relief, government loan, America central bank, US debt

Ecommerce: why convenience should extend to debt collection too

06 Feb 2020 | Ecommerce

Marija Loncar of Arvato says what has not been said about customers’ convenience in the ecommerce space: companies should highly consider a customer-friendly debt collection process too

Arvato, ecommerce, debt collection, customer experience

Berkeley Payments rolls out DirectSend to support businesses transfer funds in real-time

31 Jan 2020 | Online Payments

Berkeley Payments, a global payments solution provider, has launched DirectSend, a payments platform that supports real-time transfers.

Berkeley Payments, global payments solution provider, DirectSend, 3D Secure 2 0, debt repayment, prepaid cards, Canada, product launch

Verafin secures USD 515 mln funding for fraud detection services

26 Sep 2019 | Digital Identity, Security & Online Fraud

Financial crime management software company Verafin has secured a half-billion dollars in debt and equity financing to spur expansion among large banks.

Verafin, debt, equity funding, fraud detection, banks, financial crime, fraud, credit unions, US, financial institutions

Chase cancels credit card debt for Canadian customers

12 Aug 2019 | Cards

JP Morgan Chase has retreated from the Canadian credit card market and has cancelled credit card debt for its remaining customers.

Chase, credit card, card debt, Canada, bank