Monthly Archives :

August 2022

KYC in a Digital Age

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KYC – Know Your Customer. One of the acronyms we encounter most often working in the Governance, Risk, Compliance & Financial Crime space, and the first line of defence a new customer reaches when they join a new Bank, Building Society or other Financial Services business. In an increasingly digital world, the work of KYC is…

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Statutory Debt Repayment Plans – How Will They Impact Lenders? – Guest Post

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Following on from Breathing Space, SDRPs are the second element of the government’s debt respite scheme, a new debt repayment vehicle consolidating all eligible debt into a single plan Whilst there are significant implications for all included creditors – not least the overlap of timelines with Consumer Duty – perhaps the most fundamental impacts are for mortgage lenders…

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Affordability: A Big Cog in the “Problem Debt Support”​ Machine – Guest Post

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June’s Dear CEO letter “The rising cost of living – acting now to support consumers’ highlighted the FCA concerns about affordability and their expectations of problem debt support provision This article: Considers the central themes of the letter, the FCA’s expectations and the implications for arrears management and problem debt support Reflects on the emerging…

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