Collections & Recoveries

News and Insights

UK interest rate rise: the impact on collections

Today the Bank of England announced that the UK interest rate will rise to 0.75%, the highest rate since March 2009. Will consumers struggle? For the vast majority of consumers this won’t be particularly worrisome, but it does mean that variable rate mortgage repayments will increase and possibly some credit […]

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Arum partner with leading expert on AI and RPA

3 July 2018 Arum have launched a partnership with Andrew Burgess, an expert and thought leader in the areas of artificial intelligence (AI) and robotic process automation (RPA). Working together, Arum and Andrew will continue to apply these technologies to enhance and improve processes and systems within collections and recoveries, […]

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Debt sale – worth the risk?

It may be time for those organisations who have not tested the debt sale market or did so a while ago and decided it wasn’t for them, to reconsider. The market has changed considerably as a result of increased competition, regulation and the demand for compliance. Seller and purchaser priorities […]

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Are you considering relocating your operations?

With Brexit looming, you may be forced to address the impact on the location of many of your operations. This could mean taking the decision to relocate or consolidate call centres or customer advice services, along with all the associated operational controls, people and processes. You may also be looking […]

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Arum and Thames Water are finalists at the Credit Awards 2018

Arum and Thames Water have been shortlisted for Outsourcing & Partnership Initiative of the Year at the upcoming Credit Awards, the flagship event for the UK’s credit industry. The initiative focused on transforming Thames Water’s debt management to help achieve its aim of becoming best in class in collections within water […]

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Arum achieves certifications with international standard-setting body

Arum has successfully achieved world-class, globally recognised ISO certifications for its consultancy, credit management, debt collections and recovery services across the UK. These standards ensure our clients have additional confidence that the service received from Arum is of ISO standard, reliable and of good quality, with a robust management system […]

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Evidencing Compliance – Negotiating the CONC obstacle course

  The FCA’s Consumer Credit Sourcebook is now on its 23rd iteration and indeed fourth change since August 2017. Keeping on top of these changes and negotiating some of the ambiguity can be a tricky process. It is a balancing act between ensuring compliance and not strangling the agility of […]

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Are you ready for GDPR?

Take our quick quiz to test your knowledge and readiness QUIZ

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GDPR 2018: How to get ready in Collections and Recoveries

2018 is now firmly underway, and with it the new legislation for 2018, in particular GDPR, the General Data Protection Regulation, which is on the final run down until implementation on 28 May this year. There has been plenty written online about GDPR compliance already. Since the New Year it has […]

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A return to normal? – the Credit Summit 2018

Last week was the Credit Strategy – Credit Summit, a smorgasbord of credit and collections related topics. In our daily roles there is often intense focus on the collections and recoveries process itself. However, this week, in particular, is a nice change, allowing a step back to reflect on some […]

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FCA CONC – Key Areas for consideration

CONC, the Consumer Credit Sourcebook within the FCA Handbook. It is a key piece of regulation, governing everything from acquisitions, marketing, conduct of business and responsible lending to debt advice, arrears, default and recovery for unsecured lending. It has been around since 2014. An open ended nature CONC is written […]

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‘DON’T PANIC’ as GDPR deadline looms

The other week I was lucky enough to spend a bit of time with Dentons, who had Giovanni Buttarelli (the European Data Protection Supervisor) as a speaker. Obviously GDPR was top of mind for the audience and in particular some of the legal nuances with implementation. There were a couple of […]

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Persistent Debt on Credit Cards: What you need to know

On Thursday 1st March 2018 the FCA introduced their new set of rules relating to persistent debt for credit cards. Although there has always been focus on pre-delinquency and early action to prevent escalating debt (CONC 6.7.2-3 are the relevant paragraphs), this has now been extended with specifics for the […]

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Arum has two finalists in Women in Credit Awards

We are delighted to announce that two of our credit professionals have been named as finalists in the Women in Credit awards taking place in London on 15 March. Credit Strategy has launched the Women in Credit brand to empower, connect, support and uncover achievements amongst women in the profession. […]

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Top 10 Collections Systems – the Myth

One of the first questions that we are often asked either prior to or when commencing a systems selection project is, ‘What are the top 5 or top 10 collections systems?’ This is usually with the expectation that Arum has a ‘Gartner Style Report’ that will allow the client to […]

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