Payments and Collections

Santa is a fraud

Posted on Dec 18 2012 by

Santa is a fraud. Just look at the warning signs, says device recognition specialist and Experian international partner iovation. It identifies one billion mobile devices globally and currently conducts 2.5 billion device reputation checks a year. It enables clients to assess the likelihood of transactions being fraudulent based on the device from which an application is made. Its sophisticated real-time risk assessment analytics stops some 150,000 potential online fraud attempts each day.

Share

Post-Christmas sales set to highlight retailers’ unholy trinity – Tolerance versus convenience versus security

Posted on Dec 17 2012 by

Given the ongoing economic squeeze on many households, tolerance, convenience and security are now the three critical issues and of acute importance for retailers and ecommerce sites.

The dilemma faced is epitomised by three separate findings made by Experian. On the one hand online shoppers will tolerate up to four minutes of checks before abandoning their transaction. But despite ecommerce’s relative convenience, it is estimated that more than £1 billion worth of online transactions were abandoned as customers got frustrated at delays.

Share

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.

Share

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.

Share

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.

Share

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:

Share

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.

Share

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.

Share

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.

Share

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.

Share