Category: Lending
August 13, 2021
Top 5 reasons to outsource your Lender of Record
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 changing world of collections and recoveries
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 promises to transform mortgage market with new platform
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 Launched this month, The Mortgage Hub will speed up the ‘outdated and cumbersome’ mortgage application process and increase accuracy.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
Debt Prevention: Customer Service Tips to Help Stop Borrowers Falling into Arrears
We take a look at some key steps that lenders can take to avoid customers falling into arrears.
October 28, 2020
The Sheer Scale of the BBLS Challenge in Numbers
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
The 3 Rs of Open Banking for BBLS
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
A Pivotal Moment for Business Lenders
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
Humanising Debt Collection: How to Support Customers in Difficult Circumstances
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
The True Scale of Rising Household Debt in the UK Due to Covid-19
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
UK Consumer Debt: At a glance
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
5 things lenders need to know about Generation Z and their approach to finance
Beth Collins, Solutions Lead at Target Group, examines what matters most to Generation Z when looking for financial products and providers.
June 1, 2020
New challenges facing financial services in 2020 and beyond
Katie Pender, Senior Solutions Lead, takes a closer look at new key challenges facing financial services in 2020 and beyond.
May 29, 2020
Looking over the horizon of payment holidays and forbearance
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
How can lenders successfully and responsibly deploy TFSME funds
Geraint Chamberlain, Head of Platform Solutions at Target Group, looks at the government’s new Term Funding Scheme.
September 30, 2019
Target Group hires mortgage expert Katie Pender to drive disruption in mortgage market CX
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
Can technology make consumer spending more ‘responsible’?
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
Target Group Comments: FCA publishes findings on long-term mortgage arrears
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
Millennials, loans and the digital-first conundrum
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
June CEO Blog
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
Does the digital revolution pose a threat to vulnerable customers?
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
What can the All Blacks teach us about regulation?
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
January CEO Blog
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
CML monthly lending figures
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
What is the Future of Lending?
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
Ian and Bill’s monthly review – October
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
Brexit: What now for lenders?
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
Ian and Bill’s monthly review – July
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
Lending into Retirement
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
Smarter, stronger, faster – how do lenders gain a competitive edge in a crowded market place?
The lending market looks to have entered another cycle over the past few years.
April 26, 2016
Ian and Bill’s monthly review – May
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
Ian and Bill’s monthly market review
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
Disaggregation: the springboard for lending innovation
Immediately after the global financial crisis our industry experienced a period of existential threat. The good news is – we still exist!
February 10, 2016
Interview with Mike Newman as Hartmoor launch their first products to market
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
Our Top Tips for Peer to Peer lenders when choosing a standby servicer
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
An interview with Paul Smee, Director General, CML
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
Banking Beyond Borders
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
An Interview with our Co-Group CEOs Bill and Ian
We catch up with our Co-Group CEO's Bill and Ian
September 14, 2015
A challenging route to market for challenger banks
Since the financial crisis the banking industry has undergone a number of changes.
September 14, 2015
Interview with Tony Ward, CEO Clayton Euro Risk
We catch up with Tony Ward, CEO Clayton Euro Risk
August 12, 2015
Equity Release: current success and future challenges
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
Data Analytics – how to ensure a positive impact on your business
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
Why is UK lending the place to be?
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
Question and Answer with Geraint Thomas, Partner, Eversheds
We catch up with Geraint Thomas, Partner at Eversheds.
May 27, 2015
Innovation in the non prime mortgage market
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
Building a Data Analytics capability
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
Paul Smee, Director General, Council of Mortgage Lenders Interview
We catch up with Paul Smee, Director General of Council of Mortgage Lenders
April 23, 2015
Are you prepared for the technology revolution?
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
Big Decisions
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
Question and Answer with Richard Thompson, Partner Portfolio Advisory Group at PwC
We catch up with Richard Thompson, Partner Portfolio Advisory Group at PwC.
March 27, 2015
Asset Rich or Cash Poor. Is Equity Release what you are looking for?
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
The inexorable rise of the new lender and TPMA
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
Data Analytics
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
The Regulatory Year Ahead
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
What will the mortgage market look like in 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
Insightful research into borrowers spending habits
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
A change is gonna come…
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
What does the future hold for new entrants to the UK mortgage market?
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 EU Mortgage Credit Directive: An uncertain future for Buy to Let?
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
Scottish independence – can we cope with more change?
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
New beginnings and new entrants
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
Outsourcing supports good lending
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
The importance of arrears strategy in the post MMR world
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
Standby Servicing shouldn’t be left out in the cold
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.