Payments and Collections

UK Labour Market Statistics – December release

Posted on Dec 12 2012 by

The recent momentum in labour market trends is rapidly easing in line with our expectations. While today’s labour market release still shows a rise in employment in the three months to October, the magnitude of this increase (of 40,000) is disappointing compared to earlier rises of 100,000 and 212,000 seen in the three months to September and August, respectively.

Wealthiest owe millions in unpaid council tax

Posted on Dec 12 2012 by

New research from Experian reveals that some of the most affluent sections of society owe millions of pounds in unpaid council tax.

Experian has analysed £170 million of outstanding council tax debt owed to a broad range of rural and urban local authorities across England. The analysis revealed that 17 per cent (£28 million) is owed by people from the most affluent sections of society. When applied to all outstanding council tax in England last year, (£600m), the research suggests that almost £100m is owed by the most affluent sections of society.

The Chancellor’s Autumn Statement 2012

Posted on Dec 06 2012 by

The Chancellor again faced a challenging background in presenting his Autumn Statement today as a stagnant economy over the past year shifted his deficit reduction strategy further off course. Missed targets meant that, as in last year’s Statement, the austerity programme has been extended to allow room for manoeuvre in boosting the flagging economy.

10 steps to increasing your collections strategy

Posted on Dec 05 2012 by

With your customer’s budgets under increasing strain and household debt levels running at over £2 billion* it is essential for you to optimise your collections activity.

The latest white paper from Experian examines the need for flexible and agile collections solutions that manoeuvre you through the changing economic landscape and help you engage more successfully with customers.

Our new white paper offers a simple ten-step guide to improving your collections strategies including:

Mortgage fraud set to surge in 2013 and will hit highest level ever

Posted on Dec 04 2012 by

Experian predicts there will be a dramatic increase in attempted mortgage fraud in the UK next year, bringing the number of people fraudulently trying to obtain home loans to the highest level since records began in 2009.

US online gaming reaches point of no return

Posted on Nov 29 2012 by

Despite recent coverage of the US elections virtually eclipsing the issue of online gaming, moves towards it were quietly progressing behind the scenes.

Nevada, closely followed by Delaware, have now approved the nation’s first interactive gambling licenses, while in August the Federal District Court for the Eastern District of New York determined that Hold ‘em Poker was not actually ‘gambling’, instead ruling it a game of skill and expertise.

The clock’s ticking as new Euro rules expose businesses to €20 billion payment bill

Posted on Nov 29 2012 by

European businesses risk losing billions of Euros as a result of failure to tackle simple payment errors according to a new Experian report.

The switch to a single SEPA payment system – designed to simplify and streamline processing operations for domestic and international payments – will expose out-of-date account data and other errors that were previously overcome through a patchwork of locally implemented fixes.

Microsoft adopts Experian’s SEPA payments services

Posted on Nov 29 2012 by

Microsoft has opted for Experian’s Bank Wizard Global to handle accurate and timely commission payments to Microsoft Corp.’s international network of re-sellers and supply vendors.

Under new Single Euro Payments Area (SEPA) rules, the use of the International Bank Account Number (IBAN) to uniquely identify the bank and account of payment beneficiaries will soon become mandatory for all internatonal and domestic euro payments.

Are lenders becoming too lenient?

Posted on Nov 23 2012 by

In the hope of strengthening customer relationships before the next market boom, many lenders have taken a proactive approach to dealing with customers struggling under the backlash of the recession, offering leniency on payment terms and allowing payment holidays.

Is bad debt the price of growth?

Posted on Nov 23 2012 by

As the economy fluctuates between contraction and growth, those businesses getting ready for the latter must prepare to face a new set of challenges. In the past, the volume of sales coming in meant businesses could absorb a certain amount of bad debt without cause for concern and credit departments were forced to absorb this debt in the name of ‘growth’. Today, even a little bad debt can cause big problems.