August 13, 2021
When market opportunities arise, they won’t be open for long. Change is accelerating, and lenders need to be ready to move quickly to be able to take advantage of the market. Here I outline the top 5 reasons that lenders should outsource their Lender of Record (LOR).
July 26, 2021
The Covid-19 pandemic has undoubtedly had a significant impact on customer arrears. We’re seeing many changes in the demographics of customers in arrears and the typical arrears lifecycle, including the increasing complexity, longer recovery periods and more vulnerability.
January 21, 2021
Target Group is launching a fully digitalised mortgage platform to transform the mortgage application process. Launched this month, The Mortgage Hub will speed up the ‘outdated and cumbersome’ mortgage application process and increase accuracy.
November 21, 2020
We take a look at some key steps that lenders can take to avoid customers falling into arrears.
October 28, 2020
As lenders get ready for repayment of BBLS loans from May 2021, take a look at the sheer scale of the BBLS challenge.
October 28, 2020
At the time the scheme was launched and the first loans were issued, no one could have predicted the path of the novel coronavirus, and its impact on the UK and the world. The result? 1.3m loans have been issued, with a total value of over £40bn at an average of £30,000 per loan. But what happens next?
October 21, 2020
Within the next 3-5 years, we will see a revolution in lending. A series of small changes will eventually cause large systematic change, but Covid-19 has accelerated the need for digital transformation. It’s important to invest now to be prepared for the digital future.
October 7, 2020
The debt collection process can be difficult, stressful and time-consuming for both the debtor and the lender. Due to the ongoing coronavirus crisis, there are more loss-making accounts than ever, and the pressure is on lenders to provide debt collection methods and techniques that are effective and compassionate.
October 5, 2020
Some may argue that the ongoing Covid-19 pandemic is as much an economic crisis as a public health issue, but what is the reality of UK debt due to coronavirus?
September 2, 2020
Lenders are facing a tsunami of challenges off the back of the Covid-19 pandemic. The impact on consumer debt in the UK is huge and long-lasting. As we head towards the end of the furlough scheme, and with payment holidays finishing soon, lenders will need to be prepared for what comes next.
July 13, 2020
Beth Collins, Solutions Lead at Target Group, examines what matters most to Generation Z when looking for financial products and providers.
June 1, 2020
Katie Pender, Senior Solutions Lead, takes a closer look at new key challenges facing financial services in 2020 and beyond.
May 29, 2020
We take a look at how businesses can adjust to the short and mid-term demand increase for servicing collections and arrears.
March 31, 2020
Geraint Chamberlain, Head of Platform Solutions at Target Group, looks at the government’s new Term Funding Scheme.
September 30, 2019
Target Group, the financial services outsourcing and software provider, has today announced the appointment of Katie Pender as its new Senior Solutions Lead.
January 3, 2019
Charities are increasing their pressure on the finance industry to do more to protect its customers from their own spending. With Barclays introducing ways for its debit cards to be ‘switched off’ to certain types of spending, will we see such features extend further into all retail finance?
December 7, 2018
Terry Baxter, Director of Risk and Compliance at Target Group, said: “The FCA’s findings on how mortgage lenders treat customers who have long-term arrears is a timely and important study."
September 13, 2017
In lenders' boardrooms up and down the country there is a dawning realisation that to stay relevant they will have to increasingly appeal to a younger, more digitally-savvy demographic.
June 30, 2017
Once again politics has taken centre stage after the snap election threw up some intriguing results. The political train even stopped by Target’s offices in Newport in May as we welcomed the Foreign Secretary Boris Johnson.
April 11, 2017
Digital processes are now increasingly commonplace in the lending industry. Numerous challenger organisations have launched in the past decade, each looking to disrupt the market and steal a significant share from established firms.
January 17, 2017
For the past decade, the All-blacks have undoubtedly been the dominant force in world rugby and arguably in world sport. Whilst watching them recently, I was struck by how they continually seem to a step or two ahead of the pack.
January 17, 2017
Following the announcement of our acquisition by Tech Mahindra, this year is already shaping up to be an exciting one for us as we look forward to the next stage in our growth.
October 12, 2016
All indications are that lending has bounced back this month after a dip in July and August. Fears that the market may be cooling over the longer term post the referendum seem unfounded as first time buyer activity in particular is increasing, which is encouraging.
September 29, 2016
As Co-Group CEO at Target Group I’m often fortunate enough to have a front row seat to witness genuine innovation in financial services. Recently there have been some changes in the lending market in particular that seem to portent exciting times ahead.
September 29, 2016
As the dust continues to settle following Brexit, the economic landscape is at least becoming a little clearer. The Bank of England has acted by cutting the base interest rate, to a new historic low of 0.25%.
August 25, 2016
The result of the EU Referendum unleashed a wave of uncertainty as central banks, investors, spenders, savers and borrowers alike watched on to see how the result hit the economy.
August 21, 2016
The past month has seen momentous events unfold in Britain and for its European partners. Although the UK has undoubtedly entered a new era, negotiations may well not start for some time and political uncertainty is likely to dominate the country’s agenda for the foreseeable future.
May 16, 2016
The confluence of an ageing UK population, house price inflation and new pension freedoms all point to the importance of finding solutions to the question of how our industry best lends into retirement.
May 11, 2016
The lending market looks to have entered another cycle over the past few years.
April 26, 2016
We’re delighted to kick of this edition with the fantastic news that we were named as ‘Best Credit Services Provider’ at the recent 2016 Credit Today awards.
April 4, 2016
It has been a busy month in the financial services sector as ‘Brexit’ fever grips not just the industry, but the entire country.
March 17, 2016
Immediately after the global financial crisis our industry experienced a period of existential threat. The good news is – we still exist!
February 10, 2016
We caught up with Mike Newman, Director of Structured Products at Target Group, to understand a little more about the launch and the opportunities he sees in the marketplace
February 2, 2016
In a rapidly changing market giving your customers and shareholders peace of mind that you have a back up plan in place should the worst happen is essential.
January 22, 2016
Clearly there’s been a lot of change in this market, particularly in the tax treatment of Buy to Let landlords. The sector must be feeling a little groggy from the amount of change that it has had to plan for, particularly with amendments to the stamp duty and the landlords tax allowance
October 27, 2015
Introduced by National news presenter Natasha Kaplinsky, the video looks at developments in the banking industry and showcases how we help financial services businesses operate within a changing landscape.
October 8, 2015
We catch up with our Co-Group CEO's Bill and Ian
September 14, 2015
Since the financial crisis the banking industry has undergone a number of changes.
September 14, 2015
We catch up with Tony Ward, CEO Clayton Euro Risk
August 12, 2015
The Equity Release industry has been one of the real success stories of the mortgage market over the past few years. We broke the billion barrier in 2013, set a new record of £1.4 billion in total lending last year and 2015 looks set to be yet another record-breaking 12 months.
August 12, 2015
Large organisations will generally generate significant quantities of raw data and information on a daily basis – this data can be a real asset to the business and when utilised properly it will support more informed decisions throughout a business; optimising or creating processes/systems, methodologies and opportunities.
June 30, 2015
We catch up with Bharat Sagar
June 30, 2015
As talk in the media generally tends to focus on first-time buyers and London house prices, it’s easy to forget about the non-prime mortgage industry.
June 5, 2015
Mortgage Finance Gazette Lunch Club sponsored by Target “Innovation and choice in the non-prime mortgage market”
There is a demand for specialist lending but there is also a need for innovation in the various part of the market that the’ non-prime’ label covers.
June 3, 2015
We catch up with Geraint Thomas, Partner at Eversheds.
May 27, 2015
As talk in the media generally tends to focus on first-time buyers and London house prices, it’s easy to forget about the non-prime mortgage industry. It may appear to outsiders that the market has faded away, but non-standard customers are as important as ever – even if the market looks different from the past.
April 30, 2015
Developing a robust data analytics capability within a business, requires a number of important steps that need to be undertaken before embarking on any development programme. There are a couple of key points you must consider when starting this journey.
April 28, 2015
We catch up with Paul Smee, Director General of Council of Mortgage Lenders
April 23, 2015
With Halifax said to be trialling the use of heartbeat monitors to determine a customer’s identity, technology in the financial sector appears to be advancing more quickly than ever. The bank has revealed plans to use special wristbands to check the heartbeat of its customers – something which is completely unique to each individual - before allowing them to access their online banking facilities.
April 22, 2015
Business likes its buzz words and one of the most often quoted in recent times has been the term ‘Big Data.’ Definitions of ‘Big Data’ vary but one simple and widely held view is that it refers to the massive volumes of both structured and unstructured data that can be mined to reveal patterns or trends around customer behavior and your interaction with them.
March 27, 2015
We catch up with Richard Thompson, Partner Portfolio Advisory Group at PwC.
March 27, 2015
2014 was the best year ever recorded for Equity Release lending. £1.4bn was loaned into the market and the number of new customers also reached its highest level for 6 years.
March 25, 2015
So we have recovered. It seems that most commentators believe that the UK economy is back on a safer footing (despite some notable risks and potential headwinds) and as the wider economic environment continues to improve the UK mortgage market is, broadly speaking, on the up. 2014 saw regulatory issues dominate.
February 24, 2015
Whether they realise it or not most large organisations are awash with valuable data. More often than not, there is a mountain of information tucked away in a number of departments, in varying states of accessibility, accuracy and formats.
January 27, 2015
2014 was an eventful year for Financial Services! The introduction of the Mortgage Market Review (MMR), as well as the implementation of the Consumer Sourcebook kept everyone busy and 2015 looks like it will be more of the same.
January 19, 2015
We have seen some significant changes in the mortgage market over the last year, the most substantial being the implementation of the Mortgage Market Review (MMR) in April. Undoubtedly one of the most extensive pieces of legislation the sector has witnessed in the last decade.
November 6, 2014
We recently partnered with YouGov to conduct a research survey of 2000 consumers looking into the borrowers spending habits in the wake of the Mortgage Market Review.
October 31, 2014
Received wisdom within financial services is that consumers of financial products don’t like change. Inertia is often cited as a major issue across a diverse range of financial products. Whether it is bank accounts or remortgage rates, it does seem that people often need to be reminded or cajoled into securing a better deal for themselves and, even then, they can be reluctant to act. So why is that the case?
October 14, 2014
The UK economy is emerging from the financial instability that has characterised the past few years. The mortgage market is moving back to growth, with the Council of Mortgage Lenders predicting that volumes will rise further during 2014, potentially reaching £200billion.
October 14, 2014
The announcement last month of plans to regulate buy-to-let (BTL) lending as part of the EU Mortgage Credit Directive has left many in the mortgage world scratching their heads.
September 15, 2014
Whatever views one might have about political and economic ramifications, it is clear that most of the industry would not welcome the huge amount of work required to unpick a financial union that has been in place since 1707. In the mortgage market in particular concerns have been raised about how mortgages could be denominated and regulated were the union to be dissolved.
June 23, 2014
As the UK economy emerges from the financial instability that has tainted the past few years, the mortgage market is showing strong recovery signs. The market is finally settling down after a few years of turbulence, consumer and lender confidence is returning with a flourish.
June 23, 2014
Over the past seven years, the financial services industry has experienced significant change and upheaval. Despite this, one constant has remained; the use of outsourcing. So with all the transformation and turmoil, why is it that lenders still favour outsourcing?
May 12, 2014
With the introduction of the Mortgage Market Review (MMR) last month, the main challenge for lenders has been how to comply with regulation effectively whilst still delivering excellent customer service and retaining their competitive advantage.
April 14, 2014
Since the financial crisis, standby servicing has played an increasingly important role in reassuring investors. As a result, lenders who have not ring fenced their back office functions have felt the heat to have a robust standby servicing provision in place.