Credit Management December 2025

CREDIT MANAGEMENT

CM

DECEMBER ISSUE 2025

THE CICM MAGAZINE FOR CONSUMER AND

COMMERCIAL CREDIT PROFESSIONALS

The

Environmental

Finance Divide

Can the finance industry support

a prosperous net-zero future?

BCA 2026

Awards shortlist

announced.

PAGE 12

INTERVIEW

With Joanne

Lafferty of HSCNI.

PAGE 14

TRADE

Protecting exports to

New Zealand.

PAGE 30

Email info@credit-iq.com for more information or

ACCESS OUR FREE 30 DAY TRIAL TODAY

by visiting our website

IONA YADALLEE

EDITOR

Editor’s column

CONFIDENCE,

CONNECTION

AND CHRISTMAS

DECEMBER always seems to arrive

quicker than expected – just like that

deadline you swore was months away.

One minute it’s fireworks and the glow

of those late-autumn days; the next,

you’re quietly adjusting the thermostat

when nobody’s looking, knee-deep in

mince pies, and firmly into the festive countdown. I, for one,

cannot wait!

But this year brought another milestone in the calendar for

me: I was delighted to be asked to judge several categories in

the CICM British Credit Awards. It was a genuinely insightful

experience and wonderful to see the projects, the innovation,

and personal commitment being delivered across the profession.

The level of thought, effort, and expertise remains as high as

ever. It was also a pleasure to witness the curiosity and integrity

of the judging panel. Congratulations to all who entered and

well done for making the judging so difficult.

As the calendar moves on, attention also shifts to national

events. By the time you read this, the Autumn Budget will have

landed. Whether it delivered clarity or confusion is something

only time will tell. After months of speculation and dizzying

U-turns on potential measures, I’m not sure expectations are

high. But wherever we end up, let’s hope it does something

to address the lack of business confidence that has appeared

to be in short supply this year.

On the topic of confidence, at a recent CICM Think Tank,

we heard something unexpected: consumer confidence is

ticking upwards. I know, it doesn’t feel like it based on what

you read and hear in the media. But according to data tracked

by Experian, inflation is easing, real incomes are rising, and

major purchases are up. In a year of mixed messages, this was

a welcome note of reassurance. I wonder how this confidence

will play out in the run up to Christmas.

As the festive season approaches, many people will be thinking

through their present list, while others may be planning their

Christmas TV viewing. And for many families, the BBC will

be a major part of that tradition. Whether it’s the King’s

Speech, a festive favourite, or a celebrity special we didn’t

plan to watch, the BBC has long helped create those shared

national moments, the kind that quietly stitch generations

and communities together.

Long may that continue because while the BBC remains (we’re

told) one of the most trusted news sources in the world, every

misstep calls that trust – and the BBC’s future – into question.

Let’s hope it finds its footing and steadies itself, because in

an age of growing scepticism, digital noise, and polarised

narratives, truly impartial voices matter more than ever.

Whatever you have planned for the festive season I hope it

brings time to rest, reflect and recharge. Happy Christmas

everyone.

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

contents

December 2025 issue

11 – INSOLVENCY IN 2025

Lessons from another year of strain.

14 – HEALTHY AMBITIONS

Joanne Lafferty, Service Delivery Manager,

HSCNI, discusses credit management within

the NHS.

18 – FINANCIAL DIVIDE

How can the finance industry play its part

in ensuring a more prosperous, as well as

environmentally friendly, economy and

society?

22 – CREDIT FEST

A round up of this year’s Credit Fest tour.

24 – COMMUNICATION

Why the best business outcomes still depend

on people talking to people.

28 – CALCULATED SHIFT

The UK debt sale market is adapting to a new

competitive landscape.

30 – PROTECTING YOUR POSITION

Understanding the PPSA could be the key to

turning opportunity into secure, sustainable

trade.

32 – COUNTRY FOCUS – ITALY

A market worthy of any exporter’s

attention.

42 – SHIFTING

PRIORITIES

Finance professionals are reshaping

careers around pay, progression

and flexibility — and employers

must adapt.

44

ENFORCEMENT

24

COMMUNICATION

11

INSOLVENCY

Lessons from another

year of strain.


14

INTERVIEW

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

Advisory Council: Laurie Beagle FCICM

Laura Brown FCICM(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

18

ENVIRONMENTAL

32

COUNTRY FOCUS

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

Rob Howard, Milica Cosic and

Melanie York

Advertising

Paul Heitzman

Telephone: 01727 739 196

Email: paul@centuryone.uk

Printers

Stephens & George Print Group

2025 subscriptions

UK: £138 per annum

International: £171 per annum

Single copies: £15.00

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.

Revolut’s UK banking

licence delay

REVOLUT has

grown from a startup

based in London

to become a large

global digital financial

platform.

However, it’s been

waiting for a UK banking licence.

It has more than 65m users across 38

markets and with its all-in-one app offers

instant international transfers, competitive

foreign exchange, budgeting tools, crypto

and stock trading, and seamless digital

payments.

Yet despite being in this position, it

doesn’t have a full UK banking licence, and

some think it’s because regulators struggle

to evaluate institutions that operate at the

speed of light and globally too.

Business Matters has said that the

Prudential Regulation Authority (PRA),

part of the Bank of England, “is understood

to have hesitated over approving Revolut’s

application due to concerns about

governance and risk management –

particularly how its internal controls can

keep pace with rapid international growth.”

It cites GlobalData, noting that the

hesitation reflects a deeper systemic

issue rather than a case of bureaucratic

obstruction.

In particular, it commented,

“unlike traditional banks, which grew

incrementally over decades with local

branches and sequential market entry,

Revolut has scaled 5,000% in a few years,

operating simultaneously across dozens of

countries…this is hard for regulators. The

PRA’s frameworks were never built for a

bank operating at this speed and scale.”

It doesn’t help that such growth brings

complexity, especially as each market that

Revolut operates in has its own financial,

data-protection, and anti-moneylaundering

regimes. By definition, being

compliant in all markets and in real time

requires plenty of automation and serious

quantities of predictive monitoring;

manual oversight just won’t work.

Of course, for Revolut, a full UK licence

would allow it to take deposits, issue loans,

and offer products under the protection

of the Financial Services Compensation

Scheme (FSCS). It would also have to

adhere to the PRA’s strictest prudential

requirements. It would grant Revolut the

status of a fully regulated British bank.

The problem appears to be whether

the PRA’s frameworks are ready for

Revolut. As GlobalData noted: “traditional

risk management assumes physical

infrastructure, local compliance officers,

and predictable transaction flows.

Revolut’s compliance is digital-first —

API-driven, real-time, and distributed

across jurisdictions. Both aim for financial

stability, but they achieve it through

fundamentally different means.”

The question then is how to assess

risk when the very nature of banking is

changing.

Digital banks function on continuous

data, updating risk models by the second.

However, traditional regulatory models

measure capital adequacy, liquidity, and

operational resilience quarterly, annually,

or in other such periods cycles. Regulation

based on balance sheets is not going to

work with algorithms.

All of this means that regulators must

learn how to measure systemic risk and

understand technology related issues as

they would the movement of cash.

Naturally, whatever happens with the

grant (or not) of a licence to Revolut will

impact how fintechs work and are held

accountable for their actions in a global

finance market.

On the one hand, if the PRA refuses

to grant a licence to Revolut it could tell

the world that the UK is still very much

cautious, which will please traditional

institutions. But if it moves too quickly,

there’s the inherent risk of allowing

systemic vulnerabilities into the world of

finance.

Regardless of what happens with

Revolut’s licence, the world of finance has

changed and the UK - at least – needs to

adapt if it’s not to be left behind.


CREDIT MANAGEMENT

Bank of England worries

about another crisis

ANDREW Bailey, the Bank of England

Governor, is concerned about the complex

nature of the financial engineering in use in

the private credit markets. In particular, he

has warned that recent events in US private

credit markets have “worrying echoes of

the sub-prime mortgage crisis that kicked

off the global financial crash of 2008.”

Appearing before a House of Lords

committee, Bailey referred to the collapse

of two leveraged US firms, First Brands

and Tricolor, worried that they were not

isolated events but “the canary in the

coalmine.”

He asked: “are they telling us something

more fundamental about the private

finance, private asset, private credit,

private equity sector, or are they telling us

that in any of these worlds there will be

idiosyncratic cases that go wrong?”

He drew an analogy to before the

2007/8 financial crisis when the world was

debating sub-prime mortgages in the US;

when a mortgage-lending frenzy ended

Children will never be able to retire

NEW research from St. James’s Place (SJP)

found that 36% – more than 15m parents

in the UK – think that their children will

never be able to retire, as financial concerns

for future generations mount.

The second chapter of SJP’s Real Life

Advice Report 2025 outlines that many

parents are bracing themselves to support

their children financially for longer, as

worries over getting on the property

ladder, stagnant wages, and the prospect of

inadequate retirement savings weigh on their

minds. Just 40% of parents feel optimistic

that their children will find financial

security, with 31% feeling pessimistic.

The effect of this on parents themselves

is worsening with 22% of parents who are

not optimistic about their children’s future

preparing for their children to remain

financially dependent on them well into

adulthood; 39% expect to support their

children financially during their own

retirement years.

On top of this are 25% of parents who

expect to dip into their retirement savings

to help their children, while 15% anticipate

releasing equity from their homes to provide

support. It’s no surprise that 31% of parents

think that they will have to delay their own

retirement.

The main factor behind parents’ financial

fears is that their children will never own a

home, with 40% thinking that this will be

out of reach for the next generation. Further

is the concern that children will not save

enough for retirement or that their salaries

won’t keep pace with inflation.

And to compound the worries, 21% of

parents think that AI could reduce access to

well-paid jobs.

Bitcoin wallet to rival credit cards

IN a portend of what could come to the

UK, Jack Dorsey, co-founder of Twitter and

Chief Executive of payments firm Block,

announced a new product designed to help

small businesses accept and hold bitcoin as

an alternative to traditional card payments.

The Square bitcoin wallet will enable

US retailers using the company’s sales

platform to convert a portion of their daily

revenue into bitcoin automatically, with

in a housing market collapse in the US

from summer 2007, kicking off a wave of

financial turmoil. Banks on both sides

of the Atlantic were tied into billions of

pounds’ worth of US home loans, much of

it with short-term borrowing.

The result was a deep recession and

a string of bank bailouts in the US and

Europe, including RBS and Lloyds. Bailey

thinks that the complex nature of some of

the financial products now in use in the

private credit markets are similar to that

period.

no transaction fees until 2027. They will be

able to accept bitcoin payments directly

and convert up to 50% of daily sales into

the cryptocurrency.

The new service is an attempt to challenge

traditional credit card networks, which

Dorsey has criticised for high transaction

fees and limited benefits for merchants. It

will initially be available only in the United

States.

Bank tax may

affect lending

CHARLIE Nunn, Chief Executive of Lloyds

Banking Group, has told Sky News that any

windfall tax placed on commercial banks

could harm lending to households and

businesses.

Nunn said: “If we are going to have the

ability and the confidence to continue to lend

into the real economy, to help households

and businesses invest, we need to make sure

that the financial services system and Lloyds

Banking Group really remains healthy in

that context.’’

The Chancellor could raise the bank

surcharge – a levy on bank profits in addition

to corporation tax. The last – Conservative

– Government cut the levy from 8% to 3%

in 2023. Returning it to 8% could raise £2bn.

Student prize fund

THE CICM Sheffield and District branch,

and the CICM North East Branch has

each funded an annual prize of £150 to be

awarded to a student in their respective

branches who achieves the highest score in

any mandatory unit of the Level 3 Diploma.

The winners will be announced in a future

edition – so watch this space!

Women lose out

DATA from the Office for National

Statistics (ONS) has found that women in

England can lose a small fortune on having

children, with the average mother losing

over £65,000 in pay by the time her first

child turns five.

The data found a 42% fall in mothers’

average monthly earnings – equivalent to a

loss of £1,051 per month – compared with

income levels one year before childbirth.

The ONS found that motherhood not only

affects immediate earnings but extends with

multiple children and can cost mothers over

£124,000 if they have three. The figures are

based on pay data between 2014 and 2022.

Branch AGMs

CICM Branch AGM season will soon be

upon us, and all Branch Committees are due

to convene between 1 January 2026 and 31

March 2026. Look out for more information

across CICM channels and by visiting

https://www.cicm.com/branches/.


NEWS

Digital euro could

drain billions

A story on Reuters, citing a European

Central Bank (ECB) simulation, has

detailed that a digital euro could drain

up to €700bn in deposits during a run on

commercial banks and could push around

a dozen euro zone lenders into a liquidity

squeeze.

The study sought to evaluate the risks that

a digital currency, essentially an electronic

wallet guaranteed by the ECB, would pose

to the banking sector under different

scenarios, including a hypothetical ‘flight

to safety.’

While the ECB has presented the digital

currency as an alternative to US-dominated

means of payment, bankers and MEPs

worry that it’ll affect bank liquidity.

The ECB's study found that there to be an

unprecedented run on commercial banks,

depositors could withdraw €699bn from

euro zone banks to park them in digital

euros if a limit on individual holdings was

set at €3,000 each.

Given that this is equal to 8.2% of all retail

sight deposits, and highly unlikely, it still

leaves 13 of the 2,025 banks in the analysis

with depleted mandatory cash buffers as

Many UK companies

paid invoices late

AN analysis by campaign group Good

Business Pays, using data taken from

companies that have submitted information

as part of the UK’s Payment Practices and

Performance Regulation, has found that

more than £100bn of invoices were not paid

on time in the first nine months of 2025.

The average payment time went beyond

50 days, and 127 companies took more than

80 days to pay.

The analysis was published just as new

procurement rules came into force that

requires Government contractors to pay

private sector suppliers within 45 days.

As part of the UK’s Payment Practices and

measured by the Liquidity Coverage Ratio.

However, the ECB's ‘business as

usual scenario’ assumes that depositors

don't make full use of their digital euro

allowance, and that just over €100bn would

leave the banks and so create no liquidity

requirements.

The ECB also simulated individual

holding limits of €500, €1,000 and €2,000,

obtaining lower outflow estimates.

It said that ‘‘the analysis confirms that

holding limits effectively restrict deposit

outflows from the banking sector to levels

that safeguard the stability of the financial

system and support the correct formulation

and implementation of monetary policy.’’

NEWS

Performance Regulation, large companies

and Limited Liability Partnerships (LLPs)

that meet the criteria are legally required

to publish their payment terms and

performance information every six months.

Among the companies highlighted as

late payers were BMW, soup maker Baxters

and a broadband supplier, Hyperoptic.

Baxters, a family-owned company,

appeared not to pay 90% of invoices within

agreed terms according to its filing; BMW

was among the worst offenders by value,

delaying payment of nearly £2.3bn; and

Hyperoptic appeared to be the slowest

payer in the period, with an average of 158

days (later amended to 42 days) taken to

pay invoices in the period January to June

2025.

The Good Business Pays campaign,

backed by the trade bodies the CBI,

Federation of Small Businesses and British

Chambers of Commerce, also found that

the number of companies paying 70% or

more of their invoices late had risen from

122 in 2024 to 150 in 2025.

Finance access

by postcode?

ACCORDING to research by the British

Business Bank, small businesses in deprived

urban areas are less likely to secure finance

than those in more affluent or rural parts

of the UK.

The bank’s Small Business Finance Markets

report found “significant disparities” in

access to credit cards, overdrafts and loans

and that where a business is based has a

measurable impact on its access to funding.

The study found that entrepreneurs in

economically disadvantaged areas were

more inclined to look for funding than

the national average, but more often

discouraged from applying – either due to

previous rejections or perceived barriers

from lenders.

The bank has regional funds and

community lending partnerships designed

to make the business finance landscape more

equitable.

Human touch

CREDIT management firm Lowell surveyed

252 individuals to understand how they’d

contact creditors if in financial trouble.

It found that 81% still want to speak to

a human while 61% said that they would

choose a real person over a chatbot – even

if it could answer their questions.

Further, email and other digital channels

were the preferred option for day-to-day

communication with 85% saying that they

were likely to respond to emails from debt

companies and 72% to app notifications,

compared to 68% to letters. When asked

about their preferred method of contact,

50% said email and only 6% selected letters.

And when it came to building trust,

traditional letters ranked lowest. Just 8%

said post was the most effective way to build

trust, compared with 16% for in-person

conversations, 29% for phone calls and 25%

for digital interactions.

CICM Advisory

Council call up

ARE you who we are looking for?

It will soon be time to register your

interest in the CICM Advisory

Council Elections 2026. Elections take

place every two years and nominations

will open early next year for the next

term. More information on how you

can get involved will follow across all

CICM channels.


CREDIT MANAGEMENT

The growing role of

AI in finance

UK Finance (UKF)

has published an

interesting piece

on the subject of

AI compliance

and it begins with

a comment citing

Moody’s study into AI in risk-related compliance,

which surveyed 600 compliance

professionals across sectors and regions.

It found that 53% of respondents now

actively use or are trialling AI, up from

just 30% in 2023, and awareness is nearly

universal at 91%. But while AI systems

can now take actions like routinely

screening customers, detecting anomalies,

and automating Know Your Customer

workflows, returns are mixed and, in many

cases, are hard to measure.

The differential between AI adoption

and measurable value ought to raise

concern for two reasons – it’s not working

well and worse, firms are not measuring

impact.

That said, organisations seeing benefits

from AI are those with higher data

maturity, actively check AI’s output, or

have more structured, accessible data, and

a better understanding of where AI fits

within their compliance frameworks.

In contrast, recent research from

Experian surveyed nearly 1,200 senior

leaders, looking at how Machine Learning

(ML) is transforming decision-making

across financial services and telecoms

companies in eleven countries in EMEA

and Asia Pacific. It found that ML is helping

organisations improve access to financial

services, reduce risk, and accelerate

automation, while also highlighting the

barriers that still hinder broader adoption.

It needs to be recognised that AI is the

broad concept of creating machines that

can mimic human intelligence, ML is a

subset of AI that uses algorithms to allow

machines to learn from data without being

explicitly programmed.

The report noted that ML is enabling

organisations to expand financial services

into new areas, particularly thin-file and

underbanked consumers; by using richer

and alternative data sources, ML models

are allowing more accurate assessments of

eligibility, helping providers make fairer

and more rounded decisions.

Despite these benefits, some remain

cautious; the report details that cost,

regulatory uncertainty, and lack of internal

expertise are the primary barriers to ML

adoption.

But none of this has stopped the rollout

of AI into banks with JPMorgan Chase

maintaining its position as the world’s

most AI-advanced bank, according to the

2025 Evident AI Index, which benchmarks

the artificial intelligence maturity of 50

global financial institutions.

The index, produced annually by Evident,

evaluates banks’ AI performance using

more than 70 indicators. Its findings show

that the top 10 banks are improving their

AI maturity 2.3 times faster each year than

the rest of the field, as early investments

begin to generate tangible financial returns.

Evident thinks that banks are

increasingly seeing measurable results

from AI integration across operations,

risk management and customer services;

JPMorgan Chase says its annual AI-driven

benefits are to “heading towards $2bn”.

As for the global top 10 banks for

AI maturity, in order, the list features

JPMorgan Chase, Capital One, Royal

Bank of Canada, Commonwealth Bank of

Australia, Morgan Stanley, Wells Fargo,

UBS, HSBC, Goldman Sachs, and Bank of

America.

The UK’s five major banks did well in

2025, with four out of five ranking in the

top half of the index and three advancing

their position from last year. However,

no UK bank placed in the global top 10

for AI talent, highlighting a continued

skills gap.

HSBC retained its status as the UK’s topperforming

bank, ranking eighth overall

but Lloyds Banking Group delivered the

most dramatic improvement of any British

bank, climbing 12 places to 15th.


continues on page 10

>

NEWS

UK Finance live pilot of

tokenised sterling deposits

UK Finance (UKF) has launched an

industry pilot project to deliver the first

UK live transactions of tokenised sterling

deposits (GBTD). These tokenised deposits

are a digital representation of traditional

sterling commercial bank money and

retain the trust and regulatory protections

of conventional deposits, while offering

benefits such as enhanced speed and fraud

protection.

UKF says that this pilot “will position

the UK as a leader in payments innovation,

delivering tokenised deposits and

programmable payments against three use

cases.” These are outlined as person-toperson

payments via online marketplaces

that reduce fraud and enhance buyer and

seller confidence; remortgaging processes

that improve transparency, speed up

transactions, and mitigate conveyancing

fraud; and digital asset settlement that

connect tokenised customer money to

digital assets for seamless exchange.

The pilot will run until mid-2026 to

demonstrate tangible benefits to customers,

businesses and the wider UK economy

including giving users greater control over

their payments, stronger fraud prevention,

and more efficient settlement processes.

UKF considers the project “a vital part of

the UK’s efforts to deliver next-generation

money and payments via GBTD, by

applying new digital technologies to

the form of money most widely used by

consumers and businesses today.”

The platform aims to be fully

interoperable between new forms of digital

money, payment systems and institutions.

It also offers tokenisation-as-a-service,

ensuring that organisations without their

own tokenised deposit capabilities can

participate.

Participating firms currently include

Barclays, HSBC, Lloyds Banking Group,

NatWest, Nationwide, and Santander, with

support from Quant, EY and Linklaters.

The platform aims to be fully

interoperable between new

forms of digital money, payment

systems and institutions.

FCA unveils £9 billion car

finance compensation scheme

DRIVERS caught up in mis-sold car finance

deals could receive average compensation

of around £700 under a scheme announced

by the FCA.

Some 14m finance agreements signed

between April 2007 and November 2024

were affected by unfair commission

practices, leading to a potential £11bn total

bill once administrative costs are included.

Under discretionary commission

arrangements (DCAs), which were banned

in 2021, lenders let car dealers set customer

interest rates, rewarding them with higher

commissions for charging more — which

the FCA said “incentivised overcharging”

and breached fair treatment rules.

The regulator believes 44% of all car

loans issued since 2007 are affected. Some

consumers may be eligible for multiple

payments if they financed more than one

vehicle during the period.

NEWS

Online marketplace

scams

NEW research from Experian reveals that

37% of Britons have experienced a scam on

an online marketplace when buying and

selling goods directly.

Of the 2,002 people surveyed, 22% had

lost £51 to £100, 13% had lost over £250, 4%

lost between £501 and £1,000 and some lost

over £1000. Fake or counterfeit products

were the most common scams experienced

by 34%, with requests to pay off platform

representing 31% of scams, and items

never arriving after payment being 22% of

incidents. 58% of Gen Z surveyed said that

they had been exposed to scams compared

to just 20% of over-55’s.

As for planform risk, 19% indicated scams

originated on Facebook Marketplace, 15%

eBay, 12% TikTok Shop, 10% Vinted, and 4%

said Depop was involved.

Financial crime

blind spots

AN FCA survey of 270 corporate finance

firms found that 11% reported having no

documented business-wide risk assessment,

a requirement under Money Laundering

Regulations.

Other findings included 10% not retaining

documented evidence of customer due

diligence, 29% not conducting financial

crime risk assessments for their appointed

representatives, and 6% not monitoring their

appointed representatives’ compliance with

financial crime regulations or conducting

on-site visits or audits.

The FCA did identify examples of

good practice including firms regularly

updating their business-wide assessments

to reflect emerging risks, plus using detailed

management information to strengthen

financial crime controls. 97% also said

that they regularly report financial crime

concerns to senior management.


INSOLVENCY

INSOLVENCY

IN 2025

Lessons from another year of strain.

BY ALEXANDRA DAVIES

AS 2025 draws to a close, the

insolvency landscape looks very

different depending on which

industry you’ve been watching.

Some sectors have battled rising

costs and shifting consumer habits,

while others have held their ground

or even bounced back. If there’s one lesson to carry into

2026, it’s that insolvency risk clusters in the industries that

can least afford another knock.

Retail and hospitality

Retail has once again dominated the headlines. Claire’s

Accessories, a familiar name on the high street, fell into

administration in September before being part-rescued by

private equity. Quiz Fashion also went into administration

earlier in the year, shedding underperforming stores despite

a pre-pack sale keeping the brand alive. These cases underline

the continuing squeeze from online competition, high rent,

and consumers reining in spending.

Hospitality hasn’t fared much better. Upmarket Leisure Ltd,

which ran several Gino D’Acampo restaurants, entered prepack

administration after HMRC pursued it for millions in

unpaid tax. For restaurants and pubs, the December trading

window will be critical, but the reality is many are already

running on empty.

Margins under fire

The construction industry has seen insolvency rates stay

stubbornly high. Dozens of small and medium-sized

subcontractors have gone under each month, particularly in

finishing trades, plumbing and electrics.

For many, it wasn’t a lack of work that proved fatal, but

the cashflow lag between paying suppliers and getting paid

themselves. When the pipeline dries up or a main contractor

delays payments, smaller firms simply don’t survive.

Heavy industry and energy

One of the most striking collapses came from heavy industry.

Speciality Steel UK, part of the Liberty Steel group, was

declared “hopelessly insolvent” in the High Court this year,

leading to compulsory liquidation.

In the energy world, the Lindsey Oil Refinery made

headlines when its parent company entered insolvency in

June. With thousands of jobs and key infrastructure at stake,

government support and insolvency practitioners had to

step in to keep operations running while a buyer was sought.

These cases show that even nationally significant industries

are not immune when costs spike and markets shift.

Where resillience shone through

Not every story was bleak. Technology and professional

services firms generally weathered 2025 well, with steady

demand and flexible working models keeping them afloat.

Healthcare and pharmaceuticals also remained robust,

reflecting consistent demand and sustained investment.

Even leisure travel enjoyed a boost as consumers prioritised

holidays earlier in the year,

What to watch in 2026

Looking ahead, retail and hospitality will remain at risk.

Unless household spending power improves, discretionary

industries face another difficult year. Construction, too,

is unlikely to see much relief, with financing tight and

housebuilding uncertain.

On the other hand, growth areas are emerging. Green

industries, renewable energy, and digital services look set to

expand, presenting opportunities but also new insolvency

challenges stemming from. Digital assets or the complexities

of valuing renewable infrastructure.

Late payments remain a perennial villain. Businesses in

supply-chain heavy sectors such as logistics, wholesale,

construction should expect continued pressure here.

Final thoughts

The lesson is simple, insolvency doesn’t strike evenly;

it strikes where costs are rising fastest and margins are

weakest.

As we step into 2026, the market is unlikely to quieten.

Some industries will restructure and adapt; others may not

get the chance. For those of us in credit and insolvency, the

role is the same as ever: to spot the risks, manage them, and

when necessary, guide businesses through the storm.

And if there’s one seasonal thought to leave you with:

insolvency isn’t on anyone’s Christmas list, 2026 offers

the chance for renewal and for businesses to rebuild

on firmer ground. Wishing you all a wonderful festive

season and a happy, healthy and prosperous New Year.

Author: Alexandra Davies is a senior manager in

the business recovery team at accountancy firm,

Menzies LLP.


In Partnership with:

BOOK YOUR TABLE

If you require any assistance with your booking or would like

to discuss the package options further please contact Orhan Toprakci at

orhan.toprakci@incisivemedia.com or via 0207 484 9973

PLATINUM PACKAGE

• One fi nalist logo with your shortlisted category

and license

• One fi nalist social media tile with company logo

• Company logo on awards website, displayed on the big

screen, back page of the programme and on lightbox

• Table of 10 premium position including: Three-course

meal, bubbles on arrival, five bottles of wine, tea & coff ee

with petit fours, aft er dinner liqueurs and mineral water.

£6,475.00 +VAT

GOLD PACKAGE

• Table of 10 including: Three-course

meal, bubbles on arrival, magnum

of champagne, five bottles of wine,

tea & coffee with petit fours, after

dinner liqueurs and mineral water.

£5,935.00 +VAT

A MESSAGE FROM THE JUDGING CHAIR

"It has been an absolute privilege to, once again, be asked to Chair the Judging Panel. The judges represented all sections

of the credit sector and what shone through was their commitment to these awards and the integrity of the judging.

So much work goes into considering and analysing all the entries and then discussing and debating the final decision in each

category, and I am so grateful to those who give their time on a voluntary basis.

I have been particularly impressed this year by the breadth and quality of the entries and truly believe that the British Credit

Awards go from strength to strength. So, I offer my sincere congratulations to all the shortlisted entries, and my thanks to all

those who entered. And I very much look forward to celebrating with so many from the credit industry in February 2026."

Thursday 5 February 2026

The Royal Lancaster, London

THE 2026 FINALISTS

BEST USE OF

TECHNOLOGY AWARD

• Auquan

• DCBL

• London School of Economics

• Novuna Business Cash Flow

• Premier Paper Group Ltd

• Skyscanner Ltd

• Steris

• Taurus Collections (UK) Ltd

• Technology Services Group Ltd

CREDIT PROFESSIONAL

OF THE YEAR

• Arvind Kumar FCICM(Grad)

- Country Style Foods Ltd

• Claudia Crossland - Steris

• Darren Fowkes MCICM - Biffa

Waste Services Ltd

• Glenn Ruane - London School

of Economics

• Lyn Friday - Brabners LLP

• Rosie Payne MCICM - Saint

Gobain Ltd

• Stacey Smith MCICM - Biffa

Waste Services Ltd

CREDIT TEAM

OF THE YEAR

• Affinia Ltd

• Bill Gosling Outsourcing

• Brabners LLP

• DPD Group UK Ltd

• Marlowe Fire and Security

• Novuna Business Cash Flow

• Viasat Inc

• Vodafone Business

• Zurich Insurance Company

DEBT COLLECTION TEAM

OF THE YEAR

• Atradius Collections

• Bill Gosling Outsourcing

• Credit Management Group (UK)

Merseyside Ltd

• Flint Bishop

• Global Credit Recoveries

• MIL Collections Ltd

• Top Service Ltd

• Wilkin Chapman Rollits

ENFORCEMENT TEAM

OF THE YEAR

• Court Enforcement Services Ltd

• High Court Enforcement Group

• JUST

• Marston Recovery

• PPL PRS Ltd

EXCELLENCE IN

SUPPORTING

VULNERABLE CUSTOMERS

• Controlaccount

• DCBL

• Essex County Council - Adult

Social Care Income

• IRIS Software Group Ltd

• Welfare Together Ltd

GLOBAL CREDIT

OPERATIONS TEAM



• Remedy Credit

• Sage

• SEFE Energy

• Skyscanner Ltd

• Steris

INNOVATION

OF THE YEAR

• Co-pilot

• SEFE Energy

• Skyscanner Ltd

• Steris

LAW FIRM OF THE YEAR

• BW Legal Services Ltd

• Coltman Warner & Cranston

LLP

• DWF Law LLP

• Flint Bishop

• Harwood & Co

• Spencer West LLP

• Zakia Khalid Freelance

Solicitor

OUTSTANDING

CONTRIBUTION

TO THE INDUSTRY

• Charles Mayhew FCICM

• Kanwel Jayanath FCICM

• Laurie Beagle FCICM

• Tina Daulton FCICM

RISING STAR

• Aishwarya Bhonsale - Apex

Litigation Finance

• James Evans - DPD Group

UK Ltd

• Nicole Bridgewater -

Bill Gosling Outsourcing

• Philip Stoker - Biffa Waste

Services Ltd

• Rose Tomlinson - Novuna

Business Cash Flow

RISK MANAGEMENT

TEAM OF THE YEAR

• Company Watch

• identeco Business Support

Toolkit

• The Order to Cash

Laboratory Ltd

SUPPLIER OF THE YEAR


• Company Watch

• Credit Management Group (UK)

Merseyside Ltd

• Esker Northern Europe

• FIS


• Top Service Ltd

SUPPORTING THE

COMMUNITY

• Biffa Waste Services Ltd

• CTCC Solutions Ltd

• IRIS Software Group Ltd

• Sage

• Spencer West LLP

• The Order to Cash

Laboratory Ltd

TEAM PLAYER

OF THE YEAR

• Emma Hadley -

Saint-Gobain Ltd

• Georgia Norman - DPD Group

UK Ltd

• Gillian Davidson - Sage

• Leanne Foot - Biff a Waste

Services Ltd

• Oliver Ramsden -

MIL Collections Ltd

• Peter Drew - Premier Paper

Group Ltd

• Rabia Pervez - Steris

• Stacey Brown - Skyscanner Ltd

TECHNOLOGY

DEVELOPMENT


• Company Watch

• Controlaccount

• Steris

• Tarmac Trading Ltd

ANNOUNCED ON

THE NIGHT....

• Shared Services Team Provider

of the Year

• Lender of the Year

• Sir Roger Cork Prize

• Excellence in Credit

Management

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


INTERVIEW

HEALTHY

AMBITIONS

Credit management in the the NHS is ultimately

about supporting the clinical front line staff.

BY JOANNE LAFFERTY

OMAGH, County Tyrone, Ireland,

is a town of three rivers, situated

in an agricultural plain surrounded

by highlands and mountains, and

is where Joanne Lafferty of Health

and Social Care Northern Ireland

(HSCNI) grew up. As a young girl,

she loved walking through the countryside to the small

rural Primary School in Edenderry which closed its doors

in June 1991 with just ten pupils when she then had to

move to a town Primary School for her final year of

Primary, her daily countryside stroll was then replaced by

a bus ride to school with ten times the number of pupils,

it was a rude awakening to a different pace of life.

Yet despite the dramatic change and, no love of academia,

she excelled in her secondary level exams and enrolled in

a GNVQ Business and Finance course at Omagh College.

Joanne studied by day and earned pocket money by night,

mopping floors at her local Healthcare Trust. This was

the inauspicious start to a career in the NHS, which has

seen sweeping changes and challenges along the way.

After College, Joanne went to the University of Ulster,

Jordanstown, Belfast, to study HND Business and Finance

with a one-year placement. During this time, she worked

as a Medical Receptionist at the local Hospital Trust

Health Centre. “It was quite a difficult job,” she says, “but

I learnt a lot in the demanding role of patient care and

gained confidence and resilience.”

After graduation, Joanne’s first job was at the Northern

Ireland Centre for Trauma and Transformation

(established after the Omagh bombing), and from

there she swiftly moved to the Western Healthcare

Trust, transferring initially into Management accounts,

Financial Assessment Team and later into the Accounts

Payables Team.

After a few years, the HSCNI was restructured as Shared

Services in 2013, resulting in the Accounts Payable

function moving to Ballymena, County Antrim, while

the Accounts Receivables function remained in Omagh,

which, as Joanne explained, “We retained the income

functions from all Healthcare Trusts across Northern

Ireland”. She was now a Band 5 Team Leader, and with

the rest of the team, helped consolidate the Income

Shared Services Centre and says her previous HSCNI

experience within Management Accounts and Accounts

Payable proved extremely beneficial.

Lynette Fegan, Head of Accounts Receivables, HSCNI

Income Shared Services at the time recommended that

the Centre put itself forward for CICM, and in March

2017, SSAR successfully achieved the CICM Quality

Accreditation. “This was our first step towards our vision

of achieving Centre of Excellence Status by 2020,” explains

Joanne, “Throughout this process, we demonstrated our

commitment to continuous improvement, best practice,

excellence and quality.” Joanne fully embraced the

challenge: “I got really involved in invoicing and credit

control, and we began experimenting with different

approaches to improve the Billing and Credit Control

functions.”

SSAR successfully maintained CICMQ accreditation,

achieving re-accreditation in March 2019 and, its vision

of achieving CICM Centre of Excellence Status was

achieved by the Centre in 2019.

They also retained the CICMQ re-accreditation in

November 2020 following a mid-year review, despite the

challenges presented by COVID-19. “We demonstrated

throughout this process our commitment to continuous

improvement, best practice, excellence and quality”

says Joanne “with many improvements coming from the

impact of COVID-19 and the lockdowns”.

Like many, her team switched to using Microsoft Teams

which changed the dynamic of working relationships:

“We were able to talk face to face with stakeholders

more often, which improved our communication and

efficiency. Before that, meetings involved hour-long car

trips up country and then back again, wasting more


CREDIT MANAGEMENT

“We demonstrated throughout this process our

commitment to continuous improvement, best

practice, excellence and quality.”

Brave | Curious | Resilient / www.cicm.com / December 2025 / PAGE 15 continues on page 16 >

INTERVIEW

“Sometimes patients are in at night and gone

in the morning – and it isn't the nurse’s job

to chase the money. If they’ve come from

overseas, once they leave Northern Ireland, the

debt is potentially then written off, but all the

money you recoup goes back into paying frontline

doctors and nurses. Because it’s important,

it is another strain which can become

enormous– if you let it.”

than two hours of the day.” But, as Joanne explains: “it is

more than simply time-saving. It fosters better relations

because it is easier to connect and have discussions

where documents and presentations can be shared easily,

so we share more. Income officers can now join those

operational meetings and have a more direct link with

stakeholders, which ultimately helps when they are trying

to resolve queries. Officers also learn how their work fits

into the overall picture and that has, for example, fostered

greater understanding with the Trust’s retained finance

staff. Those improvements in communication contributed

to our distinction in the CICM Accreditation.”

Technology is also helping to improve efficiencies

with automation: “We are continuously looking for

improvements, ways to become more efficient, and”, says

Joanne, “are trying to determine how automation will help

us.”

Joanne was promoted to a Band 7 Service Delivery

Manager in February 2021, along with a new Interim Head

of Shared Services for Accounts Receivables, so there was

new learning both for herself and the new Head of Service.

Although the change was challenging, Joanne’s confidence

grew because she felt inspired by the trust placed in her

by the new Head of Accounts Receivables and learned

from her approach: “She was someone who always had

your back and was really caring and compassionate,

giving you time when you needed it, and the benefit of

her experience to everyone,” says Joanne, “She had a very

calm, structured, organised approach which I really liked

and still use today.”

Joanne’s latest challenge has been working as an SME

(Subject Matter Expert) to source, design and implement

a new ERP system for Income Management, which will

impact all Trusts, from Human Resources to Finance.

This system will provide an order-to-cash integrator and

require her team and stakeholders to adopt different ways

of working across the whole health service.

“Most private sector businesses are likely to have state-ofthe-art

systems in place, and they may even use off-theshelf

solutions. But,” Joanne explains, “the HSCNI isn’t

like a business, there is a real variety in the debt types that

the department manages, from medicines and medical

equipment hire, services such as clinical trials, research,

the sale of assets, to nursery care and foster care for 16

Healthcare trusts”.

“We also collect payments from health centres and GP

practices, employees, private individuals paying or

claiming through health insurance, and other patients

who require treatment while in NI from overseas. You

can be dealing with vulnerable people with a difficult

diagnosis, such as cancer or dementia, or perhaps relatives

who have lost a family member and are navigating powers

of attorney and appointees, etc. – the emotional toll of all

that can be huge. “Sometimes patients are in at night and

gone in the morning – and it isn't the nurse’s job to chase

the money. If they’ve come from overseas, once they leave

Northern Ireland, the debt is potentially then written

off, but all the money you recoup goes back into paying

front-line doctors and nurses. Because it’s important, it is

another strain which can become enormous– if you let it.”


CREDIT MANAGEMENT

Realising those stresses on the team, they all received

CICM vulnerability training and, from there, created a

vulnerability policy. Realising those stresses on the team,

they all received CICM vulnerability training and, from

there, created a vulnerability policy. All new staff are

trained and assigned to a team leader. “They are taught that

if things get too difficult, whether it is a lack of capacity or

a difficult conversation, they can take time out, talk to their

team leader, and find tools on a portal for helping with

mental health issues and managing stress,” Joanne explains.

Recognising that credit management in any industry can

be stressful, her advice for new starters is: “Try to stay calm.

I firmly believe in knowing what is in your control and

what is outside your control, and if it isn’t in your control,

you don’t need to worry about it. I find being organised

reduces stress, but most importantly, when the end of the

day comes, switch off and spend time with your family.”

If things get tough, having a colleague you can talk to

helps. To help you keep moving forward in your career,

write down your achievements in a diary as the year goes

on. You might think you haven’t achieved anything until

you look back and see what you have written down. And

reward yourself for your success – I bought myself a new

car when I achieved a Permanent Service Delivery Role.”

She laughs. “It helps motivate you to keep moving forward,

and you shouldn’t be afraid to try new challenges, even if it

is uncomfortable, volunteer to do something outside your

remit.”

Author: Joanne Lafferty of Health and Social Care Northern

Ireland (HSCNI).

‘‘I firmly believe in

knowing what is in your

control and what is

outside your control, and

if it isn’t in your control,

you don’t need to worry

about it. I find being

organised reduces stress,

but most importantly,

when the end of the day

comes, switch off and

spend time with your

family.”


ENVIRONMENTAL

BRIDGING THE

ENVIRONMENTAL

FINANCE DIVIDE

As the world struggles with competing political narratives over

a “greener” future, how can the finance industry play its part in

ensuring a more prosperous, as well as environmentally friendly,

economy and society?

BY STEPHEN KIELY


CREDIT MANAGEMENT

AS October began, the finance

industry was struck by the news

that the Net-Zero Banking

Alliance is to close, after a vote

to wind up the group, which

had already lost many of its

members amid pressure from

some US politicians, who claimed that membership

breached anti-trust regulations.

The alliance, set up in 2021, was a major banking industry

body leading the sector's global effort to cut carbon

emissions. After many big banks left, in August, an

overhaul was proposed to create a "framework initiative"

rather than a membership-based organisation.

Instead, it will now cease operations immediately,

although its resources will remain available.

Finding a balance

Such a dramatic step is only one part of a story where

lenders increasingly find themselves in the headlights

of political debates over how best to prioritise

environmental concerns, financial growth, and a range

of other social issues.

One attempt to provide a framework for this effort came

in July, when the Science Based Targets initiative (SBTi)

launched its Financial institutions Net-Zero Standard.

This standard aims to provide “clear, actionable sciencebased

guidance” for financial institutions to align their

work with limiting global warming and achieving netzero

by 2050 at the latest.

The new framework:

• Expands asset class coverage to ensure broad

applicability.

• Requires the improvement of the quality and

transparency of emissions inventories.

• Allows financial institutions the option to focus

on the net-zero alignment of their customers, as an

alternative to setting pathways for financed emissions.

• Provides guidance on decarbonising the built

environment.

Alberto Carrillo Pineda, Chief Technical Officer at the

SBTi, sets out the challenge for the industry: “Financial

Institutions have the ability to play a transformative

role in the transition to net-zero. Their influence on

the global economy and ability to engage with their

portfolios is unparalleled to accelerate the net-zero

transition.”

‘A just transition’

Such industry initiatives have a long tradition. Back

in 2020, the Grantham Institute at the London School

of Economics and UK Finance produced a report,

‘Financing climate action with positive social impact:

This standard aims

to provide “clear,

actionable sciencebased

guidance” for

financial institutions

to align their work

with limiting global

warming and achieving

net-zero by 2050 at

the latest.

How banking can support a just transition in the UK’.

It recognised that, under the Paris Agreement on

Climate Change, a ‘just transition’ would need to see

the interests of workers being upheld in the shift to a

resilient, net-zero economy by 2050. In achieving this

fair transition, it accepted that the finance sector would

need to play a crucial role, and set out recommendations

for how the industry can build on existing initiatives

and support this goal:

• Leadership – Board-level commitment to ensuring

that the transition is incorporated into institutional

strategies and culture.

• Purpose – Ensure transition is central to the industry’s

core purpose and business model, and that it is

embedded in its strategic objectives.

• Strategy – Create a clear institutional action plan for

how banks can operationalise the just transition.

• Customers – Serve customers by developing a core

portfolio of financial products and services that help

them achieve net zero in a socially inclusive manner.

• Place – Continue to work with key stakeholders in

different parts of the country to respond to the diverse

needs throughout the just transition.

• Policy– Engage actively with policymakers to

encourage the right environment for transition and

system-wide innovation.

• Partnership – Engage in dialogue with government,

business, trade unions, and civil society to integrate

emerging needs and develop breakthrough

partnerships.

• Accountability – Report on progress towards just

transition goals in each firm’s Strategic Report in the

Annual Report and Accounts.


continues on page 20 >

ENVIRONMENTAL

“The cost of transition will be substantial and

require significant financing. Without the

necessary funding, we risk stranded or ‘zombie’

properties. To manage these risks and support the

transition to net-zero, investment for adaptation

and mitigation is crucial.”

Setting out the report, Bob Wigley, Chair of UK Finance,

admitted that, although progress had been made,

there was still a long way to go: “Banking and finance

firms already play an important part in supporting

local networks comprising of corporates, SMEs, local

authorities, universities and other sources of expertise.

As part of this, we will continue to help mobilise capital

in a way that takes account of local community needs.”

Driving ambition

Even as the political sands shift, many lenders are,

clearly, still focused on seeking new ways to both act

in an environmentally responsible way, and also share

knowledge to encourage those organisations they work

with. Business lender, Novuna Business Finance, now

regularly shares advice on achieving sustainability to its

SME customers through a podcast, which highlights realworld

examples of good practice.

Jo Morris, Head of Insight, says: “Listening to SMEs over

the last 18 months has shown me that sustainability is not

about perfection – it is about creativity, commitment,

and practical action. These businesses are leading by

example, and their efforts demonstrate that sustainable

growth and commercial success go hand in hand.

“Many want to do more on sustainability but are not

always sure where to start. Sometimes it is a lack of

financial resources, other times uncertainty about what

is required, and often the landscape can feel complex.

That is why we help break it down into achievable steps,

celebrate progress, and give businesses the confidence to

act and keep building from there. That is the real power

of learning by example.”

Need for information

A lack of knowledge about legal requirements and best

practice is clearly a barrier for some creditors when

working to meet their environmental obligations.

Research by The Mortgage Works has found that a

lack of awareness of the requirements around energy

performance certificates (EPC) and upcoming regulation

is hampering the Government’s efforts to improve the

energy efficiency of properties within the Private Rented

sector.

It found that nearly two-thirds (62%) of landlords

are unaware that having an EPC is a legal requirement.

When it comes to the proposed requirements and what

the energy efficiency requirement will be by 2030, only

one in three (33%) know it is a C-rating. Nearly threequarters

(73%) of landlords also do not know the proposed

dates when the new regulation comes into force.

Dan Clinton, Head of Buy to Let at The Mortgage

Works, says: “Changes to Minimum Energy Efficiency

Standards have been under discussion for some time,

but our research shows limited landlord awareness, with

some looking to exit the market.

“Improving the energy efficiency of private rented homes

is important, but the significant logistical and financial

challenges of upgrading 2.5 million properties must be

acknowledged.”

He concludes by speaking for many at a time of diverging

political and social priorities: “Striking the right balance

between environmental progress and housing stability is

crucial. To safeguard continued investment and protect

tenants from higher rents or reduced supply, landlords

need clear guidance, adequate support, and sufficient

time to make their properties greener.”

Legal obligation

The reality is that, despite political caution in some

areas, the general direction of travel is clear, and, whilst

the industry is already voluntarily moving to a greener

future, it may soon, legally, have no choice but to do so.

On 23 July 2025, the International Court of Justice (ICJ)

issued a landmark advisory opinion on the obligations of

states in relation to climate change. Lorraine Johnston,

Partner at Ashurst LLP considers that, while the

financial services sector is already heavily regulated, the

ICJ's opinion could indirectly shape its future, across a

range of key considerations:

• Fossil-fuel projects are likely to be particularly

susceptible to legal challenges. This could see increased

regulatory pressure on banks not to finance fossil fuel

activities, and to scale up transition-focused financing

and green lending.

• The ICJ opinion confirms, in particular, that: “A state

may be responsible where, for example, it has failed

to exercise due diligence by not taking the necessary

regulatory and legislative measures to limit the


CREDIT MANAGEMENT

quantity of emissions caused by private actors under its

jurisdiction.” Banks and financial services firms need to

be prepared for heightened expectations of flow down

due diligence, robust disclosure, and credible transition

planning as a result of increasing international pressure

on states and businesses to manage climate-change risks.

• Climate litigation risk is likely to increase for

financial services companies. In March 2025, the Dutch

environmental organisation, Milleudefensive, brought

a claim against ING Group and ING Bank in the

Amsterdam Court. As part of its claim, Milieudefensie

has requested that ING stop providing funding to

companies involved in new oil and gas projects, and that

ING's major corporate clients present credible climate

plans. The ICJ’s finding that climate change duties arise

across a variety of international legal contexts is likely

to encourage further domestic litigation, such as this,

against companies, including banks and financial services

firms.

• The ICJ opinion emphasises that climate change requires

states to take individual measures in co-operation with

other states. In contrast, several US states have recently

pursued anti-ESG laws and litigation, which diverges

from the position taken by the ICJ. This highlights a

growing tension in how states are approaching climate

responsibilities - financial services companies need to

navigate these competing interests carefully.

Conclusion

‘So where does this leave us?’ is the question that the

industry is asking itself today, with significant political,

legal, and regulatory pressures seeming to pull it in

oppositive directions.

This was also a question posed by Sarah Breeden, Deputy

Governor for Financial Stability at the Bank of England, in

giving the Chapman-Barrigan lecture in July. And, at least

from a UK point of view, she was clear that the industry

still needs to take its environmental obligations very

seriously. In her speech, entitled ‘Avoiding the storm’, she

concluded that: “The storm, or at least the beginnings of it,

is already upon us. And so it is vital for us now to work out

how to weather it.”

With a focus on the mortgage finance industry, she insisted

that this meant climate risks are real and tangible, and,

as they become more imminent, property valuations

may change rapidly. Property owners and lenders could

face significant risks, particularly if insurance protection

becomes unavailable.

How banks are “going green”

How lenders are incorporating environmental concerns

into industry best practice, by Paweł Stężycki, Former

Senior Fintech Innovation Consultant at Netguru

• Limiting exposure to carbon-heavy industries –

Lenders should price the borrower's complete carbon

footprint, putting pressure on the biggest CO2 emitters.

Such costs would make carbon-emitting projects more

expensive and some lenders may wish to avoid highcarbon-risk

projects altogether.

• Preference for more sustainable vendors - The number

of organisations requiring providers to measure

their Environmental Social and Governance (ESG)

performance has grown rapidly in recent years, and

ESG finance has evolved from socially responsible

philosophies into its own form of responsible finance.

For example, Bank of America aims to ensure that

70% of its global suppliers set targets for reducing

greenhouse gas emissions or renewable energy.

• Making retail banking rewarding to environmentallyfriendly

consumers - As consumers become more

environmentally conscious, they are willing to pay

more for sustainable consumer brands and services. For

example, Bunq lets consumers choose how they invest

their money and has already planted over four million

trees.

• Supporting ESG initiatives within CSR policies -

In recent years, the adoption of a corporate social

responsibility (CSR) policy has become a significant

factor in a company's brand reputation. Because ESG

provides quantifiable data on the company's use of

natural resources, conflict minerals, social composition,

and impact, CSR and ESG policies should be aligned.

• Consistency in actions - Consistent action is necessary

to avoid accusations of greenwashing. One example

of such accusations is JPMorgan Chase. The bank has

committed to meeting the goals of the Paris Agreement

and providing $200bn in clean, sustainable financing

by 2025, but at the same time it tops the list of banks

financing fossil-fuel projects.

Her conclusion was stark: “The cost of transition will be

substantial and require significant financing. Without the

necessary funding, we risk stranded or ‘zombie’ properties.

To manage these risks and support the transition to netzero,

investment for adaptation and mitigation is crucial.”

It is a message that the finance industry, as a whole, must

continue to take to heart.

Author: Stephen Kiely is a freelance business writer.


CREDIT FEST 2025

A CICM CREDIT

FEST ROUND UP

A round up of the CICM’s multi-day, multi-location event covering the

hottest topics, best practices and industry insights in credit management

and debt collection.

BY BECKI SHARPE ACICM

CICM delivered a full-throttle

Credit Fest roadshow this autumn.

Hitting Birmingham, Manchester,

London, and Bristol between 16

September and 19 November,

the atmosphere was buzzing.

The event was highly interactive,

fostering a genuine community spirit with ample

time for networking and connections across the credit

profession. Attendees got straight to the point on

what it takes to survive and thrive in today's turbulent

economic climate.

The most urgent topic on everyone’s mind was cash

flow. With a staggering £112 billion locked up in

unpaid UK invoices, the collections message was loud

and clear: act with speed and empathy. Sam Evans

FCICM from Court Enforcement Services got real

about debt recovery in “High Court Enforcement:

As NOT Seen on TV”, stressing that if you have

a judgment, escalating it quickly is the most costeffective

and powerful way to recovery.

For the day-to-day, the CICM’s own Jules Eames

FCICM(Grad) brought the energy with “Back to

Basics: Collections with a Kick!” She drilled down

on the human element - be organised, prioritise, and

use a balanced mix of honesty and empathy when

you pick up the phone. Lucy Stagg FCICM and John

Donovan of Atradius clarified that bringing in an

agency is not a failure but a strategic move, creating

the necessary perception of escalation that motivates

debtors to pay.

The future isn’t coming – it’s here, and it’s powered

by AI. Matt Tipper and Martyn Brooke FCICM from

Esker explained how AI automation is taking over the

tedious work in the O2C cycle, allowing the finance

team to function as ‘growth architects’. In the call

centre, Emma Reynolds of TCN confirmed in her talk

that AI should be used for Agent Augmentation (realtime

coaching) and Agent Automation, asserting that

evolution favours those who use better tools. But a

critical legal check was provided by Jayne Gardner

FCICM and Edward Flanagan of Shakespeare

Martineau in “AI and Credit”. They hammered home

that meaningful human control is mandatory, because

the ultimate responsibility for AI errors rests with the

human or company using it.

The Credit Fest confirmed that the credit manager’s

role is shifting to a strategic expert. Tim Vine of

Dun & Bradstreet tackled fraud in “Beyond First

Impressions”, warning that with rising B2B identity

fraud, customer onboarding must become a rigorous,

data-driven defence mechanism.

Natascha Whitehead FCICM of Hays presented

research showing that while global instability

defined the last decade, automation will elevate the

credit role, focusing entirely on relationships and

strategic communication. Philip King FCICM of

Top Service championed the power of connection in

“Conversation + Collaboration = Communication”,

showing how intelligence-sharing saves companies

from massive fraud losses.

Finally, Giuseppe Parla of Menzies provided a clear

plan for the worst-case scenario, walking through

the different insolvency options in his survival guide,

“Navigating through the Mindfield of the Insolvency

world”.

A big thank you to our co-hosts, Hays along with

all our speaker throughout this tour. We are already

looking forward to Credit Fest 2026!


CREDIT MANAGEMENT

Festive

Greetings

to all our CICM members from

the editorial and marketing team.

COMMUNICATION

COULD WE

COMMUNICATE

BETTER?

Why the best business outcomes still depend

on people talking to people.

BY PHILIP KING FCICM

I

was privileged to represent Top Service at

the 2025 CICM CreditFest events held in

Birmingham, Manchester, London, and

Leeds in recent months. They were great

events and it was suggested I might share

some of my thoughts with a wider audience

through this magazine.

Let me start with the warning I gave the attendees at

each event. There’s nothing here that you don’t already

know. Rather, my intention is to make us think about

how we communicate and consider if an alternative

medium might make us more effective.

Chambers Dictionary defines communication as

“to succeed in conveying one’s meaning to others”.

That’s surely what we all set out to do when we start

interacting with anybody so why does it sometimes go

so spectacularly wrong?

Modern communication

I’m sure we’ve all misunderstood the intention of an

email and reacted more stridently than we should,

or we’ve sent something quite innocuous but the

tone or wording we’ve used has resulted in it being

misinterpreted and led to some backtracking and

explanation. Might a conversation have worked better?

I recently shared a disastrous chatbot exchange which

resulted in me being asked about facial or fingerprint

recognition, and avoiding fees and charges, presumably

because the bank hadn’t yet taught the bot about CIFAS

markers being raised on an account! Eventually, a real

conversation produced a satisfactory outcome.

Has the phone fallen silent?

Let’s talk about the phone. I wonder how Alexandra

Graham Bell would have felt in 1876 if he’d known

how little the device he invented would be used for

its intended purpose 150 years on. A Uswitch survey

in 2024 found that 25% of 18-34 year-olds never answer

their phone. They want a text first or respond by text

before having a conversation.

And whatever happened to simple telephone

conversations. These days, I suggest a follow-up

conversation to someone and they tell me they’ll send

me a meeting invitation. I then sit in front of my

computer, while they sit in front of their computer,

as we look at each other for ten minutes and have the

conversation. It can be useful but is it really always

necessary?

Communication is a people thing

People buy from people, people pay people, people talk

to people.

That’s why I have a bad taste in my mouth, before I’ve

even started eating, when I’ve stood at the podium at

a restaurant entrance being ignored by several staff

members waltzing backwards and forwards until the

appointed person comes across and greets me with

a big smile. If only staff were trained to acknowledge

customers when they see them waiting.

That’s why Mrs King didn’t buy a car from a particular

dealership earlier this year. The salesman didn’t smile,

didn’t make eye contact, didn’t seem interested, and just

went through the motions without showing any real

interest. The car was probably ideal but the interaction

failed. People buy from people.

That’s why in 1978, at the start of my career in credit, I

used to telephone a customer every Monday morning;

we’d chat about the weather, football, weekend activities

and all manner of things, but rarely mentioned money.

If I called him on Monday, his weekly cheque would

arrive on Wednesday. If I didn’t call him, it wouldn’t.

People pay people.


CREDIT MANAGEMENT

Some conversations, and especially difficult ones, need

more than just words. When we sit with someone, we

pick up the unsaid. Body language, eye movement,

gestures all help us to learn what’s going on beneath the

surface and gain a better understanding. These are real

people conversations: telephone, Zoom, email won’t cut

the mustard.

When talking pays off

In my presentation I shared some examples of Top

Service members who had benefitted from the

organisation’s passion for conversations and sharing.

Two were from member support activity and two from

the debt collection team.

A member was concerned about an application for a

£75,000 credit line from a potential customer. Her call

into the team generated some further calls and the

team identified that the application was fraudulent.

As a result, the member - and several others - avoided

being duped into supplying significant sums. Another

member was nervous about an application for

substantial credit. Her call into the team led to the

unearthing of a number of other similar applications,

alongside negative information. They, and other Top

Service members, declined the facilities requested and

were saved from substantial losses.

The close monitoring of a winding-up petition allowed

the debt collection team to act when the petitioner

was paid and the petition withdrawn. Quick action

allowed the full six-figure sum to be collected in full

within 11 days of instruction, with an additional £10,000

recovered for late payment interest and compensation

charges.

The final example related to a member of the debt

collection team noting a complete change in the tone

of voice from a member of the debtor’s accounts team

who moved from “the payment will be on the next

run” to “I need to get authorisation to add to the next

payment run” when it had failed to arrive. The collector

spotted nuances in the voice of the other party. As

a consequence, further digging revealed an as yet

unadvertised winding-up petition. The Top Service

member supported it and got paid.

All four examples pay tribute to the monitoring activity

and speed of contact but, more importantly, they

demonstrate the value of real and timely conversations

that allowed quick decisions to be made. People working

with people get positive results.

Try it and see the difference

My challenge to CreditFest attendees was to go away and

think before one interaction each day. Will a text elicit

a simple piece of information without adding to the

recipient’s inbox? Is it quicker to wander to someone’s

desk and ask them for an update and avoid the writing,

responding to, and reading of emails? Could popping

your head round the boss’s door and asking for a chat,

or picking up the phone, work better than creating a

long email chain providing the background and story,

then answering questions that arise, before getting into

the process of agreeing next steps?

Do that enough, it will become a habit, and we’ll be

more effective. Why not give it a try.

Author: Philip King FCICM is a non-executive director

at Top Service Ltd.


Introducing our

CORPORATE PARTNERS

Hays Credit Management is a national specialist

division dedicated exclusively to the recruitment of

credit management and receivables professionals,

at all levels, in the public and private sectors. As

the CICM’s only Premium Corporate Partner, we

are best placed to help all clients’ and candidates’

recruitment needs as well providing guidance on

CV writing, career advice, salary bench-marking,

marketing of vacancies, advertising and campaign

led recruitment, competency-based interviewing,

career and recruitment trends.

T: 07834 260029

E: karen.young@hays.com

W: www.hays.co.uk/creditcontrol

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.

T: 01789 416440

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

W: www.shma.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 orderto-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.

T: +44 (0)1332 548176

E: sam.townsend@esker.co.uk

W: www.esker.co.uk

The UK’s No1 Insolvency Score, available as a

platform to help businesses manage risk and

achieve growth. The only independently owned

UK credit referencing agency for businesses. We

have modernised the way companies consume

data, to power businesses decisions with the most

important data taken in real-time feeds, ensuring

our customers are always the first to know. Enabling

them to deliver best in class sales, credit risk

management and compliance.

T: +44 (0)330 460 9877

E: sales@redflagalert.com

W: www.redflagalert.com

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.

T: +44 (0)2073 875 868

E: creditorservices@menzies.co.uk

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

Dun & Bradstreet is a leading provider of

comprehensive global business data and

analytics. We help clients make smarter decisions

and drive resilience by bringing together millions

of data sources into a globally consistent view,

underpinned by our D-U-N-S number.

T: +44 (0)808 239 7001

E: hello@dnb.com

W: www.dnb.co.uk

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 cloudbased

omnichannel platform, Commpli.

T: +44 (0) 141 280 0275

E: sales@geniusssl.com

W: www.geniusssl.com

Transform your Accounts Receivable with

Corcentric’s Managed AR Solution. Our

commitment? Dramatically reduce your Days Sales

Outstanding (DSO) to just 15 days. By combining

expert AR management with strategic funding

solutions, we enhance cash flow and streamline

operations, freeing up resources and reducing costs.

Discover a new standard in AR efficiency—because

better cashflow starts with smarter

AR management.

T: 020 317 71713

E: ahassan@corcentric.com

W: corcentric.com

Automate your cash collections and reduce risk

with our class leading Credit Control software.

Integrating with any ERP/AR system and optionally

Creditsafe, it provides a full viwew of your ledger

whilst automating your chasing strategies and

removing manual tasks. All backed up by our

support service which has that rare human touch,

continually strengthening our customer relationships.

With an impressive ROI and 96%+ customer

retention year-on-year, our solution consistently

delivers measurable value and benefits.

T: 01235 856400

E: info@credica.co.uk

W: www.credica.co.uk


Each of our Corporate Partners is carefully selected for

their commitment to the profession, best practice in the

Credit Industry and the quality of services they provide.

We are delighted to showcase them here.

They're waiting to talk to you...

My DSO Manager is an intelligent SaaS AR

and credit management solution for SMEs to

international enterprises, helping AR analysts

manage risk, maximize cash collection and

streamline the credit-to-cash cycle, by a real-time

insight to KPIs.

Due to its inventive in-house IT teams and their

tight collaboration with support staff, many of

whom were credit managers at large firms, it can

quickly integrate any ERP data and customize as

needed.

T: +33 (0)458003676

E: contact@mydsomanager.com

W: www.mydsomanager.com

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.

T: 07759 122503

E: s.evans@courtenforcementservices.co.uk

W: www.courtenforcementservices.co.uk

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.

W: www.fisglobal.com.

TCN is an industry leader in call centre technology

with offices around the world including, the United

Kingdom, the United States, Romania, Canada,

India and Australia. TCN has met the global

communication needs of its diverse customers.

Utilising best-practice solutions and 24/7 technical

support, TCN empowers clients to drive consumer

interactions through omni-channel, inbound and

outbound communications. TCN’s call centre

platform is entirely web-based and available

on-demand with unlimited capacity.

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

E: spencer.taylor@tcn.com

W: www.tcn.com

Top Service Ltd. 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 and

make the best, most informed credit decisions.

Coupled with our range of effective debt recovery

solutions, quite simply our members stay one step

ahead and experience less debt and more cash.

T: +44 1527 503990

E: membership@top-service.co.uk

W: www.top-service.co.uk

TOP SERVICE

MINIMISE DEBT

MAXIMISE C ASH

Novuna Business Cash Flow provides fast, flexible

cashflow 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.

T: +44 808 258 5934

E: marketing@novunabusinesscashflow.co.uk

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

Key IVR provide a suite of products to assist

companies across Europe with credit management.

The service gives the end-user the means to make a

payment when and how they choose. Key IVR also

provides a state-of-the-art outbound platform

delivering automated messages by voice and SMS.

In a credit management environment, these services

are used to cost-effectively contact debtors and

connect them back into a contact centre or

automated payment line.

T: +44 (0) 1302 513 000

E: partners@keyivr.com

W: www.keyivr.com

STA International is a leading credit management

provider, offering debt recovery, outsourced credit

control, address tracing, and legal debt recovery

services. We maximise cash flow and minimise

risk with tailored strategies for businesses of

all sizes. Acting as an extension of your team,

we ensure efficient, amicable collections and

compliant solutions for complex cases. Trust STA

International to safeguard your financial health and

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


DEBT

CALCULATED

SHIFT

With challenger banks testing the waters and forward flow

deals extending to five years or more, the UK debt sale market

is adapting to a new competitive landscape.

BY SAM JOSHI

UK banks, lenders and other

financial institutions have been

selling portfolios of debt for well

over 20 years. It’s a market that

is well established, respected and

functions effectively. It enables

firms to realise a value that might

otherwise have been written off and is generally beneficial

for the seller’s customers who get better opportunities of

becoming debt free.

In recent years, the market has changed. There are now a

smaller number of larger buyers. The number of sellers has

also changed, as has the type of seller coming to market.

Whereas once the domain of the major banks, credit card

companies, lenders and mail order firms, today some of

the more niche players have been added to their ranks,

including challenger banks.

Much as the sellers have changed, so too have the types

of contracts being agreed. Historically, banks followed a

collections strategy that was contingent heavy, working

with a small number of large debt collection agencies

(DCAs) to recover what they could, once their own teams

had exhausted their own efforts. Then came the first

tentative steps at selling, usually a spot sale on a one-off

basis to test the theory.

Over time, spot sales have given way to more regular,

forward flow agreements of anything between 24-36

months, bringing certainty to buyer and seller alike.

Today there are examples of forward flows that are even

longer, with deals of up to 60 months being discussed,

with a pricing review at the mid-way point and the option

to move elsewhere if the set-up is no longer satisfying

the seller’s NPV model. Spot sales have not disappeared

altogether, but they tend to be less frequently observed.

The fact that the financial services community continues

to sell is not a surprise. The early adopters were those that

realised that to invest in back-office collections was not

an especially productive use of resource. First recourse was

to outsource; then came the option of selling. Both give

the answer the financial firm is looking for and allows

them to focus their time and resource in areas that they

deem more productive, such as origination. They have

come to understand that their customers are generally

better accommodated in the hands of a specialist buyer.

This applies as much to the ‘mainstream’ customer as it

does the vulnerable; indeed, there are plenty of examples

of sellers selling portfolios of ‘vulnerable’ debt. For the

seller, it means putting a debt in the hands of a trusted

expert, without fear of customer detriment. From the

purchaser’s perspective, it means acquiring a portfolio

of customers who are already engaged in the collections

process, who recognise their situation, and are more

welcoming of a plan being agreed that satisfies all parties.

Challenger banks are aptly named as they present a very

different challenge to buyers compared to the traditional

high street lenders. By design, their customers are often

those who are not as well served by the mainstream and

so often come with a higher risk profile. There is also

less data as regards to how they behave because there are

fewer portfolios to compare their performance against.

This requires a leap of faith among the buying community

and regular reviews.

Some challenger banks have indeed already dipped their

toes into the water with a handful of spot sales being

recorded but it is still early days. Likely, there are buyers

too who have bought what’s available at an inflated price

to similarly test the proposition, and their maths. The

difficulty here is it sets an expectation with the seller on

what the market price should be, which only stores up

difficulties further down the line should the portfolio be

re-tendered. It’s a difficult balancing act.

What every buyer looks for is a high level of transparency,

and to use data and insight to inform a realistic price.

Any risk that they take must be manageable.


CREDIT MANAGEMENT

Monthly and quarterly reviews regarding the performance

of new portfolios enable a clear line of sight for buyers

and sellers alike, to head off any surprises.

Certainly, we have seen specific portfolios, such as

Individual Voluntary Arrangements (IVAs), being

sold but few, if any, ‘standard’ non-performing loans.

Challenger banks may find themselves following the same

path trodden by the high street banks a decade or so ago,

using a contingent DCA strategy first before pursuing a

selling strategy later. What will be crucial for the latter is

ensuring buyers have sufficient data to make an informed

decision on pricing.

Indeed, data throughout the debt sale and purchase sector

is the key to unlocking an even brighter future. Incumbent

buyers in forward flow agreements will always have an

advantage over a competitor by dint of the exclusive

data they hold. Others can try and apply methodologies

and models, but the outcomes can be very different, for

example, between debts that are comparatively ‘fresh’ and

those that have been charged off and sold.

An incumbent’s strength can also be their weakness,

however, because it makes it difficult for the seller to

know if they are getting the best, all-round deal. Buyers

without the challenge faced by those with cost of funding

pressures may also be able to buy from the seller at a

higher price and still satisfy their respective need to make

a competitive return.

All that said, prices in recent years appear to have

stabilised. Sellers are very aware of the pressure buyers

face and are more inclined to work with buyers in

achieving an agreement that accommodates everyone.

Whether buying in partnership or stand-alone, it’s still

an exciting place to be.

Some

challenger

banks have

indeed already

dipped their

toes into the

water with a

handful of spot

sales being

recorded but

it is still early

days.

Author: Sam Joshi – UK Sales Director, Hoist Finance.


EXPORTS

PROTECTING

YOUR POSITION

DOWN UNDER

As UK exporters look to new regions for growth,

understanding the PPSA could be the key to turning

opportunity into secure, sustainable trade.

BY IAIN SHEPHARD


CREDIT MANAGEMENT

AS more international businesses

and lenders increasingly extend

credit to New Zealand-based

companies (whether through trade

finance, leasing arrangements, or

supply contracts) understanding

how to protect those interests

under New Zealand law is critical. The Personal Property

Securities Act 1999 (PPSA) offers a powerful but often

underutilised tool for securing repayment and avoiding

losses in the event of insolvency. Despite being law in New

Zealand for over two decades, in our role as insolvency

practitioners we consistently see lenders coming unstuck

with the application (or even existence) of the PPSA in

insolvency situations.

A brief history of the PPSA

The PPSA came into force in New Zealand in 2002 and

overhauled the law relating security interests in “personal

property”. One of the most fundamental changes has been

that the former key concepts of “ownership” and “title”

have largely been replaced with that of “priority” and that the

definition of “security interest” focuses upon the substance

of a transaction rather than its strict legal form. The law was

closely modelled on similar Canadian legislation and has

subsequently been implemented in Australia.

UK Credit Providers?

Central to the PPSA is the Personal Property Securities

Register (PPSR): the online platform where security

interests are recorded in the form of a “financing statement”.

The PPSR serves as a public notice board that a party is

claiming a security interest in certain assets. This register

is online and, being accessible 24/7, it provides real time

information about any security registered against an entity.

Registration on the PPSR is inexpensive at NZD $16.10

(approx. £7 at the time of writing) and can be completed

quickly, but it must be done correctly and in a timely

manner to be effective.

For lenders and businesses extending credit, failure to

register correctly can result in:

• Loss of goods or assets if the New Zealand customer

becomes insolvent.

• Loss of “priority” to other creditors who have registered

their interests.

• Inability to enforce repayment or reclaim property, even

if “ownership” is retained.

As insolvency practitioners we are seeing a significant

increase in foreign credit provided to New Zealand-based

businesses. We are also seeing that the first time many

of these lenders are exposed to the PPSA is in course of

a formal insolvency appointment where prior knowledge

would likely have resulted in a different outcome.

Credit managers need to know?

To protect your interests when extending credit to New

Zealand-based entities:

• Ensure contracts include PPSA-compliant clauses. Any

agreements should explicitly grant a security interest and

authorise registration on the PPSR.

• Register your security interest early. Ideally, the

registration of a financing statement on the PPSR

should occur before credit is extended. Late registration

(especially where inventory is being provided) can result

in loss of priority.

• Use a monitored and dedicated PPSR email address.

Notices relating to financing statements registered on

the PPSR are sent via email. Ensure this inbox is actively

monitored by multiple staff. A secured creditor who fails

to respond to a notice made by a liquidator within the

requisite timeframe runs the risk of having their security

surrendered by default and becoming an unsecured

creditor.

• If credit is being provided over an extended period

of time, ensure that financing statements are renewed

on the PPSR prior to expiry. Financing statements are

valid for five years after which time (if they have not

been renewed) they expire and become invalid.

Prior to the expiry of a financing statement reminders are

sent.

• Ensure that the collateral type and description on the

financing statements is sufficiently broad to cover future

supplies made to the debtor.

Avoid common pitfalls

Common pitfalls we see with businesses providing credit

include:

Financing statements

• Incorrect debtor names

• Incorrect or incomplete descriptions of collateral

Inaccurate or incomplete descriptions of collateral can

render financing statements as “seriously misleading”

and ineffective.

Security agreements

• Unsigned or poorly drafted contracts

In order for security agreements to be binding on third

parties, they must be signed or otherwise assented to in

writing by the debtor company.

• Assuming retention of title clauses are sufficient

While a ROT clause may offer some protection, without

registration on the PPSR it will likely lose priority to

other secured creditors.

With insolvency numbers on the rise in New Zealand

(especially in industries with longer payment terms and in

sectors with an increase in foreign credit) having proper

protection in place is essential and can help safeguard assets

and improve recovery outcomes.

Author: Iain Shephard is a Partner at BDO Wellington, New

Zealand and a member of the New Zealand Credit and Finance

Institute.

Disclaimer: this article is intended to provide general information

about the Personal Property Securities Act 1999. It is not meant

to be construed as specific legal, accounting, or insolvency advice.


COUNTRY FOCUS

on Italy

Forza Italia


CREDIT MANAGEMENT

WHEN introducing

these country profiles

usual practice has been

to begin with what a

given country is known

for. However, when

addressing Italy, apart

from highlighting some of the obvious – pasta, pizza,

grappa, Roman civilisation, high fashion, the Vatican and

renaissance art – it’s interesting to consider lesser-known

facts.

In particular, that a number of police drive Lamborghinis,

some of it was part of ancient Greece, it has the most – over

61 – UNESCO World Heritage sites, and it’s home to the

world’s smallest country – the Vatican – at half a square

kilometre in size.

History

Societies in Italy first emerged around 1200 BC. Around

800 BC, Greeks settled in the south and Etruscans came

to prominence in central Italy, creating a group of states –

Etruria – around 650BC. Latin and Sabine peoples south of

Etruria merged to form a city-state, Rome.

Etruscan rule of Rome ended in 510 BC, with Romans

moving on to build a vast empire which, at its greatest in

117, stretched from Portugal to Syria and Britain to North

Africa.

By the fourth century AD, Rome was in decline. In 395, the

empire was split in two, and in 476, Germanic tribes from

the north toppled the last emperor, Romulus Augustulus.

From the 12th century, Italian city-states began to rise and

grew rich on trade. However, Italy remained a multitude

of states, some of which were controlled from overseas.

Beginning in 1859, foreign rulers were forced out, and in

1861, after action led by Giuseppe Garibaldi, the Kingdom

of Italy was proclaimed.

In 1914, Italy took the side of the UK and the US in World

War I but was left financially broken at war's end. The

Fascists, under Mussolini, rose to power promising to

restore the Roman Empire, and entered World War II on

the side of Germany and Japan. Rid of Mussolini, Italy

switched sides in September 1943.

Italy became a republic in 1946, with the first from 1948

to 1994, and a second from 1994 following a move away

from proportional representation which created numerous

short-lived governments to a majoritarian voting system.

Geography

Italy is the tenth largest country in Europe and the 71st

largest in the world with a landmass of 295,717 km2. It sits

behind Oman’s 309,500 km2 and above the Philippines


COUNTRY FOCUS

Central Italy sees similarly hot weather during

summer like the rest of the country and is moderately

cold in the winter. But in Southern Italy there are hot

dry summers and mild rainy winters.

Demographics

Italy is moderately urbanised but becoming more so.

Trading Economics details a rate of 72.29% urbanisation

in 2024. However, that figure was 69.27% in 2014. It’s

one of the reasons why certain municipalities with

hollowed out communities are offering properties

from just €1 to those prepared to renovate and occupy

them.

According to 2025 estimates from the Italian National

Institute of Statistics (Istat), the largest cities in Italy

were Rome (2.74m people), Milan (1.36m), Naples

(908,082), Turin (856,745) and Palermo (625,956).

The table featured another 132 settlements with

populations down to 46,701; some 93 had populations

below 100,000.

Data from Istat, published in July 2025, detailed

that the population, now about 59m, is expected to

decline to 54.7m by 2050. It notes that the birth rate

is falling and the population is getting greyer: “With

1.18 children per woman, the previous minimum of 1.19

has been exceeded since 1995, a year in which 526,000

children were born compared to 370,000 in 2024… life

expectancy at birth for the overall resident population

is 83.4 years, almost five months more than in 2023.”

with 298,170 km2. Again, for comparison, the UK is

placed 78th with 242,741 km2 while Russia is first with

16.37m km2, followed by Canada with 9.09m km2.

As the CIA World Factbook comments, Italy is “almost

twice the size of Georgia; slightly larger than Arizona.”

It’s located – as if it needs stating – in the south and

west of Europe on a peninsula that juts out into the

Mediterranean Sea. It features the Alps on its northern

border and shares land borders with France to the west,

Switzerland and Austria to the north, and Slovenia to

the east. Italy also has two landlocked states within its

borders – the Vatican and San Marino.

Land boundaries measure 1,836 km while the coastline

measures 7,600 km. As for climate, insurer Battleface

details that “broadly speaking, the Italian climate can

be described as Mediterranean, with hot summers and

mild winters.”

The north features colder winters than much of the

rest of the country, with plenty of snow fall. In the

summer, there are many sunny days and warm weather.

That site also features a population pyramid chart that

can only be described at a very slender, tall, ship, that

if ever fabricated would topple as soon as floated, as

the biggest bulge is between 50 and 64 years of age. It’s

the narrowest pyramid seen on these pages – ever. Just

11.6% of the population are aged 14 or under, 26.6% are

aged 15-39, 36.8% are aged 40 to 65, and 25% are aged

65 or older. The data is backed by a report on Reuters.

Without delving into politics, to arrest its declining

population Italy either needs couples to ‘couple’ or

allow in younger immigrants.

An alternative view was given by an Italian friend

of mine: “[Italy] needs to find a way of keeping

its own people from migrating in search of better

opportunities. Italy is a Western European nation

operating like a third world country in a political set

up that swallows any taxes without any benefit to its

population and doesn’t do a great deal to discourage

black market operatives… we won’t mention the

protection that some small businesses still pay but is

not fashionable to talk about so is swept under the

carpet, unless it goes against the states interests… still,

it has great food.”


CREDIT MANAGEMENT

The Association for Manufacturing Technology, in a

2024 report, said the sector “in 2022 alone, churned out

796,394 vehicles… contributed €100.6bn in 2021, with

vehicle and component exports reaching €38bn.” It

added that it employed 272,000 individuals across 5,439

firms. The main production regions were Piemonte,

Emilia-Romagna, Lombardy, Abruzzo and Trentino.

Chemicals

There are some 2,700 companies in this sector –

excluding pharmaceuticals - employing some 320,000,

both directly and indirectly. The sector produces goods

to the value of €67bn of which €40bn is exported.

Cefic says that around 112,200 highly qualified

employees work in the sector and that the region

of Lombardy has the highest concentration of

chemical companies in the country and is one of the

main chemical manufacturing regions in Europe.

Federchimica detailed that – in 2017 – Italian firms

were active in consumer chemicals (perfumes,

cosmetic and soaps), specialities (crop protection,

varnishes and adhesives, inks, pharmaceutical actives)

and basic chemicals (petrochemicals, inorganics,

plastics and rubber, man-made fibres, fertilisers, dyes

and pigments, and industrial gases).

Economy

The Italian economy has grown well since 1980 but it’s

not all been plain sailing. Using World Bank Data GDP

was $478.36bn in 1980, $1.15tn in 2000, $1.91tn in 2020

and $2.3tn in 2024. Those numbers indicate an upward

trajectory, but in looking more closely at the data we

can see plenty of decently sized dips which hide the

fact that in 2008 GDP stood at $2.42tn.

Italy, between 1960 and 1980, saw periods of very high

inflation – with rates up to 7.5% (1963), 19.2% (1974)

and 21.1% (1980). Thereafter inflation fell to around 4

and 5% by 1996, and then between 1 and 2.5% until the

COVID pandemic which saw a spike of 8.2% in 2022.

Industrial sectors

Automotive

Invest in Italy, citing Eurostat (2022) and ACEA (2022),

states that the Italian automotive sector is the second

largest in Europe by companies (2,296) if producers of

automotive components are included, and third by

automobile assembly, battery, and engine plants (23).

The sector draws on a young and highly qualified

workforce coming from the Italian university system

that offers specialised courses.

Fashion

Fashion is another key sector according to Invest in

Italy. A 2024 report from CDP says that fashion earns

€75bn and employs 1.2m people. It added that twothirds

of luxury firms use Italy to manufacture.

Notably, CDP says that there are more than 53,000

companies in the sector, of which 79% are SMEs that

generate one-fifth of the total turnover. Some 76% of

Italian fashion companies with a turnover over €20m

are family-owned, and 30% of these are managed by

entrepreneurs over 70.

Although Milan, Rome and Florence are regarded as

the main cities in Italian fashion, other cities, such as

Venice, Vicenza, Prato, Turin, Naples and Bologna, are

also important centres.

Invest in Italy says Italy is the biggest exporter of

fashion in Europe and second globally.

Food

Italianfood.net states that, in 2023, food is “now Italy’s

number one manufacturing industry, according to

the latest data from the first Federalimentare-Censis

report. With €179bn in annual turnover, 6,850

companies, 464,000 employees, and more than €50bn

in export sales by value.”


COUNTRY FOCUS

360 Italy Market summarised the main products as

wine (annual production of around 50m hectolitres),

olive oil (3.5m tons), cheese (10m tons), cold cuts (2.5m

tons), and pasta (4.2m tons). DNV detailed more,

saying that 740,000 farm companies, 70,000 food

firms, and 4m workers are involved in food.

Furniture

On furniture Statista thinks that in 2023, the Italian

market generated a revenue of €17.3bn. Mordor

Intelligence reckons that Italy is Europe’s secondlargest

furniture producer with key industrial

districts in Lombardy, Veneto, and Friuli-Venezia

Giulia. Wood accounted for 61.85% of material use in

2024 since consumers prefer natural finishes.

SACE, in a 2024 report, showed that the Italian

furniture industry is characterised by small enterprises

(87.3%) of which there are a total of 15,801 that

generated a turnover of €29.9bn through the efforts

of 133,405 people. The largest product categories by

firm number are bedrooms and living rooms (11,639),

upholstered furniture (2,162), office furniture (1,408)

and kitchen furniture (592).

Information technology

The Italian Trade Agency (ITA) said that in 2022

the Italian digital market was worth €77.1bn, and

with the implementation of the National Recovery

and Resilience Plan, is expected to reach €91.7bn in

2025. Invest in Italy put the figure at €81.6bn in 2024

with growth in the Cloud market (€7.4bn in 2024),

and blockchain, cybersecurity, big data, and artificial

intelligence.

ITA tells of a strong talent pool in 2021 with 109,292

graduates in key subjects for the ICT industry.

The EU commented in June 2025 that “73% of Italian

citizens consider that the digitalisation of public and

private services is making their lives easier” – a figure

that will likely improve as the EU pumps more money

into countries looking to further digitise. Statista

thinks that the number of employees in the ICT

services industry in Italy amounted to 529,250 in 2022.

Life sciences

Invest in Italy commented in April 2024, that Italian life

sciences was a sector of note and that pharmaceuticals

had revenues of €34bn, biotechnology €9bn with over

€1.8bn in R&D, and medical technology €16.5bn with

over 4,000 companies employing 76,000 people.

It helps that Italy has over 60,000 life sciences

graduates a year from more than 50 internationally

recognised universities.

Machinery

Again, SACE, in 2024, reckoned this to be worth

€113.9bn in revenue generated by 366,330 people

working in some 16,521 companies. There were 7,715

firms involved in general purpose machinery, 5,501

in special purpose machinery, 1,923 in machine tools

and 1,383 in agricultural machinery. 62.4% were micro

sized firms and a further 26.1% were small in size.

Much of the production is in the northern regions

of Italy with most of the exports heading to western

Europe.

Tourism

Given Italy’s history and landscapes, it should be no

surprise that tourism is huge. A 2024 World Travel

& Tourism Council report stated that the “sector

contributed €215bn, representing 10.5% of Italy’s total

economic output” in 2023. There were around 2.97m

employed in tourism with another 600,000 expected

to join their ranks by 2034 when revenue could rise

to €270bn.

Other sectors

It’s also worth noting that electronics (€581m, 222

firms and 2,390 workers – IBIS World) and aerospace

(€13.8bn, 197 firms and 45,000 people – SACE) are

growing in importance to the nation.

Summary

Italy may have a deserved reputation for the ‘la dolce

vita’, but the reality is that it’s a market worthy of any

exporter’s attention. With a multitude of high-rolling

and blossoming sectors, the country has much to offer.

Author: Adam Bernstein is a freelance finance writer for

CM magazine.


ARE YOU REALLY COVERED BY

YOUR CREDIT INSURANCE?

OUR NEW GAP ANALYSIS TOOL

CAN HELP YOU FIND OUT.

Our Gap Analysis report is receiving

excellent feedback f rom other

policyholders and is designed to provide a

comprehensive policy cover health check

for your business.

That’s why we want to share it with you.

WHAT THE REPORT OFFERS

Many businesses think they’re fully protected by their credit

insurance policy - until a claim fails. Our Gap Analysis gives you

peace of mind by ensuring your cover really matches your exposure.

THE BENEFITS YOU WILL GAIN

Save Time - No more wading through ledgers or insurance

schedules. We do the heavy lifting so you can focus on running

your business.

Avoid Expensive Mistakes – Identify gaps where you’re

unknowingly uninsured, so you don’t get caught short when you

need cover most.

Save Money – Spot unused or unnecessary cover and stop paying

for protection you don’t need.

Be Conf ident You’re Fully Covered – Make sure every customer

and credit limit are correctly insured, so you can trade with

conf idence.

www.comparecreditinsurance.co.uk

HR MATTERS

DISABILITY

UP FRONT

Tribunal ruling confirms that disability status can be assessed

before alleged discriminatory acts are explored.

BY GARETH EDWARDS

THE Employment Appeal

Tribunal has confirmed that a

tribunal may decide whether

a claimant was disabled

during the relevant period as a

preliminary issue, without first

identifying every alleged act of

discrimination.

In JP v Spelthorne Borough Council, the claimant,

who was unrepresented, brought claims including

disability discrimination. At a preliminary hearing

the tribunal noted that her paperwork lacked clarity.

The judge directed that a further preliminary hearing

should take place to decide whether the claimant

was disabled within the meaning of the Equality Act

2010, to clarify the specific acts of discrimination

alleged, and to make case management orders to

prepare for a final hearing.

When the case later came before the tribunal, the

judge dealt with the disability question first. The

relevant period was identified as running from

December 2019, when the claimant clarified that the

earliest alleged act of discrimination had taken place,

through to January 2021, her dismissal. The tribunal

accepted that the claimant's impairments had adverse

effects on her day-to-day activities but concluded

these were not likely to last for at least 12 months,

nor likely to recur. The claimant was therefore not

disabled for the purposes of the Equality Act.

On appeal, the claimant argued that this was wrong.

She said the tribunal should first have clarified which

acts of discrimination she was relying on before

deciding the disability issue. She also said that the

period under consideration should have extended

beyond her dismissal to cover her internal appeal

process, which concluded in May 2021.

The EAT dismissed the appeal. It accepted that in

some types of claim it is important to define the acts

complained of before assessing prospects of success

but emphasised that this is not a fixed rule. Where

the issue is whether someone was disabled, the key

question is whether their condition met the legal test

at the time of the alleged discrimination.

On the second ground, the EAT held that the relevant

period for assessing disability normally ends at the

point of dismissal, unless there are clear allegations

of discriminatory acts after that date. This was not

alleged.

The EAT stressed that tribunals should not be

expected to pore over claim forms looking for

possible arguments.

It accepted that in some types of claim it is

important to define the acts complained of

before assessing prospects of success but

emphasised that this is not a fixed rule.


CREDIT MANAGEMENT

SHARES

HONOURED

The High Court upholds a former employee’s

entitlement to share options.

THE High Court found that a

former employee could rely on an

assurance that his share options

would remain exercisable after

he left, even though the company

had not formally exercised the

discretion in its plan rules.

In Dixon v GlobalData plc, the claimant had been granted

share options. When his role was made redundant in

2014, he negotiated a settlement agreement. During

those discussions, the group's then chief executive

assured him that he could keep his remaining share

options. This was confirmed in a letter, which stated

that the options would "vest in line with current

conditions," and was later reflected in a clause of the

settlement agreement.

The agreement also required the claimant to stay

on until the end of the year, rather than leaving

in September, and to accept restrictive covenants

preventing him from working for competitors for

four months after leaving. The claimant gave evidence

that he relied on the assurances about the options

in agreeing to those terms and in not seeking other

employment immediately.

Several years later, once the company had met the

financial performance targets, the claimant tried

to exercise his options. The company refused,

arguing that they had lapsed automatically when his

employment ended, as there had been no formal board

or remuneration committee decision under the plan

rules to extend them.

The court accepted that no formal decision had been

made under the plan rules to keep the options alive,

so technically they would have lapsed. On that basis, a

contractual claim under the plan itself failed.

However, it went on to find that the employee was

entitled to a remedy under the equitable doctrine

of proprietary estoppel. This arises where one party

makes a clear assurance about a property right, the

other relies on it to their detriment, and it would be

unconscionable to go back on the assurance.

The court held that the company gave an assurance

that the employee would keep his options beyond

termination; the employee reasonably relied on that

assurance by extending his employment and agreeing to

restrictive covenants; he suffered detriment by giving

up alternative job opportunities and freedom to work

for competitors; and it would be unconscionable for

the company to now deny what he had been promised.

Therefore, the court decided the employee was entitled

to relief under proprietary estoppel, with the remedy

to be determined at a later hearing.

Author: Gareth Edwards is a partner

in the employment team at VWV.


Let your

cash flow

Credit management solutions

that keep your finances moving.

From outsourced credit control and address tracing to pre-legal

and legal debt recovery, we’re here to support every stage of

your collections process - quickly, professionally, and ethically.

+44 (0)800 804 4765

stainternational.com

STA International

MEMBERSHIP AND ACHIEVEMENTS

Do you know someone

who would benefit from

CICM membership?

Or have you considered applying to upgrade your membership? See our website

www.cicm.com/membership-types for more information, or call us on 01780 722903

NEW AND UPGRADED MEMBERS

FCICM

Laura Martin FCICM

Joshua Mayhew FCICM

Fabrizio Pianta FCICM

Tony O’Driscoll FCICM

Trevor Monterio FCICM

Paula Partington FCICM

Laura Brown FCICM

Arvind Kumar FCICM

MCICM

Rachael Barker-Vaizey MCICM

Amy Stenson MCICM

Kirsty Dear MCICM

Sukhi Sidhu MCICM

Mitchell Shams MCICM

ACICM

Sharon Patterson

AWARDING BODY

Congratulations to the following, who successfully achieved Diplomas

Level 3 Diploma in Credit & Collections (ACICM(Dip))

Shirley Ganyo

Debbie Cook

Amritpal Sahota

Kevin Sherwood

Tibor Forgo

Alexander Keith

Linsey Crabbe

Jodie Allin

Kirsty Bales-Hart

Joanne Barlow

Kieron Chastney

Emily Cole

Barry Cribb

Nicola Docherty

Jenny Passmore

Scott Price

Caroline Rogers

Megan Tappenden

Amy Bright

Samantha Caylor

Jason Evenett

Jennifer Parker

Alicia Wilches Ayala

Level 3 Diploma in Money & Debt Advice

Connie Austin

Thanujan Thangarajah

Lewis Brierley

Jessica Stark

Julie-Ann Unwin

Jessica Day

Mohammed -

Mushfique Al Majid

Audrone Simkute


CAREERS

SHIFTING

PRIORITIES

Finance professionals are reshaping careers around pay,

progression and flexibility — and employers must adapt.

BY NATASCHA WHITEHEAD, FCICM

AFTER another year of

economic headwinds and

shifting workplace norms,

credit and finance professionals

are no longer just reacting,

they’re recalibrating. The focus

has moved beyond surviving

uncertainty to actively shaping careers around what

matters most: fair compensation, clear progression, and

the freedom to work flexibly. The 2026 Hays UK Salary

& Recruiting Trends Guide reveals how these priorities

are influencing decisions across the sector, and what

employers must do to meet rising expectations.

More pay, but still not enough

It’s encouraging to see that most employers are

taking steps to improve pay. In 90% of employers in

accountancy and finance reported increasing salaries

over the past year, with the majority increasing pay by

between 2.5% and 5%. While 63% of credit professionals

say they saw their earnings rise. But while these figures

suggest progress, they don’t necessarily reflect how

professionals feel about their compensation.

Many believe their pay doesn’t match the value they

bring. In credit, 65% of professionals say they’re

dissatisfied with their salary, and nearly three-quarters

(74%) feel it doesn’t reflect the level of responsibility they

carry. This isn’t just about the amount on the payslip,

it’s about recognition. Delving into the dissatisfaction,

82% of credit professionals say their pay doesn’t reflect

their responsibilities, whilst 71% say it doesn’t reflect

their individual performance.

Professionals want to feel that their efforts are seen

and rewarded, not just financially, but in how their

contributions are valued.

This disconnect between pay and perceived worth is

fuelling frustration, and action. Many are reconsidering

their roles, and some are actively seeking new

opportunities where their skills and impact are better

recognised. Employers who fail to address this gap risk

losing talent not because they’re paying too little, but

because they’re not listening closely enough.

What’s even more telling than dissatisfaction is how

professionals are responding to it. Half of those who

asked for a pay rise last year didn’t get one, and 42%

didn’t ask at all, likely because they didn’t believe it

would lead to change.

High intentions, low visibility

Some 70% of professionals are intending to look for a

new job in the next year. But this isn’t necessarily about

leaving the industry, it’s about finding somewhere they

can grow.

For credit management professionals, 59% say they

don’t feel there is scope for career progression where

they are currently working. Promotion structures are

often vague: just 6% say promotions are based on clear

performance criteria, and over a third don’t know how

promotions are handled at all.

This lack of clarity is more than a frustration; it’s a reason

to leave. Among those dissatisfied with their current

Professionals aren’t just looking for a job; they

want to know how they can progress and build

their future. And if they can’t see it clearly,

they’ll look elsewhere.


CREDIT MANAGEMENT

role, 50% cite lack of career progression, and 44% say the dissatisfaction

is due to a lack of learning and development opportunities. Others

point to poor work-life balance and unmanageable workloads,

suggesting that career stagnation often comes together with burnout.

Employers are beginning to shift their approach. In finance, 78% say

they value attitude and willingness to learn over existing skills, and

77% are open to hiring candidates who don’t meet all requirements.

This is a positive step, but it must be matched by investment in

development. Hiring for potential is only effective if that potential

is nurtured.

Professionals aren’t just looking for a job; they want to know how

they can progress and build their future. And if they can’t see it

clearly, they’ll look elsewhere.

Flexible working

Flexible working has moved from perk to expectation. In credit,

67% of professionals say they wouldn’t accept a job without hybrid

working, and 66% are satisfied with their current work-life balance.

Across finance, 62% say they’d accept a lower salary for better balance,

highlighting just how central flexibility has become.

Hybrid working is now the preferred model for 66% of employers,

with most requiring two to three days in the office. But flexibility

isn’t just about where people work, it’s about how they’re treated. In

credit, 44% of professionals said they are sometimes, often or always

expected to be available outside of contracted hours – blurring the

lines between work-life balance.

As such, professionals are thinking about what they’d trade for a

better experience. Nearly half (47%) of credit professionals would

accept a lower-paid role for improved work-life balance, and 21% for

a greater sense of purpose.

The most valued benefits among credit professionals paint a clear

picture of what today’s workforce expects from their employers.

Additional annual leave days topped the list of most desired benefits,

followed by additional days off for wellbeing, flexible working and

an employee pension scheme.

These preferences signal a shift in mindset. Professionals are no longer

satisfied with transactional relationships at work. Flexibility, time

off, and meaningful benefits are now seen as essential, not optional.

People want to work hard, but they also want to be respected, trusted,

and given space to thrive. Flexibility isn’t a perk anymore, it’s part of

the package, and organisations that fail to offer it risk falling behind.

The most valued

benefits among credit

professionals paint a

clear picture of what

today’s workforce

expects from their

employers. Additional

annual leave days

topped the list of most

desired benefits,

followed by additional

days off for wellbeing,

flexible working and

an employee pension

scheme.

Looking ahead

2026 isn’t just another year, it’s a turning point. Credit and finance

professionals are no longer waiting for change; they’re actively

seeking it. Fair pay, clear progression, and flexible working aren’t

wish list items – they’re expectations. And if organisations can’t meet

them, professionals won’t hesitate to move on

For employers, the message is simple: evolve or risk being left behind.

The sector is full of potential but unlocking it depends on putting

people first. Those who listen, invest, and adapt will not only attract

top talent, but they’ll also keep it.

Author: Natascha Whitehead, FCICM is Senior Business Director,

Credit Management at Hays.


ENFORCEMENT

ENDING

POSSESSION

DELAYS

Why ‘Transferring Up’ matters for landlords and tenants.

BY MICHAEL JACKSON

HCEOA’s latest Possessions –

Transferring Up report, produced

in partnership with the NRLA,

Propertymark, and Landlord

Action, exposes significant delays

in the County Court system and

urges the UK Government to

take swift action to ensure fair, timely, and effective

enforcement of possession orders across England and

Wales.

Damaging delays

The new research highlights serious and growing delays

within the County Court Bailiff system, particularly

in London, resulting in significant financial losses for

landlords, social housing providers, and local authorities.

• The average rent loss per property due to delays in

eviction enforcement is £12,708 nationally, rising to

£19,223 in London, where delays are at their worst.

• Average County Court Bailiff delays in London stand

at eight months, with many cases taking over a year

after a possession order has been granted.

• The study also reveals that some County Courts are

now quoting a policy stating that bailiffs can no longer

use reasonable force to evict tenants, even where

necessary, causing further disruption and uncertainty.

The knock-on effect

These enforcement delays are not just affecting

landlords; they are impacting housing availability and

local authority resources across the country.


CREDIT MANAGEMENT

Landlords in London are therefore being

encouraged to apply for transfer-up at the

same time as their possession order, and

to provide detailed supporting evidence

to strengthen their application.

• Eviction delays are limiting the availability of both

private and social housing.

•Local authorities and housing providers are diverting

resources to chase delayed eviction dates.

• Responsible landlords are facing escalating debts, with

little chance of recovery, pushing many to consider

leaving the sector altogether.

• Tenants, too, are suffering as delays add to rent arrears

and increasing indebtedness and prolonging financial

distress.

‘Transferring up’

The report identifies “transferring up” possession cases

from the County Court to the High Court as a key part

of the solution.

Landlords are being urged to apply for leave to transfer

the possession to the High Court for enforcement at the

same time as they request an Order of Possession, and

to ensure they give substantial evidence detailing the

grounds for transferring the case in a witness statement

supporting the application.

High Court Enforcement Officers (HCEOs) can

typically enforce possession within a month of receiving

a Writ, saving landlords in London around £12,000

per property on average. However, bureaucracy and a

reluctance among District Judges to allow transfers are

preventing this from becoming standard practice. Only

30% of requests to transfer up in London are currently

being approved.

A blueprint for improvement

The HCEOA and its partners have set out a two-part plan

for government that could deliver faster enforcement

and restore confidence in the rented sector, at no cost to

the public purse:

1. Engage with District Judges to ensure that transferup

requests are always approved where County Court

Bailiff delays exceed three months or where reasonable

force may be required.

2. Simplify the transfer-up process to make it easier

for landlords to apply, simpler for County Courts to

manage, and better aligned with upcoming digital

reforms to the court system.

Protections for tenants

Even under the proposed reforms, tenant protections

would remain strong. Transferring up can only take

place after a judge has ruled that an eviction is lawful,

and HCEOs operate under the same legal framework

and national standards as County Court Bailiffs.

Capital crisis?

The research identifies London as the epicentre of the

problem, with the following findings:

• Eight months – average waiting time for a County

Court Bailiff eviction.

• £19,223 – average reported rent arrears at eviction.

• Two out of 10 – average stisfaction rating for the

County Court process.

Landlords in London are therefore being encouraged to

apply for transfer-up at the same time as their possession

order, and to provide detailed supporting evidence to

strengthen their application.

Call to action

The message from across the sector is clear: the UK

Government must act now to encourage more flexible

enforcement of court orders, ensure consistent

application of the transfer-up process, and restore

confidence in the justice system that underpins the

private rented sector.

For more information, or to view the full Possessions –

Transferring Up report, visit: https://www.hceoa.org.uk/

campaigns/hceoa-research-shows-scale-and-impact-ofcounty-court-delays

Author: Michael Jackson is Vice Chair of the High Court

Enforcement Officers Association.


BRANCH NEWS

BRAINS, BALANCE

SHEETS AND

BOARDROOMS

Strengthening community, insight and leadership across

the Northern credit profession.

CICM BRANCHES

MORE than 80 credit a

nd collections professionals

gathered at Odsal Stadium,

Bradford, for the inaugural

Northern Credit Day – a new

collaborative event delivered

by the CICM Yorkshire

Ridings, North West, and North Wales & Merseyside

Branch Committees. The event brought together

practitioners, leaders, and educators to reflect on the core

pillars of modern credit management: risk, collections,

dispute resolution, and the role of education in shaping

professional standards.

The day opened with a joint welcome from the three branch

chairs: Ian Torrington MCICM, Chair of the Yorkshire

Ridings Branch; Paul Quinti FCICM, Chair of the North

West Branch; and Sarah Flaherty MCICM, Chair of the

North Wales & Merseyside Branch. Each emphasised the

value of regional collaboration, professional solidarity, and

shared learning in strengthening the identity and influence

of the credit management community across the North.

Their introduction set the tone for a day focused on

practical insight, connection, and collective development.

The event was hosted by Luke Sculthorp FCICM, Vice

Chair of the Yorkshire Ridings Branch, and proudly

sponsored by BW Legal, whose support helped establish

the event as a new focal point for regional engagement and

professional growth.

“This day reflected everything the CICM stands for:

collaboration, education, and raising standards across our

profession.” – Brian Gibson FCICM, Head of Business

Development, BW Legal.

Education and insight

The keynote address was delivered by Professor Nick

Wilson, University of Leeds, Director of the Credit

Management Research Centre (CMRC). Drawing on four

decades of research, Professor Wilson examined the longterm

economic and behavioural factors shaping payment

performance and insolvency trends across UK sectors.

A truly compelling keynote that blended historical

context with a forward-looking view on the credit

profession’s evolving relationship with technology. He

reminded delegates that the core challenges facing credit

management today, late payment, SME access to finance,

and the value credit teams bring to business performance

have persisted for decades, despite repeated policy

interventions.

“Credit management sits at the intersection of data,

behaviour, and the wider economy. Across our research,

one theme is consistent: education and data transparency

are the foundations of resilient business performance.

When credit professionals understand economic signals

behind payment behaviour and insolvency risk, they shift

from being risk gatekeepers to strategic contributors to

business growth.” – Professor Nick Wilson University

of Leeds, Director of the Credit Management Research

Centre (CMRC)

The keynote reaffirmed that credit management is

increasingly a strategic discipline, not just an operational

function.

Career journeys

The Career Journeys Panel, featuring Arvind Kumar

FCICM (Grad), Rebecca Sutton FCICM (Grad), and

Peter Gent FCICM (Grad), showcased lived experiences

of professional development in practice. The panel

highlighted how structured study, mentorship, and

community engagement can broaden professional horizons

and build long-term capability.

Each contributor reflected on the confidence and strategic

insight gained through CICM qualifications, reinforcing

the message that career progression in credit is both

purposeful and attainable.

Arvind Kumar reflected on the transformative impact of

structured learning: "The CICM qualifications gave me a


CREDIT MANAGEMENT

Risk governance

The afternoon session, presented by Steve Hamstead,

focused on how trade credit insurance can support

disciplined credit risk strategy when used effectively.

“Insurance works best when it complements a strong credit

policy, not replaces one. The most successful organisations

use it as an additional layer of protection – informed

by internal analysis, commercial awareness, and clear

communication with insurers. It is a tool, not a safety net.”

– Steve Hamstead Joint Managin Director, Attis Credit

His session provided clarity on policy interpretation,

underwriter expectations, and managing insured portfolios

in volatile conditions.

framework not just to understand credit management, but

to think strategically. It gave me the confidence to take

on more complex challenges and influence decisions at a

higher level."

Rebecca Sutton emphasised the importance of mentorship

and professional networks: “Engaging with peers and

mentors through the CICM community opened doors

I didn’t even know existed. Career progression isn’t just

about exams—it’s about relationships, guidance, and

continual learning.”

Peter Gent focused on practical knowledge and application:

“The CICM programmes equipped me with the tools

and methodologies to manage risk, analyse credit data

effectively, and make informed decisions every day. It’s the

practical knowledge that has allowed me to add real value

to my organisation from day one.”

Emotionally intelligent collections

A well-received masterclass was delivered by Chris Shaw

CertDC, CICM Learning & Development Specialist,

Trainer & Teacher who examined the importance of

emotionally intelligent communication in collections.

“Behind every overdue invoice is a circumstance, a

pressure, and a person. When we approach collections as

a conversation rather than a confrontation, we increase

the likelihood of a sustainable resolution. Professional

collectors aren’t just managing debt – they are managing

relationships.” – Chris Shaw CertDC, CICM

Delegates left with practical frameworks to support more

constructive engagement and better outcomes.

A day of collaboration

As the sessions drew to a close, Luke thanked delegates,

speakers, and contributors for helping make the first

Northern Credit Day such a resounding success.

“The energy and collaboration shown across our profession

today has been truly inspiring,” said Luke.

“From education to risk, collections to insurance, this event

showcased what can happen when credit professionals

come together to share ideas and challenge thinking.

I’m deeply proud of what we’ve achieved collectively

and grateful to – Brian Gibson and BW Legal for their

unwavering support.”

Luke also acknowledged the vital role of partners and

supporters including Credit Connect UK, Let’s Talk

Credit Ltd, Shared Services Forum UK, Hays, and Claire

McManus, all of whom helped amplify the event’s reach

and impact.

Looking ahead to 2026

The feedback from delegates was unanimous – Northern

Credit Day 2025 was an event that mattered. It captured

the spirit of community and professionalism that defines

the CICM and set a high bar for future events.

Plans are already underway for Northern Credit Day

2026, which promises to be bigger, bolder, and even more

impactful – a permanent fixture in the national credit and

collections calendar.

“This is just the beginning,” added Luke. “Northern Credit

Day has proven that by combining education, research,

and practical insight, we can shape the next generation of

credit management.”

Authors: CICM Yorkshire Ridings, North West and Merseyside

& North Wales Branches


Looking for

your next

career move?

Credit Controller

Coventry, £30k

Are you an experienced credit controller looking for a new

challenge in a dynamic and supportive environment?

This is a fantastic opportunity to be part of a collaborative

finance team, where your contribution will directly impact

the company’s success. Your duties will include chasing

outstanding payments, resolving invoice queries, monitoring

aged debt, and preparing reports. You will also support

with month-end processes and contributing to continuous

improvement. This role requires two days in the office per

week. Ref: 4740017

Contact Henry Brook on 0333 010 7517

or email henry.brook@hays.com

Credit Controller

London, £30k – £35k

A global real estate advisory firm is looking for a skilled credit

controller to join its finance team. The role involves managing

client accounts, ensuring timely collections, and maintaining

strong relationships with internal and external stakeholders.

Working as part of a fast-paced team, you will enjoy hybrid

working, ongoing training and the opportunity for career

development. Ref: 4725912

Contact Mithiran Elangco on 0203 465 0020

or email mithiran.elangco@hays.com

Credit Controller

Wythenshawe, Trafford, £30k

An established manufacturing company based in

Wythenshawe (Trafford) is seeking a dedicated credit controller

to join its small finance team. Reporting directly to the finance

controller, you will be responsible for managing a businessto-business

(B2B) ledger, proactively chasing outstanding

payments (multi-currency) via telephone and email, allocating

incoming payments, and resolving customer queries efficiently.

Proficiency in Microsoft Excel and SAP are preferred. This is a

full-time, office-based role. Ref: BL2325C

Contact Joanna Taylor-Coburn on 0161 926 8605

or email joanna.taylor-coburn@hays.com

Sales Ledger Controller

South West London, up to £35k

As a sales ledger controller, you will be employed by a

leading care organisation based in South West London.

This organisation offers rewarding career opportunities for

professionals passionate about supporting individuals with

complex needs. The role includes both the timely collection

of cash, and accounts receivable duties such as account

reconciliations, query resolution, and the allocation of cash

receipts. Ref: 4733444

Contact Mark Ordona on 07565 800574

or email mark.ordona@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 0777 078 6433.

hays.co.uk/credit-control-jobs

© Copyright Hays plc 2025. All rights are reserved.


Legal Biller (6 month FTC)

London, £38k - £45k

An exciting opportunity to join a leading law firms dynamic

revenue control team as a legal biller, managing end-to-end

billing processes in a fast-paced legal environment. You will

handle complex invoicing, liaise with stakeholders, and support

process improvements. Prior experience in legal or professional

services billing is ideal. This company offers a collaborative,

flexible workplace with opportunities for growth, innovation,

and involvement in community initiatives. Ref: 4725950

Contact Alice Charles on 0333 010 3270

or email alice.charles@hays.com

Credit Management Lead

Maidenhead, up to £45k

This is an excellent opportunity for a skilled credit or OTC

professional to join a growing business on a permanent basis, in

a newly created position. This is a varied role that will incorporate

management of one credit controller, hands-on credit control

duties, project work around process improvement and initially an

aged debt focus. Developing strong business relationships both

internally and externally, and reporting on cash flow and aged

debt will also be key elements of this role. Ref: 4739807

Discover new

opportunities today

Contact Natascha Whitehead on 0777 078 6433

or natascha.whitehead@hays.com


International Trade

Monthly round-up of the latest stories

in global trade by Andrea Kirkby.

TROUBLE FOR UK STEEL

THE UK’s hopes for a 0% tariff on steel

exports to the US have been dashed;

the BBC reported that “a proposed

deal to eliminate tariffs on UK steel

exports to the US has been put on hold

indefinitely.”

Tariffs of 25% are currently applied to

steel exports to the US which make up

6% of all UK steel exports by volume and

9% by value. However, the fact remains

that other countries face tariffs of 50%

which is why the Government reckons

that the UK is in a competitive position

relative to others.

However, there was a hope of a better

deal – of a tariff free quota – back in May,

a point backed recently by President

Trump as he headed to the UK for a

second state visit when he said: “They'd

like to see if they could get a little better

deal. So, we'll talk to them.”

The problem appears to relate to

issues around exports from the UK's

largest steel maker Tata, which has shut

down its blast furnaces. Steel is not

made from scratch in the UK pending

the completion of new electric arc

furnaces due to be completed in 2027.

The EU also took aim at British

steel. Not long after the Government

announced that the UK steel sector

had regained tariff free access to the

EU from 1 August… the EU promised

‘devastating’ tariffs.

In short, the EU is threatening

Britain’s steel industry with tariffs of up

to 50% as part of swingeing duties on

all imports coming into the bloc because

of fears of a flood of cheap steel from

China and other Asian countries that

are “crushing the Continent’s domestic

industries.”

While this is unhelpful to other

countries, almost 80% of Britain’s steel

exports currently go to the EU.

UK Steel, which represents

producers, warned that the new

tariffs could unleash “the biggest

crisis the industry has ever faced”,

with steelmakers facing a potentially

“devastating hit”.

The Government is “scrambling to

negotiate carve-outs for Britain”. In

exchange, the EU will likely use the

talks to pressure Britain for further

concessions in the wider post-Brexit

settlement.

The steel industry in the UK is in

considerable financial distress. The

Government has taken over running

Chinese-owned plants in Scunthorpe

while Liberty Steel plants in Rotherham

and Stocksbridge collapsed into

Government control last month.

DON’T NEGLECT

PRODUCT PASSPORTS

A piece in the Times recently

commented that “companies may ‘miss

out on EU trade’ if they neglect product

passports.”

European regulation mandating

barcodes showing standardised

product data comes into effect in 2027,

but few British exporters are fully ready

for the new rules.

Companies that don’t comply with

new regulations could lose £1.5m a

year in revenues according to GS1 UK,

a body which sets standards for most

of the world’s barcodes.

Digital product passports became

part of European law in 2024 and

require every company selling into

the European market from 2027 to

include a digital record for productrelated

information, such as its supply

chain, composition and environmental

impact.

A survey conducted by Censuswide,

on behalf of GS1 UK, found that only

16% of British managers and senior

executives trading with the EU believed

they were fully prepared for DPP.

BCC TAKES STOCK

OF ONS TRADE DATA

IN commenting on the latest ONS trade

data, the BCC reported that UK exports

are diverging in levels of performance.

It said that “there is a steady rise

in services, which already account for

more than half of UK exports, but trade

in goods remains in flux. Manufacturers

are still adjusting to the new realities

of global trade policy and uncertainty

around further tariffs remains high.”

The BCC noted that trade in goods

with the US has fallen since higher

tariffs were introduced and the US

removed the de minimis exemption.

Elsewhere, trade in goods with the EU

and other non-EU countries also stayed

flat during August.

UK services exports grew 0.45%

month-on-month, with 6.26% year-onyear

increases in volumes in August.

In contrast, the volume of UK goods

exports fell by 2.7% month-on-month

in August with a reduction to the EU

of 4%, and non-EU countries of 1.6%.

Month-on-month and year-on-year UK

goods export values to the US were

down 13.46%.


Free trade beating Trump’s tariffs

MONEYWEEK, in citing project-syndicate.

org, has said that six months after

President Donald Trump announced his

“ultra-high reciprocal tariffs”, in defiance of

World Trade Organisation rules, the global

trading system is “holding up well”.

No other major economy has followed

Trump’s example and world trade increased

by about $300bn in the first half of 2025.

US imports in the first half of 2025

actually exceeded their level in 2024

and America’s monthly merchandise

trade deficit stood at almost exactly the

same level in July as a year earlier. The

cumulative US trade deficit widened in the

first half of the year, the opposite of the

intended effect.

On top of that, US demand for imports

has withstood Trump’s tariffs because the

US economy continues to perform strongly

and because tariffs rates have, on average,

remained well below those announced by

Trump in April. The US collected $28bn in

tariff revenue in July, equivalent to 10% of

its imports. This is up 8% from the January

level – an “unprecedented” rise, but still

too small to have a strong immediate

impact on trade flows. MoneyWeek says

that “Trump’s bark has so far proved worse

than his bite”.

Strong UK–Turkey economic links

Exporting truffles with UKEF help

TRUFFLEHUNTER, a Queen’s Awardwinning

business from South Cerney in

the Cotswolds has expanded into new

international markets with help from UK

Export Finance’s Small Export Builder

(SEB).

The company, which produces trufflebased

products and gourmet ingredients,

has used the government-backed export

insurance to secure contracts worth

£22,500 in Malaysia and the Philippines

– markets where commercial insurance

wouldn’t offer cover for smaller value

exports.

UKEF’s SEB allows businesses to start

with a credit limit of up to £25,000 and

build up to £100,000 in 50% increments,

THE Government has published an update

following the second round of negotiations

on an Enhanced Free Trade Agreement (FTA)

with Turkey, an economy worth $1.32tn and

16th in the world.

The report stated “the UK and Turkey have

a strong economic relationship, with trade

between the two totalling around £28bn in

2024, making Turkey the UK’s 16th largest

trading partner. Trade with Turkey’s growing

market of 86m people directly supported

around 57,100 jobs across the UK in 2020.”

It noted that “negotiations were

productive, with positive progress being

made in a number of areas, including digital

trade, financial and professional business

services, as well as investment.” Adding that

the “UK continues to seek commitments that

will support opening new opportunities for

services trade, which is not covered by the

existing UK-Turkey FTA.”

The round included talks on goods market

access, environment, labour, and anticorruption

provisions, as well as discussions

on intellectual property, government

procurement, customs, and consumer

protection. With further negotiations

expected soon.

as they establish a positive trading history

with their buyers. The process gave

TruffleHunter “the confidence to pursue

opportunities in emerging markets where

commercial insurers would not offer

cover”.

UKEF says that TruffleHunter has now

delivered contracts worth £7,500 in

Malaysia and £15,000 in the Philippines,

with further orders secured for Thailand

and Ecuador and Mexico in the Americas.

The whole point of the SEB is to help

smaller businesses access markets that

commercial insurers won’t cover; it’s

designed to grow with the business,

allowing them to build confidence and

trading relationships incrementally.

CREDIT MANAGEMENT

BREXIT’S IMPACT

ON UK ECONOMY

THE Bank of England governor, Andrew

Bailey, thinks that Brexit will have a

negative impact on the UK's economic

growth "for the foreseeable future”.

In emphasising his point, he said

that a decline in the UK's potential

growth rate from 2.5% to 1.5% over

the past 15 years can be linked to

lower productivity growth, an ageing

population, trade restrictions – and

post-Brexit economic policies.

That said, he thinks that the

economy is likely to adjust and find

balance again in the longer term with

investment in innovation and new

technologies, including AI, helping to

address the decline in productivity

growth in the long run.

But on AI, Bailey warned that it could

present “a risk to financial stability

through stretched valuations in the

markets”.

US-BOUND EXPORTS

ARE BEING STOLEN

PRESIDENT Trump’s tariffs have

triggered an unlikely crime wave across

the US with a rise in cargo theft as

companies have front-loaded imports

and stockpiled.

As reports detail, drugmakers,

clothes manufacturers and electronics

companies are grappling with

“unprecedented” numbers of crime,

which have surged by a third yearon-year,

according to a supply chain

security company. David Warrick,

executive vice president of Overhaul,

said: “I’ve been in supply chains for 30

years and I’ve never seen this before.”

And it’s because the sweeping trade

tariffs on US goods imports have

increased the value of shipments and

pushed companies to stockpile goods;

large volumes of goods have become

sitting targets waiting in distribution

centres and warehouses.

Warrick says it’s not opportunistic

theft - it is organised crime – “cartels

and mobs who have infiltrated the

supply chains.”

One common tactic is fake pickups,

where a criminal will pretend to be

the driver who is scheduled to pick

up a trailer. Gang members also

impersonate depot managers.


Welcome to Luke!

Luke Sculthorp FCICM |

Commercial Director, UK & Ireland

Connect with Luke!

luke.sculthorp@mydsomanager.com

contact@mydsomanager.com

|

www.mydsomanager.com

My DSO Manager, a global leader in intelligent credit management technology and British Credit

Award Winner 2025 for Innovation in Credit, is pleased to announce the appointment of Luke

Sculthorp FCICM as Commercial Director for United Kingdom and Ireland.

As an established CICM Corporate Partner, My DSO Manager empowers credit and collections

professionals globally enabling organisations to accelerate cash flow, reduce risk, and build stronger

customer relationships through data-driven decision-making.

Luke joins directly from the Senior Leadership Team at Chartered Institute of Credit Management

(CICM), where he led strategic partnerships and championed professional development across the

credit community. A CICM Fellow and former Credit Manager at United Utilities plc, Luke brings more

than 15 years of operational credit, strategy, and stakeholder leadership experience.

In this new role, Luke will lead My DSO Manager’s commercial strategy in the UK & Ireland, two of the

world’s most advanced credit markets, driving growth, partnership, and innovation.

Bertrand Mazuir, Co-founder of My DSO Manager, commented:

Luke joins us at a pivotal time for credit management in the UK and Ireland, where

organisations are seeking smarter, more collaborative ways to accelerate cash flow and

manage risk. His CICM leadership and practitioner background combine strategic perspective

with hands-on experience, meaning he speaks the language of credit professionals.

Our platform is already trusted worldwide, under Luke’s leadership, we will deepen our presence

in the UK & Ireland with our agile, AI-driven, and scalable solution.

Purpose-built for modern credit teams, My DSO Manager centralises global credit and collections

operations in one intelligent workspace. The platform is fed by live financial and customer data from

multiple business systems, enabling real-time portfolio visibility, automated workflows, predictive risk

analysis, and collaborative collections strategies, empowering teams to act faster and smarter.

Today, My DSO Manager supports more than 25000 of users worldwide, transforming how

organisations protect revenue, strengthen customer trust, and lead with credit intelligence.

EXCLUSIVE PAYMENT TRENDS

MOSTLY MERRY

AND BRIGHT

Latest late payment data shows plenty of positives.

BY ROB HOWARD

ALTHOUGH not quite a clean

sweep across the board – with

a few causes for concern in

Ireland – the majority of regions

and sectors are moving in the

right direction and making cuts

to late payments. The average

Days Beyond Terms (DBT) across UK regions and

sectors reduced by 2.0 and 2.1 days respectively. Average

DBT across Irish counties dropped by 0.1 days, but

increased by 1.4 days across Irish sectors. Across the four

provinces of Ireland, average DBT reduced by 2.3 days.

Sector Spotlight

It was almost a full house across the UK sector standings,

with 19 of the 22 sectors making positive progress – while

the remaining three sectors only saw minimal increases

to DBT – with the Mining and Quarrying (+1.6 days)

sector taking the biggest hit. Focusing on the positives,

the Real Estate sector takes the crown for UK sector of

the month by making the biggest improvement, with a

reduction of 4.5 days taking its overall DBT to 8.0 days.

Elsewhere, the Transportation and Storage (-4.0 days),

Education (-3.8 days), Public Administration (-3.5 days),

Other Services (-3.3 days) and Agriculture, Forestry and

Fishing (-3.3 days) all climbed up the rankings following

reductions to DBT.

In Ireland, it’s more of a tale of two halves. While eight of

the 20 sectors made improvements – some of which are

particularly significant– 11 sectors saw increases to DBT

– and again, some are particularly noteworthy. Starting

with the good, the IT and Comms sector, previously the

worst performing sector, was the standout performer,

cutting its DBT by a significant 16.3 days. The Real

Estate sector is also moving up, with a reduction of 8.9

days taking its overall DBT to 11.0 days. The Business

Admin and Support sector, also one of last month’s

worst performers, sliced 6.0 days off its DBT. The not

so good bits – it was a pretty disastrous month for the

Water and Waste sector, with a steep rise of 18.2 days

taking its overall DBT to 24.9 days, meaning it is now

the worst performing Irish sector. The Agriculture,

Forestry and Fishing (+13.6 days) and Financial and

Insurance (+10.8 days) didn't fare much better and also

slide down the standings.

Regional Spotlight

As with the sector spotlight, the UK regional rankings

are full of positives, with 10 of the 11 regions making cuts

to DBT. Yorkshire was the only region to let the side

down but even then, only saw a very minimal increase

of 0.1 days. Of those on the up, the West Midlands and

Wales were the two biggest movers, reducing DBT by

3.6 and 3.5 days respectively. Meanwhile a cut of 3.0

days means that London is back on top as the best

performing UK region with an overall DBT of 6.4 days.

Across Irish counties, the picture is leaning to the side of

progress, with 14 of the 26 counties making reductions

to DBT. Of the 12 counties moving in the wrong

direction, Laois saw the biggest jump, with a significant

rise of 22.2 days taking its overall DBT to 38.1 days,

meaning it is now the worst performing Irish county

by some distance. Focusing on the positives, Kerry and

Louth made the biggest strides forward, reducing DBT

by 9.6 and 9.1 days respectively. Elsewhere, Waterford

(-7.2 days) and Monaghan (-5.6 days) also made solid

progress. Sligo is the new holder of the best performing

Irish county, with a cut of 1.7 days taking its overall

DBT to 2.7 days.

A reduction of 7.2 days means that Ulster has gone

from the worst performing Irish province to the best

performing, now with an overall DBT of 6.2 days.

Munster isn’t too far behind though, with a further

reduction of 2.9 days taking its overall tally to 6.8 days.


*

STATISTICS

Data supplied by the Creditsafe Group

Top Five Prompter Payers

Region (UK) Oct 25 Changes from Sept 25

London 6.4 -3.0

South West 6.8 -0.8

South East 7.0 -1.5

Scotland 7.1 -1.1

West Midlands 7.2 -3.6

Bottom Five Poorest Payers

Region (UK) Oct 25 Changes from Sept 25

East Anglia 10.5 -0.7

Yorkshire and Humberside 10.3 0.1

Northern Ireland 9.1 -2.9

North West 8.5 -1.9

Wales 7.7 -3.5

Top Five Prompter Payers

Sector (UK) Oct 25 Changes from Sept 25

International Bodies 0.8 -1.2

Education 4.1 -3.8

Hospitality 4.5 -2.2

Health & Social 4.6 -3

Entertainment 4.7 -1.8

Bottom Five Poorest Payers

Sector (UK) Oct 25 Changes from Sept 25

Manufacturing 10.9 0.6

Water & Waste 10.4 -1.7

Public Administration 9.9 -3.5

IT and Comms 9.8 0.2

Dormant 9.7 -3.1

Getting worse

Mining and Quarrying 1.6

Manufacturing 0.6

IT and Comms 0.2

Getting better

Real Estate -4.5

Transportation and Storage -4

Education -3.8

Public Administration -3.5

Other Service -3.3

Agriculture, Forestry and Fishing -3.3

Business from Home -3.1

Dormant -3.1

Health & Social -3

Wholesale and retail trade; repair of

motor vehicles and motorcycles -2.8

Hospitality -2.2

Professional and Scientific -2

Entertainment -1.8

Financial and Insurance -1.8

Construction -1.8

Water & Waste -1.7

NORTHERN

IRELAND

-2.9 DBT

SOUTH

WEST

-0.8 DBT

WALES

-3.5 DBT

SCOTLAND

-1.1 DBT

NORTH

WEST

-1.9 DBT

WEST

MIDLANDS

-3.6 DBT

YORKSHIRE &

HUMBERSIDE

0.1 DBT

EAST

MIDLANDS

-2.6 DBT

LONDON

-3.0 DBT

SOUTH

EAST

-1.5 DBT

EAST

ANGLIA

-0.7 DBT

Business Admin & Support -1.5

International Bodies -1.2

Energy Supply -0.2

Region

Getting Better – Getting Worse

-3.6

-3.5

-3.0

-2.9

-2.6

-1.9

-1.5

-1.1

-0.8

-0.7

-0.1

West Midlands

Wales

London

Northern Ireland

East Midlands

North West

South East

Scotland

South West

East Anglia

Yorkshire and Humberside


EXCLUSIVE PAYMENT TRENDS

MUNSTER

-2.9 DBT

CONNAUGHT

0.4 DBT

CLARE

-2.5 DBT

TIPPERARY

0.8 DBT

GALWAY

-0.8 DBT

SLIGO

-1.7 DBT

LEITRIM

-2.2 DBT

LEINSTER

0.4 DBT

LAOIS

22.2 DBT

CARLOW

-0.7 DBT

ULSTER

-7.2 DBT

CAVAN

2.5 DBT

WEXFORD

-0.5 DBT

LOUTH

-9.1 DBT

Getting worse

Water & Waste 18.2

Agriculture, Forestry and Fishing 13.6

Financial and Insurance 10.8

Entertainment 8.3

Mining and Quarrying 6.3

Hospitality 3.9

Energy Supply 3.3

Health & Social 2.3

Public Administration 1.8

Top Five Prompter Payers – Ireland

Region Oct 25 Changes from Sept 25

SLIGO 2.6 -1.7

CLARE 3.7 -2.7

LEITRIM 4.1 -2.2

TIPPERARY 4.6 0.8

CAVAN 5.8 2.5

Bottom Five Poorest Payers – Ireland


LAOIS 38.1 22.2

CARLOW 21.3 -0.7

WEXFORD 19.2 -0.5

LOUTH 16.4 -9.1

GALWAY 16.2 -0.8

Top Four Prompter Payers – Irish Provinces


ULSTER 6.2 -7.2

MUNSTER 6.8 -2.9

CONNACHT 12.2 0.4

LEINSTER 12.3 0.4

Professional and Scientific 1.4

Other Service 0.1

Getting better

IT and Comms -16.3

Real Estate -8.9

Business Admin & Support -6

Education -4

Transportation and Storage -3

Manufacturing -2.5

Construction -0.7

Wholesale and retail trade; repair of

motor vehicles and motorcycles -0.6

Top Five Prompter Payers – Ireland

Sector Oct 25 Changes from Sept 25

International Bodies 0.0 0.0

Transportation and Storage 5.4 -3

Mining and Quarrying 6.4 6.3

Other Service 6.4 0.1

Manufacturing 7.5 -2.5

Nothing changed

International Bodies 0

Bottom Five Poorest Payers – Ireland

Sector Oct 25 Changes from Sept 25

Water & Waste 24.9 18.2

Business Admin & Support 18.3 -6

Agriculture, Forestry and Fishing 17.8 13.6

Financial and Insurance 14.7 10.8

Public Administration 14.4 1.8


CreditWho?

CICM Directory of Services

COLLECTIONS

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.

COLLECTIONS

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

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

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%.

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.

CREDIT DATA AND ANALYTICS

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.

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.


FOR ADVERTISING INFORMATION OPTIONS

AND PRICING CONTACT

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



ENFORCEMENT

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.

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.

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.

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.

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.

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.

FINANCIAL PR

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

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


CreditWho?


FOR ADVERTISING INFORMATION

OPTIONS AND PRICING CONTACT

paul.heitzman@cplone.co.uk

INSOLVENCY

PAYMENT SOLUTIONS

RECRUITMENT

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.

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).

RECRUITMENT

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

PAYMENT SOLUTIONS

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.

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.

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.

CreditWho?


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.

For advertising

information options

and pricing contact

E: paul.heitzman@cplone.co.uk

T: 01727 739 196


Need help keeping up with

new ECCTA regulations?

We can help you understand the Act, covering subjects like:

Rigorous ID verification, stricter oversight of directors and

company owners, and increased requirements for transparency.

Call us to book a free demo:

+44 (0)113 223 4491

Scan to find more:

smartsearch/eccta

Find us on:

/smartsearch

@smartsearchUK

Win customers through trusted identities

Seamlessly integrate your

current API into the platform

Screening against

1,100 global watchlists

Daily monitoring services

SmartSearch delivers verification services for individuals and businesses in the UK

and international markets. These services include worldwide Sanction & PEP


screening, daily monitoring, email alerts and Automated Enhanced Due Diligence.

EXPERIENCED

DEDICATED

AGENTS

ETHICAL

CUSTOMER

SERVICE

EFFICIENT

COLLECTIONS

CASH FLOW

CURE

DEBT

PURCHASE

TRACING &

GLOBAL

COLLECTIONS

Copyright 2025 - Created by MIL Collections Ltd using AI

GET IN TOUCH:

01872 713 580

sales@milcollections.co.uk

Revolutionary Utility, Commercial

& Consumer Debt Services

Credit Management December 2025

Transform your PDFs into Flipbooks and boost your revenue!

Delete template?

Save as template ?