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Government extends Furlough to March and increases self-employed support

Article Link-www.gov.uk/government/news/government-extends-furlough-to-march-and-increases-self-employed-support Article Extract-businesses and people across the UK given certainty over winter months with further support announced by Chancellor Rishi Sunak the furlough scheme will now be extended until the end of March – protecting millions of jobs across all nations the next self-employed income support grant will also increase from 55% to 80% of average profits - up to £7,500 Workers across the United Kingdom will benefit from increased support with… Read more… Read more

FCA fines Lloyds Bank, Bank of Scotland and The Mortgage Business £64,046,800 for failures in mortgage arrears handling

Article Link-www.fca.org.uk/news/press-releases/fca-fines-lloyds-bank-bank-scotland-mortgage-business-failures-mortgage-arrears Article Extract-The Financial Conduct Authority (FCA) has today fined Lloyds Bank plc, Bank of Scotland plc and The Mortgage Business plc (the banks) £64,046,800 for failures in relation to their handling of mortgage customers in payment difficulties or arrears. The banks have estimated that they will have paid approximately £300 million in redress. The redress programme is nearly complete. Mark Steward, Executive Director of Enforcement and Market Oversight at the FCA… Read more… Read more

Why we need a new and different approach to collections – Credit Connect

Article Link-www.credit-connect.co.uk/industry-opinion/why-we-need-a-new-and-different-approach-to-collections/ Article Extract-Those operating in the collections industry have typically approached consumers who either won’t pay—which may include those in dispute—or those who can’t pay due to a change of circumstances and have fallen into financial hardship. The length of time it will take to cure the account will depend upon the cause, and now of course, take into account various forms of vulnerability including those adversely effected by Covid-19. Future expectations… Read more… Read more

7 Essentials of Digital Transformation Success

Article exploring the atributes for success with digital transformation Become a Data and Analytics LeaderEnhance Consumer ExperiencesFoster InnovationLeverage Modern TechnologiesUpgrade Systems and ProcessesReskill Your WorkforceAlign Leadership and Culture for Digital Future Article Link-> thefinancialbrand.com/102882/digital-transformation-banking-ai-cloud-technology-innovation-systems-culture/ Article Extract-> By Jim Marous, Co-Publisher of The Financial Brand, Owner/CEO of the Digital Banking Report and host of the Banking Transformed podcast.   Skip to Page: 12   Subscribe to The Financial Brand via email for FREE!   Digital banking transformation involves the…… Read more

Ofgem’s vision for a net zero future

Net Zero is a key theme within the water industry, this article is a good introduction and summary of steps being taken and discussion points. Article Link-> www.ofgem.gov.uk/publications-and-updates/ofgem-s-vision-net-zero-future Article Extract-> This is the keynote speech Jonathan Brearley, chief executive of Ofgem, gave at Energy UK’s annual conference on October 15. I will start with today, as I have done many times before, by saying thank you to all of you who work in the energy…… Read more

Coronavirus and the latest indicators for the UK economy and society

Economic data for the UK on the impact of COVID19.. Homeworking, online working and a decline in trade are all key themes.. Article Link-> www.ons.gov.uk/peoplepopulationandcommunity/healthandsocialcare/conditionsanddiseases/bulletins/coronavirustheukeconomyandsocietyfasterindicators/8october2020 Article Extract-> 1. Main points According to the latest Business Impact of Coronavirus (COVID-19) Survey, nearly a fifth (19%) of businesses intend to use increased homeworking as a permanent business model in the future. See Section 3. The proportion of adults who used a face covering was the highest since…… Read more