Latest opinions that Nick Green has shared on Finextra

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Nick Green

Director

Purple Patch Broking Ltd

Member since

07 Dec 2020

Location

Stratford-Upon-Avon

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Nick's opinions

When's the best time to renegotiate your credit bureau contract?

When is the best time to renegotiate a credit bureau contract? With costs, data quality, and your organisation's changing needs on the line, the timing of renegotiation can make all the difference in maximising contract value and ensuring your contract stays aligned with your business goals. Acting too late can leave you stuck overpaying or ope

12 December 2024 /regulation /retail Banking

Credit data trends: what to look out for in 2025

You'd think the credit data market would be fairly predictable by now. But if there's one thing we've learned from working in credit risk for the last 30 years, change is constant. While some organisations are paying up to five times more than their competitors, others have managed to secure much better deals. The difference often co

10 December 2024 /regulation /retail Banking and Lending Solutions

How the FCA's new BNPL regulations demand better bureau data for credit risk

The Financial Conduct Authority's (FCA) new regulations of Buy Now, Pay Later (BNPL) mark a significant shift in the industry. With nearly half of UK adults now using BNPL services, these rules introduce crucial requirements: mandatory affordability checks and clearer loan disclosures. While these measures protect consumers from mounting debt, th

21 November 2024 /regulation /retail BNPL

Strengthening digital banks against fraud: Best practices for the industry

Digital banks have levelled up finance with their unmatched speed and convenience, but this agility also makes them prime targets for fraudsters. Authorised push payment (APP) fraud is on the rise, with losses hitting £580 million in the first half of 2023, according to UK Finance. The very features that make digital banking appealing—fast, onlin

19 November 2024 /retail /crime Banking

Maximising AI risk model performance with multi-bureau data

Many financial institutions shy away from multi-bureau strategies, fearing complexity and cost. What if we told you that not only is a multi-bureau approach achievable, but it can also significantly enhance your AI model performance while potentially reducing costs? In this post, we'll show you how to maximise your AI's potential with multi-bur

26 September 2024 /ai /retail Banking and Lending Solutions

The importance of quality data in AI risk modelling: How data benchmarking can help

Just because your firm can use your existing data for AI risk modelling doesn’t mean you should. There’s a perception that AI can create accurate predictions based on any data set. That’s not always the case. AI models are only as good as the data they're fed. Quality data is key to effective AI risk modelling. Without it, even the most sophistic

24 September 2024 /ai /retail Banking

Citi's $136M fine: A stark reminder of data's critical role in risk management

Imagine losing $136 million in a single day. That's the harsh reality Citi faced recently, courtesy of US regulators. Why? A key reason was due to poor data and risk management. This eye-watering fine isn't just a Citi problem. It's a wake-up call for the entire financial services industry. This hefty penalty stems from Citi's failure to address lo...

22 August 2024 /regulation /retail Banking

UK credit markets: Adapting to global risk management trends

No longer operating in isolation, the UK credit market is now impacted by global risk management trends. In recent years, global impacts have changed how credit risk is assessed, managed, and regulated in the UK. It’s affecting credit providers of all sizes, from traditional banks to innovative fintech startups. While this may pose challenges, it ...

20 August 2024 /regulation /retail Banking

Breaking down The Economic Crime and Corporate Transparency Act

The Economic Crime and Corporate Transparency Act (ECCTA) introduces key changes to Companies House, aiming to enhance the accuracy and reliability of business information. Designed to enhance transparency and combat economic crime, here’s how it will help: Reforms to Companies House: The ECCTA mandates that companies must have an ‘appropriate ad...

23 July 2024 /retail /crime Banking

Optimism returns to Fintech: How firms can support growth with the right data

The fintech industry has faced major hurdles due to economic ups and downs and changing regulations. This has forced fintechs to rethink their rapid growth plans. Unbridled expansion is no longer viable. Now, fintechs must prioritise sustainable and profitable growth over the long term. As a major contributor to the economy, the UK fintech sector ...

20 June 2024 /retail /crime Fintech

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