Collections

Atradius Collections releases latest International Debt Collections Handbook

Wed, 22 May 2013 11:57:38 +0100

Amsterdam, Netherlands; 22. May, 2012 - Atradius Collections, the global expert in domestic and international debt collections, releases the 7th edition of the International Debt Collections Handbook. Two additional countries have been included, Bulgaria and Finland, increasing the number of countries covered to 35.

Cabot Credit Management appoints a Head of Compliance

Mon, 20 May 2013 16:27:21 +0100

Cabot Credit Management (CCM) has appointed Ian Jackson as Head of Compliance with immediate effect.

Noble Systems Announces Award Winners at Select Noble Users Group EMEA Conference

Thu, 02 May 2013 10:55:40 +0100

Manchester, UK – Noble Systems, a global leader in unified customer communications, hosted its second annual Select Noble Users Group (SNUG) EMEA conference in Manchester on 16th and 17th April. Designed to inform attendees about features, applications and new product releases, the event focused on improving contact centre efficiency and featured guests from industries including financial services, charities, county councils, debt management, accounts recovery and more.

TDX announces Australian expansion: John Rogers is appointed as Managing Director of TDX Australia

Wed, 01 May 2013 10:36:23 +0100

TDX, the UK’s leading provider of data and technology-driven debt solutions, has announced its expansion into the Australian market by appointing John Rogers as Managing Director of its Australian operation.

Winfrasoft PINgrid Wins Best Secure Transaction Solution At SC Awards Europe 2013

Wed, 24 Apr 2013 13:12:51 +0100

Winfrasoft, the multi-factor authentication security specialists, are today proud to announce that its PINgrid solution has been awarded the Best Secure Transaction Solution at the prestigious SC Awards Europe 2013. The annual awards are the most coveted and prestigious accolades for the information security industry.

TDXs online payments channel Payments Place launches in Spain

Tue, 23 Apr 2013 17:05:49 +0100

TDX, the UK’s leading provider of data and technology-driven debt solutions, has launched Payments Place, the online and mobile debt payment portal, in Spain.

Bottomline Technologies and SWIFT Enhance Business Relationship

Wed, 17 Apr 2013 15:27:23 +0100

PORTSMOUTH, N.H. – 17th April 2013 – Bottomline Technologies, a leading provider of cloud-based payment, invoice and banking solutions, today announced that it has been awarded a further accreditation from SWIFT, becoming the SWIFT Business Partner for UK, Ireland and the Channel Islands. The award makes Bottomline one of the most highly accredited SWIFT Partners worldwide and builds on its already strong relationship with SWIFT.

Marstons Birmingham office welcomes European enforcement visitors

Wed, 17 Apr 2013 12:12:42 +0100

Marston’s High Court Enforcement Division was pleased to have hosted a study visit to its office in Birmingham last week.

Leonard Curtis Business Solutions Group appointed to NAMAs UK-based (corporate) insolvency panel

Wed, 10 Apr 2013 13:08:27 +0100

Corporate recovery specialist, Leonard Curtis Business Solutions Group, has been appointed to Ireland’s National Asset Management Agency’s (NAMA) UK-based (corporate) panel to provide expertise and knowledge in complex corporate and property enforcement as well as in insolvency cases.

AES allowed new patent In South Korea

Fri, 05 Apr 2013 09:42:12 +0100

AES, a leading provider of advanced interactive software solutions for banking transactions, announced today the allowance of their South Korea patent application 10-2007-7011489 titled “System and Method for Resolving Transactions”.

Phillips & Cohen Associates Australia opens for business!

Tue, 02 Apr 2013 18:17:03 +0100

Phillips & Cohen Associates International, Ltd. the global arm of the industry’s leading deceased recovery specialist today announced the formal opening of its Australian operation, headquartered in Melbourne, with the announcement of its Australian business leader.

Consumer Delinquencies Decline Significantly in Fourth Quarter 2012

Tue, 02 Apr 2013 10:50:48 +0100

WASHINGTON – Consumer delinquencies declined significantly in last year’s fourth quarter, with bank card delinquencies falling to levels not seen since the third quarter of 1994, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin.

OB10 supports e-Invoice standard ZUGFeRD for greater e-Invoicing adoption among SMEs

Thu, 21 Mar 2013 23:24:24 +0100

London, 21 March 2013 – OB10, the e-Invoicing network, has taken another step towards making straight-through invoice processing available to companies of all sizes by supporting ZUGFeRD, a cross-industry standard for PDF invoices.

US Department of Veterans Affairs Financial Services Center Mandates Electronic Invoicing

Thu, 14 Mar 2013 12:46:29 +0100

Atlanta, March 14, 2013 – The US Department of Veterans Affairs (VA) has finalized actions to mandate electronic invoice submission from suppliers to the VA Financial Services Center (VAFSC). The transition supports the requirements of the Improper Payment Elimination and Recovery Improvement Act signed by President Obama on January 10, 2013. The Federal Mandate is located in the Federal Registry at https://federalregister.gov/a/2012-28612 <https://federalregister.gov/a/2012-286 ...

Winterhill Largo joins Irish banking crisis agencys insolvency panel

Wed, 13 Mar 2013 16:00:15 +0100

Asset recovery and insolvency support group Winterhill Largo has been appointed to the panel of preferred UK insolvency practitioners for Ireland’s National Asset Management Agency (NAMA).

Aktiv Kapital Group delivers solid growth in 2012

Mon, 11 Mar 2013 09:22:36 +0100

The Aktiv Kapital Group, a leading investor and debt servicer in European and Canadian non-performing loans, posted strong results for the 2012 financial year, with 14% growth in revenues and 19 % growth in profitability.

New EU Payment Directive good news for SMEs cashflow

Fri, 08 Mar 2013 17:34:52 +0100

The new EU Late Payment Directive which comes into force on the 16th March 2013 is good news for SME’s. Used effectively in credit control procedures, it will boost cash flow and profitability.

Late Payments in Russia Hit Worst Level Since October 2010

Thu, 07 Mar 2013 11:51:30 +0100

 MOSCOW — March 7, 2013 — FICO, the leading provider of analytics and decision management technology, and the National Bureau of Credit Histories (NBKI), Russia’s leading credit bureau, today released data showing that Russian borrowers’ credit repayments for January 2013 were at the lowest level since October 2010. The FICO® Credit Health Index fell 10 points to 109 on the scale, 2 points lower than October 2013 and 6 points lower than January 2012. ...

Equens processes billionth SEPA transaction

Thu, 28 Feb 2013 12:40:23 +0100

Utrecht, the Netherlands, February 28, 2013 – Equens processed its billionth SEPA transaction last week. Since the launch of the SEPA Credit Transfer (SCT) scheme in January 2008 and the introduction of SEPA Direct Debit (SDD) in November 2009, transaction volumes have shown progressive growth. Although Equens’ systems have been prepared for large SEPA payment volumes since day one, it has taken five years to reach the mark of 1 billion SEPA transactions, as many market parti ...

SIX Payment Services and Diners Club Italy sign a long-term merchant acquisition agreement

Wed, 27 Feb 2013 12:13:35 +0100

27th February 2013 - SIX Payment Services (Europe) S.A., the international provider of card-based payment solutions, and Diners Club Italia S.r.l., which belongs to Discover Network and Diners Club International, today announced the signing of a long-term merchant acquisition agreement for Italy. The purpose of the agreement is to promote the acceptance of Diners Club and Discover cards in Italy.

mCommerce redefines the way we will buy in the future.

Tue, 26 Feb 2013 13:13:21 +0100

The GSMA Mobile World Congress 2013 started yesterday in Barcelona and will run until 28 February under the theme "Redefining Mobile" in the Gran Via exhibition centre, , the Montjuic Exhibition Centre, with a spectacular 67,000 spectators increasing last years attendance. The event will have 1739 exhibitors confirmed the organiser and will be covered by more than 3,300 media. The event will provide Barcelona with revenue of over 300 million euros as well as the indirect income r ...

Banco do Brasil expands use of CGIs CACS® Enterprise,

Tue, 19 Feb 2013 17:13:20 +0100

Fairfax, VA, February 19, 2013 - CGI Group Inc. (CGI), a leading provider of information technology and business process services, today announced that Banco do Brasil, the largest financial institution in Brazil and the 17th largest bank in the world, has expanded their use of the CGI Collections360TM software component, CACS Enterprise, in response to increasing volumes of business. The flexibility and scalability of CACS enables the bank to process additional customers and quic ...

Businesses kept waiting 52 days for payment

Tue, 19 Feb 2013 16:56:59 +0100

An unhealthy cash flow cycle exists among Australian businesses, with 62 per cent of accounts settled late and firms taking on average, 52 days to pay their bills, according to the latest Trade Payments Analysis by Dun & Bradstreet.

CBHV and CU Collections form Strategic Partnership

Tue, 19 Feb 2013 16:45:59 +0100

Manassas, VA (February 5, 2013): CU Collections, a division of Innovative Strategic Solutions (ISS), is pleased to announce that Collection Bureau Hudson Valley (CBHV) has formed a strategic partnership with ISS’s parent company, FedFinancial Federal Credit Union (FCU).

SIX Payment Services is a founding member of UnionPay International

Wed, 13 Feb 2013 18:14:08 +0100

SIX Payment Services is taking a stake in UnionPay International Corporation Limited (UPI), which was set up by China UnionPay (CUP) at the end of 2012 with the aim of more selectively promoting use of the UnionPay card across the globe. Members of the new enterprise include companies from the financial industry throughout the world.

Noble Systems and Empatel Announce Strong Outbound Partnership

Tue, 05 Feb 2013 21:13:45 +0100

Manchester, UK – February 5, 2013: Noble Systems, a global leader in unified customer communications, are pleased to announce their recent partnership with Empatel, a market leading reseller in Turkey, specialising in Unified Communications Solutions. The partnership has enabled Noble Systems to penetrate new territories and has already secured two new customers.

Card payment processing remains with Equens - ABN AMRO renews contract by three years

Wed, 30 Jan 2013 16:12:09 +0100

Utrecht, 30 January 2013. ABN AMRO and Equens have signed a three-year contract for the processing of all of ABN AMRO's card payments. It concerns card payments by ABN AMRO cardholders as well as card payments of retailers holding an ABN AMRO bank account. The renewal of the contract is part of an earlier framework agreement between the two companies. Currently, Equens also handles giro payment processing for ABN AMRO Bank.

Phillips & Cohen Associates announces international expansion plans

Tue, 29 Jan 2013 17:57:10 +0100

Phillips & Cohen Associates International Ltd, the global arm of the industry’s leading deceased recovery specialist, today confirmed its intention to expand its unique service offering to a third continent with the selection of Melbourne as its Australian Headquarters.

South East Asian expansion for Winterhill Largo

Tue, 29 Jan 2013 11:21:33 +0100

Asset recovery and insolvency support group Winterhill Largo is expanding its international operations in South East Asia.

Teleperformance acquires the full control of TLS Contact

Mon, 28 Jan 2013 18:49:19 +0100

Teleperformance announces today the acquisition of 100 % of the shares of its subsidiary,TLS Contact, a business process outsourcing (BPO) company, leader in Europe in the management of customer care contact centers under face-to-face mode, with a strong focus in serving governments and notably the visa application process area.

FleetNet America, Inc. Selects SunGards AvantGard Receivables to Help Improve Cash Flow

Wed, 05 Dec 2012 17:07:15 +0100

New York – FleetNet America, Inc., a vehicle maintenance company that coordinates maintenance services for medium and heavy duty fleets, has selected SunGard’s AvantGard Receivables (GETPAID) to drive automation and workflow across its order-to-cash cycle to help increase cash flow.

First Atlantic Commerce wins International Innovation of the Year Award

Wed, 05 Dec 2012 16:59:37 +0100

Hamilton, Bermuda -- First Atlantic Commerce (FAC), a global online payment solutions provider, won the Bermuda Government’s Department of Ecommerce TechTime 2012 Technology Award for Innovation of the Year, International Market Focus, last week.

American Express Payment Gateway Continues Geographic Expansion

Tue, 04 Dec 2012 12:08:56 +0100

London, Paris – American Express and Transaction Network Services have announced that the American Express® Payment Gateway will now be available in France. Following its successful launch earlier in the year, the American Express Payment Gateway enables businesses to quickly and easily set up online payment functionality through custom implementation and in-country solutions. The gateway will also help manage e-commerce and other card-not-present transactions ...

Cabot Financial Ireland Wins a Hat Trick of Consumer Collections Awards

Tue, 04 Dec 2012 11:47:15 +0100

Cabot Financial Ireland, Ireland’s leading acquirer and manager of consumer debt, won three awards at the annual Irish Institute of Credit Management (IICM) awards night. The company took home the award for Consumer Credit Team of the year, Credit Management Executive of the year and Consumer Credit Manager of the year.

SunGard Study Reveals Shifting Attitudes toward Cash Investments

Thu, 29 Nov 2012 14:36:41 +0100

New York, NY – SunGard has completed a cash management study that highlights corporate treasury professionals’ changing attitudes toward cash investments driven by economic, regulatory and risk concerns. The study examines their outlooks on strategic cash holdings, asset allocation, investment policies and transaction execution.

SunGard Named a Top 20 Companies of the Decade by Collection Advisor

Tue, 13 Nov 2012 14:45:19 +0100

November 13, 2012— New York, NY – Collection Advisor, a leading credit and collections magazine for debt collectors, has named SunGard in its list of Top 20 Companies of the Decade. The distinction recognizes SunGard’s AvantGard Predictive Metrics, a statistical modeling solution that helps collection agencies and debt buyers prioritize collections for improved debt recovery while also helping debt buyers to assess consumer portfolio risk.

Saxo Bank Partners with Greenline for Testing, Certification and Monitoring Solutions

Thu, 08 Nov 2012 15:22:28 +0100

CHICAGO, November 8, 2012 -- Greenline Financial Technologies, Inc., a leading provider of electronic trading marketplace solutions, today announced its partnership with Saxo Bank, the leading global online foreign exchange (Forex) trading platform, to deliver Greenline’s suite of testing, certification and monitoring technology with full support from Greenline’s Professional Services team. Saxo has been using Greenline’s products since May 2012. This partnership now repr ...

KBC Bank once again selects Equens for SCT processing

Mon, 29 Oct 2012 12:37:40 +0100

Brussels (B) - Utrecht (NL), 29 October 2012. KBC Bank and the pan-European card and payment processor Equens SE have reached an agreement on the processing of SEPA Credit Transfers (SCT). The two companies have signed a contract renewing their existing arrangement until 2015. Equens processes all of the SCT transactions for the branches of KBC Bank in Belgium, France, the United Kingdom and the Netherlands. In the coming years, the number of these transactions – more than 100 milli ...

Global volatility prompts Payments Factory momentum

Wed, 17 Oct 2012 16:33:21 +0100

Richard Ransom, product marketing manager, Payments of Bottomline Technologies says that global volatility prompts Payments Factory momentum.

Noble Systems Acquires TelStar Hosted Services

Thu, 11 Oct 2012 15:36:30 +0100

Noble Systems Corporation, a global leader in unified contact centre technology solutions, today announced the acquisition of assets from TelStar Hosted Services, Inc, a CaaS contact centre technology multi-vendor provider offering blended services, predictive dialler capabilities, automated voice messaging and more.

Welcome Financial Services chooses Target's managed services loans solution

Wed, 10 Oct 2012 15:13:30 +0100

Welcome Financial Services (“Welcome”), the specialist lender, has selected Target Group to provide its consumer loan administration and arrears management software. Welcome will use Target’s system to process secured loans, unsecured loans and hire purchase agreements with the aim of optimising collections of its loan portfolios.

Noble Systems Acquires ALI Solutions

Wed, 03 Oct 2012 19:04:45 +0100

Manchester, UK – September 27, 2012: Noble Systems Corporation, a global leader in unified contact centre technology solutions, has announced that it has acquired assets from ALI Solutions, Inc (formerly Austin Logistics), an award-winning provider of contact centre decisioning and analytics applications and technology partner to 5 of the top 10 largest global banks. The transaction includes all intellectual property and assets including Vincio, CallTech and OnQ, ALI’s award- ...

Firstsource win outsourcer of the year at call centre awards

Wed, 03 Oct 2012 18:40:49 +0100

London, October 3 2012: Firstsource Solutions, a global provider of business process outsourcing (BPO) services, has been awarded the accolade of Outsourcer of the Year in the European Call Centre and Customer Service Awards 2012. This prestigious award was presented to Firstsource at the gala awards dinner that took place at the Hilton Park Lane, London on October 2nd.

Noble Systems Acquires Stratasoft

Mon, 24 Sep 2012 18:11:38 +0100

Manchester, UK – September 24, 2012: Noble Systems today announced the acquisition of Stratasoft, Inc., an award-winning provider of hosted and premise-based contact centre technology. The acquisition includes all Stratasoft brands and intellectual properties.

VPI Selects HP's Autonomy to Deliver Advanced Speech and Multichannel Analytics

Fri, 07 Sep 2012 15:35:10 +0100

Thursday, September 6, 2012 - Autonomy, an HP Company, today announced that VPI, a global provider of workforce optimization solutions, will embed Autonomy’s Intelligent Data Operating Layer (IDOL) in its speech and multichannel analytics solutions.

EOS Ten Nations Survey 2012 "European Payment Practices"

Wed, 05 Sep 2012 10:12:45 +0100

When it comes to paying, Greek consumers are the most unreliable compared with other European countries, with only 69.5% paying their bills on time. Romanians, in contrast, are more reliable, settling 92.2% of all debts within the specified period. This figure puts them in first place in the country comparison, ahead of Russian (90.0%) and German (82.4%) consumers.

CSR makes invoicing easier for suppliers with OB10

Thu, 23 Aug 2012 16:31:46 +0100

To deliver continuous improvements to its customers and business partners, CSR maintains a determined focus on innovation and customer service. e-Invoicing plays an important part in supporting these objectives by strengthening relations throughout the supply chain.

Italian banks poised to shed assets as lending quality falls to decade low

Thu, 16 Aug 2012 00:01:00 +0100

Italian banks have an estimated €281 billion of non-performing loans (NPLs) and non-core assets on their balance sheets according to a new report from Deloitte, the business advisory firm. ‘The Italian non-performing loan survey: Outlook for 2012-2013’ , focuses on non-performing debt and whether Italian banks will divest these assets.

Sanden International Goes Live on SunGards AvantGard Receivables (GETPAID)

Mon, 06 Aug 2012 17:28:24 +0100

August 6, 2012— New York, NY – Sanden International (USA), Inc., manufacturer of air conditioning compressors for light vehicles, heavy trucks, agricultural equipment, construction vehicles, buses, and other special applications, has implemented SunGard’s AvantGard Receivables (GETPAID) in a Software-as-a-Service (SaaS) environment to help lower DSO (days sales outstanding) and reduce invoice dispute cycle times through automation of collections and dispute workflow ...

Boubyan Bank Will Use FICO System to Manage Collections on Growing Credit Portfolios

Thu, 12 Jul 2012 12:02:45 +0100

LONDON — July 12, 2012 — FICO, the leading provider of analytics and decision management technology, today announced that Boubyan Bank will use FICO® Debt Manager™ solution to manage collections for its growing credit portfolios in the region. Based in Kuwait City, Boubyan Bank will use the FICO solution to prioritise overdue accounts and select the most appropriate treatments for each, across the bank’s credit card and personal loan portfolios.

P&A grows Irish operation with appointment of managing partner in Dublin

Mon, 18 Jun 2012 15:22:20 +0100

The P&A Group of Companies, one of the largest independent advisory, insolvency and debt collection firms in the UK, has appointed Jason Sheehy as managing partner to head up its new Ireland office.

APQC benchmarking report reveals how top-performing accounts receivable functions improve cash flow

Wed, 13 Jun 2012 10:23:07 +0100

Atlanta, June 12, 2012 – OB10, the e-Invoicing network, and APQC, the benchmarking and research firm, have collaborated to produce a best-practices-focused white paper: Accounts Receivable Performance: Doing OK is No Longer Good Enough. The paper reveals the hidden costs associated with AR practices and highlights the solutions used by top-performing companies to refine processes and improve performance.

SunGards AvantGard GETPAID 7.6 Solution Achieves SAP Certification as Powered by SAP NetWeaver®

Mon, 11 Jun 2012 15:57:06 +0100

June 11, 2012 — New York, NY- SunGard today announced that its AvantGard GETPAID 7.6 credit and collection risk management solution has achieved SAP certification as powered by the SAP NetWeaver® technology platform. The solution has been tested with the SAP® ERP 6.0 application, eliminating the need for customers to spend time on internal reviews and testing of the integration.

Tessenderlo Group selects SunGards AvantGard for hosted treasury and payments management

Tue, 15 May 2012 15:42:10 +0100

Paris, France – May 15, 2012 - Tessenderlo Group, one of the world’s largest chemical companies with reported revenue of 2.4 billion Euros last year, has selected SunGard’s AvantGard for treasury and payments management. AvantGard will help Tessenderlo improve visibility and management of liquidity and cash with managed bank communications via the SWIFT network. The solutions will be hosted by SunGard.

AIK: 1st quarter 2012 results

Wed, 09 May 2012 12:13:12 +0100

Aktiv Kapital increased profitability in Q1 2012 driven by higher investments and solid collections performance on existing portfolios. The Group is continuing to deliver against key initiatives and achieved revenue growth while reducing operating expenses for the quarter.

CGI upgrades DIRECTV to version 8.2 of CACS® Enterprise

Tue, 01 May 2012 18:03:42 +0100

Fairfax, Virginia, May 1, 2012 - CGI Group Inc., a leading provider of information technology and business process services, today announced DIRECTV’s successful upgrade to CGI’s CACS Enterprise, version 8.2. CACS is a component of CGI Collections360®, a comprehensive managed service for default management. Release 8.2 of CGI’s collections and recovery solution includes dynamic scripting that will guide collectors through the customer interview process, reducing the ...

SunGard study reveals almost half of corps are willing to switch banks for better payments services

Mon, 30 Apr 2012 17:42:45 +0100

April 30, 2012 — New York, NY- SunGard today released the results of a recent Corporate B2B Payments Study: “Consolidated Payables Solutions: What do Corporations Want from their Banking Partners?”. The study captured perspectives from 171 respondents representing a wide cross-section of corporations from multiple industries and ranging in size from under $250 million to over $5 billion in annual revenue. Among the key findings, 45% of those responding t ...

Noble Systems reports record-breaking revenue growth in Europe

Fri, 27 Apr 2012 11:34:05 +0100

Manchester, UK – 27 April, 2012: Noble Systems, a global leader in unified contact centre technology solutions, today announced that 2011 revenue from operations in Europe, the Middle East and Africa (EMEA) grew by more than 59 percent from 2010 totals. The regional gains contributed to a worldwide revenue increase of almost 10 percent from the previous year and reflect income from system sales, support and the introduction of new offerings.

New European Carlton Residential Loan Sale Site

Mon, 23 Apr 2012 10:41:15 +0100

New York, NY – April 23, 2012 - Carlton Chairman Howard L. Michaels announced the launching of a brand new residential loan sale site called “Carlton Residential,” which will provide European financial institutions and investment funds with a vehicle to sell large amounts of performing, sub and non-performing residential real estate loans and actual deeded homes off their balance sheets.

CGI releases latest version of market-leading collections solution, CACS® Enterprise

Tue, 03 Apr 2012 18:05:14 +0100

Fairfax, Virginia, April 3, 2012 - CGI Group Inc., a leading provider of information technology and business process services, released the latest version of its market-leading, end-to-end collections and recovery solution, CACS 8.3. CACS is a component of CGI Collections360®, a comprehensive managed service for default management.

Madix Inc. Selects SunGards AvantGard Receivables

Tue, 03 Apr 2012 15:57:29 +0100

Terrell, Texas – April 3, 2012— Madix Inc., one of the largest store fixture manufacturers in North America, has selected SunGard’s AvantGard Receivables (GETPAID) on a Software-as-a-Service* (SaaS) basis to help automate collections and dispute management, as well as reporting to help reduce exposure to possible bad debt expense and improve dispute resolutions.

Atradius Collections increases customer satisfaction for third year in a row

Tue, 03 Apr 2012 15:42:21 +0100

Amsterdam, Netherlands; 3rd April 2012 - Atradius Collections has released the results of its annual customer satisfaction survey revealing improvements on the results of the previous three years.

Mobile Industry Lost over $58 billion in Revenue in 2011 due to Inadequate Billing Systems

Wed, 28 Mar 2012 13:14:16 +0100

Hampshire, UK - 28th March: A new report from Juniper Research finds that the mobile telecoms industry lost more than $58 billion last year – over 6% of global revenues – due to inadequate FM (Fraud Management) and RA (Revenue Assurance) processes. The report suggests that under a ‘nightmare scenario’ whereby operators fail to implement any remedial measures over the next five years, the scale of losses could rise five-fold by 2016. &nb ...

Winterhill Largo expands with Eastern European expansion

Mon, 26 Mar 2012 17:54:21 +0100

Rapidly growing asset recovery and insolvency support group Winterhill Largo has expanded its international network of offices again with the launch of its fifth overseas office, a joint venture with a leading asset valuation and disposal practice in Romania.

Access Receivables to Enhance Debt Collection & Recovery with SunGards Predictive Metrics

Wed, 21 Mar 2012 13:06:35 +0100

Towson, MD - Access Receivables, an accounts receivable collection agency focused on first and third party collections for educational, insurance, telecom and commercial debt, has selected SunGard’s AvantGard Predictive Metrics for statistical scoring. The solution will help Access Receivables efficiently prioritize bad debt collections in order to help achieve higher rates of debt recovery for their clients and increase liquidations and cost efficiencies.

Credit where credits due

Wed, 14 Mar 2012 16:06:35 +0100

Josef Busuttil, director general of the Malta Association of Credit Management, highlights the value of credit for small and micro-firms.

Account Recovery Agency, H. P. Sears Company, Inc. selects SunGards AvantGard Predictive Metrics

Tue, 13 Mar 2012 13:20:01 +0100

Bakersfield, CA - March 13, 2011— H. P. Sears Company, Inc., an account recovery agency with a focus on medical, government, utilities, financial institutions, retail, and commercial collections, has selected SunGard’s AvantGard Predictive Metrics for statistical modeling to help prioritize collections and increase recovery rates for its clients on medical and credit card debt as well as payday loans.

Apollo - CMC Not to Seek Credit Information

Thu, 08 Mar 2012 09:55:16 +0100

Long Beach, CA - Apollo Enterprise Solutions, Inc., a leading provider of advanced interactive solutions for complex banking transactions, is pleased to announce that it has amicably resolved its lawsuit accusing Collections Marketing Center (CMC) of infringing Apollo’s Patent 7,848,978 entitled “The Enhanced Transaction Resolution Technique” as CMC has committed that its system, unlike Apollo’s, does not seek financial information from credit bureaus for decisionin ...

DNB Bank ASA joins Cabot Credit Management syndicate

Tue, 06 Mar 2012 12:53:16 +0100

The Cabot Credit Management Group, one of the UK’s largest and most profitable debt purchase and management businesses, has further increased its purchasing power with the commitment by DNB Bank ASA of £30 million to the Group’s existing syndicated facility.

MACM legal service for debt collection

Mon, 05 Mar 2012 10:26:33 +0100

The Malta Association of Credit Management (MACM) has appointed a firm of lawyers to assist its members and provide them with legal advice in respect of matters relating to debt-collection, at favourable rates and fees.

Aktiv Kapital announces a significant portfolio acquisition in the United Kingdom

Thu, 01 Mar 2012 11:50:34 +0100

Aktiv Kapital has today signed a contract to acquire a non- performing loan portfolio in the United Kingdom with a face value of GBP 470 million. The portfolio consists of more than 90 000 accounts of unsecured, non-performing consumer loans, with gross collections in the 12 months prior to completion of over GBP 13 million. The debt is originated from a leading global financial Institution.

AIK: 4th quarter 2011 results - Strong collection performance and operating results

Wed, 29 Feb 2012 10:23:25 +0100

Aktiv Kapital improves operations with collections above forecast and reduced operating expenses. The Group is strengthening its' investment capabilities and will continue to streamline and simplify the organisation through 2012.

EBS, Ogones subsidiary in India, wins major ecommerce award

Fri, 24 Feb 2012 13:16:58 +0100

Brussels, February 24, 2012 – EBS, the wholly-owned subsidiary of Ogone, specialists in online payment services, has been awarded the Best eCommerce Payment Innovation Award at the Indian eRetail Show 2012.

EBS REMI and CORESTATE Capita: first findings on Distressed Real Estate Debt research ...

Fri, 24 Feb 2012 12:45:42 +0100

Markets may see an ascending number of distressed real estate debts over the second half of 2012 as a result of increasingly tight capital markets. By 2014, Europe may experience a funding gap of €200 billion. The European market for non- performing loans is estimated at €750 billion and approximately €250 billion in Germany. In addition, non-core debt, defined as credit financing not aligned with a bank’s core competency, stands at €1000 billion in Europe a ...

Contact Centre Survey Reveals Continued Reliance on Outdated WFM Tools

Thu, 23 Feb 2012 16:48:33 +0100

Manchester, UK – February 23, 2012: Noble Systems, a global leader in unified contact centre technology solutions, today announced the results of its latest survey of more than 400 contact centre operations, revealing that almost two-thirds of respondents have yet to adopt a Workforce Management (WFM) software solution to schedule, monitor and report on agent activity.

OB10 offers compliant electronic invoicing in Mexico

Wed, 22 Feb 2012 12:35:57 +0100

To support mandatory electronic invoicing in Mexico, OB10, the e-Invoicing network, now delivers compliant services in Mexico through its partnership with the leading local provider Buzón E.

PEPPOL - Government e-Invoicing project launched today

Wed, 15 Feb 2012 15:07:22 +0100

Minister Hayes announced today that the Irish government has established an e-invoicing pilot within the public sector. The National Multi-Stakeholder Forum on e-Invoicing which is led by the National Procurement Service is establishing the pilot with the objective of proving interoperability between service providers while facilitating the adoption of e-invoicing amongst SME’s.

CMC Appoints Jon Hickman EMEA Sales Director

Mon, 13 Feb 2012 16:47:16 +0100

Collections Marketing Center, Inc. (CMC), the leading provider of comprehensive self-service collections solutions, today announced that Jon Hickman has joined the company as Sales Director for the UK & EMEA operations of CMC.

Readers Offer - Moreton Smith

Mon, 13 Feb 2012 16:32:05 +0100

CCR World is proud to present a Reader’s Offer on International Debt Collection and Outsourcing, supplied by Moreton Smith. To find out more, contact Gary Lucas on 07785 268404 or gary@ccrmagazine.co.uk.

Tieto divests its UK based financial services product business

Mon, 13 Feb 2012 12:29:25 +0100

Tieto Corporation has agreed to sell its financial services products business based in the UK to Sopra Group, a leading global technical consulting company, based in Paris, France. The unit provides various mortgages, savings, credit and debt collections systems to organizations including banks, lenders and collection agencies in the UK. This business currently employs approximately 160 people.

LCH.Clearnet Group Limited Results 2011

Fri, 10 Feb 2012 09:41:40 +0100

LCH.Clearnet Group Limited (LCH.Clearnet) today announces its results for the year ended 31 December 2011.

Winterhill Largo Expands with Dubai Office Opening

Thu, 02 Feb 2012 16:10:52 +0100

Asset recovery and insolvency support group Winterhill Largo has expanded its international network with the opening of an office in Dubai.

Fagri Semaar joins Teleperformance as new MD of South Africa

Fri, 27 Jan 2012 16:35:28 +0100

Teleperformance is delighted to announce the appointment of Fagri Semaar as its new Managing Director for South Africa.

First Atlantic Commerce announces new Senior Vice President

Thu, 19 Jan 2012 16:24:25 +0100

HAMILTON BERMUDA — First Atlantic Commerce (FAC), a global, online payment solutions provider, today announced the appointment of Tricia Lines Hill to the position of Senior Vice President, Business Development and Marketing, effective January 1, 2012.

Atradius believes Eurozone breakup unlikely

Wed, 18 Jan 2012 16:17:23 +0100

Cardiff – In its latest economic report, ‘Sticking together – The future of the Eurozone’, international credit insurer Atradius warns that the consequences of a breakup of the Eurozone would be highly damaging for a country that leaves the euro as well for those that remain within the currency union.

Experian and American Express announce international payment partnership

Thu, 12 Jan 2012 11:24:02 +0100

Experian, the global information services company, and American Express, today announced a partnership to offer international payment processing and foreign exchange services to Experian’s UK clients. The deal will make it easier and cheaper for businesses of all sizes to make and process overseas payments online.

Student Loans Seen as Next Casualty of Sluggish Economy, FICO Quarterly Survey Finds

Thu, 12 Jan 2012 10:58:20 +0100

MINNEAPOLIS—January 12, 2012—FICO’s quarterly survey of bank risk professionals found growing concern for the stability of the student loan market and deepening fears about the nation’s housing sector. The survey, conducted for FICO by the Professional Risk Managers’ International Association (PRMIA), shows that bankers expect delinquencies on most types of consumer loans to rise, balances on credit cards to grow, and global economic forces to put increasing ...

LCH.Clearnet appoints Lisa Rosen as Group Head of Compliance and Public Affairs

Thu, 05 Jan 2012 10:54:20 +0100

LCH.Clearnet Group Ltd (LCH.Clearnet) has appointed Lisa Rosen as Group Head of Compliance and Public Affairs. Previously, Lisa was Managing Director, Global Head of Regulatory Affairs at Barclays Capital in London.

E-invoicing service provider association committed to raising the profile of e-invoicing in Europe

Thu, 22 Dec 2011 10:42:52 +0100

Brussels - Members of the newly formed European E-invoicing Service Providers Association (EESPA) held their first annual general meeting on 13 December and committed the Association to raising the profile of electronic invoicing throughout Europe. EESPA is a trade association for the fast-moving e-Invoicing industry and acts as a platform for industry cooperation on non-competitive issues.

CCI Legal Announces New Portuguese Office

Fri, 09 Dec 2011 13:35:49 +0100

CCI legal Services Ltd have specialised in providing collection services to UK public and private sector clients for over 25 years. Over that time we have gone from strength to strength and are now one of the largest employers in mid Wales.

CBV Collection Services Acquires Primary Financial Services

Mon, 05 Dec 2011 16:50:33 +0100

WASHINGTON, DC – Greenberg Advisors, LLC (“Greenberg”) announced today that CBV Collection Services Ltd. (“CBV”) has acquired Primary Financial Services, LLC (“Primary”), a leading provider of third-party Accounts Receivable Management (ARM) services for major financial institutions. Greenberg advised CBV regarding strategy development, and in negotiating and executing the transaction.

New Software Enhances Speed of International Collections

Thu, 01 Dec 2011 12:28:07 +0100

Euler Hermes Collections UK, a company of Allianz, has launched a new software platform that will considerably enhance the speed and efficiency of its current UK and international debt collections service.

CGI signs multi-million dollar managed collections agreement with World Omni Financial Corp.

Tue, 29 Nov 2011 15:11:45 +0100

Fairfax, Virginia - CGI Group Inc. (CGI), a leading provider of information technology and business process services, today announced that it has signed a seven-year, multi-million dollar contract with World Omni Financial Corp. (World Omni) to implement its comprehensive collections and recovery managed service, CGI Collections360™. World Omni is a diversified automotive financial services company.

VocaLink and Fundtech partner to assist in the global move to Immediate Payments

Wed, 23 Nov 2011 12:26:07 +0100

London, 23 November 2011: VocaLink, the international payments provider, and Fundtech, a market leader in global transaction banking solutions, have signed a global partnership to offer Immediate Payments. The collaboration means that banks can provide their customers with an end-to-end, inter-bank, real-time payments service that delivers greater convenience and control. The solution is designed to cater for low-value payments and is available through multi-channel service option ...

VocaLink and Clear2Pay team up to facilitate the move to global Immediate Payments

Wed, 23 Nov 2011 12:20:55 +0100

London, 23 November 2011: VocaLink, the international payments provider, and Clear2Pay, the international technology provider of next generation payment solutions, are teaming up to bring the industry one step closer to achieving global Immediate Payments. The partnership enables banks to provide their customers with an end-to-end, inter-bank, real-time payments service, with the inclusion of multi-channel service options such as mobile.

Leonard Curtis appointed Administrators to London restaurant chain - Café & Tapas

Mon, 31 Oct 2011 12:58:08 +0100

Insolvency specialists at Leonard Curtis Business Solutions Group have been appointed Administrators of London restaurant chain Café & Tapas.

Marston introduces new learner response system

Mon, 31 Oct 2011 12:20:03 +0100

Marston Group (Marston) is pleased to have launched a revolutionary new learner response system within its City and Guilds training course, enhancing the way in which employees are trained.

AIK Q3'11: Efficient operations, well positioned for growth

Fri, 28 Oct 2011 12:31:21 +0100

Oslo - Aktiv Kapital reports operating revenues of NOK 219.8 million and operating profit of NOK 94.6 million in the third quarter of 2011, compared to operating revenue of NOK 234.6 million and operating profit of NOK 101.0 million in third quarter 2010. The decrease is primarily related to few acquisitions of portfolios. "The results for the third quarter demonstrate how Aktiv Kapital is operating efficiently and adjusts costs to revenue. The Group will continue to streamline the ...

Four new countries added to the latest edition of Atradius Collections International Handbook

Tue, 18 Oct 2011 21:12:37 +0100

Cardiff UK - Atradius Collections, the global expert in domestic and international debt collections, releases an updated and expanded version of the International Debt Collections Handbook which today covers 31 countries. For a first it includes the Slovak Republic, Romania, Sweden and Tunisia and can be downloaded for free on www.atradiuscollections.com.

Noble Systems Acquires Global WFM Software Leader

Thu, 13 Oct 2011 14:47:36 +0100

Manchester, UK – Noble Systems Corporation, a global leader in unified contact centre technology solutions, today announced the acquisition of Melbourne, Australia-based Open Wave, a Workforce Management (WFM) software and solutions specialist with a significant workforce and technology footprint at its EMEA headquarters in London. The transaction includes all assets and intellectual property including Open Wave’s award-winning, functionally-rich ShiftTrack WFM solution. ...

Noble Systems recognised as a North American contact centre market leader in latest industry report

Thu, 29 Sep 2011 21:30:24 +0100

Manchester, UK – Noble Systems Corporation, a global leader in unified contact centre technology solutions, saw clear gains in industry analysis firm Frost & Sullivan’s latest comprehensive survey of the North American contact centre market. According to the independently-researched data, Noble Systems now holds the second-largest share of outbound dialler systems revenue and is among the top 10 firms in overall market share by combined product revenues.

SWIFTReady accreditation for Tieto's payment solution

Mon, 19 Sep 2011 23:36:00 +0100

Tieto has received the SWIFTReady Payments 2011 label for its payment solution that is a part of Tieto's Transaction Banking services. These services support banks' and their corporate and personal customers' payments around the world. Tieto's payment solution has been certified as SWIFTReady for over 10 consecutive years.

AIK: New Chief Executive Officer

Fri, 09 Sep 2011 17:11:12 +0100

OSLO - The Board of Directors of Aktiv Kapital ASA has appointed Geir Langfeldt Olsen (38) as new CEO of the company effective 19 September 2011.

First Atlantic Commerce announces new CEO, COO and staff promotions

Wed, 31 Aug 2011 18:30:59 +0100

Hamilton, Bermuda. August 31, 2011— First Atlantic Commerce (FAC), a global, online payment solutions provider, today announced the appointment of Christopher Burns to the position of Chief Executive Officer and Ronnie Viera to Chief Operating Officer.

Aspect Leads Outbound Dialler Systems Market in North America

Tue, 30 Aug 2011 16:45:37 +0100

CHELMSFORD, Massachusetts - Aspect, a leading provider of customer contact and Microsoft platform solutions, today announced it has received the Market Share Leadership Award for the highest ranking in the North American Outbound Dialler systems market by Frost & Sullivan. Aspect has gained share of 3.8 percent rising to 21.7 percent total share in a tough market, ahead of Avaya, who dropped to third place. Aspect is one of the few companies that displayed growth in the outboun ...

Tieto receives SWIFTReady Connectivity - Best practice label

Tue, 30 Aug 2011 12:40:27 +0100

Tieto's service for the financial and corporate market has received the SWIFTReady Connectivity best practice label from the global messaging cooperative SWIFT. The awarded Tieto SWIFT Service Bureau is part of the company's financial value chain services that manages close to one billion transactions a year. Providers with the highest operational standards in availability, security, access control and resiliency are awarded with the label.

Apollo introduces first total self-service system for account management for financial enterprises

Fri, 19 Aug 2011 15:34:40 +0100

Apollo Enterprise Solutions, Inc. (“Apollo”) has launched Release 2.0 of its TRUEContactTM product, a key module in its TRUETM system.

AIK: 2nd quarter 2011 results

Thu, 18 Aug 2011 16:39:52 +0100

Oslo - Aktiv Kapital reports an operating profit of NOK 105.3 million in the second quarter 2011, 14% above the corresponding quarter last year. The increase is mainly due to operational improvements initiated in 2010. "Aktiv Kapital has an efficient operation and is capable of achieving revenue growth with its current cost base. With future portfolio acquisitions, our margins will move higher", says acting CEO Scott Danielsen.

Tieto and Danske Bank Group to collaborate and serve corporate customers with SWIFT services

Tue, 09 Aug 2011 18:42:23 +0100

Danske Bank Group is among the first Nordic banks to be connected to Tieto Payment Factory via SWIFT. Danske Bank Group's corporate customers can now reach all their global banking partners through one single channel more easily and cost efficiently - Tieto Payment Factory service with SWIFT Service Bureau. Additionally, the collaboration allows Danske Banks' and Tieto's joint customers to benefit from ISO20022/XML-based fully automated payment and account reporting services.

Debts up by ten times

Thu, 28 Jul 2011 14:52:36 +0100

The value of consumer debts registered against Irish consumers in the first half of 2011 was more than ten times that faced during the same period five years ago.

Leading Lawyers Form Partner Advisory Board to Help Legal Profession Grow

Wed, 20 Jul 2011 17:54:03 +0100

New York, July 20, 2011 - Some of the world's leading legal minds have joined forces to help their profession find more effective ways to serve their clients and win new business. The impact of constantly changing legislation and regulation, and how it affects the work of leading lawyers and corporate legal teams, is the key focus of a new high-level think tank established by Thomson Reuters Governance, Risk and Compliance.

Apollo Enterprise Solutions enters Australia

Tue, 19 Jul 2011 18:43:45 +0100

Long Beach, CA, July 18, 2011 – Apollo Enterprise Solutions, Inc. (“Apollo”), a leading provider of advanced interactive solutions for complex financial transactions, announces the opening of its new office in Sydney, Australia.

Apollo to sponsor future of mobile banking conference

Thu, 16 Jun 2011 23:39:22 +0100

Long Beach, CA, June 16, 2011 – Apollo Enterprise Solutions, Inc. (“Apollo”), a leading provider of advanced interactive solutions for complex banking transactions, will be a key sponsor of Marketforce’s “Future of Mobile Banking” conference to be held at the Hilton Tower Bridge in London on June 21, 2011.

EuroDebt welcomes OFT consultation on debt management guidance

Thu, 16 Jun 2011 15:37:43 +0100

The UK's leading provider of face to face debt solution services, and founding member of the APDSI (Association of Professional Debt Solution Intermediaries), EuroDebt Financial Services, has welcomed the publication this week of the OFT's revised guidance for the debt management industry, for consultation.

Tieto's pocket bank makes mobile consumers' everyday life easier

Mon, 23 May 2011 21:39:47 +0100

Tieto's new solution enables banks to provide advanced online services through smartphones. The pocket bank brings customized bank services to consumer's handsets. The interface to the user's e-bank solution is always reachable: One touch on the phone shows the bank customers' personalized view. The new mobile banking solution is based on a joint Mobile Finance Services (MOFS) research program of Tieto, Nokia and Aalto University.

The Business Software Centre offers SMEs software-as-a-service Direct Debit technology

Wed, 18 May 2011 00:43:00 +0100

Albany Software, the pioneering developer of electronic payment solutions, has signed The Business Software Centre to its growing network of referrer partners to meet demand from SMEs to rent Direct Debit (DD) collection functionality as a hosted service. The Business Software Centre will be offering Albany’s eCOLLECT solution – a fully auditable and secure Direct Debit collection facility.

AIK: 1st quarter 2011 results

Tue, 10 May 2011 16:21:17 +0100

(Oslo, 10 May 2011) Aktiv Kapital reports an operating profit of NOK 102.9 million in Q1 2011, up from NOK 99.8 million in the same period 2010. The improved operating profit is attributable to the operational improvements executed in 2010 and better economic conditions in some countries.

PCA Add US and Canadian Events to its Successful International Probate Creditor Roundtable Series

Mon, 09 May 2011 11:15:00 +0100

Phillips & Cohen Associates, Ltd. (PCA) will conduct as many as four more creditor industry roundtables in America and Canada, and possibly Australia and the UK following the success of the company’s inaugural event in the United Kingdom.

Collections Marketing Center Appoints Joel Rickman as Vice President Sales and Marketing

Thu, 05 May 2011 18:00:44 +0100

WILMINGTON, Del. --- Collections Marketing Center Inc. (CMC), the leading provider of comprehensive self-service collections solutions, today announced that Joel Rickman has joined the company to serve as the vice president of sales and marketing. He will direct the company's sales and marketing efforts in support of CMC's growth objectives.

Apollo, Bridgeforce CMC resolve trade secrets, fraud, breach of contract,false advertising disputes

Thu, 21 Apr 2011 11:58:34 +0100

Long Beach, CA, - Apollo Enterprise Solutions, Inc. (“Apollo”), Bridgeforce Inc. (“Bridgeforce”), and Collections Marketing Center, Inc. (“CMC”) are pleased to announce that all claims and counterclaims have been dismissed in the lawsuits currently pending in California and Delaware state courts alleging trade secret misappropriation, fraud, and breach of contract on the part of CMC, Bridgeforce and certain of their principals.

Apollo Enterprise Solutions, Inc. names Gregory Halligan as vice president of sales

Wed, 13 Apr 2011 10:51:13 +0100

Long Beach, CA – Apollo Enterprise Solutions, Inc. (“Apollo”), a leading provider of advanced solutions for improving operational efficiencies, outcomes, and customer experiences for banks, lenders, and other financial products marketers, announced today that Gregory Halligan has joined the Company as Vice President of Sales.

Samsung & Visa, two worldwide Olympic sponsors, join forces to enable mobile payments

Thu, 31 Mar 2011 16:11:12 +0100

Samsung and Visa today announced plans to bring the latest innovation in payment technology to the market as part of their sponsorships of London 2012, enabling consumers to make mobile payments using the Samsung Olympic and Paralympic Games mobile handset. Before and during the Games, the innovation will transform the payment experience in London and globally, enabling faster, more convenient payments via mobile phone.

Atradius issues an expanded International Debt Collections Handbook covering China and Hong Kong

Tue, 29 Mar 2011 18:44:54 +0100

Amsterdam, Netherlands; 29 March, 2011 – In a first, the International Debt Collections Handbook includes dedicated reports on China and Hong Kong. The fourth edition has been released today by Atradius Collections.

Managing Credit in Todays Business Environment

Fri, 25 Mar 2011 16:07:20 +0100

The MACM 10th Anniversary Conference is to be held on Thursday, 12th May 2011 at Radisson Blu Resort, St Julian’s, Malta.

SMEs reluctant to export amid late payment fears

Tue, 22 Mar 2011 18:48:16 +0100

UK SMEs are failing to capitalise on the weakness of the pound to export their goods and services, due to concerns over how late payments from overseas partners could impact their cash flow, according to Lloyds TSB Commercial Finance.

OnGuard scoops Most Innovative ICT Company award at 2011 TIM Awards

Thu, 17 Mar 2011 17:16:47 +0100

Credit, collections and complaints software specialist, OnGuard, is delighted to announce that it has received the accolade of ‘Most Innovative Company’ at the 2011 TIM Awards.

Aspect Recognised by Frost & Sullivan as Outbound Contact Market Leader

Thu, 10 Mar 2011 15:40:53 +0100

Aspect, a leading provider of customer contact and Microsoft platform solutions, today announced that it has been named the Global Market Share Leader for the outbound dialler systems market by Frost & Sullivan based on product revenue in 2009. Frost values the global outbound dialler systems market at $250 million, based on product revenue, and attributes 22.3 percent of that revenue to Aspect.

Erik Oyno withdraws from CEO position in Aktiv Kapital

Thu, 03 Mar 2011 15:27:22 +0100

Oslo, 3 March 2011 - Erik Oyno has informed, and the Board accepted, that he wishes to step down as the CEO of Aktiv Kapital. Erik will continue to manage the company until the Annual General Meeting March 30.

Apollo files patent infringement claims against CMC and Bridgeforce, Inc.

Thu, 03 Mar 2011 15:21:14 +0100

Long Beach, CA – Apollo Enterprise Solutions, Inc, (“Apollo”), a leading provider of advanced solutions for improving operational efficiencies, outcomes, and customer experiences for banks, lenders, and other credit products marketers, has announced that it has filed a patent infringement claim against Collections Marketing Center, Inc. (“CMC”), alleging that CMC infringes a patent owned by Apollo in connection with CMC’s FlexCollect offering. ...

South African Consumers to benefit from High Court ruling

Tue, 01 Mar 2011 18:21:11 +0100

Proactive consumers who become over indebted are likely to benefit from a recent High Court ruling in South Africa, that if a debt counsellor has applied to the magistrates’ court to restructure debt due to the consumer being over indebted, then the agreement cannot be cancelled.

International Debt Collections Handbook reveals country differences in statute of limitations

Tue, 01 Mar 2011 17:49:15 +0100

Amsterdam - The International Debt Collections Handbook which will be released by Atradius Collections in its fourth edition next month reveals the enormous differences in debt expiring in based on statute of limitations.

Aktiv Kapital (NO) - AIK: 4th quarter 2010 results

Wed, 23 Feb 2011 17:08:55 +0100

OSLO - Aktiv Kapital continues to show an improvement in results and reports an operating profit of NOK 103.1 million in Q4 2010, up from NOK 47.3 million in the same period 2009. The Board proposes a dividend of NOK 20 per share, which represents a direct return of 40 per cent based on the closing rate on 22 February.

Presentation of Aktiv Kapital's fourth quarter results 2010

Thu, 17 Feb 2011 17:56:45 +0100

Aktiv Kapital's Q4 2010 results will be presented on Wednesday 23rd February 2011 at 09.00 CET.

Tieto partners with Ubisecure to boost building of secure business networks

Mon, 14 Feb 2011 10:06:37 +0100

Tieto and Ubisecure partnership provides companies with new user friendly and secure web services that stretch across organizational boundaries. The collaboration focuses primarily on projects in the financial services industry in Northern Europe and combines Tieto's and Ubisecure's expertise to boost convenience as well as security in the modern networked economy.

Businesses hit by cross-border debt

Thu, 10 Feb 2011 17:08:43 +0100

Leading credit management and collection company Daniels Silverman has seen a 600% increase in the value of cross-border debt enquiries as companies experience problems chasing late payments abroad.

Tieto offers new concept to modernize customer service in the banking sector

Mon, 07 Feb 2011 08:45:03 +0100

Tieto has launched a new complete solution that will enable banks and other financial institutions to develop all their online and traditional service operations into one streamlined consumer experience. The new concept will respond to the topical consumer need: managing their economy easily at any time of the day and getting advice on their financial decisions. With Tieto, financial companies can now build a sustainable competitive advantage by transforming separate, transaction-orienta ...

OnGuard starts 2011 with multiple new appointments

Wed, 19 Jan 2011 18:42:40 +0100

London & Nederhorst den Berg - December and January saw the appointment of ten new additions to OnGuard. The considerable growth in interest in credit management software and services prompted the need to reinforce the team with new highly qualified professionals. As a leading Credit Management Software developer, OnGuard is an attractive choice for those wishing to progress.

Apollo expands product suite with the TRUEcommand Cockpit Command and Control System

Wed, 19 Jan 2011 18:16:04 +0100

Long Beach, CA – Apollo Enterprise Solutions, Inc, (“Apollo”), a leading provider of advanced solutions for improving operational efficiencies, outcomes, and customer experiences for banks, lenders, and other credit products marketers, launches its newest TRUE module, the TRUECommand Cockpit Command and Control System.

Apollo issued additional United States patent for its TRUEcollect system

Wed, 19 Jan 2011 17:42:43 +0100

Long Beach, CA – Apollo Enterprise Solutions, Inc, (“Apollo”), a leading provider of advanced solutions for improving operational efficiencies, outcomes, and customer experiences for banks, lenders, and other credit products marketers, announced today that it has been issued an additional patent by the United States Patents & Trademarks Office using a rules-based decision engine to process a user’s financial status data and then present an offer set distinctiv ...

Gothia Financial Group acquires the British company BCW Group

Tue, 04 Jan 2011 18:23:07 +0100

Gothia Financial Group has acquired BCW Group, a leading provider of credit management and debt recovery services. The company has around 400 employees in the UK and Ireland, and offices in Glasgow, Stratford-upon-Avon, Manchester, Leeds and Dublin. Gothia Financial Group has operations in seven countries, and together with Gothia’s existing business in the UK, the combined operations will become the leading player in the UK and Ireland within credit management and debt recovery fo ...

SEPA end-date has been announced - what now?

Fri, 17 Dec 2010 09:51:43 +0100

It has been a long time coming but the end-date for legacy payment systems has finally been announced. While rumours had it for some time that the end-date would be set for 2012, Stephen Hawkes, Product Manager at Experian Payments, discusses how the decision by the European Commission will help create certainty and stability across the SEPA region, giving both banks and corporates a timeline to work with.

FICO Debt Manager Live Puts Small and Midsize Lender on Fast Track to Better Collections Performance

Sun, 12 Dec 2010 19:02:13 +0100

MINNEAPOLIS - FICO, the leading provider of analytics and decision management technology, have announced the general availability of a streamlined collections solution designed for faster deployment. The solution, known as FICO® Debt Manager™ Live, offers lenders and collections agencies the fastest path to adopting the powerful collections automation technology, workflow and best practices they need to deal with high levels of delinquency and to improve efficiency. Collectors ...

Settlement on Visa debit interchange fees aids SEPA

Wed, 08 Dec 2010 19:06:28 +0100

Brussels, 8th December, 2010 - Visa Europe welcomes the European Commission’s agreement today that, following the public consultation it has conducted, it will now accept the commitments from Visa Europe on its multilateral interchange fees (MIFs) for intra-regional immediate debit transactions in the EEA. Visa Europe also welcomes the European Commission’s agreement to end proceedings on its immediate debit interchange fees.

Aspect Expands European Operations into Ireland

Fri, 03 Dec 2010 15:15:43 +0100

CHELMSFORD, Massachusetts - Aspect, a global provider of unified communications and collaboration services and software, today announced it is opening two new facilities in Galway, Ireland in December. The new Aspect facilities will provide customer technical support, software production and distribution, and serve as a shared services centre for select administrative functions.

Aktiv Kapital signs a major deal in Spain

Thu, 25 Nov 2010 16:30:48 +0100

Aktiv Kapital has today signed a contract with an international financial institution acquiring a non- and semi-performing portfolio in Spain with a face value in excess of € 350 million. The portfolio consists of approx. 70 000 accounts. The purchase represents the single largest investment in Aktiv Kapital since 2008.

Aspect Contact Centre Solutions Will Help Companies Take Full Advantage of Microsoft Lync Capabity

Thu, 18 Nov 2010 18:56:56 +0100

CHELMSFORD, Massachusetts, 17 November 2010 - Aspect, a global provider of unified communications and collaboration services and software, today announced it is integrating its market leading Aspect(r) Unified IP(r) contact centre platform with Microsoft Lync Server 2010 capabilities. Aspect Unified IP, with Microsoft Lync will offer key unified communications (UC) capabilities, including enhanced expert search functionality and increased collaboration for agents within the contact centre ...

Lovetts launches debt recovery services for EU and USA with 6 new websites

Thu, 11 Nov 2010 15:41:56 +0100

Lovetts Plc, one of the UK’s leading commercial debt recovery law firms is expanding its debt recovery services for overseas customers with the launch of 6 new multi-lingual websites for businesses operating in the US, Norway, Holland, Germany, France and Southern Ireland.

EU Directive to combat Late Payment in Commercial Transactions

Thu, 11 Nov 2010 15:35:32 +0100

As reported in The Malta Business Weekly, the European Union voted on 20 October in favour of a new Directive to combat late payment in commercial transactions within the EU market. This Directive will replace the existing Directive 2000/35/EC.

Aktiv Kapital divests non-core business

Wed, 03 Nov 2010 12:14:33 +0100

As part of the company's strategy, Aktiv Kapital has entered into an agreement with Intrum Justitia AB to sell its Nordic third party debt collection business with 150 employees. The enterprise value of the transaction is NOK 375 million; the net gain from the transaction will be in excess of NOK 350 million. The transaction is expected to be closed by year end pending regulatory approval in Norway.

Aktiv Kapital Q3 2010: operating profit up 13% on efficiency measures

Fri, 29 Oct 2010 13:08:49 +0100

(OSLO, October 28, 2010) Aktiv Kapital reports third quarter 2010 portfolio collection of NOK 381.7 million, compared with NOK 446.7 million in the third quarter of 2009. The decrease is mainly due to lower level of portfolio acquisitions in recent quarters. Operating profit was NOK 114.1 million, compared with NOK 100.9 million last year.

Fred Bär appointed as President of EACHA

Wed, 27 Oct 2010 10:04:45 +0100

AMSTERDAM - Following a plenary meeting on 13 October 2010, The European Automated Clearing House Association (EACHA) has elected a new Board. Fred Bär (VocaLink) has been appointed as President. Other members include Harald Stern (Equens), Jose Luis Langa (Iberpay), Corrado Borsatti (ICBPI) and Jean-Pic Berry (STET).

ABN AMRO and Equens renew transaction processing agreement

Wed, 27 Oct 2010 09:57:22 +0100

AMSTERDAM, 26 October 2010 – This afternoon, ABN AMRO Bank NV and Equens SE signed a long-term contract for transaction processing. In doing so, ABN AMRO Bank has renewed its existing contract with Equens until 2015. The contract encompasses EMV-debit card issuing to ABN AMRO’s cardholders, and handling of its domestic giro transactions, European transfers (SEPA Credit Transfer) and European direct debits (SEPA Direct Debit).

Equens and SECB extend agreement on interoperability to SDD

Wed, 27 Oct 2010 09:50:04 +0100

UTRECHT - SECB Swiss Euro Clearing Bank GmbH and Equens SE have signed an agreement on the implementation of a bilateral link for the exchange of SEPA Direct Debit (SDD). The arrangement supports both companies' SEPA offerings while helping to create a more competitive market by allowing banks to choose the processor that best meets their needs. It is the intention to go-live with SDD in 2011. Last year SECB and Equens already reached an agreement on the processing of SEPA Credit Tra ...

Tieto launches total transaction banking delivery solution

Mon, 25 Oct 2010 14:25:59 +0100

Tieto, a leading IT services company in Northern Europe, has launched a total transaction banking delivery solution during Sibos 2010 event in Amsterdam. The solution supports every part of a bank's transaction business and is targeted at both major international banks as well as smaller finance firms.

P&A tackle Irish late payment problems

Thu, 21 Oct 2010 19:05:02 +0100

P&A Receivable Services Plc is predicting that more European manufacturers of homeware goods will turn to its Irish debt recovery service amid fears that Ireland’s financial woes will leave them out of pocket.

EU Mandatory Payment Terms Welcomed By Businesses, Says Atradius Study

Thu, 21 Oct 2010 00:00:01 +0100

(Cardiff, 20 October 2010) - As the European Parliament votes today to pass legislation on mandatory payment terms across the EU, leading trade credit insurer Atradius publishes a survey of almost 4000 businesses and their feelings on mandatory terms coming into effect. British businesses were amongst the keenest, with 61% welcoming the move, second only to Spain at 64%. The survey sought opinions from Europe, North America and Asia on the impact of fixed payment terms of 30 to 60 days on ...

Bad debts owed to British companies have almost doubled

Wed, 08 Sep 2010 18:38:04 +0100

The level of bad debts owed to British companies has almost doubled within a year. The 2009 level was just 1.4%, but a year later the proportion is 2.7%. The credit crunch is most evident in private customer business, where the proportion of bad debts is 3.2%.

EOS Consolidated remains on growth course

Wed, 01 Sep 2010 17:40:15 +0100

HAMBURG – Despite the international financial and economic crisis, in 2009/10 EOS Consolidated achieved a result slightly higher than the previous year’s figure: earnings before taxes (EBT) amounted to EUR 61.6 million in the financial year 2009/10 – compared with EUR 61.1 million in 2008/09.

EOS Consolidated receives A rating

Tue, 31 Aug 2010 17:37:47 +0100

HAMBURG – For the sixth time in succession, Euler Hermes Rating GmbH has rated EOS Consolidated with an ‘A’. This means that the agency regards EOS’ credit standing as well above the average that prevails in the economy as a whole.

Free advice for UK businesses on debt recovery in foreign countries

Tue, 31 Aug 2010 17:07:05 +0100

Cardiff, August 31, 2010 - Atradius Collections, the global expert in domestic and international debt collections, releases the latest edition of the International Debt Collections Handbook. The International Debt Collections Handbook is an essential tool for export-oriented UK businesses making decisions around debt recovery in foreign countries. In total the handbook covers 26 countries and covers the different stages of amicable settlement, financial regulations around collections, legal proc ...

Vendor and distributor credit managers will focus on future challenges and opportunities

Thu, 26 Aug 2010 20:54:58 +0100

P&A Receivables, the leading credit management and debt recovery service provider to the IT industry, is expecting ‘a lively and frank exchange’ of opinions at its forthcoming European Credit Forum (ECF) for senior credit managers from IT vendors and distributors, which takes place in Dublin on Thursday 16th and Friday 17th September.

Inland Capital Services Selects Ontario Systems Collect SAVVY

Tue, 24 Aug 2010 18:32:54 +0100

(MUNCIE, IND) – Ontario Systems, LLC, a leading provider of accounts receivable and revenue-cycle recovery solutions for the collection and health care industries, announces that Inland Capital Services, one of the premier debt collection agencies in the U.S., is now live on Ontario’s Collect SAVVY software. Leveraging Collect SAVVY in Ontario Systems’ Software-as-a-Service (SaaS) environment, Inland Capital Services will use Collect SAVVY to improve collections and provide int ...

Ontario Systems Company Announcement

Tue, 10 Aug 2010 17:40:50 +0100

Ontario Systems, LLC, a leading provider of accounts receivable and revenue-cycle recovery solutions for the collection and health care industries, announces Ryan Childers, Senior Manager of Professional Services, has been selected as co-chair of the Professional Services Champions program for the Technology Services Industry Association (TSIA), the technology services industry's largest and most vibrant association.

OnGuard Announces North American Client Win, World Shipping Inc.

Mon, 09 Aug 2010 19:21:06 +0100

New York, NY August 09, 2010 – OnGuard USA Inc., provider of credit management solutions, today announced that World Shipping Inc. has selected OnGuard’s flagship credit management platform, OnGuard ICMS. The product will help World Shipping integrate, enhance and streamline its credit management processes.

Direct Legal & Collections sustains investment in training

Tue, 13 Jul 2010 10:10:54 +0100

Leading collections solutions provider, Direct Legal & Collections (dlc) is continuing to invest in the development and training of its staff, as six more team members gained their City & Guilds Accredited CSA Diploma earlier this month.

Ten-day public sector payment not being passed along supply chain, says business group

Tue, 13 Jul 2010 09:59:17 +0100

A public sector initiative to pay invoices within 10 days is not being passed on by main contractors to smaller suppliers, the Forum of Private Business (FPB) has discovered.

OFT imposes requirements to end misleading claims

Tue, 13 Jul 2010 09:50:04 +0100

The OFT has imposed requirements on a debt management company, Carefree Group Ltd, in respect of its advertising of debt management services. The requirements also apply to an associated licensee, trading as Carefree Debt Solutions, and cover all types of advertising, including websites.

OnGuard Integrates Customer Scoring as Standard Feature in Response to North American Client Demand

Tue, 15 Jun 2010 09:45:39 +0100

OnGuard, provider of credit management solutions, has seen an upsurge in North American client interest following the National Association of Credit Management’s (NACM) 2010 Credit Congress. In response to market demand it has added enhanced customer scoring technology to its core platform as a standard feature.

Outsourced Debt Collections Industry Maintains Strong Profile and Effectiveness

Mon, 14 Jun 2010 15:42:00 +0100

CARDIFF – The latest “Global Collections Review” survey undertaken by leading credit management and collections specialist Atradius Collections, assessed the current commercial debt collection trends and practices of more than 1,700 companies in nine European countries including Great Britain.

SMEs face global late payment issue when trading overseas

Mon, 07 Jun 2010 16:33:33 +0100

As companies take advantage of the current weakness of the Pound and increase their exporting arms, many business owners and managers are encountering frustrating international payment practices, according to specialist business finance provider Bibby Financial Services.

ABC-Amega joins with Predictive Metrics to launch Net30Score for Its Credit Groups

Tue, 25 May 2010 16:52:45 +0100

BUFFALO, NY – ABC-Amega, Inc., a global leader in the commercial collection, credit information, and receivables outsourcing markets, has partnered with PredictiveMetrics℠ Inc. (PMI), a leading provider of statistical scoring solutions for the B2B market, to provide ABC-Amega’s credit group members with an industry-relevant, statistically based payment scoring analysis and reporting on their customers.

MACM Celebrates its 10th Anniversary A thank you from the director general

Wed, 12 May 2010 17:20:00 +0100

Josef Busuttil, Director General of the Malta Association of Credit Management (MACM), has sent a thank you message to association members on its 10th Anniversary.

European written off debt reaches 300 billion equivalent to the national debt of Greece

Mon, 10 May 2010 17:53:26 +0100

STOCKHOLM/BRUSSELS - Research to be released tomorrow in Brussels by leading credit management services company Intrum Justitia is set to show that European written off debt – monies owed to a business in the region but never paid – has reached the record level of €300 billion – a figure equal to Greece's national debt. This is an 8% rise on the levels recorded in 2009.

EOS Group acquires True North AR in the U.S.

Wed, 05 May 2010 19:27:53 +0100

HAMBURG – As of 30 April 2010, the international EOS Group, an Otto Group company, acquired 100 per cent of the stakes in the U.S.-American company True North AR, LLC. Established in 1968, True North provides healthcare revenue cycle solutions and debt collection services to county and municipal courts, government and other businesses.

Digital Voice Recording and integration of IPPBX with DialIntelligence

Tue, 04 May 2010 18:12:52 +0100

DialConnection, LLC, an international leader in providing the All-Inclusive DialIntelligence Contact Center Solution, has been providing their call recording suite for almost a decade and now provides client’s the ability to integrate their IP-PBX so all calls can be recorded, stored and dynamically retrieved in one compliant solution.

Bailiffs fight listless parents with cross

Tue, 04 May 2010 09:29:33 +0100

Bailiff's in the central Russian republic of Bashkortostan are using Orthodox priests in an unorthodox way of making absent fathers and mothers pay child support.

Aktiv Kapital- 1st quarter 2010 results

Thu, 29 Apr 2010 09:36:58 +0100

Oslo - Aktiv Kapital reports first quarter 2010 portfolio collection of NOK 371.9 million, compared with NOK 491.2 million in the first quarter 2009. As a consequence of few portfolio acquisitions, this decrease is in line with expectations. Operating profit was NOK 104.3 million for the quarter, compared with NOK 123.1 million the same period last year. Moving forward, Aktiv Kapital will continue to focus on operational improvements and seek attractive portfolio acquisition opportunities. ...

Insolvency Service cracks down on bankrupts who try to conceal assets

Tue, 30 Mar 2010 11:23:06 +0100

Debtors who believe they can go bankrupt yet hide some of their assets from the Official Receiver have been told to think again by The Insolvency Service.

Apex Credit Management expands to Kent

Tue, 30 Mar 2010 11:17:41 +0100

Financial services company, Apex Credit Management, based in Stratford-Upon-Avon, has expanded into Kent. The company’s Discovery Solutions division has taken a Regus serviced office at Kings Hill Business Park, near Maidstone, and hopes to create 50 new jobs in the county over the next three years.

Noble Systems releases results of contact centre survey

Tue, 30 Mar 2010 11:16:19 +0100

Noble Systems Corporation, a global leader in innovative contact centre technology solutions, today announced the results of a comprehensive survey, commissioned by Noble Systems of more than 1200 independent contact centres, the survey revealed that 97 percent of respondents expect their businesses to grow or remain stable in 2010, a sign of strong confidence in the industry.

Data show surge in consumer cases in fiscal 2009

Sun, 21 Mar 2010 22:38:53 +0100

WASHINGTON, USA – The number of new cases in federal courts related to consumer issues surged in the year ended last Sept. 30 as Americans battered by the recession fought foreclosures and downgraded debt ratings, data released Tuesday show.

FAAN Revenue Collection Concession Controversies

Sun, 21 Mar 2010 22:01:09 +0100

NIGERIA - The raging controversies over the concessioning agreement on revenue collection between the Federal Airports Authority of Nigeria(FAAN) and Maevis Nigeria Limited is getting murkier on a daily basis, since the beginning of this month when the media reported the later as complaining about some stumbling blocks within FAAN. The Commercial Department of FAAN was accused of giving waivers to some concessionaires running into several billion naira, against the terms of agreement on r ...

Rent-A-Center settles lawsuit with state

Sun, 21 Mar 2010 21:51:16 +0100

USA - A victory for local customers of Rent-A-Center furniture stores -- the company just settled a lawsuit over its debt collection practices.

Ohio Collection Agency Settles FTC Charges

Sun, 21 Mar 2010 21:44:09 +0100

USA - Credit Bureau Collection Services, a Columbus, Ohio collection agency, will pay a civil fine of $1.1 million to settle Federal Trade Commission charges that it violated federal law by inaccurately reporting credit information and pushing consumers to pay debts they often did not owe, FTC officials said today.

N.J. bill targeting abusive debt collection approved by Assembly panel

Sun, 21 Mar 2010 21:41:23 +0100

Legislation designed to combat unscrupulous debt collection practices was approved 3-2 Thursday by the Assembly Consumer Affairs committee.

Turmoil hits electricity subscribers

Sun, 21 Mar 2010 21:26:00 +0100

TURKEY - A large amount of people fail to pay their electricity bills amid the global turmoil. The electricity distribution company that offers service to 3.83 million subscribers on the European side of Istanbul sends execution letters to nearly 300,000 subscribers in 2009.

Suthers settles debt collection suit

Sun, 21 Mar 2010 19:38:26 +0100

DENVER, USA - Colorado Attorney General John Suthers has reached a settlement with four law firms, three attorneys and one associated business barring them from violating the state's debt collection and consumer protection laws.

San Jose writes off $1.7 million in debts

Sun, 21 Mar 2010 19:32:53 +0100

USA - Although San Jose is struggling with multimillion-dollar deficits, the City Council this week voted unanimously to write off $1.7 million owed to city coffers.

VTB overdue debt reaches $2 billion

Sun, 21 Mar 2010 19:26:54 +0100

In the last year the amount of VTB overdue loans has increased 50% to $2 billion, according to a report in Vedomosti.

State looks for ways to collect debt

Sun, 21 Mar 2010 19:09:36 +0100

DES MOINES, USA - Iowa lawmakers are looking to hire a debt coordinator to oversee a process of trying to recoup hundreds of millions of dollars owed to the state for unpaid court charges, back taxes or other delinquent payments.

Rwandas fund manager hires more bailiffs to curb defaulters

Sat, 20 Mar 2010 17:20:55 +0100

KIGALI, RWANDA - The Social Security Fund of Rwanda (SSFR) has recruited court bailiffs and tasked them with confiscating and auctioning property of contributors who default. Social Security Fund of Rwanda targets to collect about $45.7m (Rwf26.2 billion) as contributions and already $22.8 m (Rwf13.3 billion) has been realised in first semester.

LG advises on third Dubai liquidation in the DIFC

Thu, 18 Mar 2010 11:21:39 +0100

International business law firm Lawrence Graham LLP (LG) has advised Shahab Haider, the Liquidator of Orion Holding Overseas Limited, which was ordered to be wound up on 11 January 2010. Orion was previously known as a leading financial services firm in the Middle East and North Africa region. It is only the third liquidation case to be heard by the DIFC court.

Aspect positioned as leader in Contact Center Infrastructure Magic Quadrant

Wed, 10 Mar 2010 18:50:24 +0100

CHELMSFORD, Massachusetts - Aspect, a global provider of unified communications (UC) and collaboration services and software, today announced it has been positioned by Gartner, Inc. in the leaders quadrant of the 2010 Magic Quadrant for Contact Center Infrastructure, Worldwide report.

Foundation of the IPF Association

Mon, 08 Mar 2010 17:15:40 +0100

On Wednesday 24 February 2010, in London, 21 leading banks, clearing houses and associated payment service providers formed the International Payments Framework Association (IPFA).

New Edition: International Debt Collections Handbook!

Wed, 03 Mar 2010 23:49:00 +0100

AMSTERDAM – Atradius Collections, the global expert in domestic and cross-border debt collections, releases today the new extended edition of its International Debt Collections Handbook.

Aktv Kapital maintains profitability in challenging market

Fri, 26 Feb 2010 11:58:34 +0100

OSLO - Aktiv Kapital reports fourth quarter 2009 portfolio collection of NOK 402.8 million, compared with NOK 531.6 million in the fourth quarter 2008. Total operating expenses in the quarter were reduced 26 percent year-over-year, to NOK 187.4 million.

AIK - Presentation of Aktiv Kapital's fourth quarter results 2009

Mon, 22 Feb 2010 17:23:15 +0100

Aktiv Kapital's Q4 2009 results will be released on Friday 26 February 2010. In connection with the release, a teleconference/webcast will be held as described below:

FTC Returning $1.6M to Victims of Phony Debt Collection Scam

Fri, 19 Feb 2010 16:13:54 +0100

USA - The Federal Trade Commission is sending $1.6 million in recovered funds to 24,916 consumers it said were scammed each for about $100 or more by phony debt collectors who harassed and threatened their victims.

Collection Industry Employment Growth Expected

Fri, 19 Feb 2010 12:20:07 +0100

USA - In spite of today's tough economy and high unemployment rate, many people are finding work in the debt collection industry. According to the 2010-2011 edition of the Bureau of Labor Statistics' Occupational Outlook Handbook, the number of debt collection jobs in the United States is projected to grow 19 percent by 2018, a rate that exceeds the average for other occupations and provides hope for job seekers in a gloomy hiring market.

Jewelers Alert launches debt collection agency

Fri, 19 Feb 2010 12:17:11 +0100

New York, USA - Jewelers Alert, which operates a Web site that provides real-time credit information for the trade, has launched the Jewelers Alert Collection Corporation (JACC), a licensed debt collection service for the U.S. diamond and jewelry trade.

Council must use debt collectors as waste bill dodgers rack up 22m

Fri, 19 Feb 2010 12:14:18 +0100

IRELAND - Rathdown County Council is to employ a debt collection agency to obtain over €22m owed by residents and businesses for waste services.

Credit and Collection Executives are Doubtful About Economic Recovery in 2010

Fri, 19 Feb 2010 12:07:53 +0100

USA - Confidence in the economic recovery has eroded in the accounts receivable management industry (ARM), according to the results of insideARM.com's quarterly Credit & Debt Collection Industry Confidence Survey.

Capitec Bank in South Africa selects Experian for debt management and collections

Fri, 19 Feb 2010 12:05:56 +0100

SOUTH AFRICA - Capitec Bank has selected Experian, the global information services company, to help it enhance its debt management and collections activities.

Brazil's GRV Solutions SA Plans IPO On The BMFBovespa

Fri, 19 Feb 2010 12:00:44 +0100

SAO PAULO, BRAZIL - Brazil's GRV Solutions, a provider of credit management and processing services, said Thursday that it plans to hold an initial public offering on the Sao Paulo Stock Exchange, the BMFBovespa.

Minnesota AG sues 6 debt settlement companies

Fri, 19 Feb 2010 11:56:49 +0100

MINNEAPOLIS, USA - The state attorney general sued six out-of-state debt settlement companies Thursday for alleged violations of Minnesota law that left consumers already struggling with their debt in worse shape than when they started.

Number of FDCPA Cases Reaches All-Time High

Mon, 08 Feb 2010 12:43:58 +0100

USA - Total number of FDCPA cases increased more than 55 percent in 2009.

Comerica Bank Selects CGI for Global Trade and Supply Chain Services Processing

Wed, 03 Feb 2010 17:30:32 +0100

USA - CGI Group Inc. today announced a 5-year partnership with Comerica Bank to implement CGI’s Proponix360 global trade platform software which will help the bank reduce costs and enhance customer service.

Tax bailiffs raking it in at airport

Wed, 03 Feb 2010 11:54:36 +0100

COPENHAGEN, DENMARK - Passengers travelling through Kastrup airport with undeclared money can expect the taxman to be there waiting for them.

Apollo launches TrueCollect Express as a more affordable web collections technology

Tue, 02 Feb 2010 08:01:31 +0100

Irvine, California January 26, 2010 -- Apollo Enterprise Solutions, Inc ("Apollo") announces its launch of TrueCollect™ Express, a reduced-featured version of its award-winning market-leading TrueCollect technology.

Two year anniversary of SEPA Credit Transfers...

Thu, 28 Jan 2010 15:31:25 +0100

Jonathan Williams, Director of Strategic Development for Experian Payments, comments on the second anniversary of SEPA Credit Transfers.

FTC releases video offering debt collection advice

Fri, 22 Jan 2010 17:00:29 +0100

USA - The Federal Trade Commission released a video recently offering advice to consumers facing debt collectors.

ZRA collects K9.678 trillion in taxes

Fri, 22 Jan 2010 16:48:39 +0100

ZAMBIA - The Zambia Revenue Authority (ZRA) collected K9.678 trillion in taxes last year against the revised parliamentary target of K9.6 trillion, recording a surplus of K78.6 billion.

Ninth Circuit interprets the FDCPA

Fri, 22 Jan 2010 16:42:46 +0100

USA - In Donohue v. Quick Collect, Inc, the Ninth Circuit interpreted two sections of the Fair Debt Collection Practices Act (“FDCPA”) and held that a collections agency did not violate the FDCPA because the original payment terms between the appellant and her dental practice did not constitute a forbearance agreement under Washington State law. Additionally, the court held that the collections agency did not violate the FDCPA when it mislabeled the interest owed on the debt. ...

Uganda tops EAC states in revenue collection at 22.9%

Wed, 20 Jan 2010 17:56:23 +0100

UGANDA - Uganda Revenue Authority (URA) performance for the first half of the financial year indicates that Uganda is collecting slightly more taxes than its other EAC counterparts.

Debt collectors expect to recover with the economy

Wed, 20 Jan 2010 17:47:13 +0100

AUSTRALIA - Debt collectors expect to thrive now that the worst of the crisis is over, as falling unemployment not only means that consumers and businesses will start spending again, but also that it should be a little easier to recover what is owed.

Octempos new global cash flow management service suits SMEs

Wed, 20 Jan 2010 16:32:42 +0100

U.K. - Cash flow management specialists Octempo:RM believe an expansion of their international collections service will provide SMEs with a viable alternative to faceless credit insurance giants.

Outsourced Debt Collections Industry Maintains Positive Image

Mon, 18 Jan 2010 15:37:52 +0100

AMSTERDAM - In its recent "Global Collections Review" of over 3,500 companies across four continents, leading credit management and collections specialist Atradius assessed business requirements for outsourcing business-to-business collections services.

The FTC does its own collecting on debt chasers

Sun, 17 Jan 2010 12:35:31 +0100

USA - The Federal Trade Commission has just wrapped up a case that should send shivers down the spines of managers working in the debt-collection industry.

Debt law firm's fall brings chaos

Sun, 17 Jan 2010 12:25:09 +0100

USA - Maryland regulators and courts grappled Friday with the chaos created by the failure of a debt-collection law firm, as consumers endeavored - often with no luck - to figure out where to send payments or make good on court-ordered settlements.

Process server admits fraud

Sun, 17 Jan 2010 12:18:42 +0100

USA - A Long Island-based process server who was accused of leaving thousands of New Yorkers unaware that they had been sued for unpaid debts, subjecting many of them to surprise judgments, liens and wage garnishments, has pleaded guilty to fraud.

TCS posts sector leading performance for third consecutive quarter

Fri, 15 Jan 2010 15:21:45 +0100

MUMBAI, INDIA - Tata Consultancy Services reported its consolidated financial results according to US GAAP for the quarter ended December 31, 2009.

Major milestones achieved-FIRCA

Wed, 13 Jan 2010 17:13:02 +0100

FIJI - The Fiji Islands Revenue and Customs Authority said major milestones have been achieved as far as tax revenue collections are concerned for 2009.

ICICI Bank and First Data Enter Merchant Acquiring Alliance

Wed, 06 Jan 2010 11:30:42 +0100

MUMBAI – ICICI Bank, India’s largest private sector bank, and First Data, a global leader in electronic commerce and payment services, have formed a merchant acquiring alliance named ICICI Merchant Services, which has acquired ICICI Bank’s merchant acquiring portfolio.

Israeli Bailiff's Office figures

Mon, 04 Jan 2010 17:49:53 +0100

ISRAEL - The Bailiff's Office (Hotza'a lafo'al) collected NIS 920.2 million from January to November 2009, 1.8% less than in the parallel period in 2008.

Ontario Systems Announces Collect Savvy for Debt Collection Agencies

Mon, 04 Jan 2010 12:59:01 +0100

MUNCIE, IND., USA - Ontario Systems, a leading provider of accounts receivable and revenue cycle management solutions for collection and health care industries, announces the introduction of Collect Savvy, a new software solution designed for better debt collection management.

Interim Report on Creditor Claims in Arbitration and in Court

Mon, 04 Jan 2010 12:54:11 +0100

USA - The Searle Civil Justice Institute (SCJI) at Northwestern University School of Law released an Interim Report by its Consumer Arbitration Task Force on Creditor Claims in Arbitration and in Court. The Interim Report seeks to compare the outcomes of the American Arbitration Association (AAA) debt collection arbitrations to the outcomes of debt collection cases in court to evaluate arbitration as a means of resolving consumer disputes. ...

Iowa targets outstanding court debt

Mon, 04 Jan 2010 12:41:21 +0100

DES MOINES, IOWA, USA — Gov. Chet Culver is spearheading a new effort to get scofflaws who owe the state money to make good on their debt.

Parliament: Debt collectors cant use violence

Mon, 04 Jan 2010 12:39:27 +0100

KUALA LUMPUR, MALAYSIA - Debt collectors appointed by financial institutions cannot use violence and harass loan-takers, Deputy Finance Minister Datuk Chor Chee Heung said.

Supes consider hiring agency to collect fines

Mon, 04 Jan 2010 12:30:22 +0100

USA - The Oktibbeha County Board of Supervisors is considering whether or not to hire a collection agency to recover more than $1.1 million in unpaid taxes and fines from county residents.

North American Credit Services gives collections break during Christmas week

Mon, 04 Jan 2010 12:28:05 +0100

CHATTANOOGA, TN, USA – For some, a bill collector may conjure up images of a nasty, threatening character. Some who might even visualize as the "Grinch" during the holiday season, but Dallas S. Bunton, Sr., CEO and Chairman of North American Credit Services and Medical Services of Chattanooga, is tired of being lumped in with the Grinches.

Judge bans closed debt collection firm

Mon, 04 Jan 2010 12:25:48 +0100

Baton Rouge, USA - A Baton Rouge debt collection company that the Louisiana Attorney General’s Office says has been the subject of dozens of complaints from at least 30 states since 2001 was prohibited Tuesday from doing business.

Banks to create center for processing complaints against collection agencies

Mon, 04 Jan 2010 12:22:10 +0100

KYIV, UKRAINE - The Association of Ukrainian Banks (AUB) and the Independent Association of Ukrainian Collection Agencies (IAUCA) intend to create a center for processing complaints against debt collection agencies, according to the Web site of the AUB.

Revenue Management Corporation Awarded Multi-Year Contract

Mon, 04 Jan 2010 12:17:08 +0100

Chicago, IL – Revenue Management Corporation, a wholly owned subsidiary of RMK Holdings Inc. was awarded a multi-year RFP contract for Emergency Medical Services (EMS) Debt Collection Services from the City of Bloomington Fire Department.

Suits allege unscrupulous debt collection tactics

Mon, 04 Jan 2010 12:15:44 +0100

Three more people have filed federal lawsuits alleging unscrupulous practices by debt collectors.

More credit card issuers ditch mandatory binding arbitration

Mon, 04 Jan 2010 12:05:54 +0100

Even more customers can expect relief soon from a once nearly universal provision of credit card agreements that many debtors and their advocates consider profoundly unfair.

Swedes reach new peak in mountains of debt

Mon, 04 Jan 2010 12:01:35 +0100

Swedes are further in the red with the national debt collection agency (Kronofogden) than ever before, with accumulated debts currently totalling 64 billion kronor ($9 billion).

Courts hangover follows debt binge

Mon, 04 Jan 2010 11:54:59 +0100

There was no let-up in the rate at which finance companies dragged defaulting debtors into court in the eight months to the start of December.

Law vs. harassment of debtors 'must be passed'

Mon, 04 Jan 2010 11:50:48 +0100

Five months ago, Sen. Miriam Defensor Santiago proposed the Prohibiting Credit Card Debt-Collection Harassment bill aimed at “addressing numerous complaints on how credit card companies, through their counsels or collecting agencies, use unfair collection practices that range from harassment to borderline illegal."

Petitions against luxury car tax dismissed

Sun, 03 Jan 2010 21:54:33 +0100

THE Lahore High Court on Thursday dismissed hundreds of identical petitions challenging the levy of two per cent luxury tax on imported cars having engine bigger than 2000 CC.

Business Payments Continue to Decline, According to Experians Latest Business Benchmark Report

Fri, 18 Dec 2009 18:36:50 +0100

Experian®, the leading global information services company, today announced the results of its monthly Business Benchmark Report. During the month of November, the majority of measurements in the report show that payment performance is continuing to deteriorate nationwide across most industries, geographies and businesses of all sizes.

ExpertoCredite Signs Letter of Intent to Acquire TimeFinans ABs Debt Collection, Volex Inkasso AB

Fri, 18 Dec 2009 18:04:33 +0100

Experto Credite Ltd announced today that it has signed a letter of intent for the proposed acquisition of Volex Inkasso AB (former subsidiary of TimeFinans AB being part of Halens Postorder in Borås-Sweden).

Aspect leverages unified communications to lower hold time by 76 percent

Thu, 17 Dec 2009 11:11:45 +0100

Aspect, a unified communications (UC) solutions provider, today announced it has seen measurable results in its support call centre through the use of unified communications capabilities and the Seamless Customer Service UC application for the contact centre.

Businesses See Massive Rise in Foreign Debt in 2009

Tue, 15 Dec 2009 09:06:59 +0100

2009 saw a colossal increase in the value of foreign debt being chased by UK exporters. New data from Lovetts, the law firm specialising in commercial debt recovery and litigation, has found that in the first quarter of the year, businesses were experiencing a shocking 475% increase in the value of debt from overseas customers compared to the same period in 2008.

Fees owed to San Diego city top $4 million

Mon, 14 Dec 2009 10:51:02 +0100

As it struggles to close a $179 million city deficit, San Diego has failed to collect more than $4 million in fees owed by private companies and public agencies that sought development approvals, according to a new audit.

Intrum Justitia Creates Strategic Alliance with Coface in France

Mon, 14 Dec 2009 10:19:29 +0100

Intrum Justitia enters into a joint venture with Coface in France. The purpose is to jointly run B2C collection business, currently owned by Coface Services. Coface has global presence with 7 000 employees in 67 countries. The subsidiary Coface Services is a French leader in credit information and credit services.

DialConnection LLC granted signatory status to the collection technology open standard

Fri, 11 Dec 2009 09:44:07 +0100

DialConnection has become a Signatory to the Collection Technology Open Standard (CTOS), a best practices document that defines what it means for collection technology to be open. The Signatory designation indicates that DialConnection supports and adheres to the CTOS.

Bailiffs auction off dacha of MMM financial pyramid mastermind

Fri, 11 Dec 2009 09:33:06 +0100

MOSCOW (Itar-Tass) - Bailiffs sold the village house of MMM financial mastermind Sergei Mavrodi in the Tver region, to meet the compensation claim from defrauded investors.

Adeptra achieves global PCI DSS compliance

Wed, 09 Dec 2009 20:04:59 +0100

Adeptra, the recognised leader in automated contact and resolution services to financial institutions, today announced that it has achieved global compliance with the Payment Card Industry Data Security Standard (PCI DSS) and ISO27001, the international information security standard. Adeptra was the first Interactive Voice Messaging organisation to be accredited to the highest data protection standards mandated by the Payment Card Industry, and uniquely, has now achieved this globally. ...

Bailiff Fired For Using Unnecessary Force

Mon, 07 Dec 2009 09:31:10 +0100

Iris Tisby was arrested in July for assaulting a law enforcement officer, and a bailiff in juvenile court said Tisby also attacked him in the courthouse.

Police raise fees

Mon, 07 Dec 2009 09:27:48 +0100

All Fijian police clearance and vetting fees will increase from January 1, 2010. This means that anyone seeking clearance from the Fiji Police Force for a variety of services including migration, work permits, and licences for liquor, bailiff, hotel and Public Service Vehicles will have to pay more from next year.

Octempo:RM speaks OH2's language when it comes to chasing payments

Wed, 02 Dec 2009 10:10:48 +0100

A translations business is getting the help they need to become established in the UK from a unique cash flow management specialist, which can chase invoice payments in up to 27 different languages.

What is the European Commission doing about e-Invoicing?

Mon, 30 Nov 2009 17:37:41 +0100

In 2007 the Commission worked with a wide range of stakeholders - companies, banks, other financial service providers, standardisation organisations - to develop a common understanding of the problems and to agree the best way forward.

Imaginary girl used by Russian bailiffs turns real and sues them

Thu, 26 Nov 2009 09:31:23 +0100

A 26-year old Moscow woman wants bailiffs from the Russian republic of Udmurtiya to pay her 5 million rubles for using her photos from social networking sites in a trap to catch tax-dodgers.

MasterCard Launches MasterCard Mobile Payments Gateway to Spark Mobile Commerce Globally

Mon, 16 Nov 2009 17:28:26 +0100

MasterCard today announced the introduction of the MasterCard Mobile Payments Gateway, a mobile payments processing platform that enables financial institutions and mobile network operators to deliver end-to-end mobile payments solutions through the MasterCard Worldwide Network.

Malaysian debts chased

Mon, 16 Nov 2009 16:24:31 +0100

Selangor's Mentri Besar Incorporated (MBI) is to launch a massive debt collection exercise to recover some RM450 million from its subsidiary companies.

Czech bankruptcies rise

Mon, 16 Nov 2009 16:21:24 +0100

The number of Czech bankruptcy filings rose 71 percent year on year, a research by debt collection and research firm Creditreform showed on Monday.

Debt figures grim - Baycorp

Mon, 16 Nov 2009 15:00:04 +0100

A grim picture of Kiwi debt has been painted in new figures by debt collection company Baycorp.

Telstra overspends $1.5b on IT transformation

Mon, 16 Nov 2009 14:58:18 +0100

Telstra’s IT transformation budget is over by $1.5 billion on the original $12 billion forecast when the project commenced in November 2005.

Boom times for debt collectors

Mon, 16 Nov 2009 14:53:59 +0100

The recession may be over but figures released by transtasman debt collection agency Baycorp show its impact is still hitting profit and loss accounts nationwide.

GAO Report Says IRS Debt Collection Efforts Ineffective, Costly

Mon, 16 Nov 2009 13:20:44 +0100

The U.S. Government Accountability Office recently released a report confirming what has long been obvious to members of the credit and collection industry– the IRS doesn't do debt collection nearly as well on its own as it does when partnering with professional debt collectors.

AG seeks greater authority over debt collectors

Mon, 16 Nov 2009 13:19:16 +0100

Florida Attorney General Bill McCollum has requested the Legislature to provide expanded authority to sue abusive debt collectors.

VocaLink restructures company to support international growth

Mon, 16 Nov 2009 11:19:31 +0100

VocaLink, the payment transaction specialists, today announced a restructuring of the company in response to international market demand for modern payment services.

Trade matching to settlement made easy

Mon, 09 Nov 2009 12:37:30 +0100

Euroclear Bank and Xtrakter are launching immediately the means for mutual clients to automate transaction information flows from trade matching through to settlement.

A rating for EOS consolidated

Mon, 09 Nov 2009 10:45:47 +0100

For the fifth time in succession, Euler Hermes Rating GmbH has awarded an ‘A’ rating to EOS consolidated. This means that the agency regards the company’s credit standing as well above the average that prevails in the economy as a whole.

Aspect named Leading IP Contact Centre Vendor in Customer Survey

Tue, 03 Nov 2009 17:37:58 +0100

Aspect, a unified communications (UC) solutions provider, today announced it has won the 2009 PilotHouse IP Contact Center Award based on a customer survey report from Nemertes Research, a research-advisory firm.

Russian bailiffs mark their first professional holiday

Sun, 01 Nov 2009 22:34:22 +0100

Russian bailiffs mark their professional holiday for the first time this Sunday. President Dmitry Medvedev established the professional holiday in early September 2009.

Aktiv Kapital with stable performance in a challenging market

Wed, 28 Oct 2009 09:12:39 +0100

Aktiv Kapital reported a pre-tax cash flow per share of NOK 6.18 in the third quarter 2009, an increase of 12 percent compared to third quarter 2008. The NOK 1.75-1.85 billion collection target for 2009 is maintained. The Group experiences a significant increase in acquisition opportunities.

Aspect Appoints Peter Nicol as Vice President of Sales, Northern Europe

Thu, 22 Oct 2009 17:54:11 +0100

Aspect, a unified communications (UC) solutions provider, today announced the appointment of Peter Nicol as vice president of sales, Northern Europe.

Survey Reveals Delays in Pay Declining for U.S., Global Businesses

Tue, 20 Oct 2009 16:43:56 +0100

For U.S. businesses, getting paid for their products and services during the global economic recession is not a black-and-white issue-it's about staying out of the red.

Canadian bailiff pleads guilty to fraud, handed house arrest

Mon, 19 Oct 2009 17:58:11 +0100

A process server, from Kamloops, Canada, accused of defrauding or stealing from clients pleaded guilty in B.C. Supreme Court Friday.

End of imprisonment for debt urged by Irish law reform group

Mon, 19 Oct 2009 12:38:50 +0100

ENDING THE use of imprisonment for debt, preventive measures to address personal debt at an early stage, new non-judicial debt settlement procedures and the redrafting of the law on debt enforcement are among the provisional recommendations from the Law Reform Commission in its latest discussion paper.

Atradius Collections Launches International Debt Collection Handbook

Mon, 19 Oct 2009 12:31:39 +0100

Atradius Collections, the global expert in domestic and cross-border debt collections, releases today its comprehensive resource bank on debt collections procedures and practices around the world.

Charges against 12 US debt collectors

Mon, 19 Oct 2009 12:29:27 +0100

Attorney General Andrew M. Cuomo today announced the filing of criminal charges against 12 employees of several Buffalo-area debt collection companies for posing as law enforcement officials and threatening to have consumers thrown in jail unless they immediately paid off the debts that they supposedly owed.

Irish HSE to collect debts

Mon, 19 Oct 2009 12:24:53 +0100

The HSE expects to save a minimum of E3.5 million a year when the new National Credit Management Unit (NCMS) is fully operational, Irish Medical Times has learned.

Harare Improves Debt Collection

Mon, 19 Oct 2009 12:15:26 +0100

HARARE City Council which is owed US$28 million by ratepayers has introduced a special concession as part of its drive to get all residents in arrears to pay up.

Accounts Receivable Management Company Adding 600 New Employees

Mon, 19 Oct 2009 12:09:50 +0100

As the global economic collapse of last year settles out, most U.S. companies consider themselves fortunate to remain profitable. But during each recession, there are always those like United Recovery Systems who flourish in turbulent times.

Colorado Changes Web Address Required in Initial Collection Notices

Mon, 19 Oct 2009 12:06:21 +0100

The administrator for the Colorado Fair Debt Collection Practices Act (CFDCPA) issued a memorandum advising collection agencies the Web site address for the Colorado attorney general's office has changed to http://www.coloradoattorneygeneral.gov/ca.

Advent International acquires majority stake in financial service provider GFKL Financial Services

Mon, 19 Oct 2009 12:01:48 +0100

Apollo Launches TrueCollect

Wed, 14 Oct 2009 10:07:34 +0100

Apollo Enterprise Solutions, Inc., the leading provider of web-based payment, debt collection and debt recovery technologies, today announced the consolidation of its market-leading web collections solutions into one comprehensive offering, branded TrueCollect™.

Advent International acquires majority stake in financial service provider GFKL Financial

Mon, 12 Oct 2009 18:40:22 +0100

Advent International, the global private equity firm, has signed agreements to acquire a majority stake in GFKL Financial Services AG, a leading independent financial service provider for debt collection and debt purchase in Germany from a consortium of institutional investors. In addition, Advent will participate in a capital increase to strengthen GFKL’s equity base and to realise further growth. The purchase price was not disclosed. The acquisition is subject to closing conditions inclu ...

Court upholds decision to sell Telenor's stake in VimpelCom

Wed, 07 Oct 2009 18:28:31 +0100

A Moscow court rejected on Tuesday an appeal from Norway's Telenor to suspend an order by Russian bailiffs to auction its 26.6% stake in Russia's second largest mobile phone operator, VimpelCom.

Russian Court Adjourns Telenor Suit

Wed, 30 Sep 2009 18:12:41 +0100

A closely watched Russian lawsuit against Telenor ASA was adjourned again Thursday, prolonging a year-long legal battle and weakening the Norwegian company's position in negotiations with co-investor Alfa Group.

Commission consultation shows general support for end-date for SEPA migration

Tue, 29 Sep 2009 16:01:55 +0100

The European Commission has published the results of a public consultation launched in June 2009 (IP/09/884) on whether and how deadlines should be set for the migration of existing national credit transfers and direct debits to the new Single Euro Payments Area (SEPA) payment instruments.

Firms turn to debt collector as Dubai pay crisis deepens

Mon, 21 Sep 2009 20:30:25 +0100

Financial Solutions agency sees sevenfold jump in clients – who are chasing £7m in unpaid bills.

TouchStar CCS to Offer Enhanced Services from Noble Systems Acquisition

Wed, 16 Sep 2009 16:39:33 +0100

UK-based reseller Telecom Applications, trading as TouchStar Call Centre Software, is poised to benefit from Noble Systems’ acquisition of certain assets from Denver based TouchStar Software Corporation.

Unpaid debt surges in wake of crisis

Tue, 15 Sep 2009 22:50:58 +0100

The number of files opened by the Israeli Bailiff's Office jumped 10 percent in the first eight months of this year compared to the same period last year. This figure comes from an internal report compiled by the Bailiff's Office, the court agency that collects outstanding debts on court judgments.

FAC teams up with Chexx Inc. to provide international checks and electronic funds transfer

Mon, 14 Sep 2009 17:11:12 +0100

First Atlantic Commerce (FAC), a leading, international, multicurrency payment gateway and risk management solutions provider, and Chexx, Inc., a global remittance payment company, have joined together to offer simple, fast and affordable outgoing payment remittance and refunding solutions for FAC’s merchants around the world.

VocaLink new European centre in Amsterdam to support its growing customer base in the Benelux region

Mon, 14 Sep 2009 12:06:21 +0100

VocaLink, the international payments specialist, today announced the opening of its European centre in the World Trade Center, Amsterdam, in response to its growing customer base in the Benelux region. The new Dutch centre underpins VocaLink’s commitment to supporting clients in their local markets, whilst recognising that payment systems must provide international capability.

VocaLink pledges support for Oxfam Hong Kong at Sibos 2009

Mon, 14 Sep 2009 11:58:29 +0100

VocaLink, the international payments specialist, announced today that it will be supporting the Oxfam Unwrapped campaign at this year’s Sibos conference in Hong Kong. VocaLink aims to donate £10,000 (HK $130,000) to Oxfam Hong Kong, an Oxfam International affiliate, to support the work of the office local to the conference. The donation will be split between three Oxfam Unwrapped causes: family learning, school reconstruction and water pipe construction.

EOS Group buys Spanish debt collector

Fri, 11 Sep 2009 13:22:07 +0100

The Spanish Banco Pastor Group and the international EOS Group have reached an agreement by which EOS will acquire 100 per cent of the stakes in Acción de Cobro. Both parties have signed the contracts.

Cross-border euro payments scheme failing: EU

Fri, 11 Sep 2009 13:15:42 +0100

Countries should order banks to kickstart a flagging scheme to allow people to make quick and cheap electronic payments across European borders, the EU warned on Thursday.

Banco Pastor Group sells Acción de Cobro to international receivables management company EOS Group

Tue, 08 Sep 2009 18:01:18 +0100

VocaLink and KIR Announce Interoperability Agreement for SEPA Credit Transfers

Mon, 07 Sep 2009 16:05:33 +0100

VocaLink, the international payments specialist, today announced that it is working with KIR (Krajowa Izba Rozliczeniowa S.A.), the national clearing house for Poland, to establish a bilateral link for the exchange of SEPA Credit Transfer (SCT) payments based on the EACHA interoperability standards.

SWIFTReady accreditation for Tieto's payment solution

Mon, 07 Sep 2009 13:33:45 +0100

Tieto has obtained the SWIFTReady Payments 2009 label for its Payment Suite. The accreditation is proof of Tieto's capability to provide SWIFT-compliant solutions. This SWIFTReady label awarded by SWIFT confirms Tieto's standing as a vendor with a long track record in supplying high quality payment products.

Primorsky Krai Debtors will Face Suspension of Drivers License and Foreign Passport

Tue, 01 Sep 2009 08:56:48 +0100

Russian Government drafted a bill stipulating suspension of a debtor’s driver’s license, stated Artur Parfenchikov, Federal Bailiff Service Director, during his recent visit to Primorsky Krai.

Black Sea Fleet command calls provocative Ukrainian bailiffs intrusion

Thu, 27 Aug 2009 18:05:08 +0100

The Russian Black Sea Fleet command is indignant at Ukrainian bailiffs' penetration into the location of a Russian military unit.

5th International EOS Congress: Financial market 2009 Nothing is more constant than ...

Mon, 24 Aug 2009 17:13:59 +0100

In times of crisis, efficient receivables management takes centre stage. Which receivables management measures have the desired effect in difficult financial situations? How do I secure my company’s liquidity? These are just some of the topics for discussion at the Fifth International EOS Congress, which will be held on 15 and 16 October in the Swissôtel in Berlin under the slogan ‘Nothing is more constant than change’.

The British pay late but reliably

Fri, 21 Aug 2009 12:35:47 +0100

Scarcely two-thirds of invoices in the United Kingdom are paid within an average payment period of 31 days. This is one result from the EOS Five Nations Survey 2009 ‘European Payment Practices’.

Russia bailiff sees 'issues' with Telenor fine

Wed, 19 Aug 2009 18:42:00 +0100

Russian bailiffs said there are "issues" with the forced sale of Vimpelcom shares held by Norwegia's Telenor's to pay for a $1.7 billion fine, Interfax quoted the chief bailiff as saying on Tuesday.

EOS Group remains on course of growth

Mon, 17 Aug 2009 08:55:56 +0100

The EOS Group has continued with its course of growth in the 2008/2009 financial year: between 1 March 2008 and 28 February 2009, the international provider of receivables management, marketing and risk information, as well as payment services increased its consolidated sales by EUR 54.1 million to EUR 297.4 million.

Debtors get a break with suit

Sun, 16 Aug 2009 17:11:13 +0100

A class-action lawsuit against a debt-collection company has been settled, with the result that 2,371 Nebraskans on whom allegedly illegal methods were used in trying to collect bills will get at least some of their debt wiped out.

Unifund agrees to deal in Neb. collection case

Sun, 16 Aug 2009 17:05:20 +0100

More than 2,800 Nebraskans will share in a $148,625 settlement that a debt-collection firm agreed to pay because of questions about its practices.

Aktiv Kapital - Second quarter report for 2009

Thu, 13 Aug 2009 09:07:09 +0100

Aktiv Kapital achieved operating revenue of NOK 300.5 million (NOK 377.1 million) in the 2nd quarter of 2009, and an operating revenue of NOK 649.1 million (NOK 747.6 million) in the 1st half of 2009.

EOS Group with new Board member for Eastern European region

Mon, 10 Aug 2009 11:28:39 +0100

As of 1 August 2009, Dr Axel Steuernagel joined the Board of Directors at KG EOS Holding GmbH & Co and assumed responsibility for the Eastern Europe region. In the region, EOS is present in twelve countries and holds leading market positions. Mr Steuernagel is replacing Klaus Engberding, who was responsible for this business unit on a provisional basis from mid-2008 onwards. Mr Engberding will continue to be responsible for the Germany business unit.

Norway's Telenor loses appeal in Moscow court

Sun, 09 Aug 2009 20:24:38 +0100

Norway's Telenor lost another round of its Russian legal battle on Thursday, when a Moscow appeals court rejected its latest attempt to delay the enforcement of a $1.7 billion fine owed to Russian telecoms firm Vimpelcom.

Firstsource earnings news

Wed, 29 Jul 2009 17:33:43 +0100

Firstsource Solutions Limited, among India's leading pure-play BPO companies, reported its consolidated financial results for the quarter ended June 2009 according to Indian GAAP.

EOS Five Nations Survey 2009

Wed, 29 Jul 2009 17:18:43 +0100

Three out of four invoices (77%) are paid on time in Germany – in southern Germany the figure is even 79%. Furthermore, the average payment period of 25 days that is granted to clients by German companies is shorter than in any of the other four countries surveyed.

Telenor loses Moscow suit on Vimpelcom stake sale

Wed, 29 Jul 2009 09:48:14 +0100

Norway's Telenor lost a lawsuit on Tuesday to block a forced sale of its stake in Russian mobile firm Vimpelcom but promised to appeal the decision.

1.9m Foreclosure Filings Reported on More Than 1.5 Million U.S. Properties in First Half of 2009

Thu, 16 Jul 2009 16:45:24 +0100

RealtyTrac, the leading online marketplace for foreclosure properties, has released its Midyear 2009 U.S. Foreclosure Market Report, which shows a total of 1,905,723 foreclosure filings -- default notices, auction sale notices and bank repossessions -- were reported on 1,528,364 U.S. properties in the first six months of 2009, a 9 percent increase in total properties from the previous six months and a nearly 15 percent increase in total properties from the first six months of 2008. The report al ...

Action on foreign debt rises by 19% - tips to deal with foreign late payment

Wed, 15 Jul 2009 17:29:58 +0100

Legal action to secure payment from foreign debtors is on the rise according to Lovetts, one of the UK’s leading debt recovery law firms. The number of Letters Before Action (LBAs) being issued on behalf of UK businesses to foreign debtors has increased 19% Q1 2009 vs Q1 2008.

Swiss-Made Direct Debits for Europe - SIX Group Launches new SEPA Service for the European ...

Thu, 09 Jul 2009 16:53:14 +0100

SIX Group, the Swiss financial market infrastructure provider, will offer a SEPA-compatible direct debit service in cooperation with the SECB Swiss Euro Clearing Bank, Frankfurt, starting November 2, 2009.

Council advertises for bailiffs to clear Traveller's sites

Wed, 08 Jul 2009 18:20:48 +0100

Basildon council has published a notice seeking expressions of interest from bailiffs to potentially carry out the eviction of Travellers at Dale Farm and Hovefields Drive.

Academy Collection Service Sold to Senior Management Group

Wed, 08 Jul 2009 09:26:55 +0100

Academy Collection Service, Inc., a Philadelphia-based third party collection agency, was sold to three of its senior managers through a newly formed holding company, Monarch Recovery Management, Inc.

Equifax Launches New Debt Freedom Product

Tue, 07 Jul 2009 16:53:38 +0100

Equifax today launched Debt Wise(TM), an innovative product that uses information from the Equifax Credit Report(TM) to empower consumers to free themselves from debt--faster.

EOS opens new company in Croatia

Wed, 29 Apr 2009 09:13:11 +0100

EOS Group has entered the Croatian market. The new local company EOS Matrix d.o.o. has, since March 1, been offering debt collection, debt purchase as well as collection training and consulting to clients.

Storebrand Bank extends its agreement with EDB

Wed, 15 Apr 2009 10:19:19 +0100

Storebrand Bank ASA has extended and expanded its agreement with EDB Business Partner ASA for the delivery of payment services and bank operating solutions to the bank. The agreement runs to January 2014, and represents total contract value of around NOK 100 million.

Telenor Served With Claim for $1.7 Billion in Norway

Mon, 06 Apr 2009 15:04:13 +0100

Telenor ASA, the biggest Nordic phone company, said it won¹t pay a $1.7 billion fine linked to a Russian court case, after a claim was served by a Norwegian bailiff.

Anglian Water chooses Experian for arrears management

Wed, 01 Apr 2009 08:49:03 +0100

Anglian Water, which serves six million industrial, commercial and domestic customers in the east of England, has chosen Experian's Tallyman debt management and collection software to help manage customers in arrears and collect unpaid bills.

SunGard and Experian extend address verification

Tue, 10 Mar 2009 10:10:55 +0100

SunGard Higher Education and Experian QAS have expanded their relationship and product integration to help higher education advancement offices improve data entry efficiency, mail delivery rates, and communication with alumni and other constituents.

EU - Payment Services Directive

Mon, 09 Mar 2009 22:52:04 +0100

There are only eight months remaining for payment service providers to prepare for the Payment Services Directive (PSD), a new EU harmonisation law that will impact all payments, particularly those made into and out of bank current accounts.

Aktiv Kapital - Lindorff kickstarts collections in Spain

Sat, 07 Mar 2009 10:30:52 +0100

Lindorff has kickstarted its greenfield operations in Spain as of March 3, where a former Aktiv Kapital collections centre in Barcelona with 38 employees has been transferred to Lindorff.

Experian appoints Simon Waller to lead collections business

Tue, 03 Mar 2009 09:21:56 +0100

Experian, has confirmed the appointment of Simon Waller as its Head of Collections, UK and Ireland.

Aktiv Kapital staff cuts, offices close, profits down, collections strong

Thu, 26 Feb 2009 08:30:35 +0100

Leading debt buyer Aktiv Kapital announced its Q4 2008 results and end-year figures earlier this morning in Oslo.

VAT rules on invoicing

Tue, 24 Feb 2009 22:11:34 +0100

The European Commission has recently proposed a review of the VAT rules on invoicing with a view to reduce burdens on business and to help Member States to tackle fraud.

Experian increases collections insight with new data enhancement service

Wed, 18 Feb 2009 14:04:32 +0100

Experian, the global information services company, today launched a new data enhancement service for the UK collections market. Powered by Experian’s data and analytics, the new service will help lenders and collections houses improve customer insight by scoring and appending a range of valuable information to customer files.

Orange Poland upgrades fraud management capability

Tue, 17 Feb 2009 14:29:52 +0100

Orange Poland is celebrating the ‘go live’ of its new fraud management solution provided by risk management software vendor Neural Technologies.

PIC Solutions agency management service boosts collections returns

Sat, 14 Feb 2009 19:56:24 +0100

By taking advantage of Agency Management Service, the latest addition to the PIC Solutions market leading product range, credit providers can improve their net collections return by up to 14%. PIC Solutions demonstrated this improvement by analysing a South African retailer’s 24-month billing information and compared results with current industry best practice.

Tieto profitability on track

Tue, 10 Feb 2009 14:22:16 +0100

Tieto's fourth-quarter net sales remained at the same level as in the fourth quarter of 2007 and amounted to EUR 492.0 (491.3) million. As 27% of Tieto's net sales are generated in Sweden, the weakened Swedish currency (SEK) had a negative impact on net sales in euros. In local currencies, net sales grew by 4%. Operating profit, excluding one-off items related to the Performance Improvement Programme, amounted to EUR 42.4 (39.1) million, representing a margin of 8.6% (8.0).

Sidetrade turnover up 20%

Tue, 10 Feb 2009 13:58:01 +0100

Sidetrade, the European leader in optimisation solutions for credit management provided as SaaS (Software as a Service), has announced 2008 results confirming the growing success in the SaaS model.

EU Expert Group on E-invoicing calls for removal of barriers

Tue, 10 Feb 2009 13:50:04 +0100

The Expert Group on Electronic Invoicing published its interim report today, which sets out a vision for a European Electronic Invoicing (EEI) Framework. Despite having great potential, the Expert Group asserts that e-invoicing, the electronic transfer of billing and payment information between supplier and buyer, is still held back by a number of barriers before it could achieve mass-adoption. The mid-term report sets out a number of initial recommendations to remove or reduce these barriers.&n ...

Aktiv Kapital UK new country manager

Wed, 04 Feb 2009 10:31:45 +0100

We are pleased to announce that David Sheridan is appointed and has accepted the role as Country Manager for Aktiv Kapital UK. Aktiv Kapital UK is based in Bromley outside London and in Chester.

PIC Solutions opens Abu Dhabi office

Tue, 27 Jan 2009 13:49:20 +0100

PIC Solutions, the leading credit risk management consultancy in the Middle East and Africa region, will expans its footprint in the Middle East with the opening of a new office in Abu Dhabi on 1 February 2009.

Neural Technologies and DirecTV fraud project wins award

Tue, 20 Jan 2009 20:54:28 +0100

Risk management software solution provider, Neural Technologies, has been presented with an Organisational Excellence Award from the British Computer Society (BCS) for the work it carried out with DirecTV, the US’s leading digital TV entertainment provider.

Aktiv Kapital will reduce annual cost with more than NOK 100m

Mon, 19 Jan 2009 16:17:35 +0100

Aktiv Kapital is committed to reduce the cost base with more than 10 percent to improve profitability and prepare the Company for more financially challenging times.

Transcom appoints new president and CEO

Thu, 15 Jan 2009 12:34:18 +0100

Transcom WorldWide S.A., the global outsourced services company, today announces that Keith Russell, President and Chief Executive Officer, will leave the Company and will be replaced by Pablo Sanchez-Lozano as the next President and Chief Executive Officer of the Company.

PIC Solutions partners with leading Pakistani systems integrator

Tue, 13 Jan 2009 16:26:59 +0100

PIC Solutions, the leading specialist credit risk solutions company in the EMEA region, has forged a partnership with respected Pakistani systems integrator, National Data Consultant Pvt. Limited (NDC).

New insolvency rules do not go far enough

Tue, 13 Jan 2009 16:14:24 +0100

Four in five UK suppliers may have to write off unpaid debt due to ineffectual new rules for pre-pack insolvency arrangements; where a buyer is lined up before an insolvency technically occurs and without creditor agreement.

SME credit insurance service launched

Mon, 05 Jan 2009 11:19:39 +0100

With insolvencies set to increase in 2009, some 20% more of SMEs have turned to credit insurance this year to protect their balance sheet than in 2007. In response, the UK’s leading credit insurance broker Aon Trade Credit has launched Aon Tradeability.

TietoEnator establishes a new Performance Share Plan and share ownership guideline

Thu, 18 Dec 2008 17:40:46 +0100

The Board of Directors of TietoEnator Corporation has approved a new share-based incentive plan (Performance Share Plan 2009-2011) to be offered to the president and ceo and other members of the leadership team, share ownerships guideline for the president and ceo and other leadership team members and decided to continue preparations to launch an Option Plan for the key personnel of TietoEnator.

Outlook for Polish debt management is good

Wed, 17 Dec 2008 16:38:02 +0100

Piotr Krupa, chairman of KRUK SA, has no worries about the way debt management is going in Poland.

Schools, building industry and lawyers worst affected by late payments

Fri, 12 Dec 2008 00:00:00 +0100

The European business community is missing out on a record amount of minimum €250 billion as a consequence of overdue invoices.