Credit Management November 2025

CREDIT MANAGEMENT

CM

NOVEMBER ISSUE 2025

THE CICM MAGAZINE FOR CONSUMER AND

COMMERCIAL CREDIT PROFESSIONALS

Better by design

How conversational AI is

transforming affordability

assessments

CONSUMER

Best practice in

customer complaint

handling.

PAGE 12

FRAUD

Detecting and dealing

with fraud in the

construction sector.

PAGE 16

CONSUMER

Financial resilience

threated poor digital

experience.

PAGE 38

IONA YADALLEE

EDITOR

Editor’s column

BETTER

OUTCOMES

BEGIN WITH

BETTER DESIGN

THAT’S the thread running through

two standout articles in this issue. On

page 22, Rachel Curtis explores the

evolution of affordability assessments.

Her argument is clear: when credit

assessment tools are designed with

care, empathy, and modern technology,

they don’t just meet regulatory expectations – they build

trust, improve engagement, and deliver better outcomes.

And on page 38, Matthew Parden challenges us to rethink

customer interfaces, specifically how banking apps are

designed. He argues that poor design leads to a bad user

experience, which is not only frustrating for the customer

but can also actively harm financial resilience.

Whether it’s a conversational AI tool that eases pressure

during disclosure, or an interface that encourages saving

instead of spending, the principle holds. How something

works, and how it makes people feel, shapes whether they

use it, trust it, and benefit from it.

Designing for impact means asking better questions: What’s

intuitive? What’s accessible? What helps someone stay in

control? This is something credit professionals are already

doing – using those answers to rework processes, develop

or adopt new technologies, and create systems that lead to

positive improvements.

While some improvements can be influenced directly, others

may depend on broader decisions we can only anticipate.

By now, we’ll be just a few weeks away from the Autumn

Budget and the speculation, as always, will be loud, whether

it is about business incentives, personal taxes or growth

plans. But until the detail emerges, we’re left in the gap

between expectation and impact.

So, in the month where we’re all waiting to see

what levers government will pull to stimulate growth,

improve financial inclusion, or ease pressure on households,

it’s a good reminder that not all impact comes from

legislation.

Brave | Curious | Resilient / www.cicm.com / November 2025 / PAGE 3

contents

November 2025 issue

11 – INSOLVENCY

Could statutory interest change payment

culture?

12 – CUSTOMER COMPLAINTS

Best practice in customer complaint handling.

16 – BUILDING DEFENCES

Staying one step ahead of sophisticated

criminals.

20 – ENFORCING FAIR PAY

How successive Governments have tried to

resolve late payment.

22 – BETTER BY DESIGN

How modern, AI-powered affordability

assessments build trust and customer

engagement.

25 – COUNTRY FOCUS

More than just a neighbour France is a

gateway of commercial opportunity.

32 – DATA PROTECTION

The ICO’s new practical guides are designed

to help companies avoid common mistakes

and meet their legal obligations.

38 – A DIGITAL PARADOX

Time for a behavioural reset so that bad

banking user experience doesn’t sabotage

UK savings.

42 – DECODING A DECADE

The changing face of Credit

Management.

44 – HR MATTERS

Employers need to prepare for the

incoming Employment Rights

Bill concerning fair treatment

for flexible workers.

50 – ENFORCEMENT

The impact of fraud on the

enforcement profession.

11

INSOLVENCY

Could statutory interest

change payment culture?

50

ENFORCEMENT

12

CUSTOMER

COMPLAINTS

CUSTOMER

COMPLAINTS

25

COUNTRY

FOCUS

A DIGITAL PARADOX


22

BETTER BY

DESIGN

CICM GOVERNANCE

President: Stephen Baister FCICM

Chief Executive: Sue Chapple FCICM

Executive Board: Chair Neil Jinks FCICM

Vice Chair: Allan Poole FCICM

Treasurer: Glen Bullivant FCICM

Larry Coltman FCICM

Peter Gent FCICM(Grad)

Paula Swain FCICM

42

DECODING

A DECADE

32

DATA

PROTECTION

New practical

guides designed

to help companies

avoid common

mistakes.

Advisory Council: Laurie Beagle FCICM

Laura Brown MCICM(Grad) / Arvind Kumar FCICM(Grad)

Natalie Bunyer FCICM / Glen Bullivant FCICM

Alan Church FCICM(Grad) / Larry Coltman FCICM

Peter Gent FCICM(Grad) / Tom Hope MCICM

Neil Jinks FCICM / Martin Kirby FCICM

Charles Mayhew FCICM / Joshua Mayhew FCICM

Hans Meijer FCICM / Amanda Phelan FCICM(Grad)

Allan Poole FCICM / Emma Reilly FCICM

Philip Roberts FCICM / Paula Swain FCICM

Jonathan Swan FCICM / Mark Taylor MCICM

Atul Vadher FCICM(Grad) / Dee Weston FCICM

View our digital version online at www.cicm.com.

Log on to the Members’ area, and click on the

tab labelled ‘Credit Management magazine.’

Credit Management is distributed to the entire

UK and international CICM membership, as well

as additional subscribers.

Publisher

Chartered Institute of Credit Management

1 Accent Park, Bakewell Road, Orton Southgate,

Peterborough PE2 6XS

Telephone: 01780 722900

Email: editorial@cicm.com

Website: www.cicm.com

CMM: www.creditmanagement.org.uk

Editor: Iona Yadallee

Art Editor: Andrew Morris

Telephone: 01780 722910

Email: andrew.morris@cicm.com

Editorial Team

Grant Bather, Rob Howard and Melanie York

Advertising

Paul Heitzman

Telephone: 01727 739 196

Email: paul@centuryone.uk

Printers

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ISSN 0265-2099

Reproduction in whole or part is forbidden without specific permission.

Opinions expressed in this magazine do not, unless stated, reflect those

of the Chartered Institute of Credit Management. The Editor reserves

the right to abbreviate letters if necessary. The Institute is registered as a

charity. The mark ‘Credit Management’ is a registered trade mark of the

Chartered Institute of Credit Management.

Any articles published relating to English law will differ from laws in Scotland and Wales.


THE NEWS

CMNEWS

A round-up of news stories from the

world of consumer and commercial credit.

The Changing Face

of Payments in the UK

THE way people in the

UK pay for goods and

services is changing faster

than ever, with digital

wallets, mobile banking

and new contactless

options reshaping everyday transactions.

Recent research and regulatory proposals

highlight both the rapid pace of adoption

and the challenges that come with this new

landscape.

The rise of mobile wallets

More than half of UK adults are now using

mobile wallets, marking a milestone in the

UK’s shift towards digital payments. Figures

from UK Finance’s Payment Markets Report

2024, released in September, show that 57%

of people were using a mobile wallet last

year, up sharply from 42% in 2023.

More people are using their phones,

watches or other mobile devices to manage

money and make purchases. Users who

register for a mobile wallet service quickly

seem to become frequent users. Of those

who used mobile payments, half used

them monthly, and 44% weekly or more

often. While younger people still lead

the way in terms of adoption – 88% of

16-24-year-olds – among those aged 65 and

over, registration rose from 14% in 2023 to

25% in 2024.

Cards remain the most popular payment

method overall, accounting for 64% of

all transactions. Debit cards led the way

with 26.1 billion payments, while credit

and charge cards made up five billion.

Contactless use continues to grow, with 18.9

billion tap-and-go transactions recorded,

representing around 61% of all card

payments. Mobile banking also overtook

desktop for the first time, with 75% of adults

using apps to check balances, make transfers

and manage money.


CREDIT MANAGEMENT

High earners are more likely to

rely solely on smartphones or

watches, while on average Britons

carry just £20 in cash when they

go out and keep £10 at home.

Buy Now Pay Later (BNPL) services

surged too, used by one in four adults in

2024 compared with 14% in 2023. While

fashion dominated BNPL purchases,

uptake grew sharply among older

consumers, particularly those aged 55-

64. New regulation, including mandatory

affordability checks from 2026, is expected

to reshape the sector.

Cash payments continued their decline,

falling below 10% of all payments for the

first time. Around 1.2 million adults still

rely mainly on cash, but this figure is

steadily shrinking. Looking ahead to 2034,

UK Finance expects cards to account for

around two-thirds of all payments, mobile

wallets to become increasingly mainstream,

and cash to fall to just 4%.

Fewer carry wallets in digital era

This shift is changing what people carry

in their pockets. A study published by

cash machine network Link found that

less than half of Brits now carry a wallet,

even though more than 80% still own

one. Digital wallets are now the default

for Generation Z and millennials, while

older adults still rely most on debit cards.

Among 35-44-year-olds, 29% regularly leave

home carrying only a digital wallet.

High earners are more likely to rely

solely on smartphones or watches, while

on average Britons carry just £20 in cash

when they go out and keep £10 at home.

Cash usage is highest among the over-65s,

three-quarters of whom typically have cash

in their pocket, compared with less than

half of 18–34-year-olds.

But the report also warned of risks. Six

in 10 people said they had experienced

digital payment failures, with one in

five abandoning purchases as a result.

Authorities therefore face a double

challenge: ensuring continued access to

cash, while strengthening the resilience of

digital systems.

Proposed contactless changes

Regulators are also looking at ways to adapt

payments to modern habits. A proposal to

change the way contactless payments are

made could, says the Financial Conduct

Authority (FCA), benefit consumers

by increasing convenience for larger

transactions. In essence, the FCA wants

to give card providers the flexibility to

decide the right limit for them and their

customers. Many already allow customers

to adjust their personal contactless limits

or turn off the functionality altogether, but

the FCA will continue to encourage firms

to offer this choice.

Fraud remains a key consideration.

UK Finance’s Annual Fraud Report 2025

estimates that contactless fraud rates are

currently low at around 1.3p per £100 spent

on contactless transactions, compared to

6p per £100 for all unauthorised fraud.

Taken together, the data shows a

payment landscape in flux – increasingly

digital, more convenient, but requiring

careful oversight to ensure resilience and

inclusion as Britain moves toward a largely

cashless future.

Mobile banking also overtook

desktop for the first time, with

75% of adults using apps to check

balances, make transfers and

manage money.

A career well spent

SEAN Feast, FCICM former managing

editor of Credit Management magazine,

has been recognised for his services to the

credit industry with a Lifetime Achievement

Award at the Credit Services Association’s

(CSA) 2025 awards.

Beyond his years shaping debate as

CM managing editor, Sean was also a

founder and director of marketing and

communications agency Gravity Global,

where he spent decades dedicated to

building and protecting the reputations

of organisations across the credit industry.

During his 40-year career Sean supported

trade bodies and businesses across the

industry, including the CSA and CICM,

and played an influential role across the

credit space. He worked with organisations

spanning debt collection, debt purchase,

banking, invoice finance, as well as credit

insurance and insolvency.

Well known for his clear, authoritative

voice and his commitment to promoting

high standards across the profession, he

played a central role in ensuring credit

and collections are better understood both

inside and outside the industry.

His Lifetime Achievement Award was

presented in front of peers and colleagues

from across the sector, recognising not only

past accomplishments but also the lasting

impact of his work.

Law firm uses

AI to take on bank

A small law firm – Helix Law – that has

taken Metro Bank to the High Court

over a $20m (£14.75m) claim and is using

artificial intelligence to cut costs and fight

opposing lawyers. Helix is representing

US software provider Arkeyo LLC in its

claim against the bank, which is accused

of breaching copyright and licensing

agreements linked to the bank’s in-branch

coin counting machines, known as ‘Magic

Money Machines’.

Helix Law says it has been able to take

the case forward because of technology that

cut disclosure costs from an initial estimate

of £350,000 to £100,000 – a fraction of the

£557,000 budgeted by Metro Bank’s legal

team.


NEWS

HMRC drives and

compulsory liquidations

ACCORDING to R3, the trade association

for the UK's insolvency and restructuring

sector, citing official data, company

directors are “feeling the impact” of

HMRC’s crackdown on unpaid taxes as

compulsory liquidations rose by 11% in the

year to July 2025.

It appears that more owners wound up

their businesses in July than in June, with

creditors’ voluntary liquidations driving

insolvencies across the UK. Notably, of

the 2,081 company insolvencies in July, 339

companies were forced to close down – 26%

more than the monthly average seen across

2024 when compulsory liquidations were

already at their highest levels in 10 years.

R3 reckons that a more direct approach

by HMRC had led to the collapse of these

firms. President of R3, Tom Russell, said:

“Our members are reporting that HMRC

is taking a more assertive stance towards

enforcement, with greater appetite to

recover unpaid taxes through the courts.”

He added that “directors are feeling the

impact of this firmer enforcement, which

is adding pressure on businesses already

navigating a challenging market.”

At the same time, Insolvency Service

data also showed a slight increase in the

number of administrations compared to a

year before while restructuring plans were

registered for 13 companies.

Construction and wholesale and retail

trade were the most affected sectors

following rises in employment-related

taxes. However, manufacturing made

up 8% of insolvencies. Separate research

by Cynergy Bank on ONS data showed

that there has been a net loss of 13,520

manufacturing businesses over the past

four years, leading to a decrease in around

2,000 jobs.

Thousands of fake FCA

scams reported

NEWS

Car finance

compensation in 2026

THE FCA is expecting motorists caught

up in the mis-selling of car loans to be paid

compensation in 2026.

The payouts relate to commission

arrangements between lenders and dealers,

and inaccurate information given to car

buyers, and follow a ruling by the Supreme

Court. While up to 30m agreements between

2007 and 2020 could be reviewed, not all

will be eligible for compensation. The FCA

reckons that claimants were likely to get less

than £950 per deal. Vauxhall and Peugeot’s

parent company Stellantis has put aside

£37m to cover potential claims linked to

it. Some think that the claims could cost

lenders as much as £18bn.

THE FCA is warning that fraudsters are

impersonating the FCA and that it has

received thousands of fake FCA scam

reports in the first half of 2025.

There have been 4,465 reports of fake FCA

scams to the regulator’s consumer helpline

already in 2025 and 480 victims sent money

to a fraudster. The majority, almost twothirds,

of reports came from those aged 56

years or older.

One of the most common scam methods

reported is fraudsters claiming that the

FCA has recovered funds from a crypto

wallet that was opened illegally in the

individual’s name. Another common

method is to target loan scam victims, who

may be vulnerable, and claim the FCA can

help them recover the money they have

lost. They are then persuaded to hand over

further funds.

A separate trend involves emailing

consumers telling them their creditors

have taken out a County Court Judgement

against them and they need to pay the FCA

the monies owed.

‘Pig butchering’ is where scammers ‘fatten

up’ victims by building a connection, often

a romantic one, and then carry out a longterm

investment scam. After the victim

has lost money, fraudsters then attempt

to defraud victims a second time by

pretending to be the FCA under the guise

of helping to 'recover' the money.

Charlene Young, senior pensions and

savings expert at AJ Bell, suggests that

the true volume of victims and attempts

will likely be much higher than what the

FCA has on record: “Depressingly, the most

vulnerable people continue to be those who

are most actively targeted.”

Credit union

quarterly statistics

THE Bank of England has issued its 2025 Q1

credit union quarterly statistics, aggregated

from the quarterly returns submitted by

authorised credit unions in the UK.

Key points from the data record that credit

union adult membership grew 0.33% to 2.16m

in 2025 Q1; and the total value of assets held

by UK credit unions rebounded slightly in

2025 Q1, increasing 0.14% to £4.89bn after

the first quarterly fall since records began

in 2024 Q4.

It's worth noting that interim profit

increased by 12.24% to £12.77m in 2025 Q1,

driven by increases in England and Scotland,

as falls in total income were offset by even

greater falls in total expenditure in both

regions.


CREDIT MANAGEMENT

Measures to tackle fraud

come into effect

THE new corporate criminal offence of

'failure to prevent fraud’, introduced as

part of the Economic Crime and Corporate

Transparency Act (ECCTA) 2023, came

into effect at the start of September.

The Home Office expects that ECCTA

will “hold large organisations to account if

they profit from fraud. It forms part of wider

measures introduced by the government to

tackle fraud and protect the UK economy,

as part of the Plan for Change.”

The offence is one of a series of “major

steps forward on fraud prevention” that

include working on a ban on SIM farms

– devices which facilitate fraud on an

industrial scale, an agreement with the

insurance sector, and adopting a UN

resolution on fraud.

Under the new offence, large organisations

– that have more than 250 employees, or

more than £36m in turnover, or more than

£18m in assets – can be held criminally

liable where an employee, agent, subsidiary,

or other ‘associated person’ commits a fraud

intending to benefit the organisation.

Activities caught can include dishonest

sales practices, hiding important

information from consumers or investors,

or dishonest practices in financial markets.

Should a prosecution be brought, an

organisation will have to demonstrate

that it had reasonable fraud prevention

measures in place at the time the fraud was

committed.

However, there is concern that managers

in financial organisations may be left

exposed to prosecution.

A story on Law 360 says that “regulatory

experts have warned that many finance

firms are not prepared for the implications

of the changing rules for senior managers

— the FCA’s proposed longer validity

period for criminal record checks on

senior managers before they are appointed

increases the risk of them admitting crooks

into their upper echelons.”

NEWS

The FCA’s streamlining process could

potentially put regulated firms at greater

risk of criminality and subsequent

prosecution under the ‘failure to prevent

fraud’ offence in the event that a fraud is

committed which benefits the organisation.

Given that Nick Ephgrave, director

of the Serious Fraud Office (SFO), has

issued a warning that the organisation

will be on the look of out for cases from 1

September 2025, and that the SFO said in

its 2025–26 business plan that launching

the offence will be a “landmark moment

which will widen the reach and breadth of

prosecutions”, there is real concern.

The problem seems to be a combination

of unsuitable senior managers, where

individuals are hired under the FCA’s

simplified senior managers regime, and

an extension in the time frame when

individuals must undergo a criminal

record check new convictions could arise

undetected.

And then there’s the issue of internal

corruption where firms are potentially

ill-prepared for attempts by criminals to

corrupt employees within the business into

committing fraud. A bank employee could,

for example, conspire with a dishonest

financial adviser to mis-sell a banking

product, with the bank obtaining fees from

the customer.

Corrupt insiders who know how to

circumvent the bank’s procedures could

create a risk of prosecution for the offence

if the procedures are not up to scratch.

The FCA has demonstrated that it takes

senior managers’ misconduct seriously

when, in July (2025), it banned Jean-Noël

Alba, the former deputy chief executive

at asset manager H2O AM LLP, from the

financial industry and fined him £1.05m

for misleading the regulator about risky

investments linked to financier Lars

Windhorst. Even so, the risk of prosecution

because of an unchecked employee remains.

Fernwood Financial Ltd

enters liquidation

FERNWOOD Financial Limited, a highcost

lender based in the northwest, has

entered liquidation, the Financial Conduct

Authority (FCA) has announced.

The company is no longer lending and has

now stopped all collections.

In a rare move, the FCA said that the

liquidators are writing to all current

customers informing them that their loan

balances have been written off in full.

As a result, customers do not need to

make any further payments to the firm

and customers have been told to cancel any

automated payments.

The regulator also said that it was in

regular contact with the firm and the

liquidator regarding the fair treatment of

customers.

The reason for the liquidation has not

been disclosed.

Lewes Pound is no more

SEVENTEEN years after its launch, the

Lewes Pound, the UK’s last surviving local

currency, has been withdrawn.

First issued in 2008 in the East Sussex

town of Lewes, it was created to support

small businesses and keep money circulating

locally.

The rise of cards and digital payments has

ended the need for the currency.

Organisers had originally hoped for 100

buyers and 25 participating businesses;

instead, 400 people bought the first run of

10,000 notes, and 75 shops signed up. The

notes included a £21 denomination.

There were other local currencies including

the Totnes, Brixton and Bristol Pounds.

About £10,000 of remaining backing funds

will now be donated to local organisations.

Gender bonus bias

HR data specialists Brightmine has

published research that has found that

men are nearly one-and-a-half times more

likely to receive a bonus than women, and

when they do, their payouts are significantly

higher.

The study found that men received an

average bonus of £4,913 (9.5% of salary)

whereas women received £2,723 (6% of

salary).

Notably, the disparity is worse for those

mid-career; men in their early 50s, receive

average bonuses of £8,693, while women in

the same age group receive £4,193.

Brightmine also found wide variation

across job roles. Directors were awarded

average bonuses of £54,014 (33.6% of their

salary), while cleaners or catering assistants

received just £535 (2.2%).


continues on page 10 >

NEWS

Mortgage lending rebounds

UK Finance’s latest Household Finance

Review for Q2 2025, which explores

trends in household spending, saving, and

borrowing, found that mortgage lending

activity dipped in early Q2 following

Stamp Duty changes but had recovered by

June.

The review recognises that the “FCA’s

mortgage affordability stress test has

helped keep arrears low on mortgages

granted since its introduction but has

done so by restricting access to credit.” UK

Finance suggests that a modest increase

in lending, enabled by lower stress rates,

could improve access to mortgages—

especially for first-time buyers—without

significantly raising arrears.

In more detail, UK Finance says that

rising interest rates since 2022 have been

the first meaningful test of the FCA’s 2014

lending rules – “despite sharp increases,

most borrowers coming off fixed rate

mortgages during this period faced rates

below the levels they were originally stresstested

against.”

The rate a customer pays relative to their

original stress test threshold has a notable

impact on the likelihood of falling into

arrears. Among borrowers now paying

above their previous stress test rate, 1.75%

are currently in arrears—compared with

just 0.21% of those paying below that

threshold.

UK Finance says that each year, between

600,000 and 700,000 new house purchase

mortgages are written, and there are

currently around 87,000 homeowner

mortgages in arrears.

UK Finance also acknowledges that

household savings balances grew further in

Q2, with deposits surpassing previous highs

as savers took advantage of competitive

rates and an unchanged ISA allowance. At

the end of June, households held £295bn of

savings in notice accounts and £205bn in

cash ISAs.

NEWS

Experian helps combat

financial crime

EXPERIAN has launched a new solution

that it says is “designed to help tackle the

growing threat of financial crime, including

money laundering, fraudulent account

activity, and account misuse.” The Know

Your Customer (KYC) framework is

essential in defending against financial

crime and requires financial institutions

regularly verify customer information.

However, these checks are resourceintensive

and can divert attention.

Experian says that its new Financial

Crime Compliance Perpetual Monitoring

solution “is designed to ease this challenge”.

It does this by “continuously monitoring

customer data from both internal and

external sources and, rather than relying on

manual periodic reviews… it automatically

flags data changes that may indicate risk,

prompting investigators to take action and

review further.”

The company believes that this

approach helps financial institutions

have “appropriate contact with low-risk

customers, streamlines operations, and

improves the customer experience, while

still maintaining robust compliance

standards.” It also allows investigators to

focus on the most complex cases.

Experian says that it has worked closely

with a number of major banks and lenders

to pilot the solution, and it is now being

rolled out more widely across the banking

and lending industry over the next year.

In addition, Experian collaborated with

Lloyds Banking Group (LBG) to develop

the industry’s first Perpetual Monitoring

solution, known as Automated Portfolio

Monitoring (APM). LBG have already been

using the solution for some time.

Experian is hoping that Perpetual

Monitoring will “become the industry

standard across the UK financial services

industry, using best-in-class technology to

prevent laundered money from entering

and destabilising the financial system.”

Experian is

hoping that

Perpetual

Monitoring

will “become

the industry

standard across

the UK’’

25% of population to be

pensioners by 2075

SUZY Morrissey, the independent reviewer

examining the long-term sustainability of

the state pension, has said the number of

people of pensionable age or older would

rise by 55% over the next half-century, to

reach 19.5m while the number of over-85s is

forecast to rise from 1.8m presently to 5.1m.

Consequently, an ageing population will

place a strain on the UK economy with the

annual cost of the state pension is expected

to rise from about 5% of GDP to 7.7% by the

early 2070s.

Worryingly, around 3m self-employed

workers save nothing for retirement, while

just a quarter of low-paid private sector staff

contribute to a pension.

UK’s wealthy think they’d

be better off abroad

RESEARCH from Arton Capital has found

that a majority of Britain’s millionaires

believe they would enjoy a better quality

of life overseas, as higher taxes and the rising

cost of living are making their lives harder.

The survey – of 1,000 people with a net

worth of at least £1m - noted that 60%

thought life would be better abroad, while

just over half said they would be more likely

to leave if Chancellor Rachel Reeves pressed

ahead with a wealth tax.

Matters have been brought to a head by

the ending of the ‘non-dom’ regime in April

which shielded foreign residents overseas

earnings from UK tax.


INSOLVENCY

UNTAPPED

TOOL

Could statutory interest change payment culture?

BY GIUSEPPE PARLA

THE Late Payment regulations allow

for interest and compensation to be

added to overdue debts. The idea was

first introduced by the Government

under The Late Payment of

Commercial Debts (Interest) Act

1998, however statistics showed that

it was, and still remains, an underused part of our law.

The facts

In March 2025, Creditsafe reported that 86% of businesses

faced up to 30% of their monthly invoices falling overdue.

The Government suggested in September 2024 that UK

SMEs lose £22,000 annually to overdue invoices and 56

million hours of lost productivity chasing the invoices.

Given the state of the economy, it is unlikely that these

figures are improving.

What is a Late Payment?

In the absence of a written contract a “Late Payment” is

defined by statute as one that is paid 30 days from the

later date of either the invoice being received, or the

goods or services being delivered.

Why is payment not chased?

There are so many invoices outstanding, why are firms

not chasing and seeking compensation for late payments?

It is a question of commerciality. Just like the statutory

demand tool available to us if we are owed money,

claiming for late payment interest or compensation is

potentially damaging to any business when you are trying

to build an ongoing relationship.

However, with the common rule of thumb used by many

financial advisors to improve cashflow, ‘you can do this

by collecting your book debts quickly and by paying

your liabilities later’, when will the forbearance elastic

band snap? Surely building a culture of a better payment

practice is more beneficial for our economy as a whole.

What could it be worth?

Interest and compensation can be recovered on the

following bases per statute:

• Statutory Interest: If a payment is late, the supplier is

entitled to statutory interest, which is 8% plus the Bank

of England base rate, for the period the debt remains

unpaid.

• Fixed Compensation Fees: In addition to statutory

interest, a supplier can claim a fixed sum for debt

recovery costs. The amount of this fee varies by the

debt's value:

• £40: for debts under £1,000

• £70: for debts between £1,000 and £9,999.99

• £100: for debts of £10,000 or more.

The interest and compensation apply to each invoice, so

whilst the sums appear nominal, they can quickly escalate

if the volume of invoices produced by a company is high.

What should I do?

If you are being faced with significant delays in being

paid, consider the following:

1. Does this relationship need to continue for the benefit

of the business?

2. Should interest and compensation be considered?

3. Instruct solicitors and consider a letter before action.

4. Is it time for a statutory demand?

Is this legislation used in an

insolvency scenario?

During an insolvency process, obviously any relationships

with the debtors are severed, so for an Insolvency

Practitioner to pursue late payments, and to recover

debts that have not been paid to the firm in financial

trouble. There is no requirement to consider the firm’s

relationships with its debtors other than understanding

whether the company is still operating. Recoveries can

turn into quite a significant asset realisation for the

estate, depending on the ledger.

In conclusion

This is not just a call to action for credit

controllers to consider and be aware of

this legislation, it is also a reminder to your

accounts payable teams to ensure they are not

pushing the limits too far.

Author: Giuseppe Parla is a Business

Recovery Director and Licensed Insolvency

Practitioner at Menzies LLP.


BEST PRACTICE

SOMETHING

TO COMPLAIN

ABOUT?

Complaints have become a crucial issue as the

financial-services sector and its regulators struggle to cope with

the volume – so where should we look for best practice?

BY STEPHEN KIELY

THE latest figures for complaints

made to the Financial

Ombudsman Service (FOS), make

stark reading for the industry:

The FOS has revealed lenders

are some of the most complained

about organisations, and the

numbers are growing rapidly.

The total number of new complaints to FOS jumped

53% from 165,957 in 2023 to 254,218 in 2024. This

was driven by the banking and credit sector, with

complaints up 83% from 110,235 in 2023 to 201,776 in

2024.

Erin Sims, financial services sector analyst at RSM,

concludes that there is still considerable work for the

industry to do: “The introduction of the Compulsory

Reimbursement Scheme, which mandates banks to

reimburse victims of APP (Authorised Push Payment)

fraud under certain conditions, has likely encouraged

more consumers to challenge decisions and escalate

unresolved cases to FOS.

“While the scheme aims to protect consumers, it has

also created a new layer of complexity in determining

liability, leading to more disputes. Collaborative

efforts between financial institutions, telecoms and

tech platforms to disrupt fraud networks at the

source will be essential to reduce such illicit activity

at scale and restore consumer confidence in digital

payments.”

She says that motor-finance complaints - particularly

those related to undisclosed or unfair commission

arrangements - continue to be a major issue. Following

heightened regulatory focus and media attention,

consumers have become more aware of potential misselling

in this area.

FOS has seen a surge in complaints where consumers

allege they were not informed about commission

structures that may have influenced the cost of

their finance agreements. Erin warns: “As we await

the Supreme Court’s ruling on motor lenders’

discretionary commission payments, we may see

complaints continue to rise.”

Coping with the numbers

It is certainly a complex area, where both the industry

and the regulators are working to adapt. Even FOS

acknowledges that high demand is impacting the

speed at which complaints can be handled and is

recruiting additional case workers as well as trying to

develop digital services to meet the challenge.

FOS also admits its finite resources have too often

been spent handling thousands of withdrawn

and abandoned cases, mainly from professional

representatives. As a result, it has recently introduced

charges for professionals who bring more than ten

complaints a year.

James Dipple-Johnstone, interim chief ombudsman,

acknowledges: “Financial services have evolved

significantly since we were set up 25 years ago. New

financial products, the digitalisation of services, and

an increase in fraud and scams mean that we now see

high levels of demand and an increasing number of

complex cases. “That is why we are working closely

with HMT Treasury and the Financial Conduct

Authority (FCA) to ensure the system – including the

vital role our service plays within it – is fit for the

future.”

Modernising redress

In July, the FCA and FOS announced that they were

seeking to modernise the financial redress system to


CREDIT MANAGEMENT

help prevent it from becoming overwhelmed. Their

new proposals aim to:

• Improve collaboration between the FCA and FOS

to ensure consistency in the way regulations are

interpreted. This includes a new referral process to

increase transparency about regulatory alignment,

as well as a lead complaint process to look at novel

and significant complaint issues as they emerge.

• Offer clearer guidance to firms on reporting issues to

the FCA sooner, alongside good practice examples

to help identify and resolve complaints.

• Give guidelines to help industry quickly identify and

begin to resolve a situation with wider implications

that could spike complaints.

• Change the ways that FOS processes complaints to

ensure they are well-evidenced and ready before an

investigation begins.

Announcing the proposals, Sarah Pritchard, Deputy

Chief Executive at the FCA, said: “When something

goes wrong, it is right that people are compensated.

But a lack of certainty in the financial redress system

can hold back investment and innovation.”

FOS has seen a surge

in complaints where

consumers allege they

were not informed about

commission structures

that may have influenced

the cost of their finance

agreements.

Stem the tide

These proposals were announced as the Government

put forward its own wider plans on how to reform

FOS, given the large number of consumer complaints

it is now receiving. The Government’s consultation

includes plans to:

• Adapt FOS’s ‘fair and reasonable’ tests.

• Give the FCA more flexibility to manage mass

redress claims, including pausing complaintshandling

without industry consultation.

• Introduce a formal mechanism for FOS to refer

issues from its casework to the FCA regarding the

interpretation of the FCA’s rules when there is

ambiguity in their application.

• Allow firms and complainants to refer an issue to

the FCA for clarity on its rules before FOS issues a

final decision.

• Introduce an absolute time limit of 10 years for

bringing cases to the FOS, with some exceptions, e.g.

where they involve longer-term products.

• Final decisions on compensation claims are currently

made by the FOS and firms can only appeal through

a costly judicial review. Chancellor of the Exchequer,

Rachel Reeves in her June Mansion House speech,

however, suggested Government would in future

hand the final decision to the FCA.

• Banks and financial firms have called for the

reduction of the FOS’ powers, including cutting

the time limit for complaints, and amending its

legislative obligation to resolve complaints based on

what is ‘fair and reasonable’ in all the circumstances

of the case.



BEST PRACTICE

“Our findings suggest a significant gap between

FOS’s reported figures and the actual outcomes

experienced by complainants. This could

undermine public trust in an essential consumer

protection body.’’

A Treasury spokesman clarified that the FOS would

still play an important role in providing a quick and

informal route to resolve disputes, but that “changes

are needed for greater predictability and clearer

expectations on redress for all parties”. Naturally,

Matthew Maxwell Scott, Executive Director of the

Association of Consumer Support Organisations,

the trade body for professional representative firms,

believes strongly that any decision to charge his

members a fee to submit a customer complaint in

the civil justice system should be reviewed.

Speaking when the proposed charge was announced,

Scott said: “This is a premature decision, which

will only serve to increase customer detriment and

unfairly reduce the number of complaints submitted.

Financial services businesses will likely celebrate as

a result, with many consumers forced to abandon

attempts to seek redress.

“It seems extraordinary that FOS has announced its

plans before the hugely important Supreme Court

appeal decision on the motor-finance scandal, the

hearings for which only begin on the day the FOS

fees will be imposed.

“Given that the FCA is already working on options

for a comprehensive redress scheme, FOS should

have waited until the judgment is handed down and

the FCA’s position made clear.

“FOS believes it will benefit to the tune of £3m a

year as a result of its decision and by refusing to

recognise poor behaviour by financial services firms.

Perhaps what is most concerning, however, is that

the chancellor and HM Treasury appear also to be

taking sides in favour of big business and against

consumer interests.”

Inflated success

The move comes after FOS came in for criticism

last year, suggesting that it had been inflating its

reported success rate for complaints by a third.

Researchers at Warwick University found that

around 33% of the FOS cases they studied were

‘inflationary’ upholds, where the ombudsman rejects

the substance of the complaint and compensation

claim, but records the decision as upholding the

complaint.

For banking and payments complaints, the

inflationary rate rose as high as 48% and the research

concluded that at least one ombudsman appeared

to have been aware that cases where no additional

compensation was awarded should have been

recorded as not upheld, even as he was recording

some of these cases as being upheld.

The academics argue that this echoes reports on

sites like TrustPilot, where FOS has received an

exceptionally low score of 1.3/5 and is frequently

accused of bias and unfairness.

One academic, who led the study, says: “There is clear

evidence that FOS is deliberately inflating the success

rate that complainants can expect by reporting cases

as upheld, even when the complaint is essentially

rejected and either no additional compensation or

tokenistic compensation is awarded. “Our findings

suggest a significant gap between FOS's reported

figures and the actual outcomes experienced by

complainants. This could undermine public trust in

an essential consumer protection body.

“In the case of some ombudsmen, it seems that

nearly all of their upholds are of this type, meaning

that the chance of a genuinely successful outcome if

a complaint is referred to these ombudsmen is close

to zero.”

Lender concerns

All the discussion over the regulatory framework

should not, however, blind us to the fact that there

are still real questions for the industry to answer on

complaints. As is so often the case, while the new –

often fintech – players push the boundaries to grow

and develop the industry, it is also they who provoke

the most complaints.

FOS’s figures show that, for the second half of 2024,

the most complained-about lenders were all fintech

firms: Revolut, Monzo, Wise, Starling, and Zopa.

Revolut topped the list, receiving 3,397 complaints


CREDIT MANAGEMENT

in the last six months of 2024, a slight increase from

the 3,193 complaints it received in the first half of

the year. Monzo was second, with 3,396 complaints,

mainly related to mortgages and home finance. This

number also increased from the 2,843 complaints

lodged in the first half of 2024.

However, when the figures for motor finance were

revealed in May this year, two more established

players, Vanquis and Barclays, topped the list.

Vanquis had the highest total at 17,614. This follows

the lender reporting a £34.8m loss in 2024, after

costs related to complaints significantly impacted

its earnings.

Best practice

But, if the concerns are very real, there is, as always,

good advice available to support the industry as it

works towards best practice in complaints handling.

Recently, analysts at Huntswood conducted a

major piece of research on dealing with complaints,

particularly from vulnerable customers. It found

that:

• Identification is not easy – up to 44% of customers,

in their batch of complainants, were vulnerable,

however, 67% of that vulnerable customer

population did not even know it themselves.

Further to this, 78% of complaint-handlers felt

confident in identifying vulnerable customers,

whereas over half (51%) of consumers did not

believe their firm recognised they were vulnerable.

• It is emotional - when looking at vulnerable

customers in particular, their complaint journeys

start from a more negative emotional baseline than

their non-vulnerable counterparts. At resolution,

vulnerable customers - where complaints are

resolved to their satisfaction - tend to be less

trusting of their provider than their non-vulnerable

counterparts, while those whose complaints are not

resolved to their satisfaction feel more sadness, but

less anger than their non-vulnerable counterparts.

• Customer impacts – the research looked at various

aspects of the complaint journeys of vulnerable

customers, especially regarding retention. Overall,

vulnerable customers are less likely to stay with their

firms—only 51% report remaining with their firm

at the conclusion of their complaint, compared to

60% for non-vulnerable customers. When looking

specifically at how vulnerable customers were

treated, there was a marked difference in retention

between those who felt their firm did enough to

help, given their circumstances, and were treated

with respect, with 77% retained. In contrast, only

28% and 32% of those who felt firms did not do

enough or that they were not treated with respect

were retained.

Head of Insight, Craig Kock, points to certain factors

as being key to success in complaints-handling:

• Good quality vulnerability training for customerfacing

staff.

• Make it easy for customers to complain, ensure you

have multiple channels, and keep wait times low.

• Try to resolve complaints at the first point of

contact, if possible.

• Do more to support vulnerable customers by

having robust policies and processes in place.

• Define what a good outcome looks like for different

types of vulnerable customers.

• Monitor customer outcomes by conducting endto-end

outcomes testing and regularly reviewing

management information.

Conclusion

Financial services is a high-profile industry sector

dealing with millions of consumers, many of whom

are at different stages of vulnerability, so it will

always be the case that complaints are a crucial

concern for the industry and its regulators.

It is positive that these regulators are taking a

pragmatic approach to how they should deal with

complaints-handling, while not stifling an industry

that is at the heart of potential economic growth,

but the industry should also continue to play its

part, to ensure that it is making the fairest and most

transparent decisions that it can.

Author: Stephen Kiely is a freelance business writer.

It is positive that these regulators are taking a

pragmatic approach to how they should deal

with complaints-handling, while not stifling

an industry that is at the heart of potential

economic growth.


FRAUD

BUILDING

DEFENCES

AGAINST

FRAUDSTERS

Staying one step ahead of sophisticated criminals defrauding the

construction industry requires more than checking credit scores.

BY MELANIE YORK

FRAUD in the construction industry

is fast-moving, creative – and often

costly. When products can vanish

before invoices are processed, credit

control is more than a numbers

game, it’s frontline protection against

fraud, loss, and reputational damage.

For Tarmac, the UK’s leading sustainable construction

solutions and building materials business, that

protection comes from a dedicated and experienced

team determined to outsmart increasingly sophisticated

criminal operations.

Lisa McKenzie, Senior Manager in Credit Control, and

Simon Howell, Senior Manager for Credit Risk, are two

of the people at the heart of this effort. Together, they’ve

helped reshape the company’s credit operations – with

fraud prevention and robust processes at the centre of

their work. Along the way, they’ve not only evolved how

Tarmac deals with risk, but the credit control team has

also earned CICM accreditations for its efforts.

Inherent risks

The industry has a number of credit risks: “We sell

building products like bricks and blocks, or building

materials such as aggregates, concrete, and asphalt in

bags which can be ordered, transported and moved

quickly. Unlike packaged goods, once a product is in a

hole, or on the floor, there is no retention of title – you

can't get them back,” explains Lisa.

It means fraud is a persistent threat across the industry.

Credit teams need a robust set of fraud detection

processes for prevention rather than simply focusing on

recovery.

Simon Howell explains there are three main types of

fraud, all of which involve exploiting a potential lack of

awareness about how credit teams can be duped – and it

can happen to anyone.

The first is identity theft, with someone using an account

that isn’t theirs. Tradespeople often call from a building

site to order materials for the next day, so fraudsters from

an outside location and in a hurry can easily be mistaken

as genuine. Fraudsters will provide information to try

and make themselves look legitimate. The order team

will then begin processing the order and, if it’s placed

and delivered, the fraudster will collect the goods, and

either use them on their own building project or sell it

on.

The size of scams in the industry can range from a

single bag of concrete to materials worth hundreds of

thousands of pounds. Suppliers will only find out what

has happened a few days later, when the customer who

has been defrauded will call to complain about being

charged for an order they didn’t make. But by then, the

fraudster has moved on to the next supplier.

The best protection is to train staff about the different

types of fraud and to look out for any unusual behaviour.

Anything out of the ordinary is a red flag, for example, if

a customer who typically operates in and around London

suddenly starts ordering supplies in Birmingham, or

begins ordering different materials, such as asphalt for a

concrete company, or even something as simple as a new

name on an account. This training provides awareness of

the potential scam and the signs to look for, which is

a similar approach to advising vulnerable consumers to

watch out for strange email addresses or being wary of

someone who asks for personal details.


CREDIT MANAGEMENT

If something feels amiss or seems suspicious, the team

will call the customer to check the details of the site or

the supposed employee, only to find the fraudster has

used the customer's details several times with multiple

suppliers. Training the order teams reduces those

fraudulent incidents from two to three attempts a week

to almost nothing.

When the order is placed and processed by the order

team, Tarmac also applies a second set of checks to

validate the request, which will capture almost all

fraudulent orders. Tarmac also has its own fraud

investigators, and it employs various systems and

processes to prevent fraud from happening.

Organised fraud

The second type of fraud is long firm fraud. A ‘business’

is set up for the sole purpose of fraud, and the period

for setting it up is typically two to three years. These

are run by criminal gangs who continuously set up such

companies so that as soon as one is discovered and shut

down, they have another one ready to go.

These gangs are sophisticated and will manipulate

credit scoring and credit referencing systems. Typically,

there will be very little activity on the accounts for the

first few years, then in year four, for instance, there is a

sudden burst of activity, and their recommended credit

limit goes off the scale.

To identify this type of fraud, and support Tarmac’s

Credit Management team’s experienced eye, an

approach that goes beyond the typical basic credit score

is used and CompanyWatch’s anti-fraud tool, Vigilance,

detects common indicators of company fraud. It looks

for risky behaviour patterns in the company’s history,

such as errors in the filing of company accounts, a rapid

succession of directors, or, based on Benford’s law, finds

statistical anomalies in the frequency of numerical

digits used.

The credit team not only uses Vigilance but also helps

refine the tools: “CompanyWatch’s anti-fraud tools are

very good at highlighting what we need to look at, and

we provide examples which they use to refine their

algorithms,” says Simon.

Using these techniques, a blend of scientific, datadriven

processes and the team’s enhanced awareness

and suspicion, Tarmac has found approximately 30% of

new applications were potentially fraudulent in a single

two-week period.

Purchase to pay

The third type of fraud involves the ‘purchase to pay’

process, where fraudsters impersonate suppliers, like

Tarmac, via a letter or email and request that bank

details are changed. Undetected, this redirects payments

to the fraudster’s own account. These losses can reach

hundreds of thousands of pounds.

Checks and balances are in place to tackle this. The

Purchase to Pay team verify bank details using their own

systems and tools, followed by probing phone calls to

gather essential information and generate accurate data.

“It has the potential to threaten a customer relationship

because they have paid money to a fraudster and that

money has disappeared,” says Simon. “We ask both

customers and suppliers that if anyone contacts them

with a change of bank details, to phone their normal

contact at Tarmac before doing anything to verify the

change, even though our bank details haven't changed

in 30 years or more.”

The size of scams in the

industry can range from

a single bag of concrete to

materials worth hundreds

of thousands of pounds.

Suppliers will only find

out what has happened a

few days later.



FRAUD

Driving excellence

Behind these processes and evolving defences is a credit

team shaped by experience and continuity. At the centre

of that is Lisa whose deep understanding of the company,

passion for credit control, and focus on team development

have helped create a culture where fraud awareness,

professionalism and progress go hand in hand.

Lisa, now a Senior Manager in Collections, began her

finance apprenticeship at Tarmac 34 years ago after

leaving school. Although she hasn’t stayed with Tarmac

continuously, she kept returning to the place where she

began training to become an accountant and having

completed her Association of Accounting Technicians

(AAT) qualifications she chose to stay and begin her

career in Credit Control.

Lisa McKenzie, Senior Manager in Credit

Control, and Simon Howell, Senior Manager

for Credit Risk

Back then she worked with a phone, a printed ledger, a pen,

paper, and a green-screen computer that stored customer

accounts; “I practically knew everybody’s phone number

by heart and my postcode knowledge was perfect,” she

added. Early on, Lisa learnt how to build relationships

with customers. and found she enjoyed ensuring payments

were made on time.

With the company’s support, she took CICM (Chartered

Institute of Credit Management) courses and now

encourages her team to do the same, viewing the

qualification as a valuable alternative to a degree.

After ten years with Tarmac Lisa joined photocopying

services company, Toshiba Imaging Solutions where she

progressed to become the Billing and Revenue Manager,

before returning to Tarmac as a Credit Control Supervisor

in 2005. When Tarmac merged with Lafarge in 2013, she

moved to Assa Abloy, managing the credit control team

and gaining export experience for four years before

returning again to Tarmac.

Her former manager, Karen Chosz, called one day about

an opportunity to rejoin the credit control team at Tarmac

and help improve processes. Lisa jumped at the chance:

“Tarmac’s in my blood,” explained Lisa, “I started when I

was 17 and this business has been with me throughout my

career ever since.” So, she returned as Accounts Receivable

Manager.

Raising the standard

Aside from strengthening many of the credit management

team’s processes to protect both Tarmac and its customers

from fraud as much as possible, Karen Chosz, Lisa’s boss,

also aimed to achieve CICM accreditation. This began

with a visit from the CICMQ team: “They came to brief

the team and set them on the path with a cash challenge,

which created a real buzz in the office,” explained Lisa.

“We have carried out that cash challenge every year since,

reaching millions of pounds in recoveries a month.”

As Karen and Lisa began developing processes and

structures and driving results, COVID-19 emerged,

bringing with it the challenges of running a business

remotely. But the experience had its upside: “As a

collections team, we really grew. We put in structures and

collected cash as a business rather than just credit control

or collections, building a number of strong stakeholder

relationships that we still have today.”

The entire accreditation process had to be completed

remotely, including the presentations, but the team was

successful, and Tarmac received accreditation in 2020.

They also won the 2021 award for high performance at the

CICM Awards.

By the time Tarmac’s next full accreditation was due, the

CICMQ assessment process had been updated – with

75 lines of criteria that had to be evidenced with policy

documents, training programmes, and so on. On the

day of the assessment, the entire team contributed, and

in February, they learnt they had not only passed but

received a merit. “We had moved on from a pass, and this

reaccreditation demonstrated we were advancing,” says

Lisa. “I was really pleased, and we know what we need to

improve to get a distinction. Our goal is to be a centre of

excellence.”


Thursday 5 February 2026

The Royal Lancaster, London

KEEP YOUR EYES PEELED FOR

THE SHORTLIST ANNOUNCEMENT

ON THE 10 TH NOVEMBER

FOLLOWING A RECORD BREAKING 2025 EVENT THE

CICM BRITISH CREDIT AWARDS ARE BACK FOR 2026!

The British Credit Awards recognise the stand out achievements of the most deserving

individuals, teams and organisations in the international credit industry. Join us as we

celebrate your achievements and recognise all the hard work you have achieved this year.

INTERESTED IN GETTING INVOLVED AND SPONSORING

THE CICM BRITISH CREDIT AWARDS?

• Create new business opportunities - target

new customers as well as re-energising current

relationships

• Exposure and profile - benefit from high-profile

branding to the entire UK credit industry before,

during and after the event

• Increase your credibility through association with

the credit industry’s leading association and awards

• Gain valuable profiling in Credit Management

Magazine through awards-related editorial coverage

and post-event write-ups

• Gain critical advantage over your competition

by sponsoring the category most relevant to you

To find out about the exceptional range of sponsorship opportunities available at the CICM British Credit Awards

please contact Will Bolton to request a copy of our full sponsorship information pack.

Will Bolton – Business Development Manager

T: +44 (0)207 484 9796 | E: will.bolton@incisivemedia.com

LATE PAYMENTS

ENFORCING

FAIR PAY

How successive Governments have

tried to resolve late payment.

BY ASHLEY SMITH

LAST month, I outlined why, at the

Micro and Small Business level, late

payments lead to uncontrollable

feelings (stress) resulting from

granting trust to a buyer who fails

to perform to contract. In this

article, I will outline how successive

Governments have attempted to resolve the matter,

concluding with current thoughts and the future

approach to bring a change in culture.

An interest problem

Whilst trade and payment have been around for

potentially as long as human beings, it is not until

1964 that member states of the United Nations agreed

international law on the sale of goods. In 1980 during

the Vienna Convention, member states agreed that the

seller is entitled to interest without prejudice to any claim

for damages. The convention was not able to agree on

the specific rules due to the legal interpretation of the

distinction between damages (Article 74) and interest

(Article 78), with specific reference to the rate of

interest and the date it would apply from. The reason for

this was two-fold: Islamic states were subject to Shariah

law which expressly forbids interest. Furthermore,

problems related to what rate to apply when the country

of origin and the destination country had different

interest rates. The matter was left for local arbitrators/

courts to decide the geographic place of supply and

thus the prevailing rate in the party’s country. A further

question between member states was whether interest

should be awarded to compensate the supplier for losses

or penalise the buyer for unjust enrichment; that is,

whether the prevailing rate of borrowing money or the

rate of investing money should be applied.

In 1974, the Law Commission was asked to review the

application of interest in the UK. The output of which

was the introduction of the Administration of Justice

Act 1982, which included provisions giving courts

discretion to apply interest from the commencement of

proceedings.

Prompt payment codes

In 1993, the Department of Trade and Industry issued

a consultation paper seeking proposals to address

late payments. The consultation recognised the

difference between payments beyond the agreed credit

period (Late payment) and periods that are imposed

unilaterally by a dominant customer, e.g. long payments.

Whilst respondents were marginally in favour of

statutory interest, the Government preferred to adhere

to the Confederation of British Industry’s Prompt

Payment Code (the forerunner of all subsequent PPC),

supporting this with a short-lived Trading Standard

that was in place between 1996 and 1998.

After further extensive studies were undertaken during

that time, John Major concluded that:

“The problem is that many of the possible solutions

cause as many difficulties as they solve. We have to make

sure that what we do makes things better not worse”.

The debate continued with the Conservatives and

New Labour taking different stances in relation to the

right to charge interest. It was not until 1997 that the

incoming New Labour introduced The Late Payment

of Commercial Debts Act (LPCDA), enabling the right

to claim interest. The debate on the act’s introduction

and effectiveness continued with both parties having

differing views, but with each agreeing that the

legislation would probably be ineffective due to the

power dynamics between buyer and supplier.

Introducing fixed penalties

Europe adopted similar legislation in 2003, enabling

the supplier to additionally claim a fixed charge.

Subsequently, the UK updated LPCDA, adding the

right to charge a fixed penalty of £40 for a debt under

£1,000, £70 for a debt between £1,000 and £10,000 and

£100 for a debt over £10,000. These rates have not been

updated in over 20 years. In an attempt to address the

power imbalance, the Government issued promotional


CREDIT MANAGEMENT

There is one issue

which year after year

tops the list of budget

representations made

to all of us by the small

business community,

the problem of late

payment…

Chancellor, Kenneth Clarke

budget Speech 1993.

supporting documents advising suppliers to use the

Statute of Limitations Act 1980 when applying interest

and penalties. The recommendation was that businesses

afraid of upsetting their clients could wait until the end

of the trading relationship and then retrospectively

claim interest and penalties for each invoice that had

been paid late in the preceding six years. (five years in

Scotland).

The LPCDR was initially promoted by a consortium

of Government and public bodies working together

under the banner of the Better Payment Practice

Group (BPPG) funded by the Department of Trade

and Industry. The group published information and

findings on its website from 1997 to 2008, when it was

disbanded by Peter Mandelson in favour of the third

iteration of the PPC administered by the Institute of

Credit Managers.

Reporting payments

When the Conservatives returned in 2010, they again

promised to tackle the spectre of late payments. Their

approach led to a number of consultation papers,

including ‘Build a Responsible Payment Culture’, ‘Duty

to Report on Payment Practices and Policies’, and

‘Late Payment: Challenging grossly unfair terms and

practices’. The upshot of these was a raft of changes,

including the introduction of the Small Business

Commissioner, a requirement for large businesses to

report payment data, and a rebranding of the Prompt

Payment Code under the control of the Department

for Business and Trade, and the Procurement Act

2024. How effective these polices have been is open

to debate, but each iteration has certainly been a step

in the right direction. My own view is that a lack of

cohesion between all the legislative amendments and

risk aversion to taking bolder steps has diluted the

overall success.

The next step

When Labour returned in 2024, they once again

proclaimed that they would address late payments

and take the next step towards change. I am therefore

heartened that current thinking is to amend the

LPCDA to enable the compulsory payment of interest

and penalties, utilising auditors as watchdogs for

compliance, and introducing tighter anti-abuse

controls. To ensure success, proposals also give the

OSBC enhanced powers to investigate and fine large

companies that pay late, or who fail to pay the interest

that they are due to pay. The intent of the changes isn’t

to give extra interest to small businesses (although it

does), but it is to ensure that contractual obligations

are fulfilled, thus improving cashflow within the

economy and finally bringing about a change in late

payment culture.


ENGAGEMENT

BETTER

BY DESIGN

How modern, AI-powered affordability assessments

build trust and customer engagement.

BY RACHEL CURTIS


CREDIT MANAGEMENT

FOR years, the Income & Expenditure

(I&E) form has been regarded as one

of the least engaging aspects of credit

management. Lengthy, intrusive,

and often administered at the worst

possible moment, it has felt like a blunt

compliance instrument rather than a

tool for resolution. Yet today, affordability assessments

are a priority area for regulators, creditors, and collection

professionals alike, and for good reason.

The Financial Conduct Authority (FCA) has long required

firms to assess affordability, but its Policy Statement

PS24/2 sharpened expectations around borrowers in

financial difficulty. These rules don’t reinvent the wheel

but build on existing requirements, demanding earlier

engagement, sustainable repayment plans, and explicit

consideration of foreseeable changes in circumstances.

The consequences of falling short are clear. In October

2024, the FCA fined TSB Bank plc £10.9 million for

historic failings in its treatment of customers in arrears,

including deficiencies in affordability assessments and

the setting of potentially unsustainable repayment

plans. Earlier in May 2024, HSBC UK, HSBC Bank and

M&S Financial Services received a £6.28 million penalty

for similar historic shortcomings in their approach to

customers in financial difficulty.

Although the failings date back several years, the recent

fines are a clear signal of the FCA’s continuing focus

on this area: lenders are expected to maintain robust

affordability checks, offer realistic forbearance options,

and ensure that customers in arrears are treated fairly.

Importantly, this focus is spreading beyond financial

services. Energy regulators such as Ofgem have embedded

‘ability to pay’ principles into their debt and vulnerability

guidance, mirroring the approach taken in consumer

credit. Other sectors are watching closely. Affordability

is becoming a common framework for how industries

assess and support customers under financial stress.

Traditional I&Es

Despite their importance, traditional I&E processes are

riddled with problems. They are often completed via

phone calls at inconvenient times, with agents asking

customers to recall entire budgets from memory. Picture

this: you’re collecting your children from school when the

phone rings. An agent asks, “How much do you spend on

household bills each month?”

The cognitive load of completing an I&E under these

conditions is enormous. Few people can accurately

calculate such figures on the spot. Under pressure,

customers provide estimates or disengage entirely.

Worse, the process often amplifies shame. Discussing

spending with a stranger at a stressful moment leads

many to retreat, avoid, or abandon the process. The result

is inaccurate or incomplete affordability data, precisely

what regulators want to avoid.

Self-service

Consumers increasingly want to engage on their own

terms. Evidence shows that many prefer to complete

financial tasks in the quiet hours, once children are in

bed, the house is calm, and they finally have headspace

to focus.

Digital self-service tools are answering this demand.

In fact, post-pandemic, the use of web portals for debt

resolution has surged. In his article “Breaking the Silence”

(Credit Management, September 2025), Dave Heathcote

highlights that usage of such portals has increased by

more than 200%. Customers want the flexibility to

complete I&Es at their convenience, in private, without

the pressure of a phone call.

AI and the reducing

of cognitive load

Artificial intelligence is enhancing this shift.

Conversational AI can guide customers through an I&E

in manageable steps, reducing the cognitive burden and

encouraging honesty. Perhaps most important is the

lack of judgement. Studies suggest that people disclose

more openly to conversational agents than to human

advisors, precisely because they fear less criticism or

embarrassment.

Early pilots in healthcare and therapy contexts have

shown similar patterns: clients often ‘say more’ to

AI than they would to a professional, because they

feel safe from judgement. This has obvious benefits for

debt resolution. Shame and fear are two of the biggest

reasons customers avoid engagement. If technology

can reduce those feelings, accuracy and trust both

improve.

Digital self-service tools are answering this

demand. In fact, post-pandemic, the use of web

portals for debt resolution has surged.



ENGAGEMENT

Engagement through design

Avoidance is the enemy of resolution. In fact,

Heathcote’s article cites Equifax data showing that 92%

of people seeking debt advice wish they had engaged

sooner. The challenge is not convincing people that

affordability matters, it’s helping them overcome the

inertia of shame and procrastination.

This is where empathetic design matters, small ‘wins’

along the way can make completing an I&E feel less

like drudgery. Language matters too: swapping cold,

bureaucratic wording for empathetic phrasing can

lower resistance and encourage honesty.

Together, these techniques turn the I&E from a

compliance exercise into a journey of self-discovery,

giving customers clarity and reassurance along the way.

Enforcement: re-engagement

through affordability

For those who have already moved beyond early

engagement and into enforcement, the I&E remains

vital. Enforcement professionals often encounter

customers at their lowest point, when trust is eroded

and dialogue has broken down.

Here, a refreshed I&E, especially in a digital, self-service

format, can re-open conversation. It can underpin

realistic repayment plans and reduce conflict.

For enforcement agents, this turns the I&E into a

de-escalation tool. Rather than a blunt demand for

payment, it becomes a structured opportunity to

explore resolution. In many cases, that shift in tone can

change the trajectory of the case.

Consistency and compliance

Modern, technology enabled I&Es also provide

consistency. Every customer is asked the same core

questions, calculations are handled uniformly, and

audit trails are automatic. This reduces the risk of error

and strengthens regulatory confidence.

For regulators, whether the FCA, Ofgem, or others,

this blend of empathy and robustness is precisely

what they want to see. Fair treatment requires not

just compassion but also accuracy, transparency, and

repeatability.

A cultural shift

Affordability assessments are no longer a marginal

compliance requirement. They are at the heart of how

industries engage with customers in difficulty. The

FCA’s Consumer Duty, the TSB fine, and cross-sector

moves by regulators such as Ofgem have all elevated

their importance.

But beyond compliance, there is a bigger prize:

engagement. When designed with empathy, technology,

and user psychology in mind, the I&E can prompt

disclosure earlier, encourage re-engagement later, and

build trust throughout.

For credit, collections, and enforcement professionals,

that means the I&E should not be feared or dreaded. It

should be re-imagined as an invitation: an opportunity

for customers to see their circumstances clearly, explore

options safely, and take a step towards resolution.

Author: Rachel Curtis is CEO of Inicio AI

Artificial intelligence is enhancing

this shift. Conversational AI can

guide customers through an I&E

in manageable steps, reducing the

cognitive burden and encouraging

honesty.

Rachel Curtis


COUNTRY FOCUS

on France

Channelling

through to France

More than just a neighbour France is a gateway

of commercial opportunity.

FRANCE and the French. Where do

we start? Famous for so many things –

the Eiffel Tower that many Parisians

originally considered an “oversized

steel monstrosity’’ which disfigured

the city, artists including Cézanne,

Matisse and Renoir, food such as

the croissant, coq au vin and fragrant cheeses, fine

wines and champagne, the Tour de France, and, of

course, Asterix the Gaul.

There’s so much that this story of 2000 words could

be about nothing else – just detail about what

France is known for.

A history of revolution

Going back in time, Cro-Magnon man

inhabited what is now France during the last

ice age. Traces of humans can also be found

from 4500BC, with more ‘recent’ evidence

for 2000BC, and the Gauls from 900BC who,

disunited via 60-odd tribes, weren’t hard for

the Romans to conquer the region in 121BC –

starting in the south. By the mid-3rd century

Roman influence had waned and in 406,

Germanic tribes settled the area.

Then came the Franks - in northern France

first – around 500, with Paris becoming the

capital in 507. The first Frankish kings – the

Merovingians – were soon replaced by the

Carolingians in 751 among whom Charlemagne was

the most well-known after forging a European empire.

When he died, his empire was divided into three – the

western part becoming France.

Next came Capetian kings and separately William,

Duke of Normandy, who conquered England. Medieval

France grew in influence and by the 16th century had

become richer and more populous.

By the 17th century France had an absolute monarchy

which, deeply unpopular, was later overthrown in the

1789 revolution. That too was seen off by a Napoleonic

empire, a restoration of the monarchy, a second republic,

a second empire, a third republic that ran from 1870 to

1940, Vichy France – that collaborated with the Nazis, a

fourth republic in 1947, and from 1959 a fifth republic.

With the current state of the French economy and

the real potential for protest and strikes – a national

pastime – it’s perfectly possible that a sixth republic

may be with us soon.

Mixed Terrain

With a land area – including dependencies

(French Guiana, Guadeloupe, Martinique,

Mayotte and Reunion) – of 640,427 km2, France is

ranked 42nd in the world, above Somalia (627,340

km2) and below South Sudan (644,329 km2).

As the CIA World Factbook notes, mainland

France is squarish and “slightly more than four

times the size of Georgia; slightly less than the

size of Texas.”

Our nearest continental neighbour – just 20 miles

away across the English Channel at its closest

point – France is bordered by Andorra (border

of 55 km); Belgium (556 km); Germany (418 km);

Italy (476 km); Luxembourg (69 km); Monaco (6

km); Spain (646 km); and Switzerland (525 km).

Mainland France’s terrain is mostly flat plains or

gently rolling hills in the north and the west, and

mountainous in the south (including the Massif Central

and the Pyrenees) and the east (the country’s highest

points being in the Alps). As for climate, in the east

the climate is continental. Summers are warm, with

some thunderstorms, and winters are cold. Along the

Atlantic seaboard there is an oceanic climate.

Brave | Curious | Resilient / www.cicm.com / November 2025 / PAGE 25 continues on page 26 >

COUNTRY FOCUS

Extensive Infrastructure

France has a dense web-like transportation network

that has Paris at the centre. There is a total of 28,000

km of railway in France, mostly operated by SNCF;

French railways are subsidised by the state. The highspeed

network – as of 2021 – is some 2,800 km in length.

Every day, French trains carry more than 5m passengers

and 300,000 tonnes of freight.

As for roads, there are around 1,000,960 km. The

motorway system consists largely of toll roads, except

around large cities, in Brittany, in parts of Normandy,

in the Ardennes and in Alsace. It is a network totalling

12,000 km road operated by private companies. There

are also 30,500 km of trunk roads and state-owned

motorways.

In the south, the climate is Mediterranean with hot

summers and mild winters. The autumn often brings

thunderstorms and heavy rain that can lead to flooding.

Changing demographics

The 2024 estimate of the population – from Statista –

was 68.61m. In comparison, it stood at 40m in 1900,

38.5m in 1920, 40.4m in 1940, 45.67m in 1960, 53.86m in

1980 and 59.01m in 2000. Dips around World War’s One

and Two are noticeable.

According to the Institut national d'études

démographiques, the population pyramid for 2021

demonstrates an issue for many developed countries –

aging.

There’s a middling size base, a slight bulge between ages

5 and 20, a gentle constriction which is in places almost

vertical to 50, a tapering to the 2 o’clock position to age

75, and a final stronger tapering to the peak.

As for the sexes, to the untrained eye it looks as if they

are reasonably well balanced, but on closer inspection,

there are marginally more males to age 25, marginally

more females from 25 to 50, but then a good proportion

more females from 50 and upwards. Notably, France has

– according to Institut national de la statistique et des

études économiques – nearly 7m immigrants that make

up 10.3% of the population. Paris, Lyon and Marseille are

the largest centres for these peoples.

Given that France is officially secular, data on religion

hasn’t been collected in more than 150 years. Even so,

the CIA World Factbook reckons that Roman Catholics

make up 47% of the population, Muslims 4%, Protestants

2%, Buddhists 2%, Orthodox 1%, Jews 1%, other 1%, none

33%, and unspecified 9% (2021 estimate.)

Data on the number airports is hard to fathom, but it’s

thought that there are around 500 of which many are

very small and unsuitable for commercial operation.

Connexion France states (2022) that there are 148 useable

airports, 54 with European (commercial) certification

and they’re generally evenly spread around France

except for the southwest from the Pyrenees to La

Rochelle where there are noticeably fewer.

A fragile economy

The French economy is not in a good place

and it’s not helped by state spending which is

currently at 58% of GDP. In comparison, the

UK spends around 45%. Overall public debt

was 113% of GDP in 2024 and is likely to

be 118.4% by 2026 (says the EU). Another

prime minister has just resigned and

there’s a reasonable chance of protests

and strikes if the new government

tries to make changes to revitalise the

economy.

That said, inflation is low at 0.9% –

something that the UK Government

would like to see. Notably, even

during the post-Covid peaks that the

world saw, inflation didn’t go above

6.3% (February 2023) according to

Trading Economics.

As for GDP, Macrotrends has it as

$61.76bn in 1960, $694.53bn in 1980,

$1.361tn in 2000, $2.648bn in 2020

and is expected to be $3.211tn in 2025.

Business sectors

Aerospace

Business France states that the aerospace sector is “the

largest contributor to the French trade balance” and

is of strategic importance. It notes that “France is the

only country, along with the United States, to have a

complete aerospace industry, including the design,

production and maintenance of civil and military

aerospace equipment.”


CREDIT MANAGEMENT

Overall, it earned €77.7bn in revenue in 2024

(Groupement des Industries Françaises

Aéronautiques et Spatiales data) through more

than 1000 firms that employed some 210,000

people. Firms to note are Airbus, Intelsat,

General Motors, Safran Electronics & Defense,

Avionics USA, and Volocopter. These firms

rely on a multitude of sub-contractors. Many

are located in aerospace valley in and around

Bordeaux and Toulouse. But there are other

areas to note including ASTech Paris Région

and the SAFE Cluster (Provence-Alpes-Côte

d’Azur).

Agriculture and food

A September 2025 publication from the EU

detailing the size of the agricultural sector in France

– said “the value of its agricultural production is

among the highest in the EU, adding up to €72.9bn.”

There are some 456,000 farms with an average of 69

hectares collectively run by 708,170 farmers. Overall,

28m hectares is farmed.

Interestingly, Business France states that the sector

accounts “for 18% of the total production of the 27

member countries, ahead of Germany (13.4%), Italy

(12.3%) and Spain (10.6%).” It adds that revenues in

2023 were €198bn but given the disparity with the EU

data (above), this likely includes not just agriculture,

but also food processing. The sectors with the highest

production value are wine, milk, cereals and cattle.

On wine, ReportLinker projects that revenue

will be €27.7bn by 2028, up from €22.6bn in 2023.

Internationally, Italy, Spain, and Germany follow

France as leading markets. However, French wine

production is anticipated to drop to 4.39m metric tons

by 2028, down from 4.48m metric tons in 2023.

Tourism

Given that France is blessed with incredible vistas, great

food and reams of history, it’s no surprise that tourism

is important to the country; it has so many distinct sites

that a ‘top 20’ wouldn’t be sufficient to list them.

The World Travel & Tourism Council (WTTC), in a

2025 report, said “travel and tourism in France surpassed

all previous records across economic contribution,

employment, and visitor spending, solidifying the

country’s leadership as the world’s most visited

destination.”

It’s data noted that the sector contributed €266.2bn to

the French economy in 2024, 10.1% above 2019 levels and

equivalent to 9.1% of the national GDP. It also supported

3m jobs - 300,000 more than in 2019.

International visitor spending reached €72.5bn, while

domestic visitor spending was €142.1bn. It’s reckoned

that 2025 will see it contribute €274.2bn to GDP and

employ 3.1m.

Wrap up

There’s no two ways about it, France is a market that

any self-respecting British exporter should be wanting

to be involved in.

Yes, there are post-Brexit complexities to deal with

– especially in relation to food, but there’s hope

that they will be softened given the EU/UK recent

rapprochement. And, of course, there’s the need to bow

to the French desire to maintain the integrity of the

language. Even so, France is close making it the perfect

commercial destination.

Author: Adam Bernstein is a freelance finance writer

for Credit Magazine magazine.

Automotive

Fance led the way in kickstarting the global automotive

sector. Now Pragma Market Research reckons that

France's automotive manufacturing ranks fifth in the

European Union, although it has lost some momentum

recently, particularly after the 2008 financial crisis.

It also reports that the sector comprises of some 418

companies.

French automotive production now represents 8.3% of

the global share, significantly higher than 2013-2014

levels (around 6%).

However, ReportLinker states that French

vehicle production is expected to decline slightly,

reaching about 2.1m units by 2028, down from

roughly 2.2m units in 2023. ReportLinker also

notes that in 2023, France was ranked 11th

globally in vehicle production, with Spain

slightly ahead at approximately 2.2m units. The

United States, Japan, and Germany took the second,

third, and fourth spots in the global ranking,

respectively.


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strengthen client relationships.

T: +44 (0) 1622 600 921

W: www.stainternational.com

For further information

and to discuss the

opportunities of entering

into a Corporate

Partnership with the

CICM, please visit:

www.cicm.com


International Trade

Monthly round-up of the latest stories

in global trade by Andrea Kirkby.

US court rules many of

Trump’s tariffs are illegal

A US appeals court has ruled that most

tariffs set by President Trump are illegal.

The decision affects Trump's so-called

‘reciprocal’ tariffs, imposed globally on

most countries, as well as other tariffs

placed on China, Mexico and Canada.

The US Court of Appeals for the

Federal Circuit did not agree with

Trump’s argument that the tariffs

were permitted under an emergency

economic powers act.

However, the ruling does not take

effect until 14 October, to give the

administration time to ask the US

Supreme Court to take up the case.

In typical form, Trump criticised the

appeals courts saying: “If allowed to

stand, this Decision would literally

destroy the United States of America’’

and “Today a Highly Partisan Appeals

Court incorrectly said that our Tariffs

should be removed, but they know the

USA will win in the end.”

Trump had justified the tariffs under

the International Emergency Economic

Powers Act (IEEPA), which gives the

president the power to act against

“unusual and extraordinary’’ threats.

The court said the IEEPA “neither

mentions tariffs (or any of its

synonyms) nor has procedural

safeguards that contain clear limits

on the president's power to impose

tariffs’’. The power to impose taxes and

tariffs therefore continues to belong to

Congress.

But if the tariffs are finally declared

illegal, the question is, will firms get their

money back? US Treasury Secretary

Scott Bessent said they would, but

others suggest that the process will be

difficult and will require the gathering

of a lot of paperwork and segmenting

claims according to tariff code. And then

there’s the 314-day time limit to contest

tariffs charged.

Aviation firm gets UKEF backing

A loan guarantee from UK Export

Finance has helped 3TOP Aviation to

secure a £20m investment to take its

sustainable aircraft aftermarket services

overseas.

The company, based in Leatherhead,

acquires mid-to-end-life aircraft and

engines for onward trading, leasing and

refurbishment. As part of its operations,

it also dismantles aircraft and rebuilds the

associated components for onward sale

to clients.

It employs 18 staff in Surrey plus 16

outside the UK and wants to grow into

new global markets and product lines

such as new generation aircraft. With the

UKEF-backed financing, 3TOP Aviation

will expand its UK workforce by 20% and

relocate some of its warehouses in France

and the US to a larger site in Leatherhead.

£65M * ON POST-BREXIT

FOOD * EXPORT LICENCES

According to recent data published

by the Department for Environment,

Food and Rural Affairs (DEFRA), UK

firms spent close to £65m last year on

licences to export food and agricultural

products to the EU.

DEFRA’s figures suggest that 328,727

export licences were issued in 2024,

each costing between £113 and £200.

That means that somewhere between

£37m and £65m was paid by British

firms.

However, the Government is planning

to have the regime removed as part of

a new agricultural and food products

agreement with Brussels that may be

finalised by 2027.

A DEFRA report published with the

figures said the costs of export licences

had hit smaller businesses particularly

hard as they “often lack the capacity

and economies of scale to manage

the administrative and compliance

demands associated with non-tariff

measures.”

SRT MARINE SYSTEMS

WINS OVERSEAS DEALS

UK Export Finance says that it has

provided support to SRT Marine

Systems to enable it to secure two

major international contracts worth

approximately €350m, and which may

lead to 50 new high-tech UK jobs at the

company.

The firm, based in Midsomer Norton

in Somerset, specialises in advanced

surveillance technology. It creates

artificial intelligence (AI)-driven

integrated maritime surveillance

systems for sovereign entities such

as Coastguards and other national

maritime agencies.

UKEF’s help was for Indonesian and

Kuwait projects of €157.9m was for the

delivery of its SRT-MDA System national

integrated maritime surveillance system

solution to the Indonesian Coastguard.


US slaps 25% tariffs on metals

SINCE 18 August, UK steel and aluminium

manufacturers have begun to face

hundreds of millions of pounds in

additional costs per year after President

Trump extended Section 232 measures.

These impose a 25% duty on a wide range

of finished goods, including construction

machinery, automotive components,

pumps, compressors and even furniture.

The move was lobbied for by the

American steel industry.

And it looks like one of the worst

affected may be JCB – a construction

equipment maker and one of the UK’s

largest private companies. Industry

groups also warn of repercussions

for the renewables sector, with wind

turbine suppliers and other clean energy

manufacturers exposed to higher costs.

The US market for UK goods affected

is estimated to be worth £1.5bn. It’s

concerning that the tariffs applied to

products already in transit. While the tariff

on UK firms is unwelcome, it is harsher for

non-UK exporters of such goods, where

the tariff is even higher at 50%.

If exporters cannot prove the percentage

of metal content in goods at the point

of entry, US Customs may levy the tariff

on the full value of the product. This will

be tough for manufacturers of complex

machines made from thousands

France might wreck the economy

Scottish salmon exports of £1bn

DATA from Salmon Scotland suggests that

Scottish salmon exports could surpass

£1bn for the first time as demand rises

from the United States, China, Canada and

elsewhere.

The data shows that sales abroad rose

by 33% to £941m in the 12 months to

June, and in the first half of 2025 alone,

exports were worth £528m.

The US market grew by 110% in the first

half of 2025 compared to the same period

FRANCE is in a mess and has been for some

time. “La vie est belle” may be the ideal, but

another Government has just collapsed and

riots to protest emergency tax rises are likely.

The problem is viciously high levels of

Government debt and the unaffordability of a

lavish welfare system.

Former prime minister François Bayrou

spent time telling the public that change was

necessary and suggested making a start by

scrapping a couple of bank holidays and slowing

the rate at which state spending increased, but

got nowhere – even though state spending has

hit 58% of GDP and the tax burden on workers

is 47%.

Worryingly, this is not just a French problem

but rather, one that could even crash the global

economy.

Shares in French banks are down, which

indicates that the markets are not confident

about France’s prospects. It doesn’t help that

the Government holds 71% of ‘tier 1 capital’ in

French banks – any loss here could collapse a

bank and could lead to a run on the banks.

Because banks are internationally linked in the

markets, a fall in one could spread and catch out

banks in other countries.

Just as problematic, because France is tied

to the euro, it cannot devalue to cut the cost of

debts while making exports more attractive.

Firms should be very careful not only

about who they trade with and their level of

indebtedness, but also their own gearing so that

should a situation arise, they can withstand any

downturn.

last year to £190m. China was up 75% to

£74m, Taiwan grew 45% to £17m, and

Canada increased by 1,300% to £21m.

France, however, is the top export

market and takes 45% of Scottish salmon.

Overall, EU exports dipped 7% to £423m

but non-EU markets rose by 106% to

£518m. Scottish producers are now

looking at the Indian market following the

UK’s proposed free trade agreement with

the country.

CREDIT MANAGEMENT

HOW THE UK AND EU

CAN OPTIMISE TRADE

AND COOPERATION

THE Chartered Institute of Export &

International Trade has published a new

report – Reimagining UK-EU Trade and

Cooperation – which details how “the

UK and EU should build on the recently

refreshed political goodwill … and use

the upcoming review of the post-Brexit

trade agreement to form a long-lasting

trading relationship.”

The report identifies that there are

“significant opportunities to make

trade work better for both UK and

EU exporters, reducing friction and

restoring the conditions for growth.”

It suggests aligning the UK’s Trade

Strategy with the EU Customs Reform

programme, simplifying rules of origin in

the TCA, and making the most of trade

digitalisation opportunities.

END OF US DE MINIMIS

EXEMPTIONS TO HURT

EXPORTERS

PRESIDENT Trump’s decision to axe

the ‘de minimis’ rule will mean a

big increase in costs for companies

exporting to the US, says the British

Chamber of Commerce (BCC).

Following the end of the $800 dutyfree

threshold for goods exported

to the US, firms will have to pay

“hundreds of millions of pounds”

in extra administrative fees alone

each year, according to the BCC. It’s

worried that the move will be similar

to Brexit for companies in terms of

shock to trade; firms will be required to

purchase customs declaration forms

for each item sent, while importers

will have to pass on the extra costs to

customers.

The president acted as more than

1.4bn parcels entered the US under

the $800 limit from across the world.

Customs declaration forms vary

depending on the goods being

exported but cost, on average, £30

per parcel. The most recent estimate

of the value of goods shipped from

the UK to the US under the de minimis

exemption was £5bn a year in 2021.


DATA PROTECTION

NAVIGATING

DATA PROTECTION

COMPLIANCE

The ICO’s new practical guides are designed to help companies

avoid common mistakes and meet their legal obligations.

BY ANN CRITCHELL-WARD

IN today's digital landscape, safeguarding

personal data is paramount. The Information

Commissioner's Office (ICO) has recently

introduced nine comprehensive toolkits,

alongside an audit framework, to assist

organisations in assessing and improving their

compliance with data protection laws.

Organisations processing personal data need to be aware

of their obligations and how the toolkits can help them

meet their legal requirements.

In the world of business, accountability and transparency

are the building blocks of trust and the trust of stakeholders

is the key to a successful operation. As consumers become

more and more aware of their data protection rights, so

the impact of data breaches is felt in falling share prices

and the hefty costs of re-establishing trust in the market.

This was a hard lesson learnt by SAGE, an accounting

and software firm. In 2016, the market’s response to its

notification to UK and Irish customers of a data breach

saw its share price fall by approximately 4%.

Overview of the ICO Toolkits

The ICO's toolkits are designed to guide organisations in

aligning their operations with data protection laws. Each

toolkit focuses on a specific aspect of data protection,

providing practical guidance and self-assessment tools. The

toolkits work together to create certainty for organisations

that want to implement best practices in this field.

Accountability

This toolkit helps organisations demonstrate compliance

with data protection principles. The ICO recognises that

fostering a culture of respect for the rights of data subjects

and compliance with data protection legislation starts

with the leadership. It ties the governance obligations

of directors and senior leadership to their development

of strategic objectives for the organisation. With the

obligations of leadership made clear, it emphasises the fact

that data compliance isn’t an ‘add-on function’ delegated

to a department; rather, it is a way of thinking that every

single person in an organisation must adopt. Recognising

that organisations need to create a safe environment

where people can confidently make decisions about data

processing, it emphasises the importance of implementing

appropriate technical and organisational measures,

maintaining up-to-date policies, and conducting regular

audits.

Taking into account the legal and reputation risks to

organisations that are found to be non-compliant,

organisations can build trust with stakeholders and

mitigate potential risks by fostering a culture of

transparency and accountability.

Records Management

Effective records management ensures that personal

data is accurate, up-to-date, and accessible when needed.

This toolkit provides guidance on creating, storing, and

disposing of records in compliance with data protection

regulations. It highlights the significance of maintaining a

comprehensive Record of Processing Activities (RoPA) to

facilitate transparency and accountability.

Once again, the ICO makes it clear that it expects

organisations to assign oversight responsibilities to

senior leadership and operational responsibilities to an

appropriate manager. Managing personal data and the

records that contain it is not something which can be

delegated to junior members of staff as a tick-box exercise.

The ICO recommends that records management be a

standing item on senior management meetings.

A key takeaway from this toolkit is that records

management must be more than a stale policy cobbled

together from generic templates or by inexperienced

people within the organisation. Rather, it needs to be a

living document, dealing with the specific operations

of an organisation, which informs every aspect of an

organisation’s data responsibilities, ranging from data

collection to its disposal or deletion.


CREDIT MANAGEMENT

In the event of a data

breach, swift and

effective action is

essential. This toolkit

guides organisations in

establishing processes

to detect, report, and

respond to personal

data breaches.

Information and cyber security

Protecting personal data from unauthorised access

and breaches is crucial. This toolkit offers strategies

for implementing robust security measures, including

encryption, access controls, and regular vulnerability

assessments. It also underscores the importance of

developing an incident response plan to address potential

security incidents promptly.

Organisations cannot assume that they will never face

cyber security risks. It is easy for businesses to outsource

this concern to external software providers without

taking the time to assess whether the advice sought and

products bought match how the organisation operates.

While the supply of software and cyber security processes

can be outsourced by an organisation, responsibility

cannot. Human error is the most common gateway to

cyber security risk. Organisations cannot assume that all

users of email, the internet and even bespoke internal or

client-facing software have the same skills, knowledge or

experience to recognise attempts to breach information

networks or respond to cyber-attacks.

Ongoing training must go side by side with policy

frameworks, system security and the general management

of cyber security.

Training and Awareness

The ICO’s expectations for continuous training of an

organisation’s workforce are such that, in addition

to being included in each toolkit, it receives its own

designated toolkit. A well-informed workforce is a

cornerstone of data protection compliance.



DATA PROTECTION

This toolkit emphasises the need for regular training

programs to educate employees about data protection

principles, organisational policies and their specific

responsibilities. By fostering a culture of awareness,

organisations can reduce the risk of data breaches

caused by human error.

One-off onboarding training, or even periodic

training that hasn’t been updated to reflect changes

in data protection legislation, does not amount to

compliance with an organisation’s data protection

obligations. The ICO’s website provides up-to-date

statutory guidance, as well as information on decision

notices and enforcement actions taken, which offer

insight into the data breaches organisations have

experienced and the consequences brought to bear by

the ICO. This is critical information to be included

in formal training and communicated to staff on a

regular basis.

Data sharing

Sharing personal data with third parties requires

careful consideration. This toolkit provides guidance

on establishing data sharing agreements, assessing the

necessity and proportionality of sharing activities,

and ensuring transparency with data subjects. It

complements the ICO's Data Sharing Code of Practice,

offering practical steps to facilitate lawful and secure

data sharing.

When concluding operational agreements with

suppliers, organisations often see data protection

clauses or policies as merely ‘boilerplate’ requirements

which are tacked onto an agreement. In reality, data

sharing is a minefield and ought to be front and centre

when establishing business relationships. The risks

associated with sharing information are significant.

Data subjects must know that their data is being

shared and be given details about the purpose of the

data sharing and the identity of relevant parties.

As consumers become

more and more aware

of their data protection

rights, so the impact of

data breaches is felt

in falling share prices

and the hefty costs of

re-establishing trust in

the market.

An organisation’s obligations to data subjects and

the risk involved in not ensuring that external

arrangements are compliant cannot be overstated.

However, data sharing risks can lie far closer to home,

where employees do not understand the legalities

involved in data sharing and may innocently disclose

data in contravention of an organisation's obligations.

Policies and training must be in place to provide

employees with the confidence in and understanding

of data protection requirements in this area to make

appropriate and compliant decisions about data

sharing.

Requests for access (Subject Access Requests - SARs)

Individuals have the right to access their personal data

held by organisations. This toolkit assists organisations

in developing procedures to handle SARs efficiently

and within the statutory timeframe. It covers aspects

such as verifying the identity of requesters, locating

relevant data, and providing clear responses.

The right to access personal data is foundational

to a data subject. Organisations that process bulk

information are often better prepared in this field as

the proper handling of SAR’s must form part of their

business model.

Organisations that think SARs will be infrequent

and so don’t consider their obligations in this regard

put themselves at risk. Often, training in this area

is disregarded or weak, and a ‘let’s cross that bridge

when we come to it’ attitude prevails. The consequence

of this thinking is that when data subjects enquire

about their personal information, employees may not

recognise these enquiries as SARs, which may result

in the organisation breaching its obligations through

ignorance.

Personal Data Breach Management

In the event of a data breach, swift and effective

action is essential. This toolkit guides organisations in

establishing processes to detect, report, and respond

to personal data breaches. It outlines the criteria for

notifying the ICO and affected individuals, as well as

measures to prevent future incidents. Organisations

may well dread their stakeholders’ response to a data

breach notice, but a failure to make full disclosure of

a personal data breach (including reporting it to the

ICO when necessary) will have dire consequences.

Artificial Intelligence (AI)

The use of AI presents unique data protection

challenges. This toolkit helps organisations navigate

the complexities of AI by addressing issues such as

fairness, transparency, and accountability. It provides

practical advice on conducting Data Protection Impact

Assessments (DPIAs) for AI systems and ensuring

compliance with data protection principles. AI is

constantly evolving, and organisations must dedicate

resources to staying abreast of these changes and

developing governance and operational frameworks

that are practical and compliant.


CREDIT MANAGEMENT

Cross-department collaboration

Data Protection is a collective responsibility that

spans various departments, including IT, HR, legal

and marketing. Establishing cross-functional teams

facilitates comprehensive compliance efforts, ensuring

that all aspects of data processing are considered and

addressed.

Despite the ICO’s best efforts, practical implementation

of the toolkits may be overwhelming for some

organisations. Data protection is often neglected

because of perceived cost implications or a lack of time

to dedicate to this process in the cut and thrust of doing

business.

If anything, the toolkits make it clear that there is more

to data protection than a generic policy and a few lines

in supplier or employment agreements. The toolkits

are there to make sure that organisations recognise the

importance of data protection and the duty they owe

to their stakeholders in protecting the data entrusted

to them.

Regular reviews and updates

Data protection is an ongoing process. Organisations

should schedule regular reviews of their data protection

policies, procedures, and practices. Staying informed

about regulatory changes and emerging risks enables

organisations to adapt their compliance strategies

proactively.

Age-appropriate design

Protecting children's personal data online is a critical

concern. This toolkit assists organisations in complying

with the Age-Appropriate Design Code, ensuring that

online services likely to be accessed by children are

designed with their best interests in mind. It covers

topics such as data minimisation, transparency, and the

need for robust parental controls.

Application of the toolkits

Integrating the ICO's toolkits into organisational

practices requires a strategic approach.

Tailoring compliance strategies

Organisations should assess their specific data

processing activities and risks to customise the guidance

provided in the toolkits. This involves identifying areas

of vulnerability, prioritising actions based on risk levels

and allocating resources accordingly.

Using the audit framework

The ICO's audit framework includes downloadable

data protection audit trackers for each toolkit area.

Organisations can use these tools to conduct selfassessments,

identify compliance gaps, and monitor

progress. Regular audits help ensure that data protection

measures remain effective and up-to-date.

Common pitfalls in data

protection compliance

Despite best intentions, organisations often encounter

challenges in Data Protection compliance. They can

fail to maintain accurate records. Neglecting to keep

comprehensive records of processing activities can

lead to compliance issues. For instance, inadequate

documentation may result in difficulties demonstrating

compliance during audits or investigations.

Similarly, they may have an inadequate data breach

response. Delayed or insufficient responses to data

breaches can exacerbate the impact. Organisations

that lack a clear incident response plan may struggle

to contain breaches and fulfil their notification

obligations, leading to regulatory penalties.

Insufficient staff training is another issue. Employees

who are unaware of their data protection responsibilities

can inadvertently cause breaches. Regular training is

essential to ensure that staff understand policies and

procedures, thereby reducing the risk of human error.

Summary

The data protection regime is, in principle, nothing

new and has been in existence for decades. These new

toolkits acknowledge that organisations and make

mistakes – deliberate or accidental – and aim to help

them improve compliance.

Author: Ann Critchell-Ward is Partner and Head of

Commercial Practice, Wright Hassall


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BRANCH NEWS

REVVING UP

YOUR CREDIT

CICM Southern Branches

BY TRACEY WESTELL FCICM

ENGINES roared, coffee flowed and

credit professionals from the South

gathered once again on 18 September

2025. The Kent, Sussex and Thames

Valley CICM branches joined forces

for another high-octane event at

the legendary Brands Hatch circuit,

despite the best efforts of public transport and the M25 to

slow them down.

A Legendary Setting

Brands Hatch, home to the Grand Prix and British Touring

Car Championships, is preparing for its centenary in

2026. It was the perfect backdrop for a day focused on

speed, endurance and precision values that every credit

professional knows well. From the moment delegates

arrived, greeted with hot coffee and buttery pastries, the

buzz was electric. Watching cars tear around the track

added a fitting soundtrack while our delegates took part

in some “speed networking” with business relationships

built in record time.

Inspiring Speakers

The first speaker, Sean Doggett, CEO of Cyber Vigilance,

captured attention with his dynamic talk on cybersecurity

- a topic that’s as hot as a racing engine. His journey

from university thesis to thriving business was a tale

of persistence and adaptability. Sean’s story of success,

setback, and restart struck a chord with many who’ve had to

pivot post-Covid. Next up, Tim Annis, CEO of Bluechain,

shifted gears to explore the future of B2B payments. From

a background in television to leading a fintech company,

his insight into the £26 billion owed to UK companies

and the 13 million hours spent chasing payments was both

staggering and motivating. With businesses increasingly

relying on credit cards to stay afloat, Tim’s message was

clear, payment innovation is no longer optional.

Lunch and Laps

Lunch was, as always, a highlight, a spread of delicious food

and the chance to continue conversations overlooking the

track. Networking and horsepower made a surprisingly

harmonious combination.

The Final Lap

The afternoon session featured Simon and Jake Hill

from Team Hill, sharing their journey through the world

of motorsport. From financial strains to sponsorship

struggles, their story echoed the challenges faced by

many businesses. Passion, cashflow discipline and sheer

determination fuelled their success, culminating in Jake’s

2024 British Touring Car Championship win. As he now

moves onto the international stage, delegates wished him

every success.

Crossing the Finish Line

As the chequered flag waved, one thing was certain – the

Southern Branches had delivered another standout event.

Inspiring speakers, valuable networking and a touch of

racing magic proved that credit management can be as

thrilling as life on the track. Here’s to keeping our engines

running smoothly until next year!


CONSUMER

A DIGITAL

PARADOX

Time for a behavioural reset so that bad banking user

experience doesn’t sabotage UK savings.

BY MATTHEW PARDEN

THE UK has one of the most digitally

engaged populations in the world.

Nearly everyone with a bank account

now manages some aspect of their

money online, and for younger

generations, mobile banking is not

a convenience but the default. Yet

beneath the surface of digital adoption lies a stubborn

paradox: despite more apps, alerts, and dashboards than

ever before, millions of Brits remain financially fragile.

The numbers speak for themselves. One in three banking

customers has abandoned a mobile app altogether

because the experience was either confusing or stressful. A

similar proportion (34%) have gone further and switched

providers entirely. For a sector that prides itself on scale

and security, the message is stark: poor user experience is

no longer a minor irritation; it is a key business risk.

The consequences, however, run deeper than churn rates

or app store reviews. Bad banking user experience (or

UX) is not just losing customers - it is actively sabotaging

people’s ability to save, plan, and build resilience. At a time

when nearly a third of Gen Z report dipping into savings

just to stay afloat, the role of digital platforms in shaping

everyday financial behaviour cannot be overstated.

UX matters more

than interest rates

Banking leaders often assume that customers are primarily

motivated by price: better interest rates, lower fees, or the

occasional cash-back perk. Yet research consistently shows

that experience trumps rates. PwC has found that 61% of

customers choose where to bank based on the quality of

the user experience, and Oracle reports that 89% would

switch providers after a poor one. McKinsey estimates banks

could increase revenues by 20-30% simply by improving

digital journeys.

Why such disproportionate impact? Because, unlike

interest rates, user experience is lived in real time every

day. A poorly designed app that makes it hard to track

progress, a transaction flow that feels unintuitive, or

notifications that generate stress instead of clarity can all

trigger the same outcome: disengagement.

This will result in disengaged users who rarely become

good savers. UX is therefore not just about aesthetics; it

is about whether people can develop the financial habits

that underpin long-term stability.

The behavioural blind spot

Thinking about the way traditional apps present

information, balances are always visible, inviting

temptation. Transfers are frictionless in theory but

overwhelming in practice. Saving ‘pots’ often sit in

the same interface as spending accounts, blurring the

boundary between long-term goals and short-term

wants.

These design defaults assume rational users who will do

the ‘right’ thing with money if given the tools. However,

behavioural science tells us otherwise. Humans are

emotional, easily swayed by present bias, and prone to

avoidance when stressed. As 29% of Brits now report that

households are juggling essential costs, the emotional load

of money management can be exhausting.

The result is predictable: people dip into savings, abandon

apps that make them feel inadequate, or give up on

planning altogether.

A different approach

The future of finance isn’t about piling new features onto

outdated platforms, but about creating tools shaped

around how people truly think and feel about money.

That is why Marygold has been built from the ground

up as the UK’s most emotionally intelligent money

management app. Working with experts such as financial

psychotherapist Vicky Reynal, we have developed

adaptive tools that take the behavioural reality of saving

seriously, such as:

• Nudge: real-time prompts that encourage users to stick

with their saving plans, without guilt-tripping or jargon.

• Time-Lock Protection: a ‘cooling-off’ period that

prevents impulsive withdrawals and shields vulnerable

users from scams.

• Digital Piggy Bank: balances can be hidden to reduce

temptation and reinforce long-term goals.


CREDIT MANAGEMENT

The future of finance isn’t about piling new

features onto outdated platforms, but about

creating tools shaped around how people

truly think and feel about money.

Matthew Parden

Brave | Curious | Resilient / www.cicm.com / November 2025 / PAGE 39 continues on page 40 >

CONSUMER

• Money Pools: intuitive sub-accounts for holidays,

emergencies, or rainy days, helping users organise

savings in ways that feel natural.

Crucially, our unified dashboard allows users to move

money between multiple bank accounts without ever

leaving the interface – a feature no other UK app

currently offers.

The savings crisis

is not just economic

Critics might argue that the real barrier to saving is low

income, not bad design. Of course, stagnant wages, high

rents, and inflation all play major roles, but even among

those with disposable income, poor digital tools still

undermine resilience.

Marygold’s national research highlights the scale of the

behavioural challenge:

• 26% of Brits regularly dip into savings just to manage

essentials.

• 31% of Gen Z rely on savings to stay afloat, making them

particularly vulnerable to design flaws.

• 29% face unpredictable income, making rigid budgeting

tools feel irrelevant.

In this context, emotionally intelligent design is not a

luxury - it is a necessity. If apps can reduce stress, prevent

impulsive withdrawals, and make saving feel rewarding

rather than punishing, the outcomes compound over

time. This approach reflects a broader truth: money is

not just maths. It is about having a unique DNA. For

decades, financial services have treated these factors as

irrational noise to be ignored; however, ignoring them

has delivered a nation where millions live paycheque to

paycheque, and where building even modest savings feels

unattainable.

By contrast, when design acknowledges human

psychology, everything changes. Hiding balances helps

people resist temptation, creating time-locks mimics the

protective frictions of cash envelopes, and personalised

nudges provide the social accountability most people

crave but rarely receive from their bank. Better design

does not mean dumbing down; it means respecting the

realities of how people live.

The competitive

edge of empathy

There is also a hard-nosed business case for empathy.

Banks that invest in emotionally intelligent design will

not only retain customers but unlock growth. McKinsey’s

estimate of a 20-30% revenue lift from improved journeys

is just the beginning. The real prize is trust.

Trust has long been the currency banks struggle to hold.

Rebuilding it requires more than glossy ad campaigns; it

requires apps that feel like allies rather than obstacles.

It requires platforms that reduce stress rather than add

to it, recognising that financial wellbeing is as much

emotional as it is economic.

Looking Ahead

To change the current outcome of the UK’s savings crisis,

what is needed is a behavioural reset – a recognition

that digital finance must be designed for humans first.

We are proud to be part of that reset by combining

behavioural insight with emotionally intelligent tools.

Marygold is proving that better design can deliver better

outcomes, making sure that savings do not have to feel

like punishment. It can feel natural, personal, even

empowering.

Legacy banks also now face a choice. They can continue

to design apps around their own needs – and watch as

customers abandon them in frustration, or they can

embrace the reality that UX is now the frontline of

financial resilience. For the millions of Britons struggling

to save, the stakes could not be higher. Bad UX is no

longer just a missed opportunity; it is an active barrier to

financial health. The sooner we fix it, the stronger, fairer,

and more resilient our economy will become.

Author: Matthew Parden is CEO & Co-Founder,

Marygold & Co.

Bad UX is no longer just a missed

opportunity; it is an active barrier

to financial health. The sooner we

fix it, the stronger, fairer, and more

resilient our economy will become.


www tcmgroup.com

Probably the best debt collection network worldwide

Money knows no borders—neither do we

CAREERS

DECODING

A DECADE

The changing face of Credit Management.

BY NATASCHA WHITEHEAD, FCICM

CREDIT management sits at the

crossroads of finance and business

strategy, playing a vital role in ensuring

organisations maintain healthy

cashflow and minimise risk. But the

industry is facing unprecedented

change, from rapid technological

advances to shifting economic pressures and a tightening

talent pool.

Drawing on insights from our recent survey that looked at

a decade of change in credit management, I’ll explore the

notable challenges credit professionals are encountering

today and offers practical career advice to help credit

managers thrive in this evolving landscape.

Tech adoption

The credit management industry continues to evolve

rapidly, driven by technological advancement and

shifting business demands. When asked what positive

changes they’ve seen in the credit industry over the last

ten years, 78% credit professionals said that the adoption

of automated responses have made their work easier,

followed by nearly half (49%) who said improved data

analytics capabilities has been a positive change for the

industry. Similarly, 42% said the adoption of AI has been

a beneficial change, supporting the way they work rather

than hindering.

Despite the optimism, over half (52%) said keeping up

with rapid innovation will be one of the biggest challenges

within credit management over the next five years. with

41% noting that better access to newer technologies would

help ease that burden.

To stay competitive in this shifting environment, credit

managers must take a proactive and future-focused

approach to their careers. Upskilling in data analytics,

automation tools, and AI-driven decision-making is

becoming essential – not optional. As routine tasks

become increasingly automated, human skills like critical

thinking, communication, and leadership will become

core differentiators. Professionals should seek out CPD,

pursue CICM qualifications, and mentor others to

future-proof their roles and elevate industry standards.

Talent pressures

Skills gaps are putting pressure on the industry with

nearly two-thirds (63%) of respondents saying recruiting

the right talent has been the biggest challenge across credit

management during the last 10 years. This was followed

by 30% who said talent retention had been a major issue,

along with skills shortages (26%). These concerns are

echoed by 24% who said attracting new people into the

industry remains a struggle. Only 11% reported a positive

increase in new entrants, pointing to a shrinking talent

pipeline and the need for the industry to rebrand itself as

a dynamic and rewarding career option.

For credit managers, this presents both challenge and

opportunity. With fewer qualified candidates, those

in the profession can grow into leadership roles by

developing both technical expertise and interpersonal

skills. Supporting junior staff, leading training initiatives,

and promoting the value of credit roles externally can

help close the recruitment gap and strengthen leadership

credentials. Additionally, building skills in employer

branding and articulating credit’s strategic importance

enhances managers' influence both internally and on the

job market – and it’s something employers should think

carefully about.

Economic outlook

The economic environment also weighs heavily on the

industry. Over half of respondents (55%) expect economic

conditions to pose challenges over the next decade, with

51% already feeling the strain. Rising costs are being felt

personally as well, with half of respondents identifying

the cost of living as a major concern, especially given

that wages in the credit function have largely stagnated.

Most professionals surveyed earn between £60,000

and £74,000, yet responsibilities and pressures continue

to rise.


CREDIT MANAGEMENT

As the industry

evolves, those who

combine technical

expertise with strong

interpersonal skills

will not only survive

but thrive.

Despite these challenges, there are positive signs.

Nearly half (45%) said the tough economic climate has

brought greater appreciation and visibility to credit

management. For credit managers, this is a chance

to raise their profile and show their strategic value

in uncertain times. Now is the time to improve skills

in predicting credit risk, managing cash flow, and

explaining credit issues to senior leaders, areas where

credit professionals can have a big impact.

Managers who connect credit strategy to wider business

goals will be better positioned for advancement.

Advocating for fair pay, team wellbeing, and clear

role definitions can also help retain staff and raise

professional standards. In a volatile economy, leaders

who combine insight with empathy will not only

weather the storm but shape the future of credit.

The credit management profession is navigating a

period of significant transformation and uncertainty.

However, these challenges also present unique

opportunities for credit professionals to demonstrate

their strategic value and leadership. By embracing new

technologies, investing in continuous learning, and

championing talent development, credit managers can

future proof their careers and play a pivotal role in

shaping resilient organisations. As the industry evolves,

those who combine technical expertise with strong

interpersonal skills will not only survive but thrive,

driving credit management forward in an increasingly

complex economic world.

Natascha Whitehead, FCICM is Senior Business Director,

Credit Management at Hays


HR MATTERS

ENSURING HR

COMPLIANCE

FOR ATYPICAL

WORKERS

A flexible workforce may be complex to manage, but the

coming Employment Rights Bill is to ensure they receive fair

treatment – whatever their working patterns.

BY GARETH EDWARDS

EMPLOYERS – large and small

– with diverse workforces face

unique challenges in maintaining

compliance with UK employment

law and internal workplace

standards. This is particularly true

for those that rely on weekend

or part-time staff, who often work outside standard

business hours, under varied contractual arrangements,

or through third-party agencies. While the legal

framework aims to ensure fairness and protection

for all workers, applying these standards in practice

requires careful coordination, oversight, and active

engagement.

Given this landscape, what are the practical steps

employers can take to ensure compliance with

employment laws, contracts, workplace policies,

and fair treatment for all staff, including those with

varying working hours? To avoid employment disputes,

employers need to be mindful of legal developments,

such as the forthcoming changes under the Employment

Rights Bill, which introduce new responsibilities for

employers, particularly towards agency workers.

Consistency across

working patterns

A fundamental starting point is recognising that

part-time and weekend workers are entitled to the

same core employment rights as their full-time

counterparts. These include protection from unfair

dismissal (after the qualifying period), statutory sick

pay, national minimum wage, rest breaks, and pro-rata

holiday entitlement. Under the Part-Time Workers

(Prevention of Less Favourable Treatment) Regulations

2000, employers must not treat part-time workers less

favourably than comparable full-time workers unless

this can be objectively justified. This extends to pay,

benefits, training opportunities, and promotion.

For example, a weekend worker should have access to

the same training programmes and performance reviews

as full-time staff. Employers must ensure entitlements

are calculated correctly and not overlooked due to

assumptions about hours worked.

Fair treatment and

avoiding discrimination

Under the Equality Act 2010, employers must ensure

that all employees are treated fairly, regardless of

their working patterns. Employers should proactively

identify and address practices that may disadvantage

certain groups of staff. For employers with a high

proportion of part-time, weekend, or agency workers,

it is important to assess whether workplace systems

and opportunities are genuinely inclusive.

Indirect discrimination may arise where a neutral

policy (such as “all training sessions will be held at 10am

on weekdays”) has a disproportionate impact on parttime

or weekend staff, many of whom may have caring

responsibilities or other protected characteristics.


CREDIT MANAGEMENT

HR compliance often

depends on the actions

of line managers.

In a workforce that

spans different shifts

and days of the week,

some staff may have

limited direct contact

with HR or central

management.

If an employer requires all employees to work weekends,

this could disadvantage certain groups, such as those

with religious observances or caring responsibilities.

Equality impact assessments should be conducted on

workplace policies.

Employers should regularly review:

• Grievance, disciplinary, and appraisal records – are

part-time staff under- or over-represented?

• Promotion and development data – are weekend

workers being left behind?

• Allocation of shifts and overtime – are certain groups

being excluded or preferred?

As well as being good practice, these reviews can

be relied upon if issues were raised or fairness ever

challenged at a later date.

The employment contract

Compliance begins with accurate and legally compliant

contracts. All employees and workers should receive a

written statement of terms on day one of employment,

including details of pay, hours, place of work, and

other key provisions.

Where staff work irregular hours or weekend shifts,

their contracts should set out expected working

patterns or clarify whether the role is zero-hours or

subject to flexible scheduling. Employers should be

cautious not to default to overly generic contracts,

particularly when working patterns differ significantly

from standard office hours. An example of good

practice here could be to include clauses for part-time

and weekend employees that address pro rata holiday

entitlements for part-time workers.

Rest and holidays

Employers must ensure that working hours and rest

breaks comply with the Working Time Regulations

1998. This may be more complex for employees

working weekends or with irregular working patterns.

Employers must monitor working hours to ensure that

appropriate rest breaks are received by all employees.

Some key rights include a maximum working week of

48 hours, a minimum of 11 hours of consecutive rest in

a 24-hour period, 20 minutes of rest for every 6 hours

worked and at least one full day off per week.

These regulations also detail holiday entitlements for

employees and workers. The entitlement is 5.6 weeks'

of paid leave per year, and this can be pro-rated for

part-time workers.

Workplace policies

Ensuring that workplace policies are consistently

applied across a workforce that includes part-time and

weekend staff is a practical compliance challenge.

A key risk is that these workers miss out on vital

communications or training that occur during the

standard working week. For instance, health and safety

briefings or equality training sessions held at 9am

on a Monday will be of little value to those working

evenings or weekends only.

Communication of policies should be done in a way

that reaches all staff groups, including those who work

evenings and weekends. Policies should be accessible

online or in hard copy at work locations. Line managers

should understand their role in cascading information

to all team members, regardless of shift patterns. As

well as awareness of policies, the policies themselves

also need to be considered to ensure they are clear,

consistent and compliant with UK employment law.

Policies should be regularly reviewed and updated to

reflect changes in legislation and workforce needs.

Specifically, grievance and disciplinary policies should

be considered, to ensure they align with the ACAS

Code of Practice. Health and safety policies should

be reviewed, and unique risks posed to evening and

weekend workers (such as working alone) should be

assessed.

Line management

and supervision

HR compliance often depends on the actions of line

managers. In a workforce that spans different shifts and

days of the week, some staff may have limited direct

contact with HR or central management. This makes it

essential that weekend or evening shift supervisors are

properly equipped to apply policies, manage conduct,

and handle issues fairly. Ensuring that line managers

are competent will also support employers in meeting

their duty of care towards the staff being managed.


HR MATTERS

The Employment Rights Bill proposes

wide-ranging obligations for employers,

particularly those managing varied

workforces that include part-time, weekend

or agency staff.

Employers should ensure that:

• All line managers receive training in core HR policies,

including absence reporting, disciplinary processes,

and equality and diversity.

• There are clear escalation processes for concerns

arising out of hours.

• Supervision does not become inconsistent between

weekday and weekend teams, or between departments.

An audit of line management practices may reveal

differences in approach that undermine consistency.

For example, staff working Saturday shifts may not be

included in team performance discussions or may miss

one-to-one meetings.

Ensuring that weekend or shift workers are not

marginalised or poorly supported is both a fairness and

risk management issue.

The Employment Rights Bill

The Employment Rights Bill proposes wide-ranging

obligations for employers, particularly those managing

varied workforces that include part-time, weekend or

agency staff.

Among the most significant changes are new protections

for agency workers, who will become entitled to

guaranteed hours and compensation for short notice

shift cancellations. Responsibility for offering those

guaranteed hours will primarily rest with the end hirer,

except where specific exceptions are introduced through

secondary legislation. Both hirers and agencies will be

required to give reasonable notice of shifts, cancellations

and changes, and agencies must compensate workers

affected by cancellations – though they may recoup

these costs from the hirer if contractually permitted.

For employers, this marks a substantial shift in risk and

operational responsibility.

Organisations that rely on agency workers to manage

fluctuating demand or weekend cover will need to

review staffing contracts, improve rota planning, train

line managers on the new obligations, and prepare for

the financial implications of greater shift security.

The Bill is still in parliament, with further governmentbacked

amendments affecting collective redundancy

consultation, industrial relations, and statutory sick pay.

Notably, employers may be able to contract out of the

new guaranteed hours requirement via a collective

agreement, creating scope for negotiated alternatives.

For evening and weekend workers, the removal of the

lower earnings limit for statutory sick pay (SSP) is

especially significant, ensuring all employees – regardless

of their working hours or earnings – are entitled to SSP.

These changes mean employers must carefully monitor

working patterns, ensure accurate record-keeping, and

update policies to reflect the new requirements. By

proactively addressing these developments, employers

can mitigate risks and ensure fair treatment across all

working arrangements, including those with atypical

hours.

Much of the operational detail will be set out in

future regulations, but employers with non-standard

workforces should start reviewing policies and systems

now to avoid falling behind once the changes take effect.

Conclusion

Employers with diverse workforces face specific – but

manageable – HR compliance challenges. Achieving

compliance in practice requires deliberate effort,

which means reviewing contracts, ensuring consistent

line management, delivering accessible policies, and

preparing for legal reforms.

With the Employment Rights Bill progressing through

parliament and close to being passed, now is a good

time for employers to take stock of their arrangements

– particularly where agency workers and shift-based

staffing models are concerned. Those who invest in

inclusive systems and clear processes will not only

reduce legal risk but ensure a stronger, more cohesive

workforce.

Author: Gareth Edwards is a partner

in the employment team at VWV.


BRANCH NEWS

WILLS, ESTATE

PLANNING AND

PROTECTION

CICM Sheffield & District Branch.

BY RICHARD HOUSE MCICM

IRWIN Mitchell Solicitors’ Sheffield office

opened its doors to the Sheffield & District

CICM Branch on Wednesday 24 September

2025 to provide an in depth and informative

evening tailored around wills, estate planning

and protection for the future.

Gillian Coverley, Head of Partnerships, wills and Probate

within the private client services team of Irwin Mitchell,

gave a valuable insight into why a Will is a necessary tool

to be used to help secure your wishes.

A will is a legal document setting out who will deal with

your estate and who will benefit from it but 60% of UK

adults (31 million people) do not currently have a valid

will. So the topic certainly helped bring to the forefront

why having one early in life can cover most eventualities,

and by not having one your estate may be distributed

by intestacy laws. Important points raised included that

upon marriage any prior will becomes invalid, and an

ex-spouse could still inherit during divorce proceedings

unless the will is revised.

In closing, Gillian summed up that a will should be

worded correctly to achieve your true intentions, that it

should be drawn up by a regulated firm and be kept upto-date

and in a safe place of which executors or trusted

family members have knowledge.

Gillian’s detailed and knowledgeable account of the

current and upcoming amendments across will’s and

Inheritance Tax certainly was invaluable. Everyone who

attended appreciated the information shared and came

away with a greater sense of understanding and for most,

a new job to be added to their “to do” list.

Many thanks to Gillian Coverley of Irwin Mitchell and to

all attending members and guests for making the evening

a great success.

Author: Richard House MCICM, Branch Chair.

After further conversation and lots of questions being

asked concerning the best way to maximise a will’s desired

effect, we moved straight into reviewing Inheritance Tax

and how this can directly affect the estate.

Gillian covered all the main points including the basic

tax-free allowance of £325,000 per individual, the residence

nil rate band of £175,000 per individual, that any unused

tax-free allowance can be transferred to a surviving spouse

and the rate of tax – 40%. Again, more questions were

asked by the attendees to further understand key areas

of interest.

Gifting allowances, exemptions, Business and

Agricultural Relief and gifting dates were all covered in

detail with Gillian giving several examples as to how the

tax calculation can fluctuate given additional charitable

gifts. This immediately highlighted how savings could be

made and value added due to small amendments.


Looking for

your next

career move?

Bilingual French Credit Controller

Manchester, up to £35k

Due to business growth, we have a fantastic opportunity

for a Bilingual Credit Controller (Fluent French & English -

verbal and written) to join a long-established business.

You will manage your own B2B portfolio of clients to ensure

a buoyant and clean ledger, contacting customers by

telephone and email regarding overdue debts, building

relations, and assisting with any queries relating to payments.

Hybrid working with three days in the office, two working

from home. Excellent company benefits. Ref: GF26RT

Contact Joanna Taylor-Coburn on 0161 926 8605

or email joanna.taylor-coburn@hays.com

Credit Controller

Sutton/Epsom, up to £35k + bonus

The Credit Controller role will be reporting to the Credit Control

Supervisor and is primarily responsible for managing circa

300 accounts, with a debtor ledger of approx. £8m per month.

This role includes ensuring timely payments, processing

incoming funds, resolving account queries, and overseeing

debt recovery process. Excellent communication skills and

relationship building ability are required to be successful.

Ref: 4639637

Contact Mark Ordona on 07565 800574

or email mark.ordona@hays.com

Credit Control Team Leader

Basingstoke, up to £36k

Working as part of the wider credit control department,

you will utilise your previous leadership experience to manage

your own team on a day-to-day basis. Remaining hands on,

you will support the team by dealing with escalated queries,

building relationships with key accounts, and continuing to

develop and upskill the Credit Controllers. You will also get

the opportunity to work on processes improvement projects.

Career development, including CICM study package available.

Ref: 4727555

Contact Natascha Whitehead on 0777 078 6433

or email natascha.whitehead@hays.com

Credit Controller

West End in London, £38k - £41k

A leading property management company is seeking a

proactive and detail-oriented Credit Controller to join their

finance team. You’ll be responsible for managing receivables/

collections across a diverse property portfolio (both residential

and commercial), resolving payment queries, and maintaining

accurate records. This is a great opportunity to bring your

property finance experience into a collaborative, fast-paced

environment. Looking for someone ideally with Qube, Yardi

or Sage Intaact. Ref: 4712051

Contact Mithiran Elangco on 0203 465 0020

or email mithiran.elangco@hays.com

This is just a small selection of the many opportunities we have available for credit professionals. To find out

more, visit our website or contact Natascha Whitehead, Credit Management UK Lead at Hays on 07770 786433.

hays.co.uk/credit-control-jobs

© Copyright Hays plc 2025. All rights are reserved.


Legal Biller

London, £45k - £50k

This hands-on role involves full ownership of the billing process

from generating reports and editing proformas to managing

complex invoices and ensuring compliance with HMRC/SRA

rules. You’ll liaise with Fee Earners, Legal Secretaries, and the

Compliance team, handle internal queries, and contribute to

process improvements and change initiatives. Strong time

management, problem-solving, and stakeholder engagement

are key, along with a collaborative approach to supporting wider

Finance operations and transitioning billing responsibilities

across the firm. Ref: 4675668

Contact Ben Court on 0203 465 0020

or email ben.court@hays.com

Credit & Operations Director

Milton Keynes, up to £100k + bonus

A leading Financial Services organisation based in Milton

Keynes is seeking a Credit & Operations Director to lead a large

team. As Credit & Operations Director, you will be responsible

for developing and implementing the credit strategy across

the business unit, ensuring robust compliance, and leading

operational improvements. The ideal candidate will have strong

experience within financial services and a proven track record

in credit and operational leadership. The company is open to

considering ambitious individuals currently in a Head of Credit

or Operations role who are ready to step up into a director-level

position. Ref: 4728275

Discover new

opportunities today

Contact Alicia Maxwell on 01908 870254

or Alicia.maxwell@hays.com


ENFORCEMENT

COMBATING

FRAUD IN

ENFORCEMENT

The impact of fraud on the enforcement profession and

the steps individuals and businesses can take to protect

themselves and the wider public.

BY ALAN J. SMITH

FRAUD is a significant concern

across the economy, affecting

the enforcement and legal

sectors, amongst many others.

We know that fraudsters have

tried to impersonate High Court

Enforcement Officers (HCEOs),

Certificated Enforcement Agents (CEAs), and

HMCTS County Court Bailiffs to solicit payments

under false pretences.

This criminal activity not only harms victims but

also damages the reputation of the courts and the

legitimate enforcement and legal sector businesses.

Fraud’s detrimental impact

Tackling fraud is a team effort. Fraud can have a lifechanging

impact on those caught out by scammers.

The impersonation of Enforcement Agents by

fraudsters can also have a hugely detrimental effect

on genuine businesses. These activities lead to a loss

of trust in enforcement processes, making it more

challenging for certificated officers to perform their

duties.

Fraudsters often use sophisticated tactics, presenting

themselves convincingly by providing what appears

to be authentic documentation and using appropriate

legal terminology. This complexity makes it difficult

for individuals to distinguish between genuine

enforcement actions and fraudulent schemes, further

eroding trust in the system.

Tactics now extend to setting up convincing websites

copied from existing enforcement businesses,

legal practices, and financial institutions (these

can even include hi-tech online payment portals),

and producing highly sophisticated ID cards to

impersonate Enforcement Agents.

Combating fraud

Raising awareness about enforcement fraud is

crucial. Public education initiatives help individuals

recognise the signs of fraud and understand the

correct procedures for enforcement actions.

Resources such as the HCEOA and CIVEA websites,

the Stop! Think Fraud campaign at stopthinkfraud.

campaign.gov.uk/ and the Take Five To Stop Fraud

campaign at takefive-stopfraud.org.uk provide

valuable information and support. Victims of fraud

should report the incident to the police and register

it with Action Fraud to ensure the crime is officially

recorded and investigated.

Professionals in the sector are also targeted for their

personal information to aid scammers in creating

fake ID cards and communication. Knowing the

difference between a genuine request and a suspicious

one can help protect your information and prevent

fraudsters from using your credentials.

Detect and respond to fraud

Individuals and businesses must be vigilant and

informed about enforcement processes to protect

themselves from fraud.

Scams run by criminal organisations are becoming

more sophisticated, but there are some things you

can check if you suspect fraud:


CREDIT MANAGEMENT

Tackling fraud is a team effort.

Fraud can have a life-changing

impact on those caught out by

scammers.

• If the person is claiming to be an HCEO you can

check whether they are listed on our members list, as

well as confirming which enforcement firm they work

for. Double-check the business exists and contact them

using the details listed here to ensure the person is

genuine.

• If the person is claiming to be an Enforcement Agent,

you can ask them for full details of their Enforcement

Agent certificate. You can use the Ministry of Justice’s

Register of Enforcement Agents to confirm these details.

• Consider whether their web address or email address

look genuine. Many scam sites do not end in ‘.com’, ‘.co.

uk’ or ‘.org’.

• Check their office address, a simple Google search

combining the company name and office address on any

correspondence you receive should bring up listings for

a registered office or Companies House details. If you

can’t find this, it could be a fraud.

If you receive a request for your credentials from someone

you don’t know or are not expecting contact from, you

should:

1. Avoid providing any personal or professional details,

including any copies of ID they may ask for.

2. Report the incident to the company you work for to

make sure others are aware in case they are also targeted.

Your manager or compliance team may also be able to

help determine whether it is a genuine request.

3. Raise a case with the police at your local station and

Action Fraud at https://www.actionfraud.police.uk/ .

Enforcement fraud poses significant challenges to both

victims and legitimate businesses. By maintaining

rigorous verification processes, raising public awareness,

and adhering to professional guidelines, the enforcement

and legal sectors can help mitigate the impact of fraud.

Protecting the integrity of enforcement processes is

essential to maintaining trust in the justice system.

Author: Alan J. Smith, is Chair of the High Court

Enforcement Officers Association (HCEOA)


ARE YOU REALLY COVERED BY

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EXCLUSIVE PAYMENT TRENDS

WINS, WOBBLES

AND EVERYTHING

IN BETWEEN

Mixed fortunes across the board in the world of late payments.

BY ROB HOWARD

THE latest late payment

performance statistics across

UK and Irish regions and sectors

highlight the shifting landscape in

the world of late payments. There’s

a bit of everything – those on the

up and those in decline, and in

both instances some of these changes are significant,

as well as those who are standing still with no change

whatsoever, or just a small shift either way. The average

Days Beyond Terms (DBT) across UK regions and

sectors increased by 1.3 and 0.7 days respectively. In

Ireland, average DBT across the counties and sectors

saw a minimal increase of 0.1 and 0.4 days respectively.

Across the four provinces of Ireland, average DBT

reduced by 0.7 days.

Sector Spotlight

It’s a mixed outlook across UK sectors, although

there are more of the 22 sectors going backwards (13)

than forwards (nine). Looking at the positives, the

International Bodies sector saw the biggest uplift and is

now the best performing UK sector. With a reduction

of 5.1 days taking its overall DBT to 2.0 days overall.

The Energy Supply sector is also on the up and moves

into second place on 6.2 days overall following a cut

of 2.6 days to its DBT. At the other end of the scale,

the Real Estate and Public Administration sectors are

on the slide. Real Estate saw the biggest increase (+6.5

days) to take its overall DBT to 12.5 days, while a rise of

5.9 days means Public Administration is now the worst

performing UK sector with an overall DBT of 13.4 days.

In Ireland, the Water and Waste sector, previously

at the bottom of the standings, made the biggest

improvement and shoots up the table, cutting its DBT

by 11.7 days. Elsewhere, the Hospitality (-6.6 days),

Public Administration (-5.8 days) and Agriculture,

Forestry and Fishing (-5.4 days) sectors all made solid

progress. Going backwards fast, however is the IT and

Comms sector. A significant rise of 14.0 days means it is

now the worst performing Irish sector with an overall

DBT of 30.1 days. Both the Real Estate (+12.7 days)

and Public Administration (+12.1 days) also saw sharp

increases to their DBT.

Regional Spotlight

The UK sector standings are very one-sided, with nine

of the 11 regions seeing increases in late payments,

although the vast majority of these are slight rather

than significant. The West Midlands (+3.5 days), Wales

(+3.2 days) and London (+2.7 days) saw the biggest jumps

to DBT. Despite an increase of 1.1 days, the South West

remains the best performing UK region with an overall

DBT of 7.6 days.

In Ireland, however, the movers and shakers are a bit

more drastic in both directions. Starting with the good

news – no Irish county had a better month than Cavan,

with a significant of 19.8 days taking its overall DBT

to 3.3 days and making it the best performing Irish

county. Tipperary isn’t far behind,

with an overall tally of 3.8 days

after slicing 10 days off its DBT.

Longford (-8.6 days) and Limerick

(-8.0 days) also did well. Onto the

not so good news – county Carlow

saw the biggest increase in late

payments, with a rise of 14.6 days

taking its overall DBT to 22.0

days. Elsewhere, Monaghan

(+11.6 days), Waterford (+10.0

days), Wexford (+8.2 days) and

Kerry (+8.0 days) all struggled.

An increase of 6.8 days means

Louth is now the worst

performing county with an

overall DBT of 25.5 days.

Across the four Irish provinces,

Ulster (-4.3 days) and Munster (-1.1

days) are on the up, while Connacht

(+2.2 days) and Leinster (+0.5 days) are

heading in the wrong direction.


*

STATISTICS

Data supplied by the Creditsafe Group

Top Five Prompter Payers

Region (UK) Sept 25 Changes from Aug 25

South West 7.6 1.1

Scotland 8.2 -0.4

South East 8.5 0.7

London 9.4 2.7

East Midlands 10.1 1.3

Bottom Five Poorest Payers

Region (UK) Sept 25 Changes from Aug 25

Northern Ireland 12.0 1.2

East Anglia 11.2 -0.8

Wales 11.2 3.2

West Midlands 10.8 3.5

North West 10.4 0.7

Getting worse

Real Estate 6.5

Public Administration 5.9

Dormant 4.4

Business from Home 2.7

Construction 2

Agriculture, Forestry and Fishing 1.7

Entertainment 1.7

Hospitality 1.1

Education 1

Professional and Scientific 0.9

Top Five Prompter Payers

Sector (UK) Sept 25 Changes from Aug 25

International Bodies 2.0 -5.1

Energy Supply 6.2 -2.6

Entertainment 6.5 1.7

Hospitality 6.7 1.1

Mining and Quarrying 7.0 -0.7

Bottom Five Poorest Payers

Sector (UK) Sept 25 Changes from Aug 25

Public Administration 13.4 5.9

Dormant 12.8 4.4

Real Estate 12.5 6.5

Water & Waste 12.1 -0.3

Professional and Scientific 10.8 0.9

Transportation and Storage 0.8

Other Service 0.8

Business Admin & Support 0.5

Getting better

International Bodies -5.1

Energy Supply -2.6

IT and Comms -2.6

Financial and Insurance -2.1

Manufacturing -0.7

Mining and Quarrying -0.7

SCOTLAND

-0.4 DBT

Wholesale and retail trade; repair of

motor vehicles and motorcycles -0.4

Water & Waste -0.3

Health & Social -0.2

NORTHERN

IRELAND

1.2 DBT

SOUTH

WEST

1.1 DBT

WALES

3.2 DBT

NORTH

WEST

0.7 DBT

WEST

MIDLANDS

3.5 DBT

YORKSHIRE &

HUMBERSIDE

1.2 DBT

EAST

MIDLANDS

1.3 DBT

LONDON

2.7 DBT

SOUTH

EAST

0.7 DBT

EAST

ANGLIA

-0.8 DBT

Region

Getting Better – Getting Worse

-0.8

-0.4

3.5

3.2

2.7

1.3

1.2

1.2

1.1

0.7

0.7

East Anglia

Scotland

West Midlands

Wales

London

East Midlands

Northern Ireland

Yorkshire and Humberside

South West

North West

South East


EXCLUSIVE PAYMENT TRENDS

CONNAUGHT

2.2 DBT

SLIGO

3.0 DBT

ULSTER

-4.3 DBT

CAVAN

-19.8 DBT

Getting worse

IT and Comms 14.0

Real Estate 12.7

Business Admin & Support 12.1

KERRY

8 DBT

LEINSTER

0.5 DBT

CARLOW

-14.7 DBT

LOUTH

6.8 DBT

WICKLOW

-4.2 DBT

Construction 3.6

Health & Social 2.0

Entertainment 1.6

MUNSTER

-1.1 DBT

TIPPERARY

-10.0 DBT

WEXFORD

8.2 DBT

Professional and Scientific 1.4

Education 1.3

Wholesale and retail trade; repair of

motor vehicles and motorcycles 0.1

Top Five Prompter Payers – Ireland

Region Sept 25 Changes from Aug 25

CAVAN 3.3 -19.8

TIPPERARY 3.8 -10.0

SLIGO 4.3 3.0

OFFALY 5.7 -0.4

WICKLOW 6.1 -4.2

Bottom Five Poorest Payers – Ireland


LOUTH 25.5 6.8

CARLOW 22.0 14.6

WEXFORD 19.7 8.2

GALWAY 17.0 3.7

KERRY 16.1 8

Top Four Prompter Payers – Irish Provinces


MUNSTER 9.7 -1.1

CONNACHT 11.8 2.2

LEINSTER 11.9 0.5

ULSTER 13.4 -4.3

Getting better

Water & Waste -11.7

Hospitality -6.6

Public Administration -5.8

Agriculture, Forestry and Fishing -5.4

Financial and Insurance -3.5

Mining and Quarrying -3.3

Energy Supply -2

Manufacturing -1.6

Other Service -0.5

Transportation and Storage -0.3

Top Five Prompter Payers – Ireland

Sector Sept 25 Changes from Aug 25

International Bodies 0.0 0.0

Mining and Quarrying 0.1 -3.3

Financial and Insurance 3.9 -3.5

Agriculture, Forestry and Fishing 4.2 -5.4

Entertainment 5.0 1.6

Nothing changed

International Bodies 0

Bottom Five Poorest Payers – Ireland

Sector Sept 25 Changes from Aug 25

IT and Comms 30.1 14

Business Admin & Support 24.3 12.1

Real Estate 19.9 12.7

Construction 14.1 3.6

Public Administration 12.7 -5.8


CreditWho?

CICM Directory of Services

COLLECTIONS

COLLECTIONS

CREDIT DATA AND ANALYTICS

Controlaccount

Compass House, Waterside, Hanbury Road, Bromsgrove,

Worcestershire B60 4FD

T: 01527 386 610

E: sales@controlaccount.com

W: www.controlaccount.com

Controlaccount has been providing efficient, effective, and

ethical pre-legal debt recovery for over forty years. We help

our clients to improve internal processes and increase cash

flow, whilst protecting customer relationships and established

reputations. We have long-standing partnerships with leading,

global brand names, SMEs and not for profits. We recover

over 40,000 overdue invoices each month, domestically

and internationally, on a no collect, no fee arrangement.

Other services include credit control and dunning services,

international and domestic trace and legal recoveries. All our

clients have full transparency on any accounts placed with us

through our market leading cloud-based management portal,

ClientWeb.

Thornbury Collection Services Ltd

T: 01443 224407

E: Info@thornburycollections.co.uk

W: www.thornburycollections.co.uk

We are a CICM Award winning company, founded in 2002

Our head office is located in Cardiff, helping clients throughout

the UK and internationally, specialising in commercial B2B debt.

Working with clients of all sizes, from one-man bands to

multinational companies, offering a full turn key service with end

to end support, the perfect piece of the credit jigsaw. Offering

terms and conditions, reviewing, enhancing and drafting credit

processes. Credit control support packages , awareness and

training sessions, recovering debts and dispute resolution.

Facilitation of court work, enforcement and the collect out of full

debtor books.Small enough to care Big enough to win.

COLLECTIONS LEGAL

CoCredo

Missenden Abbey, Great Missenden, Bucks, HP16 0BD

T: 01494 790600

E: customerservice@cocredo.com

W: www.cocredo.co.uk

For over 20 years, CoCredo is one of the UK’s leading B2B credit

report agencies, offering global online company score reports

and vital business and financial information. We aggregate

the highest-quality data from top global providers across 240

countries/territories, available instantly. Complimentary services

include Dual Reports, Business Credit Monitoring, CRM

integration, and a DNA portfolio management tool.

Our recent CICM British Credit Awards win for “Technology

Development” in 2025 highlights our commitment to innovation

and excellence. CoCredo is recognised for its innovative and

customer-focused approach. This is evident in our client retention

rate, which exceeds 90%.

Guildways

T: +44 3333 409000

E: info@guildways.com

W: www.guildways.com

Guildways is a UK & International debt collection specialist with over

25 years experience. Guildways prides itself on operating to the

highest ethical standards and professional service levels. We are

experienced in collecting B2B and B2C debts. Our service includes:

• A complete No collection, No Fee commission based service

• 10% plus VAT commission for UK debts

• Commission from 22% plus VAT for International debts

• 24/7 online access to your cases through our CaseManager portal

• Direct online account-to-account payments, to speed up

collections and minimise costs

If you are unable to locate your customer, we also offer a no trace,

no fee, trace and collect service.

For more information, visit: www.guildways.com

MIL Collections Ltd.

Palace Building, Quay Street, Truro,TR1 2HE

M: 07961578739 E: GaryL@milcollections.co.uk

W: www.milai.co.uk

From our dedicated office in Truro, Cornwall, our team of over

50 staff work tirelessly to ensure our clients expectations are not

just met but exceeded.

We offer clients an experienced, dedicated and regulated

collection service. From small sundry invoices through to

complex property cases and overseas jurisdictions we can

help our clients recover what is due to them in a fair and timely

manner.

Added to the ISO certification, MIL is a pioneer bringing AI

to the collections world with a platform dedicated to ensure

customers are treated fairly and clients work is managed

effectively.

Lovetts Solicitors

Lovetts, Bramley House, The Guildway,

Old Portsmouth Road,

Guildford, Surrey, GU3 1LR

T: 01483 347001

E: info@lovetts.co.uk

W: www.lovetts.co.uk

With more than 30 years of experience and over £78 million

collected a year on behalf of our clients. Services include:

• Letters Before Action (LBA) from £1.50 + VAT (successful in

86% of cases)

• Advice and dispute resolution

• Legal proceedings and enforcement

• 24/7 access to your cases via our in-house software solution,

CaseManager

Don’t just take our word for it, here’s some recent customer

feedback: “All our service expectations have been exceeded.

The online system is particularly useful and extremely easy to

use. Lovetts has a recognisable brand that generates successful

results.”

CREDIT DATA AND ANALYTICS

DataTrace UK

Compass House, Waterside, Hanbury Road, Bromsgrove,

Worcestershire B60 4FD

T: 01527 386 626

E: info@datatraceuk.com

W: www.datatraceuk.com

DataTrace is recognised as one of the leading trace agencies in

the UK. Our client portfolio includes leading debt collection and

enforcement firms, utilities companies, housing associations,

law practices and universities. Providers of volume electronic

trace services, enhanced desktop tracing, employment and

international tracing, propensity to pay reporting, address and

telephone appending, and pre-litigation reports. We can build

a bespoke workflow to meet your data needs. All our data is

validated and priced competitively.

Dun & Bradstreet

T: 0808 239 7001

E: hello@dnb.com

W: www.dnb.co.uk

At Dun & Bradstreet, we have a standardised risk approach to

help make confident, timely, and accurate lending and credit

decisions. We help businesses access up-to-date and timely

data on hundreds of millions of global businesses. And we

don’t limit how often you’re able to run checks on businesses in

your portfolio. So, you can be sure you always have the latest

information on the companies you choose to do business with

– whether micro businesses run by a single person right up to

large, international enterprises.

TOP SERVICE

MINIMISE DEBT

Top Service Ltd

Top Service Ltd, 2&3 Regents Court, Far Moor Lane

Redditch, Worcestershire. B98 0SD

T: 01527 503990

E: membership@top-service.co.uk

W: www.top-service.co.uk

MAXIMISE C ASH

The only credit information and debt recovery service provider

specifically for the UK construction industry. Our payment

experiences are the most up to date credit information available

and enable construction businesses to confidently assess credit

risk & make the best, most informed credit decisions. Coupled

with our range of effective debt recovery solutions, quite simply

our members stay one step ahead & experience less debt &

more cash.

CREDIT MANAGEMENT SOFTWARE SOFT-

Credica Ltd

Building 168, Maxell Avenue, Harwell Oxford, Oxon. OX11 0QT

T: 01235 856400E: info@credica.co.uk W: www.credica.co.uk

Our highly configurable and extremely cost effective Collections

and Query Management System has been designed with 3

goals in mind:

•To improve your cashflow • To reduce your cost to collect

• To provide meaningful analysis of your business

Evolving over 15 years and driven by the input of 1000s of

Credit Professionals across the UK and Europe, our system is

successfully providing significant and measurable benefits for

our diverse portfolio of clients. We would love to hear from you

if you feel you would benefit from our ‘no nonsense’ and human

approach to computer software.


FOR ADVERTISING INFORMATION OPTIONS

AND PRICING CONTACT

paul.heitzman@cplone.co.uk – 01727 739 196



DEBT & ASSET RECOVERY SERVICE

Novuna Business Cash Flow

E: marketing@novunabusinesscashflow.co.uk

W: www.novuna.co.uk/business-cash-flow/

T: 0808 258 5934

Novuna Business Cash Flow provides fast, flexible cash flow

finance solutions to SMEs and larger corporates across a wide

range of sectors in the UK. With remote digital on-boarding,

a flexible approach to contracts, and fast payout we won

Innovation in the SME Finance Sector at the 2024 Business

Moneyfacts Awards. Combining innovative cash flow solutions

with industry leading technology, we retain one of the highest

customer satisfaction scores in the market.

Corcentric

Information: Ali Hassan| 020 317 71713

ahassan@corcentric.com | corcentric.com

Social media links: https://www.linkedin.com/company/

corcentric/, https://x.com/corcentric?lang=en-GB

Membership: Lee Allen lallen@corcentric.com

Jonathan BlackBurn jblackburn@corcentric.com

Ali Hassan ahassan@corcentric.com

About Corcentric: Corcentric is a leading global provider

of best-in-class procurement and finance solutions. We

offer a unique combination of technology and payment

solutions complemented by robust advisory and managed

services. Corcentric reduces stress and increases savings

for procurement and finance business leaders by forming a

strategic partnership to diagnose pain points and deliver tailormade

solutions for their unique challenges. For more than two

decades, we've been a trusted partner who delivers proven

results. To learn more, please visit www.corcentric.com.

ESKER

Sam Townsend Head of Marketing

Northern Europe Esker Ltd.

T: +44 (0)1332 548176 M: +44 (0)791 2772 302

W: www.esker.co.uk LinkedIn: Esker – Northern Europe

Twitter: @EskerNEurope blog.esker.co.uk

Esker’s Accounts Receivable (AR) solution removes the

all-too-common obstacles preventing today’s businesses

from collecting receivables in a timely manner. From credit

management to cash allocation, Esker automates each step of

the order-to-cash cycle. Esker’s automated AR system helps

companies modernise without replacing their core billing and

collections processes. By simply automating what should

be automated, customers get the post-sale experience they

deserve and your team gets the tools they need.

Genius Software Solutions

T: +44 (0) 141 280 0275

E: sales@geniusssl.com

W: www.geniusssl.com

Genius provides solutions designed to enhance your customer

engagement with compliance in full focus; our team have decades

of operational experience in the Debt & BPO space.

As a global outreach partner our technology drives compliance

and operational efficiency to help your business thrive.

• Streamline Collections, Payments & Asset Recovery, whether this

be in-house or within a BPO setting with our Adept platform.

• Enhance customer engagement with our cloud-based

omnichannel platform, Commpli.

We've helped businesses worldwide enhance efficiency, optimise

workflows, and respond to the dynamic needs of a changing

marketplace.

My DSO Manager

22, Chemin du Vieux Chêne,

Bâtiment D, Meylan, FRANCE

T: +33 (0)458003676

E: contact@mydsomanager.com

W: www.mydsomanager.com

My DSO Manager is an all-in-one intelligent SaaS accounts

receivable and credit management system that provides

real-time insight and scalability from SMEs to international multientity

companies. It helps AR analysts, accounting or finance

managers, and any client-facing employee, manage risk and

maximize cash collection.

It can swiftly integrate any kind of data from any ERP and

implement any customization due to its creative, competent IT

teams that are headquartered inside the firm and collaborate

closely with support employees, many of whom were formerly

credit managers at big corporations.

The feature-rich functions, automated reminders, alerts, and

numerous services connected to the solution, such as EDM/

CRMs/insurance/e-payment/BI platforms etc., along with

a reasonable pricing system, have simplified the credit-tocash

cycle by monitoring daily KPIs like DSO, aging balance,

overdues/past-dues, customer behavior, and cash forecast.

My DSO Manager's worldwide clientele are its real

ambassadors, who assist the company in expanding on an

ongoing basis.

TCN

T: +44 (0) 800-088-5089

E : spencer.taylor@tcn.com

W: www.tcn.com

TCN is a leading provider of cloud-based call centre technology

for enterprises, contact centres, BPOs, and collection

agencies worldwide. Founded in 1999, TCN combines a deep

understanding of the needs of call centre users with a highly

affordable delivery model, ensuring immediate access to robust

call centre technology, such as SMS, email, predictive dialler,

IVR, call recording, and business analytics required to optimise

operations while adhering to callers’ requests.

Its “always-on” cloud-based delivery model provides customers

with immediate access to the latest version of the TCN solution,

as well as the ability to quickly and easily scale and adjust to

evolving business needs. TCN serves various Fortune 500

companies and enterprises in multiple industries, including

newspaper, collection, education, healthcare, automotive,

political, customer service, and marketing. For more information,

visit www.tcn.com or follow on Twitter @tcn.

DEBT & ASSET RECOVERY SERVICE

STA International

T: 01622 600 921

E: sales@staonline.com

W: www.stainternational.com

STA International is a trusted leader in credit management,

providing expert solutions in global debt recovery, outsourced

credit control, address tracing, and legal debt recovery. For

over 30 years, we’ve helped businesses of all sizes maximise

cash flow, minimise risk, and recover outstanding debts

efficiently.

We act as extension of your credit control team, using

technology, knowledge, and an effective ethical approach

to your debt recovery. Our bespoke processes ensure that

collections are dealt with professionally and amicably, helping to

protect your reputation and relationships while achieving results

that improve your cash flow.

Our activities on individual cases and overall performance stats

can be accessed 24/7 on our market-leading client reporting

platform, Your Debts Online. At STA International, we don’t

just recover debt; we support businesses to create healthy

financial positions while fostering better long-term customer

relationships.

Shakespeare Martineau

E: jayne.gardner@shma.co.uk,

W: www.shma.co.uk

T 01789 416440

Shakespeare Martineau provides expert debt and asset

recovery services across various sectors, including energy,

manufacturing and Government. Our team supports regulated

and unregulated debt, acting as an extension of internal

collections when needed. We prioritise keeping client costs low

while empathetically engaging with debtors. Our 70+ experts

offer cradle-to-grave B2B and B2C collections, transparent

fee plans, bespoke service, flexible case management, and

additional support like training, advice, litigation and mediation.

ENFORCEMENT

Court Enforcement Services

Samuel Evans – Director of Business Development

T: 07759 122503

E : s.evans@courtenforcementservices.co.uk

W: www.courtenforcementservices.co.uk

Court Enforcement Services are the CICM Enforcement Business

of the Year. Recognised for our professional, client-focused,

and approachable service, our expert team has enforced over

100,000 Writs, recovering over £105m for clients and claimants

since the end of the pandemic. Our commitment to excellence

is reflected in our client satisfaction survey, where 100% of

respondents confirmed we meet or exceed expectations as a

High Court enforcement supplier, with many highlighting our

superior collection performance over industry competitors. We

work closely with legal professionals, businesses, and individuals

to provide ethical, effective, and fully compliant enforcement

solutions. Combining experience with innovation, we ensure the

best possible outcomes while upholding the highest standards of

professionalism, integrity, and service excellence.

High Court Enforcement Group Limited

Client Services, Helix, 1st Floor, Edmund St, Liverpool, L3 9NY

T: 08450 999 666

E: clientservices@hcegroup.co.uk

W: hcegroup.co.uk

Why choose us?

With over £400 million recovered for our clients, our track

record is second to none. We have enforced over 320,000 writs

of control and are committed to providing you with a unique

and personalised service. Our enforcement agents cover all of

England and Wales, are trained to the highest standards and

each holds strong local knowledge of the areas they cover.

Our clients rate our service extremely highly, with a 99%

satisfaction score in our most recent annual survey.

You can rely on us, the largest independent High Court

enforcement company in the UK, with the highest number of

HCEOs and a wealth of experience across all our teams.

ENGAGEMENT

CFH Docmail

T: 01761 416311

E: info@cfh.com

W: www.cfh.com

With over 45 years of experience in supporting organisations in

the successful delivery of multi-channel communications, CFH

are the innovative and trusted partner for driving engagement

and achieving measurable results.

Combining proven expertise, the right accreditations and

industry driven communication solutions including Docmail the

leading hybrid mail solution, CFH have the perfect blend of

solutions to help you engage offline, online or the perfect blend

of the two.


CreditWho?


FOR ADVERTISING INFORMATION

OPTIONS AND PRICING CONTACT

paul.heitzman@cplone.co.uk

FINANCIAL PR

PAYMENT SOLUTIONS

RECRUITMENT

Gravity Global

Floor 6/7, Gravity Global, 69 Wilson St, London, EC2A 2BB

T: +44(0)207 330 8888.

W: www.gravityglobal.com

Gravity is an award winning full service PR and advertising

business that is regularly benchmarked as being one of the

best in its field. It has a particular expertise in the credit sector,

building long-term relationships with some of the industry’s

best-known brands working on often challenging briefs. As

the partner agency for the Credit Services Association (CSA)

for the past 22 years, and the Chartered Institute of Credit

Management since 2006, it understands the key issues

affecting the credit industry and what works and what doesn’t in

supporting its clients in the media and beyond.

INSOLVENCY

Key IVR

T: +44 (0) 1302 513 000 Opt 3 E: partners@keyivr.com

W: www.keyivr.com

Key IVR are proud to have joined the Chartered Institute of

Credit Management’s Corporate partnership scheme. The

CICM is a recognised and trusted professional entity within

credit management and a perfect partner for Key IVR. We are

delighted to be providing our services to the CICM to assist

with their membership collection activities. Key IVR provides

a suite of products to assist companies across the globe with

credit management. Our service is based around giving the

end-user the means to make a payment when and how they

choose. Using automated collection methods, such as a secure

telephone payment line (IVR), web and SMS allows companies

to free up valuable staff time away from typical debt collection.

Hays Credit Management

107 Cheapside, London, EC2V 6DN

T: 07834 260029

E: karen.young@hays.com

W: www.hays.co.uk/creditcontrol

Hays Credit Management is working in partnership with the

CICM and specialise in placing experts into credit control jobs

and credit management jobs. Hays understands the demands

of this challenging environment and the skills required to thrive

within it. Whatever your needs, we have temporary, permanent

and contract based opportunities to find your ideal role. Our

candidate registration process is unrivalled, including faceto-face

screening interviews and a credit control skills test

developed exclusively for Hays by the CICM. We offer CICM

members a priority service and can provide advice across a wide

spectrum of job search and recruitment issues.

Red Flag Alert Technology Group Limited

49 Peter Street, Manchester, M2 3NG

T: 0330 460 9877

E: sales@redflagalert.com

W: www.redflagalert.com

The UK’s No1 Insolvency Score is available as platform

designed to help businesses manage risk and achieve growth

using real-time data. The only independently owned UK credit

referencing agency for businesses. We have modernised the

way companies consume data, via Graph QL API and apps for

many CRM / ERP systems to power businesses decisions with

the most important data taken in real-time feeds, ensuring our

customers are always the first to know.

Red Flag Alert has a powerful portfolio management tool

enabling you to monitor all your customers and suppliers so

you and your teams can receive email alerts on data events

i.e. CCJ, Petitions, Accounts, Directors, amongst 84 alerts

produced and tailored to your business.

Red Flag Alert works towards growing and protecting

businesses using advanced machine learning and AI

technology data to provide businesses with information

to deliver best in class sales, credit risk management and

compliance.

Menzies LLP

T: +44 (0)2073 875 868

E: creditorservices@menzies.co.uk

W: www.menzies.co.uk/creditor-services

Our Creditor Services team can advise on the best way for you

to protect your position when one of your debtors enters, or

is approaching, insolvency proceedings. Our services include

assisting with retention of title claims, providing representation

at creditor meetings, forensic investigations, raising finance,

financial restructuring and removing the administrative burden

– this includes completing and lodging claim forms, monitoring

dividend prospects and analysing all Insolvency Reports and

correspondence.

For more information on how the Menzies LLP Creditor

Services team can assist, please contact Giuseppe Parla,

Licensed Insolvency Practitioner, at:

E: gparla@menzies.co.uk / tel:+44 3309 129828

Bottomline Technologies

115 Chatham Street, Reading

Berks RG1 7JX | UK

T: 0870 081 8250 E: emea-info@bottomline.com

W: www.bottomline.com/uk

Bottomline Technologies (NASDAQ: EPAY) helps businesses

pay and get paid. Businesses and banks rely on Bottomline for

domestic and international payments, effective cash management

tools, automated workflows for payment processing and bill

review and state of the art fraud detection, behavioural analytics

and regulatory compliance. Businesses around the world depend

on Bottomline solutions to help them pay and get paid, including

some of the world’s largest systemic banks, private and publicly

traded companies and Insurers. Every day, we help our customers

by making complex business payments simple, secure and

seamless.

FIS

W: www.fisglobal.com.

FIS is a financial technology company providing solutions to

financial institutions, businesses and developers. We unlock

financial technology that underpins the world’s financial system.

Our people are dedicated to advancing the way the world pays,

banks and invests, by helping our clients confidently run, grow

and protect their businesses. Our expertise comes from decades

of experience helping financial institutions and businesses adapt

to meet the needs of their customers by harnessing the power that

comes when reliability meets innovation in financial technology.

Headquartered in Jacksonville, Florida, FIS is a member of the

Fortune 500® and the Standard & Poor’s 500® Index. To learn

more, visit www.FISglobal.com. Follow FIS on Facebook, LinkedIn

and X (@FISglobal).

DCS

T: 01656 663 930

E: Jason@creditpro.co.uk

W: www.dcscreditjobs.co.uk

DCS is a specialist Credit Management Recruitment

Company with over 18 years of experience, supplying

Credit Professionals at all levels.

We supply high calibre candidates to our clients within the

FinTech, Credit, Collections, Enforcement and Legal Industry.

We also cover many different sectors listed below

Utilities Gas / Electric / Water / Collections

International Collections & Credit Insurance

DCA Collections, Legal, Enforcement & Asset Recovery

Credit Information, Credit Management Software, Data &

Analytics, Invoice Factoring and Invoice Discounting,

Insolvency, Payment Solutions, Parking, Banking.

PORTFOLIO

CREDIT CONTROL

Portfolio Credit Control

1 Finsbury Square, London. EC2A 1AE

T: 0207 650 3199

E: recruitment@portfoliocreditcontrol.com

W: www.portfoliocreditcontrol.com

Portfolio Credit Control, a 5* Trustpilot rated agency, solely

specialises in the recruitment of Permanent, Temporary &

Contract Credit Control, Accounts Receivable and Collections

staff including remote workers. Part of The Portfolio Group,

an award-winning Recruiter, we speak to Credit Controllers

every day and understand their skills meaning we are perfectly

placed to provide your business with talented Credit Control

professionals. Offering a highly tailored approach to recruitment,

we use a hybrid of face-to-face and remote briefings, interviews

and feedback options. We provide both candidates & clients

with a commitment to deliver that will exceed your expectations

every single time.

CreditWho?


For advertising information

options and pricing contact

paul.heitzman@cplone.co.uk 01727 739 196


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