News

FICO Survey Finds U.S. Consumers Face Growing Credit Gap

Wed, 08 Sep 2010 18:42:49 +0100

MINNEAPOLIS - FICO, the leading provider of analytics and decision management technology, today announced the results of its quarterly survey of bank risk professionals. The survey, conducted for FICO by the Professional Risk Managers’ International Association (PRMIA), found strong evidence of a credit gap for U.S. consumers as lenders expect credit availability to fall short of consumer demand through the end of 2010.

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%.

The Norwegian Tax Administration enters into NOK 120 million agreement with EDB

Mon, 06 Sep 2010 17:57:42 +0100

OSLO - The Norwegian Tax Administration has entered into an agreement with EDB for mainframe operating services. The contract runs to 2017, and represents total contract value of NOK 120 million.

Deutsche Bank strengthens the high yield trading business in Europe

Thu, 02 Sep 2010 16:19:17 +0100

Deutsche Bank today announced a number of key hires to strengthen its already successful high yield trading business in Europe.

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 ...

Adeptra brings context and intelligence to global banks with new deployments of its decision engine

Wed, 18 Aug 2010 18:04:25 +0100

READING, UK and NORWALK, CT – Adeptra, the recognized leader in automated customer contact and resolution for fraud, collections and marketing, has announced new deployments of its Decision Engine technology for banks headquartered in North America and Europe.

41st Parameter Teams With Horus Fraud Prevention Solutions to Establish Local Presence in S. America

Wed, 11 Aug 2010 18:20:02 +0100

SCOTTSDALE, ARIZ - 41st Parameter Inc., the leading provider of person-not-present cross-channel fraud prevention solutions, today announced it has signed Sao Paulo-based Horus Fraud Prevention as the exclusive reseller of 41st Parameter's FraudNet suite of solutions for Brazil with the right to also market and deploy 41st Parameter products throughout South America.

FRSGlobal adds two Vice-Presidents to Executive Management Committee

Tue, 10 Aug 2010 17:45:20 +0100

BRUSSELS - FRSGlobal, the industry-recognised leader in content-rich solutions for unified global regulatory reporting and risk management, today announced that it has appointed Nancy Schneier as Vice President Global Alliances and Wolfgang Prinz as Vice President Product Management.

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.

Experian signs global data integration deal with HSBC

Mon, 09 Aug 2010 19:14:35 +0100

Nottingham, 9 August 2010 – Experian®, the global information services company, today announced an enterprise deal with HSBC to help integrate the bank’s access to external data sources around the world.

Equifax Reports Second Quarter 2010 Results

Thu, 29 Jul 2010 17:16:40 +0100

ATLANTA - Equifax Inc. today announced financial results for the quarter ended June 30, 2010. The company reported revenue from continuing operations of $460.7 million in the second quarter of 2010, a 7 percent increase from the second quarter of 2009.

FICO® 8 Score Is New Standard for Credit Risk Assessment

Wed, 28 Jul 2010 18:11:21 +0100

MINNEAPOLIS — FICO, the leading provider of analytics and decision management technology, today announced that its FICO® 8 Score, used for consumer credit risk assessment, has been adopted by more than 2,500 banks and financial institutions. This widespread market adoption occurs as lenders continue to benefit from the enhanced predictive analytics of the new score.

Aspect Selected as Finalist for 2010 Microsoft Partner Awards

Tue, 20 Jul 2010 17:47:20 +0100

Aspect, a global provider of unified communications and collaboration services and software, today announced it has been selected as a finalist for the Microsoft Partner Awards in the Information Worker Solutions, Communications and Collaboration Solution Partner of the Year award category.

UK ATMS open to German girocard holders

Wed, 14 Jul 2010 10:41:07 +0100

LONDON and BERLIN - Holders of German debit cards – known as ‘girocards’ – are now able to withdraw cash from ATMs across the UK. The UK’s LINK ATM network has opened all 63,000 UK cash machines to all users of the German card scheme (more than 92 million) operated by the Zentraler Kreditausschuss (German Banking Community).

YES-secure successfully approves its first three Social Lending Loans

Tue, 13 Jul 2010 10:28:34 +0100

YES-secure.com, UK’s first truly social networking lending and borrowing web marketplace specifically for consumers in the UK has successfully closed its first THREE social lending loans in its very first month of operations with several more loan requests in the approval pipeline.

FSA moves to make sure all borrowers with a new mortgage can afford it

Tue, 13 Jul 2010 10:20:48 +0100

The Financial Services Authority (FSA) has outlined proposals to ensure all mortgages are carefully assessed to make sure borrowers can afford them.

Movers spend lowest ever average proportion of income on their mortgages

Tue, 13 Jul 2010 10:14:58 +0100

Borrowers moving home in May saw their mortgage interest payments accounting for the lowest proportion of their income in 35 years, according to new data from the Council of Mortgage Lenders.

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.

CML responds to FSA responsible lending proposals

Tue, 13 Jul 2010 10:05:47 +0100

In response to the FSA's consultation paper on responsible lending, the Council of Mortgage Lenders (CML) emphasises that the mortgage industry recognises the inevitability of regulatory change - but points out that there may also be unwelcome side effects for consumers from this process.

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.

Equifax makes it easy for consumers to get their statutory credit report online

Tue, 13 Jul 2010 09:39:13 +0100

The Department for Business Innovation & Skills (BIS) has announced that all three credit reference agencies have made it possible for consumers to access their statutory credit report online. Leading instant online credit information provider, Equifax, has welcomed this news because it has been trialling its own £2 statutory credit report online service since August 2009 with around 1 in 5 of requests for the Statutory Credit Report* now being delivered this way.

FICO Launches Optimisation Starter Kit to Reclaim Card Profitability

Tue, 13 Jul 2010 09:34:00 +0100

MINNEAPOLIS—FICO, the leading provider of analytics and decision management technology, announced today the general availability of a “starter kit” for credit line optimisation (CLO). This starter kit is bundled with the industry-leading FICO® TRIAD® Customer Manager to help card issuers apply analytic precision to credit line increase strategies.

FRSGlobal announces new in-built dashboards to product suite

Thu, 08 Jul 2010 09:33:44 +0100

BRUSSELS - FRSGlobal, the industry-recognised leader in content-rich solutions for unified global regulatory reporting and risk management today announced it will be providing advanced in-built dashboards to graphically represent results calculated by its solutions.

Adeptra advisory round table highlights new era of consultative customer communication

Thu, 08 Jul 2010 09:29:53 +0100

READING, UK and NORWALK, CT, USA – Adeptra, the recognised leader in automated contact and resolution services to companies, announced it has hosted its Summer 2010 Advisory Round Table for UK and European customers.

Bibby Financial Services Canada names Bobby Lall as managing director

Mon, 05 Jul 2010 17:27:11 +0100

Leading global business finance provider Bibby Financial Services has announced that its Canada team has been bolstered with the appointment of Bobby Lall as managing director.

Decision Management Solutions Delivered to South Africa and Middle East

Mon, 05 Jul 2010 17:22:02 +0100

MINNEAPOLIS - FICO, the leading provider of analytics and decision management technology, has announced that it has expanded its relationship with PIC Solutions, its long-standing sales partner in the Middle East and Africa. Under the new agreement, PIC Solutions will continue to market, implement and support innovative FICO solutions for financial services clients while developing new business in the insurance and retail sectors.

Increase in suspected unlawful transactions in Norway

Mon, 05 Jul 2010 17:16:47 +0100

OSLO - The automated monitoring systems used by Norwegian banks are identifying an ever-increasing proportion of attempted financial crime. The number of suspicious transactions automatically identified by the systems has increased by 30% between 2006 and 2009.

If P&C Insurance renews IT outsourcing agreement with Tieto

Mon, 28 Jun 2010 16:24:43 +0100

If P&C Insurance has concluded a new five-year IT services agreement with Tieto as a one-stop supplier. The contract includes operations management services for If's IT systems in the Nordic countries.

Vivacom select Neural Technologies for Fraud Management

Fri, 25 Jun 2010 16:19:54 +0100

Vivacom, Bulgaria’s main telecommunications provider, has selected Neural Technologies as its definitive fraud management solution supplier.

Tieto to update Aktia's web services

Wed, 23 Jun 2010 19:39:59 +0100

Tieto and Aktia Group have signed a co-operation agreement on the development of web services. The Group's entire web portal will be updated in stages. This will provide Aktia's customers with modern and more flexible online banking services.

Aspect Named Performance Management Hot Vendor in 2010 Value Index

Wed, 23 Jun 2010 19:30:20 +0100

CHELMSFORD, Massachusetts - Aspect, a global provider of unified communications and collaboration services and software, announced that Ventana Research, a leading benchmark and research advisory firm, has recognised Aspect as a 'Hot Vendor' in its newly established Value Index for Agent Performance Management.

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.

Euristix provides enhanced risk management for specialist lender, Buy As You View

Mon, 14 Jun 2010 12:01:56 +0100

Financial services consultancy, Euristix, has been contracted by specialist retail and consumer finance provider, Buy As You View (BAYV), to provide enhanced risk analysis and management for the business.

Adeptra continues momentum with appointment of new director, worldwide marketing

Fri, 11 Jun 2010 13:01:26 +0100

READING, UK and NORWALK, CT, USA - Adeptra, the recognised leader in automated two way customer communications, has appointed Bill Brown as Director of Worldwide Product Marketing.

Tieto upgrades its Summit mortgage and savings suite for enhanced efficiency and quality

Thu, 10 Jun 2010 09:44:33 +0100

Tieto has completed an upgrade of the Summit, part of its Mortgage & Savings Suite (MSS) aimed to manage mortgage lenders relationship with their customers from first contact to final payment. The new release (CSR2) delivers major enhancements to customer view, workflows, security and user experience together with changes to the technical architecture.

Mortgage origination redefined with Tieto's Origination Suite

Tue, 08 Jun 2010 12:14:25 +0100

Leading European IT services company Tieto has unveiled the Origination Suite, designed to support sales of financial services such as mortgages, savings, loans, cards, insurance and current accounts. Focussing initially on mortgage origination, this highly configurable solution provides business users with an intuitive, easy-to-use system for the complete process, from initial customer engagement to loan fulfilment.

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.

P&A Receivables European Credit Forum alerts channel to growing threat of fraud scams

Wed, 02 Jun 2010 17:37:43 +0100

P&A Receivables, the leading credit management and debt collection service provider to the IT industry, has highlighted the growing threat that long- and short-firm scams pose to the channel and urged resellers, distributors and vendors to be on high alert when dealing with new customers, especially when potentially lucrative opportunities seem to be in the offing.

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.

Aspect joins newly launched Unified Communications Interoperability Forum

Tue, 25 May 2010 16:08:13 +0100

CHELMSFORD, MASSACHUSETTS - Aspect has announced its membership in the newly formed Unified Communications Interoperability Forum (UCIF), a non-profit alliance of worldwide technology leaders working together to fully realise the potential of unified communications. The UCIF is focused on enabling standards-based, cross-vendor interoperability of unified communications hardware and software across enterprises, service providers and is designed to help global organisations be more productive.&nbs ...

LCH.Clearnet SA becomes FSA authorised Recognised Overseas Clearing House

Tue, 25 May 2010 15:23:00 +0100

LONDON - LCH.Clearnet SA has been granted Recognised Overseas Clearing House (ROCH) status by the UK Financial Services Authority (FSA). Through this ROCH status, LCH.Clearnet SA is able to conduct any regulated activity in the United Kingdom which is carried out for the purpose of the provision of clearing services.

P&A Receivables warns that EC plans could lead to chaos in the IT industry

Sat, 22 May 2010 09:37:34 +0100

P&A Receivables, the leading credit management and debt collection service provider to the IT industry, has slammed the EC’s plans to make small firms exempt from filing accounts as a recipe for chaos in the IT industry.

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.

Survey: Financial institutions regaining confidence, but barriers to risk management remain

Wed, 05 May 2010 19:50:16 +0100

LONDON - Banks and insurers are increasingly optimistic and have come far in strengthening risk management. Yet, regulatory compliance may distract attention from emerging risks while the prevalence of a silo-based approach at several organisations hampers risk management at an enterprise-wide level. So finds a survey of 346 senior risk management executives in the financial services industry conducted in February 2010 by the Economist Intelligence Unit (EIU) for SAS, the leader in business anal ...

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.

Equifax Reports First Quarter 2010 Results

Thu, 29 Apr 2010 13:05:25 +0100

ATLANTA - Equifax Inc. today announced financial results for the quarter ended March 31, 2010. The company reported revenue of $461.3 million in the first quarter of 2010, a 3 percent increase from the first quarter of 2009. Revenue was unchanged from the prior year when adjusted for the favorable effect of foreign exchange rates.

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. ...

ICAP expands global enterprise data distribution via Thomson Reuters

Mon, 26 Apr 2010 11:43:20 +0100

Tokyo / London - ICAP (IAP.L) the world's premier interdealer broker today announced the expansion of ICAP’s global enterprise data distribution via Thomson Reuters to include key Japanese benchmark data from TOTAN-ICAP in Japan.

Coface Increases its 2010 World Growth Forecast

Tue, 13 Apr 2010 16:21:06 +0100

Three industrialised countries return to their pre-crisis rating, but Coface warns of a lag in recovery in the Euro Zone.

Adeptra announces new Analytics platform

Thu, 08 Apr 2010 12:49:58 +0100

READING, UK, NORWALK, CT, USA – Adeptra, the recognised leader in automated customer communications, today announced the release of its analytics platform, Adeptra Analytics, to enable financial organisations to build smarter consumer credit and risk management strategies. The platform, developed in conjunction with a number of Adeptra’s global financial customers, is a market-first with near real-time visibility into the success of credit risk management.

AFS Selects First Data to Bring World-Class Payment Solutions To Regional Client Base

Tue, 06 Apr 2010 17:20:04 +0100

BAHRAIN – Arab Financial Services (AFS), a leading provider of electronic payments and consumer finance outsourcing services in the Middle East, today announced an agreement with First Data Corporation, a global leader in electronic commerce and payment solutions, wherein AFS will leverage First Data’s global processing power to support its regional client base.

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.

Free evening standard to explain benefits of international standard

Tue, 30 Mar 2010 11:20:35 +0100

Standards International, the UK?s leading certification body for ISO 22222, today confirmed that they will be holding a free evening seminar to explain the benefits of being certified to the only international standard for best practice in financial planning.

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.

Banca dItalia, ICBPI and VocaLink to make the respective SEPA-schemes compliant

Tue, 30 Mar 2010 11:15:00 +0100

ITALY, MILAN, ROME - The Italian infrastructure for clearing and settlement of retail payments (Clearing and Settlement Mechanism – CSM) ICBPI/BI-COMP, operated by Banca d’Italia and Istituto Centrale delle Banche Popolari Italiane (ICBPI), and the international payments specialist VocaLink today announced that they are collaborating to establish a link for the exchange of SEPA payments based on the European Automated Clearing House Association (EACHA) interoperability standards. ...

Aspect and Datapoint Ireland Announce Channel Reseller Agreement

Thu, 25 Mar 2010 17:01:59 +0100

STOCKLEY PARK - Aspect, a global provider of unified communications (UC) and collaboration services and software, today announced it has a signed a new channel reseller agreement with Datapoint Ireland to expand its presence in the Irish contact centre market. Datapoint Ireland, an Irish-based systems integrator focused on the contact centre market, will be offering all of Aspect's unified communications applications for the contact centre that are powered by the AspectR Unified IPR and Performa ...

Webroot builds executive team to expand operations across Asia

Wed, 24 Mar 2010 16:11:42 +0100

Bracknell, UK – Webroot, a leading Internet security provider for the consumer, enterprise and SMB markets, today announced it has appointed Masahiro Morimoto to the new role of vice president, Asia-Japan. A 35-year veteran of sales and management for technology companies with operations in Japan and the Asia Pacific region, Morimoto will be responsible for driving all aspects of Webroot’s success in the consumer and enterprise sales channels in Asia.

BNP Paribas announces Global Debt Syndicate changes

Wed, 24 Mar 2010 13:02:33 +0100

London - BNP Paribas Corporate & Investment Banking (‘BNP Paribas’) is pleased to announce strategic changes to the BNP Paribas Global Debt Syndicate platform. These will underpin the bank's commitment to the expansion of its Primary Market capabilities throughout the world across all currencies and instruments.

Aspect Appoints Steve Boakes as Channels and Partners Manager, Northern Europe

Wed, 24 Mar 2010 12:51:31 +0100

STOCKLEY PARK, London - Aspect, a global provider of unified communications (UC) and collaboration services and software, announces the appointment of Steve Boakes as channels and partners manager, Northern Europe.

Aspect Marks Two-Year Anniversary of Global Strategic Alliance and Equity Investment with Microsoft

Tue, 23 Mar 2010 16:57:17 +0100

ORLANDO - VoiceCon - Aspect, a global provider of unified communications (UC) and collaboration services and software, today announced that it has marked the two-year anniversary of its global strategic alliance with Microsoft Corporation.

High Court orders seizure of Zeeman buses

Sun, 21 Mar 2010 23:07:26 +0100

SWAZILAND - The High Court yesterday gave Nedbank permission to seize two Zeeman’s buses over a E894 479 debt. ...

AHA Seeks Changes to IRS Form Detailing Charity Care, Debt Collection Practices

Sun, 21 Mar 2010 23:04:08 +0100

USA - TheAmerican Hospital Association is asking the Internal Revenue Service to modifyits new reporting form for non-profit hospitals – just one year after hospitalsfirst began complying with the new mandate. The trade group says the Schedule Hthat non-profit hospitals must complete in its entirety for the 2009 tax yeardoes not fully reflect all the community benefit provided by multi-hospitalsystems.

Premier Bank loses US$50K in loan scandal

Sun, 21 Mar 2010 22:59:22 +0100

ZIMBABWE - PREMIER Banking Corporation (PBC) lost US$50 000 after a loan was granted using unprocedural means. An internal audit at the financial institution revealed the funds were paid out against an unfunded account number 01203935010202 domiciled at Borrowdale on October 29 2009, yet the account was only funded the next day. ...

FTC Announces Top Consumer Complaints of 2009

Sun, 21 Mar 2010 22:50:58 +0100

USA - The Federal Trade Commission (FTC) has released its report listing the top consumer complaints filed with the agency in 2009. The FTC received more than 1.3 million complaints in 2009. Although identity theft remained the top complaint category for the third year in a row with 278,078 complaints, the number dropped from 314,484 complaints in 2008. ...

ARM Leaders Discuss New Consumer Financial Protection Proposal

Sun, 21 Mar 2010 22:47:34 +0100

A new consumer financial protection measure was introduced in the Senate this week that scraps the idea of a new standalone agency. But ARM officials caution that the industry is still at risk under the proposal. ...

47 suspects arrested in CIB anti-crime operation

Sun, 21 Mar 2010 22:41:45 +0100

TAIPEI, Taiwan -- The Criminal Investigation Bureau (CIB) started its second anti-crime operation this year yesterday morning and had arrested 47 suspects, including five gangs, by noon yesterday. ...

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.

Bank Rakyat turns in best profit in 55 years

Sun, 21 Mar 2010 22:06:14 +0100

KUALA LUMPUR, MALAYSIA - Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) posted its best profit in 55 years as an increase in income across all business segments and favourable cost of funds boosted its profit before tax and zakat to RM1.55bil for the financial year ended Dec 31 (FY09).

Access Bank gives K1.1bn to NAPSSF

Sun, 21 Mar 2010 22:03:43 +0100

ZAMBIA - ACCESS Bank Zambia has given K1.1 billion to the National Association for Peasant and Small Scale Farmers (NAPSSF) as support for farming inputs.

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.

China banks told to take hard look at mortgage risk

Sun, 21 Mar 2010 21:49:25 +0100

BEIJING, CHINA - China's banking watchdog has sent a fresh reminder to banks to be stricter in their assessment of mortgage loans, the latest in a series of moves to slow lending and head off a property market bubble.

Credit Managers Index shows small growth in February

Sun, 21 Mar 2010 21:47:32 +0100

USA - The Credit Managers Index grew slightly in February due to growth in manufacturing and increasing optimism, which counteracted declines in other areas.

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.

ID theft reports down, fraud up, says FTC

Sun, 21 Mar 2010 21:35:44 +0100

ID theft down, fraud up, reports FTC Good news from the Federal Trade Commission: while ID thefts remained the top complaint among consumers nationwide last year, the number of those complaints dropped 5 percent.

Credit managers call for more information to be available

Sun, 21 Mar 2010 21:30:48 +0100

The Federation of European Credit Management Associations (Fecma) has warned that trade credit managers can only take responsible decisions if they have access to the necessary information.

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.

Kenya Co-op Bank to lean on new outlets for growth

Sun, 21 Mar 2010 19:37:11 +0100

NAIROBI, KENYA - Kenya's Co-operative Bank hopes its expansion at home and regionally will lift its performance this year, after an 11 percent increase in pretax profit in 2009, its managing director said on Thursday.

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.

Bank to continue prioritising customers

Sun, 21 Mar 2010 19:06:19 +0100

NAMIBIA - The most valuable lesson that Standard Bank Namibia learnt from the economic recession is that banking should be kept simple and that what affects the rest of the world, also affects Namibia.

Agency Offers HUD-approved Home Buyer Education Class Saturday

Sun, 21 Mar 2010 19:04:08 +0100

Las Vegas, USA - Springboard Nonprofit Consumer Credit Management, a HUD-approved housing counseling agency, offers a free First-Time Homebuyer class where prospective homeowners can learn what to expect in the home buying process.

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.

41st Parameter Names David Walker SVP Worldwide Sales

Fri, 19 Mar 2010 16:20:28 +0100

London, UK. - 41st Parameter Inc., the leading provider of online cross-channel fraud detection and prevention solutions, today announced that David Walker has joined its executive management team as Senior Vice President of Sales.

Aspect Celebrates One Year Phone-Free with Microsoft Office Communications Server

Fri, 19 Mar 2010 15:50:27 +0100

CHELMSFORD, Massachusetts - Aspect, a global provider of unified communications (UC) and collaboration services and software, today announced its one-year anniversary of operating completely phone-free following its global implementation of Microsoft(R) Office Communications Server 2007 R2.

ESCP Europe UK director appointed to Banco Del Sud Italia committee

Thu, 18 Mar 2010 12:58:50 +0100

Professor Davide Sola, ESCP Europe Business School’s UK Director, has been named as a member of the prestigious Banca Del Sud Italia committee by the Italian government.

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.

Eurofinas Announces Improvement in European Consumer Credit Market Figures for Q4 2009

Wed, 17 Mar 2010 17:19:08 +0100

BRUSSELS – Eurofinas, the voice of specialised consumer credit providers at European level, has recently launched quarterly surveys of its members’ new lending business to track developments on the European consumer credit markets.

Eurofinas Announces Improvement in European Consumer Credit Market Figures for Q4 2009

Tue, 16 Mar 2010 12:34:37 +0100

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.

Audit thresholds and abridged accounts

Wed, 03 Mar 2010 23:38:38 +0100

FECMA, the Federation of European Credit Management Associations, has issued the following press release regarding the negative impact of Abridged Accounts and Audit Thresholds in view of the current economic and financial turmoil.

OECD calls on businesses to step up their fight against bribery

Wed, 03 Mar 2010 15:20:18 +0100

Companies should put in place strict internal controls and establish ethics and compliance programmes as part of a strategy to combat bribery in international business deals, according to a new guidance agreed by the 38 countries that are party to the OECD Anti-Bribery Convention.

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.

New FICO Service Enables Banks to Fine-Tune Risk Strategies Based on Economic Conditions

Wed, 24 Feb 2010 12:02:54 +0100

MINNEAPOLIS – FICO, the leading provider of analytics and decision management technology, today announced the immediate global availability of the FICO Economic Impact Service, a patent-pending analytic service that helps lenders adjust their use of risk scores based on economic projections and lender-defined scenarios.

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:

China's economic policies under fire from world deciders

Fri, 19 Feb 2010 16:27:53 +0100

BEIJING, CHINA— China's banking watchdog said Wednesday it had called on the nation's banks to ensure "balanced and steady" credit growth, amid concerns over the risk of bad loans following rampant lending in 2009.

Shares of U.S. education cos fall on regulation concerns

Fri, 19 Feb 2010 16:17:05 +0100

USA - Shares of several U.S. for-profit education providers fell Thursday, a day after the U.S. Department of Education released a draft report with proposed regulatory changes that could affect the companies.

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.

Worries over economy as credit lines dry up

Fri, 19 Feb 2010 16:11:42 +0100

NIGERIA - There seems to be no respite yet for the prostrate real sector of the Nigerian economy as fresh belt-tightening measures adopted by cash-strapped banks are taking a heavy toll on its operators.

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.

FNB loan advances register 13% growth despite fall in profits

Fri, 19 Feb 2010 12:03:34 +0100

BOTSWANA - Despite the decline in profits before tax, First National Bank of Botswana (FNBB) has reported a strong growth in the balance sheet due to the retail expansion and financing of property.

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.

SMMEs offer opportunities, challenges

Fri, 19 Feb 2010 11:58:55 +0100

GABORONE, BOTSWANA - Small, Medium and Macro Enterprises (SMMEs) play an important role in the development of the economy as well as providing employment, finance and development planning minister, Mr Kenneth Matambo, has said.

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.

Reserve Bank of India awards Experian first full licence to operate Indian credit bureau

Thu, 18 Feb 2010 17:06:51 +0100

UK 18 February 2010 - Experian®, the global information services company, today announced that its Indian Joint Venture is the first company to be awarded a full licence by the Reserve Bank of India (RBI) to operate a credit bureau in India under new regulations.

Norwegian women take control in internet banking

Fri, 12 Feb 2010 12:13:13 +0100

OSLO - The proportion of Norwegian women who use internet banking is growing strongly. Just a few years ago, women made up only one in four of internet banking users, but now almost half are female. More young women now use internet banking than young men. This information comes from EDB Business Partner's annual statistics for 2009, which identify trends in the behaviour of banking customers and the use of different payment channels.

Tieto Corporation Interim Report

Wed, 10 Feb 2010 17:20:48 +0100

Tieto's interim report 4/2009 (January–December) and financial statements bulletin 2009 showed that the profitability improvement continued in the fourth quarter.

EDB supplies the budgeting model for the Norwegian national budget

Wed, 10 Feb 2010 16:31:32 +0100

OSLO - The Norwegian Government Administration Services agency (GAS) and EDB have entered into an agreement for the development and operation of Budmod, which is the model used to simplify the preparation of the Norwegian national budget. The agreement runs for one year, with an option to extend through to 2014.

Experian launches Hitwise Internet measurement service for France

Tue, 09 Feb 2010 15:35:55 +0100

LONDON - Experian, the global information services company, has further expanded its Marketing Services portfolio in Europe with the launch of Experian Hitwise in France. Experian’s Internet measurement service will help domestic and international marketers operating in France to improve their online marketing, content development, affiliate strategies and search tactics.

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.

Mill Valley finance consultant jailed in $2 million theft inquiry

Mon, 08 Feb 2010 12:42:15 +0100

USA - A Mill Valley credit and bankruptcy consultant was arrested Tuesday on charges he stole nearly $2 million from an international corporation in Silicon Valley, authorities said.

SBI cracks as dismal earnings weigh

Mon, 08 Feb 2010 12:40:27 +0100

INDIA - State Bank of India fell 3.91% to Rs 2011.50 at 9:47 IST after net profit inched up 0.03% to Rs 2479.05 crore on a 4.09% rise in operating income to Rs 17779.69 crore in Q3 December 2009 over Q3 December 2008.

China tells banks to ensure 'steady' lending growth: govt

Mon, 08 Feb 2010 12:38:55 +0100

BEIJING, CHINA — China's banking watchdog said Wednesday it had called on the nation's banks to ensure "balanced and steady" credit growth, amid concerns over the risk of bad loans following rampant lending in 2009.

Losses to curb U.S. Century Bank's growth

Mon, 08 Feb 2010 12:33:40 +0100

USA - Since getting a $50 million capital infusion of federal TARP funds in August, US Century Bank has gone through 88 percent of that amount.

Fraudulent behaviour

Mon, 08 Feb 2010 12:30:23 +0100

MALTA - We’ve all heard the stories. Someone sets up a business or company, entering into financial arrangements with third parties who are never paid. When the business fails, they declare bankruptcy leaving a trial of unpaid debts behind them… only to set up a new business and do it all over again. Josanne Cassar looks into the financial and legal issues of commercial fraud as well as the psychological profile of a typical fraudster.

UT Financial Services to help change face of banking

Mon, 08 Feb 2010 12:26:53 +0100

GHANA - The UT Financial Services, is poised to bring innovations into Ghana's banking sector.

China bank regulator urges to check credit growth

Mon, 08 Feb 2010 12:25:19 +0100

BEIJING, CHINA - China’s banking regulator, China Banking Regulatory Commission urged country’s banks to curb credit growth this year on concerns that the fast growth may lead to an asset bubble.

Credit managers cheer new economic data

Mon, 08 Feb 2010 12:19:42 +0100

USA - Manufacturers are starting to replenish their inventories and that’s a clear signal the Great Recession is ending, said the National Association of Credit Management this week.

Credit Managers' Index Economic Report Improves for January 2010

Mon, 08 Feb 2010 12:14:16 +0100

COLUMBIA, USA — The latest data is starting to turn in a decidedly positive direction; GDP numbers are the best in over a year and a half, suggesting that the recession is in clear retreat. After a mild recovery in the third quarter, numbers jumped 5.8% in the fourth. The bulk of this growth is attributed to manufacturers starting to replenish inventories, mostly since the beginning of December.

Falcon Credit Management Offers a New and Affordable Option in Loan Modification

Mon, 08 Feb 2010 11:58:49 +0100

LAS VEGAS, USA - In an effort to provide a more affordable option to homeowners facing financial difficulty, Falcon Credit Management has developed a ground breaking new product that complements their industry-leading Loan Modification service.

SunGard Acquires Inmatrix

Mon, 08 Feb 2010 11:55:35 +0100

AUSTRALIA - SunGard today announced that it has acquired Inmatrix, a leading provider of credit risk analysis and business forecasting solutions. Inmatrix, based in Melbourne, Australia, offers two credit management solutions: Optimist, which helps evaluate the credit worthiness of borrowers; and Portfolio Strategist, which helps banks develop a portfolio view of their exposure.

LCH.Clearnet and SIX x-clear publish interoperability summary

Mon, 08 Feb 2010 11:20:25 +0100

LONDON - LCH.Clearnet Limited (LCH.Clearnet), the leading independent clearing house, and SIX x-clear Ltd, the Central Counterparty (CCP) and licensed Swiss bank, have today published a summary link agreement which provides the framework for successful interoperability across Europe. The existing interoperability arrangement between the clearing houses which serves the London Stock Exchange (LSE) and SIX Swiss Exchange uses this link agreement.

Loan sharks prey on cash-strapped foreign workers

Thu, 04 Feb 2010 23:46:09 +0100

ISRAEL - On the fifth floor of the Tel Aviv Central Bus Station, at metal tables designed for people to sit down with their food, a great deal of business gets done - some of it openly, some less so.

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.

First Data Selected to Manage Egyptian Benefits Card Programme

Tue, 02 Feb 2010 10:38:39 +0100

CAIRO – First Data Corporation, a global leader in electronic commerce and payment processing, has announced a new, three-year agreement with the Ministry of State for Administrative Development of the Republic of Egypt (MSAD), for the extension of the Egyptian government’s family card project, which covers subsidised food and Social Solidarity pension services in nine governorates/provinces.

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.

Fraudulent behaviour

Mon, 01 Feb 2010 16:17:56 +0100

The Malta Independent on Sunday recently published the following article, entitled 'Fraudulent behaviour'.

FRSGlobal enters 21st year trading - after another successful 12 months business

Thu, 28 Jan 2010 18:06:25 +0100

BRUSSELS - FRSGlobal, the only provider of risk and regulatory reporting solutions with coverage for 40+ countries on a unified platform, today announced that it signed 36 contracts in Q4 2009, bringing the total number of deals won last year to 94.

Nexway Games to supply Tiscali's Game Channel

Thu, 28 Jan 2010 17:46:44 +0100

Tiscali, a leading Italian telecoms provider and Nexway Games, a major player in European e-commerce, have joined together to launch the new Games channel on the Italian portal. In this way, Tiscali will be able to offer its users all of the “core “and ”casual” games for PCs from Nexway Games’ catalogue on http://giochi.tiscali.it/.

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.

Securing growth and tackling inequality remain key challenge as Chile emerges from recession

Wed, 27 Jan 2010 16:01:53 +0100

Chile, now on the path to becoming the OECD’s newest member, is emerging from recession relatively fast on the back of government stimulus measures and a rebound in copper export prices, says a new OECD report.

Riyad Bank and First Data Launch Hassad Rewards Programme

Wed, 27 Jan 2010 15:39:32 +0100

LONDON – First Data Corporation, a global leader in electronic commerce and payments processing services, and Riyad Bank, a leading financial institution in Saudi Arabia, today announced the successful implementation of a new credit card reward programme for Riyad Bank customers.

Atradius reinforces information exchange as way out of recession

Tue, 26 Jan 2010 17:52:09 +0100

UK - Leading trade credit insurer Atradius has reinforced the need for a clear exchange of information between stakeholders to strengthen the UK’s business economy and expedite recovery.

Coface affirms Romania at 'B'

Fri, 22 Jan 2010 17:02:50 +0100

ROMANIA - French credit rating agency Coface has affirmed Romania’s credit rating to "B", non-investment grade but should the economy return to growth, the agency could raise its country rating outlook to positive.

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. ...

Coface sees the end of the global credit crisis

Fri, 22 Jan 2010 09:37:15 +0100

During its 14th Country Risk Conference, Coface announces some 20 upgrades in country ratings. The credit crisis, which will have lasted two years - as predicted at the conference held in January 2008 - has been of an unprecedented magnitude in the past 60 years.

Leumi Card sued over fees on canceled transactions

Thu, 21 Jan 2010 17:11:18 +0100

ISRAEL - A NIS 75 million class action motion was filed against Leumi Card in the Tel Aviv District Court yesterday. The credit card company is accused of illegally charging clearing fees for canceled transactions, but it argues that its charges are legitimate.

Proposed VISA/Heartland Data Breach Settlement May Pay Banks and Credit Unions Pennies on Dollar

Wed, 20 Jan 2010 18:20:15 +0100

HOUSTON, USA - Banks and credit unions that issued VISA payment cards compromised by the Heartland Payment Systems data breach, the largest data breach in history, should carefully review the proposed settlement between Heartland and VISA.

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.

Waupun bank faces pressure from feds

Wed, 20 Jan 2010 17:53:29 +0100

WAUPUN, USA — The president of a local bank being targeted by federal regulators says his financial institution has a sound capital base and remains strong.

Obama Pressing for Protections Against Lenders

Wed, 20 Jan 2010 17:50:12 +0100

USA - President Obama on Tuesday stepped into the middle of a fierce lobbying battle by reinforcing his support for an independent agency to protect consumers against lending abuses that contributed to the financial crisis. The president’s move also signaled a tougher line and a more direct role as Congress weighs an overhaul of banking regulation, The New York Times’s Jackie Calmes and Sewell Chan write.

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.

Rural Banks opt to support MASLOC disburse micro credit

Wed, 20 Jan 2010 17:44:56 +0100

GHANA - Rural and community banks want to be directly engaged in the disbursement of government loans to small and medium scale businesses.

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.

US mortgage aid rises, fails to cut foreclosures

Sun, 17 Jan 2010 12:22:42 +0100

WASHINGTON, USA - The U.S. Treasury on Friday pledged to improve its housing rescue program after new data showed a slightly greater percentage of borrowers with delinquent mortgages had received help with loans through the end of December.

Regulators tell two Wisconsin banks to improve

Sun, 17 Jan 2010 12:20:44 +0100

USA - Two more Wisconsin banks are under pressure from regulators to improve their credit management and loan portfolios.

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.

JPMorgan reports buoyant 4Q09 results

Fri, 15 Jan 2010 15:23:34 +0100

USA - JPMorgan Chase (Aa3n/A+n/AA-s) reported 4Q09 net income of USD 3.3bn, or USD 0.74 per share, compared with 4Q08 net income of USD 702mn, or USD 0.06 per share, ahead of market expectations. For the FY09, net income was USD 11.7bn, or USD 2.26 per share, up from USD 5.6bn, or USD 1.35 per share, in 2008.

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.

Credit index finds "mild progress" in economy

Wed, 13 Jan 2010 17:40:19 +0100

USA - Credit managers are a bit more optimistic going into 2010, but businesses in the Raleigh-Durham area can still expect to have a tough time getting credit, at least until the current surge in bankruptcies subsides.

HSBC loans get personal

Wed, 13 Jan 2010 17:36:13 +0100

THAILAND - HSBC Thailand plans to expand its personal loans aggressively with a target to double the loan portfolio in the next two years, according to Wichit Phayuhanaveechai, head of personal financial services.

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.

Regulators seek changes at First National Bank of the Rockies

Wed, 13 Jan 2010 16:48:56 +0100

STEAMBOAT SPRINGS, USA — The First National Bank of the Rockies is under extra federal oversight after bank regulators found several reasons to criticize the bank’s past lending practices.

Vietnam banks to tighten consumer lending in 2010

Wed, 13 Jan 2010 16:43:19 +0100

Vietnam’s commercial banks have become more cautious with consumer lending this year as the country’s credit growth target has been set lower than 2009.

Citi holds money management workshop for cardholders

Wed, 13 Jan 2010 16:38:55 +0100

MANILA, MALAYSIA - Staying true to its commitment to promote responsible credit management among cardholders, Citi, the country’s largest credit card issuer, recently conducted “Peso to the Max: A Workshop on Money Management for the Modern Pinoy,” at the Ascott Makati.

FINCAD and SAS Provide Banks with Enterprise Risk Management and Independent Valuations

Tue, 12 Jan 2010 15:18:26 +0100

FINCAD and SAS today announced the two companies have formalized an alliance to provide a solution for banks to address their enterprise risk management and independent valuation needs.

FINCAD and SAS to Provide Banks with Enterprise Risk Management and Independent Valuations

Tue, 12 Jan 2010 15:12:27 +0100

VANCOUVER, BC and CARY, NC – FINCAD®, the trusted provider of derivatives analytics to leading global banks, and SAS, the leader in business analytics software and services, today announced the two companies have formalized an alliance to provide a solution for banks to address their enterprise risk management and independent valuation needs.

Regulators Reinforce Basel Committee Reform Package

Tue, 12 Jan 2010 09:56:58 +0100

The Group of Central Bank Governors and Heads of Supervision ("The Group"), the oversight body of the Basel Committee on Banking Supervision (BCBS www.bis.org) met on 10 January at the Bank for International Settlements.

Joint Forum Review of International Financial Regulation

Mon, 11 Jan 2010 12:11:19 +0100

The Joint Forum just published its 132-page report "Review of the Differentiated Nature and Scope of Financial Regulation - Key Issues and Recommendations". The Joint Forum consists of the Basel Committee on Banking Supervision (BCBS), the International Organization of Securities Commissions (IOSCO), and the International Association of Insurance Supervisors (IAIS).

OECD unemployment rate stable at 8.8% in November 2009

Mon, 11 Jan 2010 11:40:32 +0100

The unemployment rate for the OECD area was 8.8% in November 2009, the same as the previous month and 2.1 percentage points higher than a year earlier.

Macey-Dare returns to Marsh to lead International Political Risk and Structured Credit business

Mon, 11 Jan 2010 11:37:35 +0100

Marsh, the world’s leading insurance broker and risk adviser, has appointed Julian Macey-Dare as International Leader of its Political Risk and Structured Credit Practice.

Credit View Banco Sabadell Cédulas Hipotecarias

Mon, 11 Jan 2010 10:26:16 +0100

SPAIN - Banco de Sabadell (Sabadell), headquartered in the capital of the Spanish autonomous community Catalonia Barcelona, is Spain's fourth largest banking group (behind Banco Santander, BBVA, and Banco Popular) and seventh financial institution (including the savings banks La Caixa, Caja Madrid, and Bancaja) with total assets of EUR 82bn as of 3Q09.

OECD composite leading indicators continue to signal a recovery

Fri, 08 Jan 2010 11:36:16 +0100

OECD composite leading indicators (CLIs) for November 2009 provide stronger signals of recovery than in last month’s assessment.

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.

Two new directors join Board of Tata Consultancy Services

Tue, 05 Jan 2010 11:28:35 +0100

MUMBAI, INDIA - The Board of Directors of Tata Consultancy Services (TCS), a leading IT services, business solutions and outsourcing firm, announced that it has appointed Vijay Kelkar, former Finance Secretary to the Government of India and Ishaat Hussain, Finance Director of Tata Sons to the Board of Directors of the Company with effect from January 5, 2010.

Firms prepare to restock as confidence in economic outlook grows

Tue, 05 Jan 2010 01:00:00 +0100

AUSTRALIA - Australian businesses are planning to start the New Year with a significant restocking of inventories as expectations of a strengthening economy fuel confidence about New Year sales and profits. In another positive sign for the economy firms are also reporting improved expectations for capital investment.

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.

SCB to lend B100bn more amid optimism next year

Mon, 04 Jan 2010 13:04:19 +0100

THAILAND - Siam Commercial Bank aims to expand its loan book by 6% or 100 billion baht next year based on growing optimism about the overall economy, says president Kannikar Chalitaporn.

Most Irish firms cut payroll by 11% - survey

Mon, 04 Jan 2010 13:02:32 +0100

IRELAND - Seventy per cent of companies in Ireland reduced payroll by an average of 11 per cent in 2009, but the vast majority did not cut salaries, a new survey by Mercer has found.

Bulgarian economy hamstrung by inter-company debt - employer association

Mon, 04 Jan 2010 13:00:21 +0100

BULGARIA - The combined debt of Bulgarian companies, outside the financial sector, is expected to rise by 30 per cent in 2009, compared to the previous year, a trend that is expected to continue for a further two years, according to Bozhidar Danev, chairperson of the Bulgarian Industrial Association (BIA).

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. ...

Simar Shipping Files Complaint Against Russian Crab Importer, Global Fishing, Inc.

Mon, 04 Jan 2010 12:51:39 +0100

SEATTLE, WASH. USA - Simar Shipping Limited just filed a USD $5.8 million complaint against Global Fishing, Inc., for Global’s alleged breach of a maritime contract to pay for Russian crab. Global Fishing, Inc., was once the largest importer of Russian crab into the United States, but that changed after the arrest of its President in Russia.

Coffee Farmers to Benefit From BRD's FRW4 Billion Loan

Mon, 04 Jan 2010 12:46:50 +0100

KIGALI, RWANDA — Coffee farmers in Rwanda will continue to receive financial support from Rwanda Development Bank (BRD) in form of loans with Rwf4billion available for farmers next season.

Christmas crackdown on debts

Mon, 04 Jan 2010 12:44:31 +0100

PERTH, AUSTRALIA - Businesses have launched a Christmas crackdown on late bill payers, hiring squads of debt collectors to recoup cash before it can be spent on celebrations.

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.

CL Verify Credit Solutions Reports Record Demand for Near-Prime Consumer Information

Mon, 04 Jan 2010 12:36:38 +0100

TAMPA, Fla., USA - CL Verify Credit Solutions(TM) LLC, the industry leading real time credit bureau, today announced it anticipates issuing more than 50 million consumer reports to subscribing lenders and other qualified clients by the end of 2009. When compared with the volume of reports issued in prior years, this record volume represents an unprecedented increase in the rate of demand for the Company's unique, proprietary credit information.

Yes, I took the money

Mon, 04 Jan 2010 12:34:26 +0100

TANZANIA - AT least one senior cabinet minister has admitted to being amongst high-profile debtors linked to the now infamous Commodity Import Support (CIS) scheme.

FCAC Encourages Consumers to Become Familiar With New Credit Card Regulations

Mon, 04 Jan 2010 12:32:28 +0100

OTTAWA, ONTARIO, Canada - New regulations on credit cards and other financial products, such as fixed- and variable-rate loans and lines of credit, will come into force on January 1, 2010. This means a number of important changes - particularly better communication of information - for consumers of financial products and services offered by federally regulated financial institutions.

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.

Aiful Wins Creditors Approval For Proposed Business Revitalization - Update

Mon, 04 Jan 2010 12:20:08 +0100

JAPAN - Consumer lender Aiful Corp. said Thursday that it got approval from its creditors for the proposed "Business Revitalization Plan" and has modified repayment schedules for its loan obligations. Aiful also plans to reduce its overall number of permanent employees, with a target range of 13 billion yen personnel costs reduction by the fiscal ending March 31, 2011.

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.

NBP says Shujaats textile mills defaulted on Rs300m loan

Mon, 04 Jan 2010 12:13:03 +0100

ISLAMABAD: The Chaudhrys of Gujrat seem to be getting into a thick bank loan default soup involving Rs 300 million as they have been accused of ‘stealing’ the pledged stocks for which the creditor bank is considering the option of lodging a criminal FIR against their textile mills and all its directors.

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.

Local lawyer faces suspension for lying

Mon, 04 Jan 2010 12:03:02 +0100

ST. PAUL — The Minnesota Supreme Court also will hear a second case next month involving a local person.

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).

Armada in bankruptcy protection

Mon, 04 Jan 2010 12:00:10 +0100

Armada Shipping SA says it is protected from enforcement measures by creditors after it filed for bankruptcy. According to reports the Swiss-based dry-bulk company took the action after a deal to buy the company fell through.

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.

Landesbanks' Christmas Newsletter

Wed, 23 Dec 2009 11:03:42 +0100

BayernLB released an ad-hoc statement, saying that the European Commission, in line with earlier decisions, might disallow the bank to dissolve reserves in order to avoid participation of deep subs in ongoing losses.

Banco BPI announces results

Wed, 23 Dec 2009 10:19:30 +0100

Lisbon headquartered Banco BPI is the 4th major Portuguese private financial group (fifth banking group including Portugal's largest lender, the 100% state-owned Caixa Geral de Depositos). It has total assets of EUR 52bn as of 3Q09 and a market capitalization of EUR 1.9bn (22/12/09). It has a market share in deposits and loan of nearly 10%, and around 20% in Asset Management.

Capital support from shareholder will help Coface to reinforce its commitment to customers

Wed, 23 Dec 2009 09:19:36 +0100

Capital support from shareholders will help Coface to reinforce its commitment to its customers in the recovery phase which is on the way.

RZB reports preliminary FY09 results

Tue, 22 Dec 2009 17:58:33 +0100

Raiffeisen Zentralbank Österreich (RZB) said that its FY09 pre-tax profit will be ca. EUR 600mn, unchanged from last year. Operating profit is expected to be ca. EUR 2.4bn, -14% yoy. Preliminary ROE is 6% (vs. 7.3%), and the cost/income-ratio 54% (52.8%). This means that RZB incurred a pre-tax loss of ca. EUR 200mn in 4Q09.

Nigeria: N166 Million Debt - Court Threatens to Rule in Okiro's Absence

Mon, 21 Dec 2009 18:34:13 +0100

An Abuja Federal High Court Friday threatened to make judgement in the absence of former Inspector General of Police (IGP) Mike Okiro if he fails to respond to summons issued on him in respect of N166 million debts owed the liquidated Lead Bank Limited.

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.

Credit Managers Index shows positive trends

Wed, 16 Dec 2009 18:53:26 +0100

November marks the second month in a row that the Credit Managers’ Index (CMI) crested 50 and that mirrors the trends identified in the Purchasing Managers’ Index. The growth in credit availability remains a major concern in the business community as a whole and there are still some strong headwinds as far as the financial sector is concerned, but there is some renewed activity going into the Christmas season and that is construed as a good sign. ...

Aon Risk Services Signs Definitive Agreement to Acquire FCC Global Insurance Services

Tue, 15 Dec 2009 14:52:08 +0100

Aon Risk Services (ARS), the risk management and insurance brokerage business of Aon Corporation, today announced that it will acquire FCC Global Insurance Services, the in-house captive brokerage subsidiary of FCC. FCC Global Insurance Services is a subsidiary of Fomento De Construcciones Y Contratas, S.A.

Comment from EDB Business Partner on the changing focus in 2010 for banks and financial institutions

Tue, 15 Dec 2009 09:26:33 +0100

According to Mikael Krohn, VP at EDB Business Partner, the last year has been an incredibly volatile time in the world of risk management, however, it has also been the year when risk management was thrust firmly onto the agenda and became of crucial importance for global banks and commercial lenders.

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.

JPMorgan Chase Ends Credit Card Arbitration

Mon, 14 Dec 2009 12:08:17 +0100

As part of a settlement agreement, JPMorgan Chase & Co. has become the second major credit card issuer to abandon mandatory arbitration, dealing another blow to the once-common industry practice.

Treasury gets tougher on home loan relief

Mon, 14 Dec 2009 11:11:53 +0100

USA - The Obama administration threatened on Monday to punish mortgage lenders with fines unless they speed up efforts to give hard-pressed homeowners a permanent break on monthly payments.

Access to credit, key to development - CB Governor, Ceylon

Mon, 14 Dec 2009 11:07:45 +0100

Central Bank Governor, Ajith Nivard Cabraal said that access to credit is a key factor for development. Banks should be set up in the Northern province as soon as possible and credit provided to the public to continue their regular activities. There is tremendous growth in the banking sector and the interest shown by the banks to set up branches in the Northern province is also commendable.

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.

Goldman Sachs lowers China annual GDP growth prediction

Mon, 14 Dec 2009 10:47:13 +0100

Goldman Sachs reduced its forecast for China's gross domestic product (GDP) growth for this and next year, according to a research report.

State Bank of Mysore bucks the trend as board approves rights issue

Mon, 14 Dec 2009 10:43:11 +0100

State Bank of Mysore rose 1.14% to Rs 716.05 at 14:22 IST after the bank's board approved a draft letter of offer for a proposed rights issue.

Scramble to acquire rescued banks intensifies

Mon, 14 Dec 2009 10:29:36 +0100

Indications emerged on Tuesday that the Central Bank of Nigeria might be getting close to sealing deals with successful individuals and groups that had expressed interests in acquiring the rescued banks.

TransUnion Forecasts 3% Drop in Mortgage Delinquencies Next Year

Mon, 14 Dec 2009 10:27:29 +0100

American mortgage delinquencies have skyrocketed for three years straight, but we can expect to see that trend reverse in 2010, according to the Chicago-based credit management company TransUnion.

More on-time credit card payments expected in 2010 - December 09

Mon, 14 Dec 2009 10:22:31 +0100

American consumers are expected to further improve their credit management in 2010, but unemployment will hamper the efforts of many Americans to make their credit card payments on time.

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.

Aon Trade Credit comment on government's closure of top-up credit insurance to new applications

Thu, 10 Dec 2009 11:15:34 +0100

UK - Susan Ross, director of Aon Trade Credit - the UK's largest credit insurance broker - and chair of the British Exporters' Association, comments on the Government's announcement that it is closing the top-up credit insurance to new applications.

Wall Street and the City reject reform but accept blame for crisis

Thu, 10 Dec 2009 09:40:35 +0100

Early findings of a global risk management survey which asks finance professionals what they think caused the banking crisis and what should be done about it, reveals that the City and Wall Street will not accept any measures to reform despite admitting blame for the financial crisis.

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. ...

Bursa Malaysia Selects Thomson Reuters for Data Distribution Platform

Wed, 09 Dec 2009 19:01:27 +0100

MALAYSIA - Thomson Reuters today announced it has been selected by Bursa Malaysia to deliver a new data distribution platform to support their growing trading business.

ISO Announces Launch of Underwriting Information Resource in Israel

Wed, 09 Dec 2009 18:55:15 +0100

ISRAEL - ClaimSearch® Israel announces the launch of a new underwriting system that will enable companies, for the first time, to verify information supplied by an applicant.

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.

Survey Uncovers Business Leaders' Predictions for Economic Recovery;

Fri, 04 Dec 2009 15:31:10 +0100

This week, international trade credit insurer Atradius, based in Hunt Valley, MD, released its Global Economic Crisis Survey based on more than 3,500 interviews with executives and senior managers from companies in North America, Europe, Asia and Australia. The survey was designed to learn business leaders' views on current economic indicators, including:

CGI Announces Launch of CGI Enterprise Gateway®

Fri, 04 Dec 2009 10:08:01 +0100

CGI Group Inc., a leading provider of information technology and business process services, has announced the launch of CGI Enterprise Gateway®, a managed service that supports IT interfaces to third party services, helping clients significantly reduce overall costs and achieve greater efficiencies.

New Equifax Solution Helps Businesses Reduce Losses, Improve Profitability

Thu, 03 Dec 2009 09:27:27 +0100

USA - Equifax Inc. has announced the launch of a new solution that gives companies increased control over the risk management of business customers as well as suppliers.

Princeton Financial® Systems launches MIG21 Data Manager

Wed, 02 Dec 2009 10:29:28 +0100

USA - Princeton Financial Systems® (PFS), a leading provider of investment accounting, investment compliance, data management, performance measurement and reporting solutions to the global investment industry, today announced the availability of MIG21 Data Manager.

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.

As Cyber Monday looms, Adeptra surveys UK and US attitudes to suspected fraud

Fri, 27 Nov 2009 16:09:15 +0100

In the run up to Cyber Monday, an Adeptra survey of 400 British and American consumers, reveals that American consumers take greater steps than the British to avoid becoming a victim of financial fraud, checking their bank and card statements more frequently.

First Data Research Reveals Opportunities for Financial Institutions in Prepaid Cards Market

Thu, 26 Nov 2009 10:59:01 +0100

In a new study of consumer attitudes believed to be unique in its scope, First Data, a global technology and payments processing leader, offers insight into the European prepaid market. Study findings are expected to help banks build more successful business cases for prepaid products.

15 firms select FRSGlobal regulatory reporting solution for new French Regulation SURFI

Thu, 26 Nov 2009 10:23:38 +0100

FRANCE - FRSGlobal, the only global provider of risk and regulatory reporting solutions with coverage for over 40 countries on a unified platform, today announced that just over one year after the French Commission announced its Système Unifié de Reporting Financier (SURFI) project, 15 firms have selected FRSGlobal’s regulatory reporting solution in order to prepare for the new regulation. These firms will be able to use the solution when the French Commission opens up its testin ...

Trade Bank of Iraq joins Thomson Reuters world-class global foreign exchange trading service

Thu, 26 Nov 2009 10:22:12 +0100

Thomson Reuters today announced the Trade Bank of Iraq (TBI) will be the first bank in Iraq to connect to the international foreign exchange (FX) community using Thomson Reuters Dealing trading service. This deal reinforces Thomson Reuters strong position in the FX dealing space and further expands its global dealing community.

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.

HML Wins Global Excellence Award for BPM Project

Wed, 25 Nov 2009 23:29:34 +0100

HML, the financial outsourcing provider, has won the Silver Award for Europe in the 2009 Global Awards for Excellence in Business Process Management (BPM) and Workflow.

UK companies look to future beyond recession as confidence continues to rise

Mon, 23 Nov 2009 17:22:24 +0100

Confidence among business professionals has improved in the last three months according to the latest Institute of Chartered Accountants' (ICAEW) UK Business Confidence Monitor (BCM).

Recession is the catalyst for a decade of business change - CBI

Mon, 23 Nov 2009 17:12:23 +0100

UK - The recession has raised concerns about commercial models, supply chains and finance that will reshape business behaviour well into the next decade, the CBI said today.

Experian forms Credit Information Company Joint Venture in India

Mon, 23 Nov 2009 17:01:35 +0100

INDIA - Experian®, the global information services company, today announced the creation of Experian Credit Information Company of India Private Limited.

Customer-related and credit risks top agendas for Europes leading firms

Mon, 23 Nov 2009 15:08:48 +0100

EUROPE - New research by Marsh, the world’s leading insurance broker and risk adviser, reveals that senior executives in Europe’s leading organisations are most concerned about customer-related risks and access to credit, as they plan their recovery from the global economic downturn.

EDB - Now Norwegians can change bank in just a few seconds

Fri, 20 Nov 2009 09:48:38 +0100

Norwegians can now change bank and set up new bank accounts over the Internet by using BankID and a code calculator for electronic authorisation. This was previously a very time-consuming manual process that often took many days. By using a new software solution, banks can give new customers full access to Internet banking in just a few seconds.

New ISO standard for effective management of risk

Wed, 18 Nov 2009 17:31:10 +0100

A new International Standard, ISO 31000:2009, Risk management – Principles and guidelines, will help organizations of all types and sizes to manage risk effectively.

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.

20% of Americans apply for loan workouts

Mon, 16 Nov 2009 16:19:33 +0100

About 20 percent of struggling U.S. homeowners eligible for loan workouts have entered into a trial modification, but it is unclear how many of them will be able to keep the lower payments permanently, the Treasury Department said on Tuesday.

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.

CIT Group Files Bankruptcy, Seeks to Reduce Debt

Mon, 16 Nov 2009 13:18:06 +0100

CIT Group Inc., the 101-year-old commercial lender that saw its funding dry up in the credit crunch, filed for bankruptcy in an effort to cut $10 billion in debt following a failed debt exchange and U.S. taxpayer bailout.

Fidelity Bank Signs on Creditquest Risk Software

Mon, 16 Nov 2009 12:54:51 +0100

NIGERIA - In its drive to instal optimum-functionality and cutting edge risk management systems, Fidelity Bank Plc has acquired the globally recognised and respected Credit Risk and Portfolio Management Software known as Creditquest.

City Bank and American Express form strategic alliance in Bangladesh

Mon, 16 Nov 2009 12:53:02 +0100

City Bank and American Express have announced the formation of a strategic alliance and unveiled American Express Gold Credit Card and American Express Credit Card for Bangladeshi consumers.

Standard & Poor's to Broaden Presence in China

Mon, 16 Nov 2009 12:50:44 +0100

CHINA - The McGraw-Hill Companies, today announced that Standard & Poor’s (S&P) is planning to establish a Greater China headquarters in Shanghai, underscoring the company’s commitment to supporting China’s growing capital markets, as well as Shanghai’s emergence as a leading global financial center.

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.

Atlantic Fund Administration monitors US 1940 Act Compliance with MIG21 and LawCards

Thu, 12 Nov 2009 10:47:07 +0100

Princeton Financial® Systems (PFS), leading provider of accounting, compliance, data management and reporting solutions for the global investment industry, is pleased to announce that Atlantic Fund Administration, LLC (Atlantic) went live with PFS' MIG21 and the US 1940 Act LawCard® in less than ten weeks.

Marsh Named 'Broker of the Year' in Asian Insurance Industry Awards for Third Consecutive Year

Wed, 11 Nov 2009 12:30:13 +0100

ASIA - Marsh, the world's leading insurance broker and risk advisor, has been named 'Broker of the Year' at the 13th Annual Asia Insurance Industry Awards. This is the third year in a row and fourth time in five years Marsh has taken home this accolade.

Clarity Systems Records Highest Revenues Ever in 2009, Continuing 12 Consecutive Quarters of Growth

Wed, 11 Nov 2009 10:54:30 +0100

New Solutions, new markets, a growing partner network and an expanding employee base highlight another successful year for Clarity.

ING closes sale of Annuity and Mortgage Businesses in Chile

Wed, 11 Nov 2009 10:36:35 +0100

ING have announced that it has closed the transaction to sell its non-core Annuity and Mortgage businesses in Chile to Corp Group Vida Chile, S.A. ING did not disclose terms of the agreement, which was previously announced on 31 July 2009.

LG advises Australian noteholders on Court of Appeal win under Lehman Dante programme

Tue, 10 Nov 2009 16:19:41 +0100

We are pleased to announce that the Court of Appeal has upheld the Chancellor's decision in another victory for the English law investing public in the set-piece battle being fought out by Lehman investors in the English High Court.

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.

Telcos' data breach notification amendment is passed

Fri, 06 Nov 2009 11:52:32 +0100

EUROPE - The European Council has approved a data breach notification rule for Europe's telecoms firms. The amendment to an EU Directive will force telcos to tell customers if they lose their data.

CIBC selects FRSGlobals liquidity solution

Wed, 04 Nov 2009 14:22:07 +0100

CANADA - FRSGlobal today announced that Canadian bank; Canadian Imperial Bank of Commerce (CIBC) has chosen FRSGlobal's liquidity solution. The combination of FRSGlobal's stress testing and regulatory reporting will enable the firm to monitor, manage and report liquidity as well as build and develop a library of stress tests in accordance with the FSA’s requirements.

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.

More banking competition is good news for consumers, says Which?

Tue, 03 Nov 2009 12:28:47 +0100

As the Government announces plans to break up RBS and Lloyds Banking Group, Which? chief executive, Peter Vicary-Smith, says:

US exits recession

Tue, 03 Nov 2009 12:25:13 +0100

Data today reported that the US, the world's largest economy, has exited recession, showing annualized growth in the third quarter of 3.5%. The figures beat market expectations, and will ease concern that a full global economic recovery was some way off.

FIRST DATA AND TEBBNP PARIBAS SIGN ATM AGREEMENT IN TURKEY

Tue, 03 Nov 2009 09:59:16 +0100

First Data, a global leader in electronic commerce and payment processing services, has announced an ATM deployment agreement with TEB-BNP Paribas (Turk Ekonomi Bankasi), a leading bank in Turkey.

Bailiff Seizes Infringing Devices at Manufacturing Facility in Jena, Germany

Mon, 02 Nov 2009 17:54:09 +0100

AGA Medical Holdings, today announced that the German Regional Court in Düsseldorf, Germany has granted a preliminary injunction against the manufacture, possession and sale of the Figulla Flex occluders manufactured by Occlutech GmbH in Jena, Germany.

Top-10 Global Bank Selects Actimize

Mon, 02 Nov 2009 12:13:18 +0100

Actimize, a NICE Systems today announced that a top-10 global bank, has selected the company as its strategic partner for fighting financial crime in a high 7-digit deal.

First ever debit card service for Somalia

Mon, 02 Nov 2009 10:34:46 +0100

Dahabshiil, the largest international money transfer business in the Horn of Africa, has launched the first ever debit card service in Somalia to help individuals and businesses make and receive payments.

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.

Commission takes action against Spain, Estonia and Luxembourg

Thu, 29 Oct 2009 15:09:12 +0100

The European Commission has decided to refer Spain to the European Court of Justice over its failure to lay down effective, proportionate and dissuasive penalties in national law in relation to the EU Regulation on payer information accompanying transfers of funds.

First ever debit card service for Somalia

Thu, 29 Oct 2009 09:12:30 +0100

Firstsource reports second quarter fiscal 2010 revenues of USD 99.70 million

Wed, 28 Oct 2009 17:38:22 +0100

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

Commission adopts additional legislative proposals to strengthen financial supervision in Europe

Wed, 28 Oct 2009 15:27:07 +0100

The European Commission has adopted additional legislative proposals to further strengthen financial supervision in Europe.

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.

Barclays deal with European Investment Bank gives a boost to UK Further Education Colleges

Mon, 26 Oct 2009 10:34:13 +0100

Some 24 Further Education Colleges across the UK will benefit from lower cost finance comprising a total of £200 million to fund almost £1billion of capital projects, due to a loan facility made available following the signing of a new contract between Barclays and the European Investment Bank (EIB).

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.

Scotiabank joins forces with FAC to offer 3-D Secure solutions across the English Caribbean Region

Wed, 21 Oct 2009 17:41:10 +0100

CANADA - First Atlantic Commerce (FAC), a leading, international, multi-currency payment and risk management solutions provider, and Scotiabank, an international bank based in Canada and the leading bank in the Caribbean, have joined together to offer 3-D Secure™ services to online merchants in 7 countries across the English Caribbean.

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.

FTRANS Adds Three Financial Institutions to Bank Program

Mon, 19 Oct 2009 12:36:21 +0100

FTRANS today announced the expansion of its bank program, highlighted by new partnerships with Patriot Bank (Tampa, FL), One Georgia (Atlanta, GA) and Georgia Commerce (Atlanta, GA). Under the FTRANS bank program, financial institutions, particularly those increasing their commercial and industrial lending (C&I), benefit from the ability to diversify their loan portfolios, expand commercial lending, increase business and commercial deposits and reduce risk of commercial lending.

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.

Analysts see relief for Nigerian economy as CBN concludes clean up

Mon, 19 Oct 2009 12:22:39 +0100

Relief and excitement pervaded the finance sector at the conclusion of the banks’ audit recently carried out by the Central Bank of Nigeria (CBN) even as the fate of the three chief executives of banks sacked weekend remains uncertain.

Irish small firms waiting 66 days for payment-Survey

Mon, 19 Oct 2009 12:18:46 +0100

Small businesses are waiting up to 66 days for payment according to a Small Firms Association (SFA) survey.

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.

Credit Conditions Improve for US Manufacturers

Mon, 19 Oct 2009 12:12:45 +0100

Tightened credit conditions have hit manufacturers hard during the recession, yet recent improvements in credit availability may indicate that better financial health for the industrial sector is on the horizon.

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.

Ingram brings on MoneyTech finance

Mon, 19 Oct 2009 12:03:18 +0100

Ingram Micro has joined forces with financing provider, Moneytech, to provide new credit terms to its reseller base.

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

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

90% LTV loans on Spanish repossessions

Thu, 15 Oct 2009 15:38:18 +0100

whitehotproperty.co.uk, the UK’s largest seller of repossessions, probate and part-exchanged properties, has today announced that it is offering loans of up to ninety percent LTV for buyers of repossessed properties in Spain.

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™.

Charles Mayhew MICM elected onto the FCIB European Advisory Council

Tue, 13 Oct 2009 10:53:47 +0100

Moreton Smith is proud to announce that Charles Mayhew MICM, a Director at Moreton Smith, one of the largest privately owned credit management solutions specialists, has been elected by the FCIB Board of Directors to the FCIB European Advisory Council for a three-year term beginning 2009.

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 ...

Actimize receives highest possible rating from Gartner

Thu, 08 Oct 2009 13:35:34 +0100

Actimize, a NICE Systems company and the largest and broadest financial crime, compliance and risk management solutions provider to the financial services industry, today announced that it received a rating of “Strong Positive”, the highest rating available, in Gartner’s report entitled “MarketScope for Enterprise Fraud Management”, issued September 3, 2009.

Begbies Traynor Group plc and Mesirow Financial Consulting, LLC Announce Joint Venture

Thu, 08 Oct 2009 12:58:54 +0100

Begbies Traynor Group plc (BTG) and Mesirow Financial Consulting, LLC (MFC) today announced a joint venture - BTG Mesirow Financial Consulting – which becomes one of the largest insolvency and restructuring practitioners in the world.

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.

Banco Espírito Santo Selects & Deploys Actimize

Wed, 07 Oct 2009 17:44:54 +0100

Actimize, the largest and broadest provider of transactional risk management software for the financial services industry and a NICE Systems (NASDAQ:NICE) company, today announced that Banco Espírito Santo, listed on the Euronext 100 index, is leading the way in the Portuguese financial market by deploying Actimize’s Brokerage Compliance Market Abuse solution to identify and report suspicious transactions.

ANZ Bank makes FRSGlobal the corporate standard for regulatory reporting

Mon, 05 Oct 2009 13:22:50 +0100

FRSGlobal today announced that Australia and New Zealand Banking Group Limited (ANZ) has chosen FRSGlobal’s regulatory reporting tool, RegPro to be implemented across 12 countries in Asia Pacific and Japan (APJ) as the bank increases its presence as a super regional bank.

Etihad Airways signs first deals in billion dollar programme back by export credit agencies

Fri, 02 Oct 2009 10:47:59 +0100

Etihad Airways, the national airline of the United Arab Emirates, has signed the first Export Credit Guaranteed transactions in a billion dollar aircraft financing programme for 2009 and 2010.

2014: the future of risk management according to Aon

Thu, 01 Oct 2009 18:30:13 +0100

Increased demand for in-house risk managers, ERM exploring opportunities and better risk data will characterise the future risk world, according to Aon, the leading global insurance broker and risk advisor.

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.

Independent Research Assesses the Growing Prominence of Transaction Banking in Asia

Mon, 21 Sep 2009 13:20:21 +0100

ASIA - A new independent research report analysing the growing prominence of the transaction banking market in Asia was launched today by Penrose Financial, the leading public relations consultancy specialising in financial services and capital markets, and Kapronasia, the leading financial services consultancy in Asia.

Princeton Financial Systems presents DVS Publisher Suite 3.0

Mon, 21 Sep 2009 13:15:57 +0100

Princeton Financial® Systems (PFS), leading provider of investment accounting, investment compliance, data management, performance measurement, and reporting solutions for the global investment industry, introduces version 3.0 of their DVS Publisher Suite.

Creditsafe Creditnet expands into Spain and Norway

Mon, 21 Sep 2009 13:05:56 +0100

SPAIN, NORMWAY, UK - Creditsafe, the business credit information experts, has announced the expansion of Creditnet, its international credit referencing solution, to include companies from Spain and Norway. The expansion means that instant credit reports are now available to Creditsafe subscribers for businesses through most of Europe.

EC Public Hearing on Responsible Lending and Borrowing

Fri, 18 Sep 2009 09:36:49 +0100

EUROPE - A Public Hearing has now followed up the EU Consultation on Responsible Lending and Borrowing which closed at the end of August.

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.

Thomson Reuters Strengthens Asia-Pacific Leadership with Key Appointments

Tue, 15 Sep 2009 12:11:55 +0100

Thomson Reuters today announced the expansion of its leadership team across the Asian markets. These strategic appointments reflect Thomson Reuters continued commitment to hiring leaders with proven track records in the industry, deep local market knowledge and an international outlook.

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.

CGI provides banks with improved working capital capabilities through new trade finance offering

Mon, 14 Sep 2009 16:49:50 +0100

CGI Group Inc., a leading provider of information technology and business process services, today announced the addition of accounts receivable and cash management capabilities within its global trade and supply chain platform, Proponix360£.

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.

Agreement on the recapitalisation of servicing operations of the Crown Group

Mon, 14 Sep 2009 11:45:27 +0100

Crown Mortgage Management and Forum Partners have today announced an agreement involving the recapitalization of the servicing operations of the Crown Group. The agreed transaction, which is subject to regulatory approval, will result in the purchase of Crown’s servicing and mortgage co-investment operations from Crown Westfalen Bank with financing proceeds from an affiliate of Forum Partners, a global real estate investment management firm.

DebtX to Sell $788 Million in Loans

Fri, 11 Sep 2009 13:27:05 +0100

DebtX, the largest marketplace for loans, today announced that it will sell $788 million in loan participations in FDIC receivership from the failed Silverton Bank of Georgia.

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.

Invest in education to beat recession, boost earnings

Wed, 09 Sep 2009 16:08:54 +0100

Growing advantages for the better educated and likely continuing high levels of unemployment as economies move out of recession will provide more and more young people with strong incentives to stay on in education. Governments need to take account of this in planning education policies, according to the latest edition of the OECD’s annual Education at a Glance.

Recession Could be Ending, but Crisis Will Continue

Tue, 08 Sep 2009 18:13:31 +0100

RUSSIA - According to Russian experts, the recession could be ending, but the crisis will continue.This was the result conclusion of the meeting held on Thursday by the experts from the Institute of Contemporary Studies (INSOR) and the Finance & Investment Markets Players Club (KIFIR). INSOR and KIFIR were the initiators of this meeting.

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

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

EFG International selects FRSGlobals RegPro

Tue, 08 Sep 2009 09:58:13 +0100

FRSGlobal today announced that global private banking group, EFG International has selected FRSGlobal’s regulatory reporting tool, RegPro for regulatory reporting in its France, Spain, Luxembourg, Monaco, Hong Kong and Singapore branches.

ICMA and Taiwan Securities Association sign Memorandum of Understanding

Tue, 08 Sep 2009 09:54:34 +0100

TAIWAN - The International Capital Market Association (ICMA) and the Taiwan Securities Association (TSA) have today signed a joint Memorandum of Understanding to develop their relationship and to promote mutual exchange of knowledge between the two organisations and their members.

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.

Recovery arriving quicker than expected but activity will remain weak, says OECD

Fri, 04 Sep 2009 15:18:36 +0100

Recovery from the global recession is likely to arrive earlier than had been expected a few months ago but the pace of activity will remain weak well into next year, according the Organisation for Economic Co-Operation and Development's (OECD) latest Interim Economic Assessment.

Responsible retail lending in Europe: first identify what and where are the real problems

Fri, 04 Sep 2009 14:53:05 +0100

Eurofinas, the voice of specialised consumer credit providers at European level, welcomes the European Commission’s ongoing fact gathering on responsible lending and borrowing.

Subprime and Deep Subprime Outstanding Balances Grow 33 Percent

Wed, 02 Sep 2009 12:39:51 +0100

According to the new Experian-Oliver Wyman Market Intelligence Reports, consumers continue to migrate to lower credit bands. The number of consumers in the superprime grade, as measured by VantageScore(R), has declined by 10 percent since Q3 2008. Partially due to this trend, subprime and deep subprime outstanding balances have grown by more than 33 percent in the past three years.

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.

New Credit Score Model Not Helping Home Buyers Says Credit Expert

Thu, 27 Aug 2009 09:34:10 +0100

USA - Credit Expert Eddie Johansson believes the improved FICO 08 credit scoring model will increase the credit scores of a significant segment of borrowers. According to Johansson, president of Credit Security Group, a leading nationwide credit analysis and rescoring firm, that's because the largest sources of home financing, Fannie Mae and Freddie Mac, have not yet approved it.

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’.

Bank of Ireland provides 133mn for Silverfleet's acquisition of Kalle

Thu, 20 Aug 2009 10:05:49 +0100

Bank of Ireland today announces its role as Mandated Lead Arranger and Global Coordinator of a €133 million financing package for the acquisition of Kalle GmbH (“Kalle”) by Silverfleet Capital, subject to anti trust approval in Germany and Russia. The debt financing comprises €113 million of term debt and a €20 million revolving credit facility.

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.

Other countries must play their part in bank pay reform, says BBA

Tue, 18 Aug 2009 07:32:50 +0100

Coordinated action by the world's financial regulators will be the only effective way to reform pay structures in the financial sector, the British Bankers' Association said today in response to the FSA's paper.

Marsh launches trade credit insurance service to help firms maintain cover during recession

Mon, 17 Aug 2009 17:19:09 +0100

UK - As UK companies continue to encounter problems renewing their trade credit cover, Marsh, the world’s leading insurance broker and risk adviser, has launched a new service to help these organisations stabilise or improve the credit limits issued by insurers. The service will enable companies to continue trading effectively with suppliers and customers during the recession.

EU clears German export-credit insurance scheme

Mon, 17 Aug 2009 10:20:51 +0100

The European Commission approved on Wednesday a short-term export-credit insurance scheme adopted by the German government to limit the impact of the financial crisis on export companies.

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.

Prime Bank profits rise on increased lending

Sun, 16 Aug 2009 17:47:50 +0100

Prime Bank has defied the general trend in the banking industry of cutting down lending by substantially growing its loan book in the first half of the year.

LandSource Communities Emerges from Chapter 11

Sun, 16 Aug 2009 17:41:57 +0100

LandSource Communities Development LLC announced that it has emerged from Chapter 11 reorganization as Newhall Land Development LLC.

Plan to revamp Zarai Taraqiati Bank

Sun, 16 Aug 2009 17:35:31 +0100

ISLAMABAD: President Asif Ali Zardari has approved a plan to revamp the Zarai Taraqiati Bank Limited (ZTBL) to make it commercially viable and competitive for agriculture growth.

Central bank reiterates credit policy stance

Sun, 16 Aug 2009 17:34:01 +0100

The central bank has reiterated its commitment to stick to the "moderately loose" monetary policy that, according to it, has helped spur economic growth and revive the stock and property markets.

Italian firm buys into African trade insurance agency

Sun, 16 Aug 2009 17:24:14 +0100

Italian credit management company Sace has acquired a stake in African-owned development finance institution African Trade Insurance Agency (ATI) for $10-million.

Global issues raise worries for risk managers in Italy

Sun, 16 Aug 2009 17:21:32 +0100

ITALY - Risk managers already busy trying to protect their companies' assets as the world economy struggles are facing emerging risks that call for their attention, Italian risk management experts say.

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.

Fundamo, Clickatell Partner to Deliver Mobile Banking Solutions to Global Financial Providers

Fri, 14 Aug 2009 15:25:11 +0100

As emerging economies continue to pioneer the adoption of mobile banking, two leading mobile services providers, Clickatell and Fundamo, have partnered to deliver mobile banking solutions to financial services institutions to help fulfill what will become a US$5 billion opportunity in the next three years, according to McKinsey & Company.

Credit CARD ACT of 2009 Could Spell trouble for Consumers

Fri, 14 Aug 2009 15:21:12 +0100

Personal Statement by Eleanor Blayney, Consumer Advocate for the Certified Financial Planner Board of Standards (CFP Board):

£3 Million Investment For Tech Firms

Thu, 13 Aug 2009 13:08:12 +0100

Technology firms KeTech and Vamosa are the first to benefit from a government-backed fund providing vital investment to innovative small businesses.

Lender Angst and Consumer Frugality Drive Debit Card Transactions Over Credit Card

Thu, 13 Aug 2009 12:54:02 +0100

New research from TowerGroup finds that debit cards are far more resilient in the current recessionary economy than credit cards. In less than 15 years, debit card transactions in the United States grew from 1 percent of noncash transactions to more than 50 percent. TowerGroup predicts that debit card transaction volume and card spend will grow through 2015, through the current recession and ensuing economic recovery.

Professional standards advisory group agrees draft core units for RDR qualification

Thu, 13 Aug 2009 09:47:23 +0100

As part of its role to develop new standards for qualifications in relation to the Retail Distribution Review (RDR) on behalf of the FSA, the Financial Services Skills Council (FSSC) today announced it will soon be publishing a draft set of core units for public feedback.

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.

Isbank automates financial risk decisioning for new customers with Experian

Wed, 12 Aug 2009 17:38:34 +0100

TURKEY - İşbank has selected Experian®, the global information services company, to enable it to make faster and more accurate decisions based on the financial risk of consumers applying for its credit cards and retail loans in Turkey.

Liechtenstein and UK agree package of measures to improve tax compliance

Wed, 12 Aug 2009 16:40:35 +0100

The OECD welcomes the announcement of a package of measures between Liechtenstein and the United Kingdom intended to ensure effective exchange of information for tax purposes between the two countries and to address the important issue of undeclared funds in a cooperative way.

2Checkout.com Extends Commitment to 41st Parameter's Internet Fraud Detection Solutions

Tue, 11 Aug 2009 12:18:37 +0100

USA - 41st Parameter® Inc., the leading provider of fraud detection and prevention technology, today announced a three-year extension of services from 2Checkout.com (2CO), provider of turnkey e-commerce solutions and payment processing for approximately 40,000 businesses around the world.

KPMG Business Outlook Survey - EU manufacturing outlook turns positive in July

Mon, 10 Aug 2009 15:30:16 +0100

The summer 2009 KPMG Business Outlook Survey, which surveys over 3,700 manufacturing firms across the EU, shows returning confidence across the manufacturing sector, but sentiment remains much weaker than pre-crisis levels.

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.

LG represents Australian noteholders under Lehman Dante Programme

Mon, 03 Aug 2009 12:16:35 +0100

A group of 29 Australian noteholders (the Belmont claimants) under the $2 billion plus Lehman sponsored Dante Notes Programme has secured a judgment in the English High Court against Lehman Special Financing Inc (LBSF) upholding the validity of provisions which provide for the subordination of swap counterparty claims in the event of the bankruptcy or default of the swap counterparty.

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.

New Council and Officials for The Malta Association of Credit Management

Wed, 29 Jul 2009 11:23:50 +0100

Following the Annual General Meeting of MACM, the new council elected the new officials to manage the Malta Association of Credit Management for the coming two years (2009 – 2011).

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.

CGI and GXS Come Together to Illuminate Financial Supply Chain for Banks, Buyers and Suppliers

Tue, 28 Jul 2009 09:35:57 +0100

GXS, a global provider of business-to-business (B2B) e-commerce services, today announced a partnership with CGI Group Inc., a leading provider of information technology and business process services. The two companies will integrate their services to provide an end-to-end supply chain finance (SCF) solution to financial institutions.

Coface increases its estimate of the contraction in world growth despite some signs of stabilisation

Tue, 28 Jul 2009 09:33:50 +0100

Coface’s new growth forecasts published recently take into account a growth contraction of 6.6 points between 2007 and 2009. Coface projects the 2009 recession at -2.5% and sees growth recovering in 2010, settling at 1.7%.

Scotiabank joins forces with international payment gateway

Wed, 22 Jul 2009 11:17:54 +0100

Scotiabank has joined forces with international payment gateway, First Atlantic Commerce, to offer 3-D Secure™ solutions across the English Caribbean Region.

Belgium makes progress implementing OECD standards on tax information exchange

Fri, 17 Jul 2009 16:36:20 +0100

In the past two days Belgium has signed protocols to its tax conventions with Luxembourg, Singapore, San Marino, and the Seychelles as well as a tax convention with the Isle of Man and a tax information exchange agreement with Monaco.

TIETOs interim report 2/2009 (JanuaryJune)

Fri, 17 Jul 2009 08:01:01 +0100

TIETO’s interim report 2/2009 (January–June) shows the IT market continuing to be weak, Tieto's profitability improves slightly from the first quarter.

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 ...

Multi-billion Euro BayernLB advisory mandate appointment

Thu, 16 Jul 2009 16:42:05 +0100

Cairn Financial Products Limited, the specialist credit asset manager, today announces its appointment to provide advisory services to BayernLB, in respect of the management and unwinding of its multi-billion Euro European asset-backed securities portfolio.

Merchant Solutions Signs Acquiring Agreement with JCB International

Wed, 15 Jul 2009 17:43:41 +0100

Merchant Solutions, the acquiring joint venture between global electronic payments processor First Data and Standard Chartered Bank, has signed an agreement to initiate merchant acquiring for JCB, a major global payment brand originated in Japan.

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.

Lords fear UK consumers may suffer under new EU proposals

Wed, 15 Jul 2009 00:00:00 +0100

The House of Lords EU Committee have today warned the Government against agreeing to the European Commission's Consumer Rights Directive, calling for further progress to await a more complete assessment of the likely impact.

Aspect Appoints Mike Sheridan Executive Vice President of Worldwide Sales

Tue, 14 Jul 2009 18:53:05 +0100

Aspect, a unified communications (UC) solutions provider, today announced that Mike Sheridan has been named executive vice president of worldwide sales reporting directly to chief executive officer, Jim Foy.

CGI to moderate and present at the New York Society of Security Analysts event

Tue, 14 Jul 2009 18:45:17 +0100

During this time of massive change and consolidation in the financial services industry, banks are beginning to demand a variety of new solutions that will bring them through the lending downturn and position them for the eventual upswing. As a result, technological changes have begun to take place in many areas, including product development, risk management, client service and more.

OECD unemployment rate rises to 8.3% in May 2009

Mon, 13 Jul 2009 17:02:00 +0100

The unemployment rate for the OECD area was 8.3% in May 2009, 0.3 percentage point higher than the previous month and 2.4 percentage points higher than a year earlier.

Consumers Feeling the Pinch of New Banking Fees

Mon, 13 Jul 2009 16:55:20 +0100

Data from the federal government estimates that U.S. banks will collect more than $38 billion in fees this year from consumers who overdraw their checking accounts. Banks will collect billions more from other account penalties, including credit card late fees.

Companies Are Failing to Keep Their Overseas Subsidiary Reporting in Good Shape

Fri, 10 Jul 2009 18:14:46 +0100

Companies across the globe are failing to maintain the required legislative and regulatory reporting requirements for their subsidiaries, according to TMF Group, (TMF) the world's leading independent provider of accounting and corporate secretarial services and Computershare Governance Services (CGS), the leading subsidiary governance software supplier.

Actis to invest US$244 million in Egypts Commercial International Bank

Fri, 10 Jul 2009 18:08:22 +0100

Actis, an emerging markets private equity specialist, is pleased to announce today that it has executed an agreement to invest US$244 million to acquire shares in Commercial International Bank, the leading bank in Egypt. Actis is acquiring 50% of the stake held by the consortium led by Ripplewood Holdings. The transaction makes Actis the largest single investor in CIB.

SEB ranked Best Trade Bank - Nordics & Baltics

Thu, 09 Jul 2009 16:59:48 +0100

SEB is ranked best trade bank in the Nordic and Baltic region according to recent Global Awards survey done by Trade Finance Magazine.

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.

Merchants Launches SmartIDentity(TM) ID Theft Recovery Protection for Residential Rental Property

Thu, 09 Jul 2009 16:41:26 +0100

Merchants Information Solutions announced its latest risk management innovation: SmartIDentity(TM) ID theft recovery protection to benefit rental community owners and their renters and employees at the National Apartment Association's 2009 Education, Conference, & Exposition.

YES BANK to become a First Data preferred partner in India for ATM network

Thu, 09 Jul 2009 16:33:43 +0100

YES BANK, India’s new age private sector bank, and First Data, a global leader in electronic commerce and payment processing services, have signed a Memorandum of Understanding (MoU) for an innovative ATM deployment programme. In this strategic collaboration, First Data and YES BANK will jointly establish a widespread network of Automated Teller Machines (ATMs) across various cities in India.

China YiBai Host the 2009 Chinese SMEs Investment and Financing Summit

Thu, 09 Jul 2009 16:28:40 +0100

China YiBai United Guarantee International Holding Inc. (Pink Sheets: CBGH; hereafter referred to as "China YiBai") staged the 2009 Chinese SMEs Investment and Financing Summit On June 27, 2009 ("Summit"), which could help SMEs develop financing.

TransUnion Consumer Credit Risk Index Hits Record Level

Thu, 09 Jul 2009 16:21:25 +0100

The TransUnion Credit Risk Index, a statistic developed to measure the changes in average consumer credit risk within various geographies, increased 1.98 percent from 124.79 in the fourth quarter of 2008 to 127.26 in the first quarter of 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.

SEB exits its Norwegian car financing operations

Wed, 08 Jul 2009 18:14:55 +0100

SEB has reached an agreement with Volkswagen Financial Services to transfer its car financing operations in Norway.

Tieto's second quarter results on 17 July

Wed, 08 Jul 2009 09:35:23 +0100

Tieto will publish its interim report for 1 January - 30 June 2009 on Friday 17 July at 8.00 am EET (7.00 am CET, 6.00 am UK time).

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.

CME Group Announces Latin American Commercial Incentive Program

Tue, 07 Jul 2009 17:38:26 +0100

CME Group, the world's largest and most diverse derivatives exchange, have announced a new Latin American Commercial Incentive Program that will enable Latin American-based commercial agricultural hedgers to receive discounted trading fees for electronic trading of CME and CBOT Agricultural products, scheduled to begin August 1.

'Tomorrow's News Today' - Creditntell's 'Future Outlook Analysis'

Tue, 07 Jul 2009 17:16:34 +0100

Creditntell.com, a division of Information Clearinghouse Inc., showcases the "Future Outlook Analysis Report" - a forward-looking business tool for companies extending credit to retailers.

Most Creditworthy Consumers Also Are Most Likely to Be Identity Theft Victims

Tue, 07 Jul 2009 17:10:23 +0100

A recent Experian study found a significant relationship between high credit scores and propensity for identity fraud victimization.

Next Development of SMARAGD - The Anti-Finance Crime Suite

Tue, 07 Jul 2009 17:02:53 +0100

With its new SMARAGD Anti-Finance Crime Suite, Cellent Finance Solutions AG has bundled the solutions from the SMARAGD range into an integrated, all-in-one package for combating financial crime.

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.

CreditCards.com -Weekly Credit Card Rate Report

Mon, 06 Jul 2009 18:53:27 +0100

The national average annual percentage rate on new credit card offers rose this week, according to the CreditCards.com Weekly Credit Card Rate Report, as banks increased APRs in advance of new laws that will limit future rate hikes.

Credit Scoring and Credit Control XI returns on 26-28 August

Mon, 06 Jul 2009 18:41:01 +0100

Edinburgh University's Credit Research Centre (CRC) will again host a major event for the credit industry this year as Credit Scoring and Credit Control XI returns on 26 to 28 August.

Ten Proposals for Getting out of the Crisis and for a New Global Balance

Mon, 06 Jul 2009 18:31:35 +0100

It is very tempting to hope for a fast way out of the current economic difficulties. The Circle of Economists is disassociating itself from this reassuring vision, which does not make it possible to envision and implement the institutional reforms and coordination essential for the emergence of a new growth model. Contrary to popular belief, this period may be favourable to France.

Longtop Develops an Analytical Data Mart for Credit Cards for a Chinese Bank

Mon, 06 Jul 2009 17:55:49 +0100

Longtop Financial Technologies Limited, a leading software developer and solutions provider targeting the financial services industry in China, today announced that it has won a contract to develop a customized analytical data mart for credit cards for a National Commercial Bank in China.

Sweden: SEB survey shows business climate still weak but finances improving

Wed, 20 May 2009 10:02:14 +0100

Despite a deteriorating economic outlook driven by falling demand, Swedish financial officers are now less pessimistic than they were three months ago. While most respondents forecast lower profits this year, a turnaround is now expected in 2010. Any potential profitability improvements this year are expected to come from cost cutting and increased efficiency rather than volume increases and higher prices.

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.

TietoEnator - net sales and profits down, outsourcing activity picking up

Fri, 24 Apr 2009 09:39:11 +0100

First-quarter net sales declined by 6% and amounted to €438.0 (€468.3) million. As 38% of Tieto's net sales are generated in non-euro countries, the weakened currencies, especially the Swedish krona, had a negative impact on net sales in euros.

Equifax reports first quarter 2009 results

Thu, 23 Apr 2009 08:16:14 +0100

Equifax Inc has announced financial results for the quarter ended March 31, 2009. The company reported revenue of $452.9 million in the first quarter of 2009, a 10% decrease from the first quarter of 2008, of which 6% was due to the unfavourable effect of foreign exchange rates.

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.

Commission fights late payments

Wed, 08 Apr 2009 17:45:01 +0100

Despite some improvements during the past years, late payments in commercial transactions between companies or between businesses and public authorities still happen in the EU.

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.

Neural Technologies buys Prime Creation Technology

Fri, 27 Mar 2009 13:34:28 +0100

Neural Technologies has acquired a controlling interest in Hong Kong-based Prime Creation Technology, a provider of value added services for mobile operators.

DebtX to sell 138m German and Italian loans

Wed, 25 Mar 2009 16:13:02 +0100

DebtX, the largest marketplace for loans, today announced it will sell more than €138 million in non-performing loans from three financial institutions in Germany and Italy.

Tieto expects sales and profits drop

Mon, 23 Mar 2009 20:29:01 +0100

Based on developments during the first quarter of 2009, Tieto now expects full-year net sales to be lower than in 2008. In January-February, Tieto's net sales amounted to €275 million, representing a 12% decline from the corresponding period in 2008. Approximately half of this decline is due to weakened currencies.

Australia hit by collapse in world trade

Sun, 22 Mar 2009 23:23:55 +0100

A collapse in world trade, particularly in the Asia-Pacific region, and a sharp drop in economic growth for China have significantly heightened the downside risk to Australia’s outlook, according to a new report released by Dun & Bradstreet (Australia).

Coface maintains solid growth

Sat, 21 Mar 2009 14:28:40 +0100

Since the last quarter of 2008, the global credit crisis has entered a second phase. Coface is confronting the crisis with:

- a 7.1% increase in turnover in 2008 (6.5% at constant structure)
- a credit insurance loss ratio of 73% - an increase of 24 points
- a net profit of €94m (down from €204m in 2007), the decrease being limited by improved services and factoring contributions

D&B Australia takes over FCS Online

Mon, 16 Mar 2009 10:09:12 +0100

Dun & Bradstreet Australia has acquired the 53% of FCS OnLine shares it did not hold making it the sole owner of the business as it looks to further integrate its credit reporting and identity verification businesses.

P&A Receivables - directors change

Wed, 11 Mar 2009 09:55:58 +0100

The Directors of P&A Receivables Services are pleased to announce changes to their board. Jacky Cooper moves to take over a new role as director of performance management with specific responsibilities for developing the business infrastructure and the development and training of staff. Charles Bliss takes over the role of operations director.

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.

Heath to lead Aons Risk Control team for UK corporates

Tue, 03 Mar 2009 16:11:49 +0100

Aon Global Risk Consulting has appointed Graham Heath as director of Risk Control UK. In this role, Graham will help UK corporate clients to improve their business performance through effective management of their risks.

Tieto appoints Per Johanson as Head of Financial Services

Tue, 03 Mar 2009 10:04:14 +0100

Per Johanson has been appointed as Executive Vice President of Tieto's Financial Services business and member of the Leadership Team as of 16 May 2009. Per will be based in Sweden.

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.

Neural Technologies implements fraud management solution for Trilogy

Mon, 02 Mar 2009 16:26:20 +0100

Risk management software solution provider, Neural Technologies, today announced that it has completed the installation of its Minotaur fully integrated fraud management solution for Trilogy International Partners at the latter’s Ft Lauderdale, Florida, USA data centre.

Tieto starts staff cuts in weakened market conditions

Thu, 26 Feb 2009 11:19:01 +0100

Due to the continuous deterioration of the macroeconomic environment and its impact on demand for IT services in certain industry sectors on Tieto's main markets, Tieto will start personnel negotiations regarding employee reductions in selected operating countries mainly in Northern Europe.

Commission approves acquisition of Cofidis by Crédit Mutuel

Thu, 26 Feb 2009 09:54:48 +0100

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of consumer credit company Cofidis by retail banker and insurer Crédit Mutuel, both headquartered in France. The Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.

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.

BBA statement to the de Larosiere report

Wed, 25 Feb 2009 18:54:56 +0100

"The British Bankers' Association agrees that it is vital to set up a European wide forum for financial stability, as proposed today by the High Level Group chaired by Jacques de Larosiere, which obviously must work alongside of central banks of non-Eurozone countries. Other aspects of the report, such as the changes to EU regulatory and supervisory structures are also welcome and we are pleased the group agreed to a step by step approach to bring the regulators of Europe closer together. ...

Power shift from ratings agencies to insurers over credit worthiness

Wed, 25 Feb 2009 11:30:06 +0100

Credit insurers have taken over the mantle from ratings agencies in determining UK companies’ credit worthiness, according to Aon Trade Credit. This shift in power means that it is in businesses’ interest to work with credit insurers; which provide suppliers with cover against bad debts; to ensure that they have sufficient insight to enable credit lines for their key suppliers.

Comunitae.com chooses Experian for efficient credit risk application processing

Wed, 25 Feb 2009 09:40:37 +0100

Comunitae.com, the first Spanish social lending community, has chosen Experian, to accurately assess the risk of borrowers. This service will enable Comunitae users to make accurate and consistent decisions about the applicant's financial risk.

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.

SEK: increased demand for financing from the export industry

Fri, 20 Feb 2009 23:24:51 +0100

Despite a market situation characterised by liquidity crisis, SEK has remained able to offer Swedish export companies access to financing. The demand for financial solutions has grown during the year, increasing SEK's importance for the Swedish export industry.

Eurofinas urges Commission to maintain commitment to better regulation

Fri, 20 Feb 2009 16:43:51 +0100

Eurofinas, the voice of the specialised consumer credit providers at European level, notes that in today’s very challenging economic and financial environment, numerous stakeholders call on the European Commission to take action.

Interhyp raised closed mortgage volume to 5.9 billion Euros

Wed, 18 Feb 2009 14:08:53 +0100

Interhyp AG, Germany's largest residential mortgage broker, also in 2008 grew against the market trend: Closed mortgage volume rose to 5.9 billion Euros (2007: EUR 5.7 billion). The number of closed mortgages reached 38,908 (2007: 38,645). Therewith, Interhyp increased its market share in new mortgage business for the full year to 3.32 percent (2007: 3.11%). Net revenues were at 73.2 million Euros (2007: EUR 75.4 million). Earnings before interest and taxes (EBIT) came - mainly due to one-time s ...

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.

Tieto introduces ready-made software components for network element providers

Wed, 18 Feb 2009 14:00:47 +0100

Tieto is launching two new Signaling gateways along with Telecom-grade Application Enablers. With these components Tieto continues its efforts to help NEP (Network Element Providers) customers build and introduce new and more efficient services with shorter time to market, thus enabling them to respond more quickly to market requirements. At the same time, by extending its range of ready-made software components for NEPs, Tieto is taking R&D one step further.

Risk analysis in the financial sector must become part of the culture

Wed, 18 Feb 2009 13:56:29 +0100

This week has seen the head of the UK's Financial Services Authority (FSA) admit that the watchdog did not focus enough on the excessive risks being taken by banks. In addition a former HBOS employee has confessed that risk managers at the bank were discouraged from challenging business decisions. In light of the current economic climate and these announcements, Palisade continues to alert the financial sector that it must evolve to embrace risk.

Creditinfo and SCHUFA sign joint venture agreement

Wed, 18 Feb 2009 11:06:50 +0100

Creditinfo Group hf and SCHUFA Holdings AG today signed an historic Joint Venture agreement, resulting in the formation of a new holding company, Credinfo SCHUFA GmbH, registered in Wiesbaden, Germany.

Global supply chain disruption threat doubles

Tue, 17 Feb 2009 14:43:47 +0100

lGobal supply chains are becoming more vulnerable to potential disruption to trade in 42% more countries in 2009 than last year. According to Aon’s Political Risk Map, the number of countries with the 'supply chain vulnerability' icon has increased from 38 to 54 due to risks ranging from government embargo or interference with a supplier through to strikes, terrorism and sabotage.

Manduca appointed as Aon Limited non-executive chairman

Tue, 17 Feb 2009 14:34:57 +0100

Aon Limited has appointed Paul Manduca as non-executive chairman.

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.

Nordic outlook - fiscal and monetary shock therapy

Tue, 17 Feb 2009 09:12:12 +0100

In the wake of the financial crisis, a dramatic weakening of economic activity is occurring. This decline is global and synchronised. Global GDP will shrink this year, and 2010 will be another typical year of economic weakness. The consequences will be rapidly rising unemployment and mounting tensions in international economic policy cooperation. The threat of deflation will become increasingly evident to the world's central banks, which will respond with zero interest rate policies and quantita ...

SimCorp helps clients mitigate risk in a response to market turmoil

Sun, 15 Feb 2009 14:15:18 +0100

The increasingly complex investment management environment and the current financial crisis have shown that improved risk management is crucial for financial institutions to stay competitive in ever-changing markets. Releasing the new version of its product SimCorp Dimension, the world's most advanced software solution for the investment management industry, SimCorp responds to this challenge in its continued effort to enable clients to mitigate risk, reduce costs and allow growth.

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.

Healthy profits for DnB Norway in 2008

Sat, 14 Feb 2009 19:53:11 +0100

DnB NOR achieved pre-tax operating profits before write-downs of NOK 5 573 million in the fourth quarter of 2008, an increase of NOK 1 937 million compared with the year-earlier period, which is the best quarterly financial performance ever. Profit for the period was NOK 1 943 million. The year as a whole showed strong underlying earnings in spite of a deep downturn in the global economy.

xit2 launches arrears management portal

Sat, 14 Feb 2009 19:45:34 +0100

xit2, the property and mortgage outsourcing specialist, is launching a new arrears management product. The Xit2 Arrears Management Portal helps mortgage lenders and debt counsellors carry out detailed and verified assessments of borrowers’ current financial situations. Lenders can also manage panels of counsellors using leading edge online software.

6th Annual Credit Management conference

Sat, 14 Feb 2009 19:40:27 +0100

On Thursday 19 March 2009, Financial Management magazine and Alex van Groningen are organising the 6th Annual Credit Management Conference in the NH Leeuwenhorst conference centre in Noordwijkerhout, Holland.

D&B Australia - latest survey

Tue, 10 Feb 2009 15:21:42 +0100

The latest D&B National Business Expectations Survey shows:

ONDD - Higher premiums for medium to long term transactions

Tue, 10 Feb 2009 14:40:02 +0100

In the framework of the OECD arrangement, the Office National du Ducroire (Belgium) has increased its premiums for cover against political risk for some countries.

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).

PIC Solutions partners with True Integrated Marketing in Dubai

Tue, 10 Feb 2009 14:16:25 +0100

PIC Solutions, the leading credit risk solutions company in the EMEA region has signed a partnership agreement with True Integrated Marketing (TIM).

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 business development manager for West Africa

Tue, 03 Feb 2009 09:16:59 +0100

PIC Solutions, the leading credit risk solutions consultancy in the EMEA region has recruited an additional relationship sales professional to service the West Africa region.

FICO scoring system changed after 20 years

Fri, 30 Jan 2009 22:26:59 +0100

Fair Isaac Corporation, the leading provider of analytics and decision management technology, yesterday announced that TransUnion is the first credit reporting company to offer Fair Isaac's newest FICO score to businesses. TransUnion will market scores from the new model under the product name FICO Risk Score, Classic 08.

ANZIIF announces education partnership in Indonesia

Fri, 30 Jan 2009 09:51:32 +0100

The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) today launched a joint education partnership with Sekolah Tinggi Manajemen Risiko dan Asuransi (STIMRA).

Kazakhstan banks start to fold

Thu, 29 Jan 2009 16:34:36 +0100

Newswires are reporting that leading Kazakh bank Alliance has been taken over by the state-owned Samruk-Kazyna fund, making it the first Kazakh victim of the crisis. Over the last two years the bank has grown at phenomenal triple digit rates by focusing on the retail end of the spectrum and catapulted itself into the top tier of banks.

OECD: trade flows weaken in third quarter 2008

Wed, 28 Jan 2009 11:25:05 +0100

Merchandise export volumes of the Group of Seven countries fell 0.2% in the third quarter of 2008 compared with the previous quarter, while import volumes rose 0.4%. On a year-on-year basis, import volumes fell 1.4% in the third quarter, the first decline since the third quarter of 2006. Exports rose 1.9%, their lowest growth rate since the third quarter of 2006.

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.

Aspen Marketing and Experian Automotive team

Tue, 27 Jan 2009 10:20:33 +0100

Aspen Marketing, the largest privately-held marketing services agency in the country, and Experian Automotive, a part of global information services company Experian, today announced a new joint direct-marketing effort to help automotive dealers drive more store traffic and convert more sales for their pre-owned inventories.

Tieto and First Data Latvian card

Tue, 27 Jan 2009 10:10:22 +0100

Tieto is First Data's partner for a new payment card solution for state institutions in Latvia. The solution is based on the Tieto Card Suite Acquiring module. It will substantially simplify and speed up the payment process for both state institutions and their end customers.

Firewall security risk assessment

Tue, 27 Jan 2009 10:07:12 +0100

Pentura, a leading IT security consultancy and the UK’s first Risk Management Service Provider, has today launched a new firewall security risk assessment. Pentura’s Firewall Risk Assessment will audit and analyse router and firewall configuration to ensure the highest level of protection is achieved and to identify any system vulnerabilities.

ING Group: Michel Tilmant to step down as CEO

Mon, 26 Jan 2009 10:43:19 +0100

ING announced earlier this morning, that in light of the extraordinary developments over the past few months and given his personal condition, Michel Tilmant will step down from the Executive Board as of today. Michel Tilmant will be an advisor to the company until his retirement from ING on 1 August 2009.

New rules provide confidence for cross-border trade

Thu, 22 Jan 2009 21:39:28 +0100

The UK government has announced that it will implement a European Commission regulation that will provide confidence for cross-border trade.

Chinese and Korean exports collapse

Thu, 22 Jan 2009 09:57:55 +0100

A day after similarly weak numbers in Singapore, today's very weak Chinese and Korean data highlight just how hard hit Asia was towards the end of last year by the global downturn. Across the region, a collapse in export growth has had direct flow-on effects to industrial production, and we are now seeing this start to impact employment, with household spending the next in line.

Coface downgrades China and Russia

Wed, 21 Jan 2009 10:07:17 +0100

During its 13th Country Risk Conference in Paris, Coface announced the downgrading of 22 country ratings. For the first time, two of the biggest emerging countries are negative watch-listed simultaneously: China and Russia.

Chinese economy - sharp decline

Wed, 21 Jan 2009 09:06:34 +0100

A raft of Chinese data is scheduled for release later this week and will provide further evidence of the economy's sharp downturn at the end of the year. This downward trend looks set to continue in coming months, supporting our view that Chinese growth will fall to uncomfortably low levels in 2009, and in turn implying that China will be unable to deliver meaningful support to the global economy or EM sentiment.

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.

Economic outlook: after winter comes spring

Tue, 20 Jan 2009 19:10:04 +0100

For the first time since World War II all the major economies in the world have slid into recession at largely the same time. Though it has been discussed whether the current recession could evolve into a depression, Nordea's economists emphasise in their new Economic Outlook that this is not their baseline scenario.

EU forecasts for 2009-2010: slowdown to sharpen, growth will return before end-2009

Tue, 20 Jan 2009 19:04:43 +0100

GDP growth in the European Union is expected to fall by 1.8% in 2009 before recovering moderately to 0.5% in 2010. This is the result of the impact on the real economy of the intensified financial crisis, the ensuing global downturn manifested in the severe contraction of world trade and manufacturing output and, in some countries, housing-market corrections.

Commission launches European database for financial education

Tue, 20 Jan 2009 18:54:17 +0100

The European Commission has published a European Database for Financial Education (EDFE) on the Europa website. It has been designed to reference numerous financial education programmes offered by public or private institutions in the European Union.

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.

Larger budget deficit and increased borrowing

Thu, 15 Jan 2009 14:11:21 +0100

Swedish central government borrowing will increase more than anticipated in the coming two years since the budget deficit will be larger than the Swedish National Debt Office expected in its previous forecast of 4 November 2008. We now expect a budget deficit in the range of SEK 90 billion in 2009 and SEK 65 billion in 2010.

PIC Solutions Appoints International CEO, Expands Middle East Business

Thu, 15 Jan 2009 14:00:32 +0100

On 1 February 2009, PIC Solutions International, a new division of PIC Solutions, will be created to accelerate the development of PIC Solutions’ interests beyond Southern Africa. PIC Solutions has appointed Stephen J. Leonard as Chief Executive Officer of PIC Solutions International, to facilitate the expansion of business in the international arena.

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 Appoints New CEO

Wed, 14 Jan 2009 16:26:57 +0100

PIC Solutions has appointed a new Chief Executive Officer, David McAlpin, to replace Stephen J. Leonard who will be moving to Dubai as CEO of PIC Solutions International.

Risk ignorance 'greatest 2009 challenge'

Wed, 14 Jan 2009 16:07:23 +0100

70% of UK risk managers have declared that making sure the employees in their organisation are risk savvy is their biggest challenge in light of new pitfalls according to research conducted by Aon, the leading global provider of risk management services.

Aon Global UK appoints new director

Wed, 14 Jan 2009 16:04:49 +0100

Aon Global UK has appointed Fiona Davies as a director to drive business growth and relationship management with multinationals.

World growth to drop to the lowest level in ten years

Wed, 14 Jan 2009 15:25:35 +0100

World economic growth will fall to 1.0% in 2009, the lowest level in more than ten years, before rebounding to 2.1% in 2010, according to a report released today by leading credit reporting and business intelligence firm Dun & Bradstreet (D&B).

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.

Country risk: Emerging economies caught in the storm

Tue, 13 Jan 2009 13:32:50 +0100

Euler Hermes has published its analysis of country risk in a global economic crisis. Country risk takes on another dimension in a recessionary environment.

Will Sneden Joins Aon Consulting

Mon, 12 Jan 2009 18:37:01 +0100

Aon Consulting Worldwide, the global human capital consulting organization of Aon Corporation , today announced that Will Sneden was hired as senior vice president and Health and Benefits practice leader of the Carolinas.

Fair Isaac Announces Keynote Speakers for InterACT 2009

Mon, 12 Jan 2009 18:19:33 +0100

Fair Isaac Announces Keynote Speakers for InterACT 2009: The New Face of Risk, March 10-13 in New York City. World-Renowned Economic Authorities to Address Financial Crisis.

Fitch Ratings will no longer provide ratings of Kaupthing

Mon, 12 Jan 2009 18:05:50 +0100

The ratings agency Fitch Ratings has announced that it will no longer provide ratings or analytical coverage of Kaupthing and its UK subsidiary, Kaupthing Singer & Friedlander. Fitch has also affirmed and simultaneously withdrawn the ratings of the banks.

Budget surplus of SEK 135 billion in 2008

Mon, 12 Jan 2009 13:35:39 +0100

The Swedish central government budget showed a surplus of SEK 135 billion in 2008. The large surplus is to a large extent explained by sales of government-owned enterprises. The sales of Vin & Sprit, Vasakronan and OMX totaled SEK 77 billion in 2008.

SEB ranked Best Nordic Trade Finance Provider

Mon, 12 Jan 2009 13:29:02 +0100

SEB is ranked best provider of trade finance services in the Nordic region overall, as well as in Sweden, Lithuania and Latvia according to a recent survey done by Global Finance publication.

OECD Unemployment Rate increases to 6.5% in November 2008

Mon, 12 Jan 2009 13:24:45 +0100

The unemployment rate for the OECD area was 6.5% in November 2008, 0.1 percentage point higher than the previous month and 0.8 percentage point higher than a year earlier.

Annual inflation in OECD area falls to 2.3% in November 2008

Fri, 09 Jan 2009 15:15:00 +0100

Consumer prices in the Organisation for Economic Co-operation and Development (OECD) area rose by 2.3% in the year to November, compared with 3.7% in the year to October 2008. Month-on-month, prices fell 0.9% in November, after declining 0.3% in October.

Europe faces energy crunch over Russian gas

Wed, 07 Jan 2009 12:58:15 +0100

Russian gas supplies to Europe through Ukraine shut down completely on Wednesday, leaving growing numbers of European Union member states without Russian fuel in freezing mid-winter temperatures. The shutdown, triggered by a price dispute between Moscow and Kiev, halted flows to a dozen countries and disrupted supplies to big economies including Germany, France and Italy.

California Earthquake Would 'Accelerate US Mortgage Meltdown'

Tue, 06 Jan 2009 10:10:22 +0100

In light of current economic conditions, a major catastrophe such as an earthquake in California would bring new misery to both US and international financiers, according to an analysis released today by Impact Forecasting LLC, a division of Aon Benfield, the world's premier reinsurance intermediary and capital advisor.

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.

Hilton-Baird Polska Forms Strategic Alliance with RiskFactor

Mon, 05 Jan 2009 11:03:48 +0100

Independent business introducers, Hilton-Baird Polska, have formed a strategic alliance with risk management specialists RiskFactor Solutions Limited that will enable them to work together to provide powerful risk management software tools to the emerging Polish factoring market, where Hilton-Baird is spear-heading the development of the industry in Central and Eastern Europe.

Irish government to recapitalise main Irish banks

Mon, 22 Dec 2008 15:46:05 +0100

The Irish government will inject up to €7.5 billion into the State's three main banks - Allied Irish Banks, Bank of Ireland and Anglo Irish Bank - under plans announced last night to recapitalise the banks.

Swedish National Debt Office considering new long-term bond

Fri, 19 Dec 2008 17:14:22 +0100

The Swedish National Debt Office is investigating the possibility of issuing a new long-term nominal government bond. The first issue may take place during the first quarter of 2009.

EU urged to encourage Members States to transpose CCD at national level

Fri, 19 Dec 2008 17:07:38 +0100

The Consumer Credit Directive (‘CCD’), adopted on 7 April 2008 by the EU Council, will bring substantial modifications to lenders current working practices across EU 27. As a consequence, lenders will adapt their processes, contractual agreements and IT systems to the new legal framework.

SEB awarded title Best Trade Finance Bank in the Nordic Region

Fri, 19 Dec 2008 16:49:14 +0100

SEB has won the title The Best Trade Finance Bank in The Nordic Region in the annual Trade Finance customer poll from the Global Trade Review (GTR) publication.

EU study shows varying national approach to regulation of 'non-credit' institutions

Fri, 19 Dec 2008 16:34:27 +0100

The European Commission has published a study on the activities, regulation and supervision of mortgage lenders that are not registered as “credit institutions” under domestic law.

CII scrap plans to merge with Australian Counterpart

Fri, 19 Dec 2008 16:18:59 +0100

The Chartered Insurance Institute (CII) has scrapped plans for a merger with its Australian counterpart after finding “financial discrepancies” in its accounts. The CII said that the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) revenues “are falling dramatically and is potentially heading for a loss this year.

EU study shows varying national approach to regulation of "non-credit" institutions

Thu, 18 Dec 2008 17:45:18 +0100

The European Commission has published a study on the activities, regulation and supervision of mortgage lenders that are not registered as "credit institutions" under domestic law.

UK: Prompt payment code starts

Thu, 18 Dec 2008 17:43:38 +0100

The UK’s Secretary of State for Business (and former EU Trade Commissioner) Lord Mandelson) has launched a Prompt Payment Code to increase the speed of payments to smaller companies.

Coface seeks official EU Credit Rating Agency approval

Thu, 18 Dec 2008 17:41:54 +0100

Credit rating agencies have been unanimously picked out for their responsibility in the current financial crisis. In this context, the European Commission has just submitted a much-awaited draft Regulation on credit rating agencies to the European Parliament.

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.

EOS acquires Rochester Credit Center in the US (RCC)

Wed, 17 Dec 2008 16:35:48 +0100

As of 1 December 2008, the EOS Group acquired 100% of the assets of the U.S.- American debt collection company Rochester Credit Center, Inc. (RCC), trading as The Credit Bureau.

Directors may hide behind new EU law