Using AI systems in Lending: the pros and cons

With more and more lenders turning to Artificial Intelligence (AI) software, lenders and customers alike are discovering that technology and humans both come with their own unique sets of pros and cons. Using AI software as a way of deciding how lenders can borrow money and who is approved for a loan can help to…

festive season financial

Stay Financially Safe this Festive Season

It may be the season of goodwill, but for some, the festive season isn’t all about glad tidings of comfort and joy. The Christmas period is a notoriously dangerous time for innocent people falling victim to financial fraud.  It’s important to stay vigilant and if anything seems suspicious, flag it with your bank before proceeding.…

amigo loans

Amigo’s Woes Continue as Complaints Flood In

Subprime lender Amigo has announced that they will not be offering new loans until at least next year as they deal with an avalanche of customer complaints. The lender had originally paused lending after the Coronavirus crisis and has been struggling to deal with the volume of complaints they’ve been receiving.  Amigo received 25,571 complaints…

second charge mortgages

Second Charge Mortgages Come Under Further Scrutiny

Second charge mortgages are set to face further scrutiny from the Financial Conduct Authority (FCA) after the regulatory body revealed they would be monitoring the quality of recommendations and the fees charged in the sector.  The FCA are looking to assess whether or not customers are receiving a product that meets their needs meaning they…