• HubSolv are a finalist at the Credit Strategy awards

    14th October 2020   |   Events

    Known as “The Oscars of the Industry,” Credit Strategy are back this year celebrating the 21st annual Credit Awards through a digital livestream that will recognise leaders in the credit and financial services sector.

    HubSolv are delighted to be nominated for not only one, but two, awards by the flagship, including Excellence in Open Banking and Best Technology Provider.

    These nominations come fresh off the heels of our recent recognition as the 165th fastest-growing tech company in Europe, the Middle East, and Africa, as well as our ranking of the 33rd fastest-growing tech company in the UK for the financial year of 2019.

    We are proud that our innovation, best practice, and hard work of our staff here at HubSolv are being recognised at the 2020 Credit Awards. Check out the Credit Strategy website to catch the digital broadcast on 5 November, and to (hopefully!) watch us win!

  • HubSolv moves to bigger offices to accommodate further growth

    14th February 2020   |   Company

    On Friday 14th February 2020, we at HubSolv moved to a new office in Glasgow City Centre, as we further expand into the insolvency and debt management sector.

    The new office is a stone’s throw from our previous space, and it is more than double in size totalling 2,896 square foot.

    The year 2019 was an important one for us. We continued to expand our client base, tripled our head count, and got recognised as one of the top 50 fastest-growing tech companies in the UK by an influential ranking based on revenue growth.

    The new move will allow us to keep growing, and support our ambitious plans to lead digital transformation across the insolvency space and further sectors, as we aim to streamline traditionally paper-based processes in the industry.

    “We are delighted to be expanding and moving into a much-needed bigger office space, to accommodate our sustained growth. The new office benefits from a central location within our home city of Glasgow, and it’s ideally built for client meetings and training days. We’re looking forward to making the most of the space.”

    Fraser Hamilton

    The new location forms part of the renovated office spaces within The Reel House, an iconic art deco building and former cinema venue in West Regent Street, Glasgow.

    All phone numbers and email addresses remain the same, however the new address, effective from Friday 14 February 2020, is:

    Hubsolv Ltd
    3rd Floor, The Reel House
    7 West Regent Street
    G2 1RW


  • HubSolv ranked 33rd fastest-growing tech company in the UK

    8th November 2019   |   Company

    Technology directors gathered from across the country on the 7th of November for the Deloitte Technology Fast 50 UK awards ceremony in London; one of the UK’s foremost technology awards programmes.

    Our very own directors, Fraser Hamilton and Lewis Black, were among the guests, following Deloitte’s recognition of HubSolv as one of the top 50 fastest-growing technology companies in the UK.

    HubSolv, one of the three Scottish firms to have made it to the influential list, ranked 33rd in the prestigious Technology Fast 50. Rankings are based on percentage revenue growth over the last four years, and HubSolv has experienced 1,058% growth.

    We’re thrilled to have ranked 33rd in the UK Technology Fast 50. Since we embarked on this journey back in 2014, we have strived to innovate and evolve our product offer, which aims to digitise processes for the niche industry we cater for. Deloitte’s ranking is a recognition of our achievements and denotes HubSolv’s accelerated growth as we concurrently progress with our software solutions.

    These are exciting times for our team; we have very encouraging plans in the pipeline and a talented, high-skilled team in place to support our growth and development. We’re looking forward to seeing what 2020 holds for HubSolv!


  • Automation & Open Banking: Enhancing decision-making in lending

    8th October 2019   |   Press Releases

    The current lending market has seen the emergence of software developments that help to streamline processes for loan origination and credit assessment.

    Increasingly, shifting consumer expectations and technology-led changes in the industry have taken financial institutions to be increasingly aware of the need to update their practices and make way for innovation, that can help to streamline the journey and enhance customer experience.

    Borrowers want processes to be fast and simple. Understandably, traditional practices and a rigorous framework in lending have presented a challenge – many lenders use paper-based approvals and manual procedures that cause the decision-making process to be slow, lengthy, and complicated, especially when it comes to data management. These intricate methods are also susceptible to lack of uniformity and human error. But this is where technology has come in to change the game.

    Fintech tools are penetrating the industry and helping lenders to improve efficiency and productivity in the journey of assessing creditworthiness and risks, so that it’s no longer a time-consuming, laborious task. In a matter of a few clicks, software applications can process a comprehensive view of documents required by the lender.

    Specialised automated software uses intelligent content recognition to verify documents, review and categorise transactions, and this happens 24/7, reducing manual efforts and time frames to a minimum. With automation, the lending process can be streamlined to save time and reduce costs, resulting in quicker turnarounds that contribute not only to a healthier client base, but also customer satisfaction.  

    As technology continues to set practices on autopilot, leading competitors are now looking to accelerate their decision-making processes with automation tools – and one more market force that cannot be ignored has entered the picture: Open Banking. Whilst automation has presented benefits mostly for lenders, with ways of enhancing productivity and efficiency; Open Banking brings advantages for both, businesses and also consumers.

    Open Banking has been driving competition in the finances services industry for the past couple of years, ever since it was brought to life by the UK’s Competition and Markets Authority (CMA) to provide customers with more choice and better access in terms of service providers.

    Open Banking, and the over-arching regulation underpinning the scheme, PSD2, have enabled individuals’ financial data-sharing in a secure way, giving customers control over their data, whilst urging banks and tech start-ups to innovate in new service developments. The result is a solution that is more robust than previous methods of app-based data sharing. What makes it more secure, is that the specifics of the data shared and those who are able to access it, are determined by the user. The industry is also heavily regulated, and any customer will need to opt-in to data sharing on any platform they wish to use. Furthermore, the information shared through Open Banking is subjected to strong security and encryption to ensure that it doesn’t fall into the wrong hands.

    The input of Open Banking in this evolving landscape is exciting the industry with a world of possibilities; but how can lenders really capitalise on these opportunities?

    Lenders and brokers can partner with FCA-authorised Open Banking service providers, known as Account Information Service Providers (AISPs), to request customers access to their financial data in a completely secure way, to then incorporate data into applications and risk models.

    Speeding up affordability checks and income verification

    Information available through Open Banking can cover banking transactions, bank statements and credit history – providing a full, accurate picture of an individual’s financial circumstances, which is a key step in the process of loan applications.

    The financial data shared through regulated providers can be used by lenders and loan brokers to quickly verify income, perform affordability checks and even categorise transactions. In the credit process, the implementation of open banking significantly reduces friction. Because the entire process takes place online, there is no need to collect copies of bank statements from borrowers, reducing time from application to acceptance to a minimum.

    Regulated service providers can embed the Open Banking functionality into a lender’s online application, to enable borrowers to share financial data and transaction history. The insights provided in return allow the lender to streamline income verification and affordability checks, simplifying tasks to only a few minutes.

    As the information shared can serve for completing identity checks and income verification directly with users’ banks, the implementation is also a powerful resource for companies in KYC/AML processes.

    Integrating Open Banking with automation tools

    Automations tailored to the industry are now able to incorporate Open Banking into the decision-making process to provide a solution that speeds up procedures for lenders and loan brokers, and also translates in a smooth and secure way for consumers to share their financial data.

    By automating the lending process and powering data-sharing with Open Banking, lenders can overcome the challenge of complicated procedures. Integrated solutions present powerful ways to facilitate the process for quicker, better-informed lending decisions. On the other side, borrowers can benefit from more efficient application processes and enhanced experience, quicker approvals, plus a product offering better tailored to their financial situation.

    The ability to collect data securely and instantly, and to get accurate insights directly from consumers’ banks can be easily attainable for companies by partnering with FCA-authorised providers, who can help businesses to embrace the full potential of Open Banking and get the edge in the competitive game.

    As an FCA-approved Registered Account Information Service Provider (RAISP), we at HubSolv are on hand to help forward-thinking firms in lending and financial services to make the most of Open Banking. Our integrated client portal, HubSolv Messenger, combines automation and Open Banking to improve efficiency in the process of ID verification, credit checks, bank statements and AML reports, for quick, accurate affordability assessments that can improve lending decisioning. 

    See article featured on Credit Connect


  • Software solutions to minimise risk of failure in insolvency arrangements

    7th September 2019   |   Moving

    Failing IVAs and Trust Deeds have always been an issue in the personal insolvency industry. In the case of IVAs, the latest official statistics on failure rates have shown that, for the past four years, the percentage of IVAs failing within only the first three years has been on the rise.

    Reportedly, recent years have seen 9% of all IVAs failing within the first 12 months and double the percentage failing within the first 24 months.

    The reasons why an arrangement can fail are manifold, as debtors can miss months of repayments for multiple reasons – one issue is insolvency firms lacking the technology to gather all the relevant information for every case with ease and accuracy, to properly support their clients. Traditionally this is a lengthy, paper-based process. We’ve spent extensive time digitising this process for the benefit of both consumers and debt advice firms.

    The latest technologies can make a huge difference to get a clear view of individuals’ finances and affordability, helping to prevent arrangement failure.

    As a leading software provider, we at HubSolv have put increased emphasis on streamlining the IVA and Trust Deed process for all parties involved to help facilitate success of each case, from the moment of set up through to completion.

    An automated case management system can help insolvency professionals to get a more accurate picture of the debtor’s financial circumstances. At HubSolv, we are enriching the Income & Expenditure process with Open Banking technology to instantly provide accurate financial data.

    With integrated Open Banking, we can automatically populate information from the individual’s current account in real-time. The technology fully complies with the Standard Financial Statement and allows those in financial difficulty to share their data in a completely secure manner, for a full and accurate affordability assessment.

    The advances in case management systems assist in expediting the process for personal insolvency, but more importantly, they ensure transparency and accuracy in crucial stages, which helps to minimise the risk of arrangement failure.

    Advisors are able put forward a suitable solution based on an accurate picture of the client’s financial situation. Insolvency practitioners benefit from accurate information throughout the life of a case for debtors, while creditors can more easily forecast returns.

    With a focus on bringing transparency to the personal insolvency sector, we can also help to ensure consumers are treated more fairly and given the best advice for their unique situation.

    A smooth process from start to finish

    The role that Insolvency Practitioners and firms play to help people struggling with personal debt is becoming more important than ever. With the rising number of insolvency cases to process and the increase in failure rates, Insolvency Practitioners require software solutions that can significantly improve efficiencies and accuracy.

    The IVA or Trust Deed module in HubSolv helps insolvency practices to save time in all the stages of the process:

    Pre-appointment and Post-appointment modules with a workflow-based approach.

    Credit reporting and rule-based Income & Expenditure screens with an accurate decision process that suggests the most suitable solution for debtors.

    Secure meeting of creditors module to propose cases to creditors in a quick and easy way, submit modifications and register acceptance or rejection.

    Banking module to allow practices to automate arrears handling; payment of fees, dividends and collection of contributions.

    Automated messaging via email and SMS.

    Workflow automations easily configured to a company’s needs.

    Productivity enhancing tools including user tasking system, document templates, compliant document packs and fully customisable checklists.

    See article featured on ICAS website.


  • New Look & New Features for HubSolv Messenger

    4th February 2019   |   Company

    We have now completed the rebranding of our automated client portal – previously known as Ibby – under the name HubSolv Messenger. What’s more, we have enriched the tool with Anti-Money Laundering (AML) Reports.

    Why a rebrand? 

    As we expand and evolve our products, the original Ibby branding has moved to become part of our latest development project to explore other markets. We took this opportunity to reshape the identity of HubSolv Messenger.

    With this rebrand, our aim is to strengthen the relationship between HubSolv and our client portal – and re-establish the promise of the fully-integrated solutions that we offer you with the HubSolv suite.

    Read more about the rebranding in this press release.

    New feature: AML Reports

    More than a new brand, we’ve also made HubSolv Messenger better! You can now carry out Anti-Money Laundering (AML) checks in an instant. We have rolled out this feature for some of our customers, who are making the most of AML reports to save time and improve KYC and AML regulatory compliance. If you’re interested in AML checks, get in touch!

    Book a free live demo

    HubSolv Messenger connects HubSolv users and their clients with instant messaging to verify individuals’ ID, pull Credit Reports, AML checks, Bank Statements, and upload documents – all with the click of a button. 

    Get in touch to book a free live demo. We’ll be happy to show you in a short session how easy it is to get set up with HubSolv Messenger and start making the most of the tool’s automations.

    View the explainer video


  • HubSolv named a finalist at Credit Connect Awards 2018

    1st August 2018   |   Press Releases

    For the second year, HubSolv are pleased to announce that we have been named as a finalist in the “Legal Software Solution” category at the Credit & Collections Technology Awards 2018.

    The Credit & Collections Technology Awards were launched in 2017 with the aim to reward technological innovation in the industry – providing “a showcase from which technology specialists can present and share industry credit and collections solutions.”

    Credit Connects emphasise that both winner and finalist status “highlight the success of companies and individuals who have lead the way in enhancing credit and collections technology.”

    This nomination is a valuable recognition to HubSolv and our hard work; as we relentlessly focus on enhancing our product to simplify the process of qualifying and managing personal insolvency and debt management cases.

    Our platform incorporates the latest technology into intelligent software to empower players in insolvency, lending and affordability. From customer relationship management, to automated documents, case administration, creditor communication and much more – all within one fully compliant environment.

    For more information about the event and all companies on the shortlist, visit the Credit Connect website.

  • Launch of HubSolv’s Client Portal

    8th June 2017   |   Company

    On the 8th of June 2017, we celebrated the launch of HubSolv’s client portal – a simple yet powerful instant messaging tool to transform the way you communicate with clients.

    Ibby is a web-based application that allows users to chat one-to-one and exchange information in real-time to verify credit search, bank transactional data and ID’s. The portal connects seamlessly with HubSolv, so all files are stored against individual cases for a faster, optimised case management process.

    The release of HubSolv’s client messenger provides a modern solution to improve communication and efficiency – making it much easier to qualify customers for debt cases and lending options. It is a well-known fact that Millennials are more comfortable sharing personal information via text and messaging apps than through any other media, which presents the opportunity for businesses to gather data in a quick and secure environment.

    Our exclusive launching event took place at the King Street Town House Hotel in Manchester, where we presented the exciting new tool to a group of carefully selected industry guests. It was a fantastic occasion to celebrate the launch and network with our industry peers, who welcomed the introduction of the Ibby with great feedback.

    Author’s note: In February 2019, we rebranded our client portal and changed the name from Ibby to HubSolv Messenger.


  • HubSolv are now ISO 27001 and 9001 certified

    6th February 2017   |   Company

    Our previous article on Cyber Essentials highlighted the UK’s attempt to tighten cyber security, and as previously mentioned the cyber essentials scheme was just the beginning.

    ISO 27001 2013 is a progression from this; it is the international standard that describes best practice for an information security management system (ISMS). Accredited certification to ISO 27001 demonstrates that an organisation is following international information security best practices.

    What this means to us, is that since September 2016, we have been working with QMS to create our own security management system – this is a framework of policies and procedures that includes all legal, physical and technical controls which are involved in our information risk management process – and unlike the Cyber Essential Scheme which requires an organisation to implement all of the guidelines, ISO 27001 2013 is tailored to our organisation – so to be certified and maintain the certification you need to adhere to your own information security management system (ISMS), created by you – and it is this system which you are audited on.

    We found that by creating the ISMS it made us examine our internal processes. We now have an audit trail of every procedure that we conduct in the office on a day to day basis. Drafting policies on an array of areas assisted us in identifying gaps that we had in our management process. However, the greatest benefit of drafting the ISMS was that it outlined the expectations of our staff so they now know exactly what is expected of them to ensure we deliver the most consistent and transparent service to our clients; whilst keeping their data safe, and secure.

    We also implemented our quality management system late last year and feel ISO 9001 and ISO 27001 go hand in hand; in simple terms, ISO 9001 signifies that we can demonstrate to our customers that the systems we have in place meet the high standards imposed by the International Organisation for Standardisation (ISO).

    We must continuously show our commitment to meeting our customers’ needs by operating efficient management processes and delivering quality products and services to our clients.

    We are annually audited by a third party to ensure our systems are maintained and any non-conformances are noted for correction, which in turn ensures that we are always evolving, growing and developing as a company.

    Gaining ISO 9001 certification puts focus on the client, and ensures that we provide good customer service, whilst assisting us in improving customer satisfaction.

    Achieving both ISO 27001 2013 and ISO 9001 certification reiterates that we provide our customers with the most secure environment for their data, whilst providing them with quality care and support.

  • HubSolv are now Cyber Essentials certified

    18th November 2016   |   Company

    Since the dawn of the internet cyber-attacks have been a real intangible threat. Fortunately, we recognised this prior to launching HubSolv, and also understood that most data breaches are caused by companies failing to implement basic security measures. So, from the beginning we took cyber security seriously, taking steps to protect our client’s data such as;

    • Carrying out a Penetration test whereby, a third party tried to breach our systems- which in turn highlighted any bugs to us which we then rectified.
    • Implementing a firewall to make sure our clients data was protected

    However, this was us using our own initiative, wanting to ensure the safety of our client’s data-we were not compelled to do any of the above. It was not until the UK Government’s National Cyber Security Strategy were instructed to carry out a report into cyber security that the industry could sigh a breath of relief- that the government realised the current legislation surrounding cyber security was outdated and lacklustre.

    The recommendations lead to the introduction of the cyber essential scheme (CES), which recognises the gravity of cyber-attack, and put simply the CES set out guidelines in relation to;

    1. Boundary firewalls and internet gateways – these are devices designed to prevent unauthorised access to or from private networks, but good setup of these devices either in hardware or software form is important for them to be fully effective.
    2. Secure configuration – ensuring that systems are configured in the most secure way for the needs of the organisation.
    3. Access control – Ensuring only those who should have access to systems to have access and at the appropriate level.
    4. Malware protection – ensuring that virus and malware protection is installed and is it up to date.
    5. Patch management – ensuring the latest supported version of applications is used and all the necessary patches supplied by the vendor been applied.

    This is a set of measures which strengthens the Data Protection Act, but the benefits to all businesses with an internet presence is huge. As, when the CES guidelines are fully implemented it puts all companies on a level playing field, allowing them to be compared in terms of their cyber security. Furthermore, the CES guidelines gives companies like ours a baseline, which we can then surpass.

    Moreover, a benefit of the CES, is that it saves money for SMEs; as these safe guards demonstrate to insurance companies that you have taken the necessary precautions to mitigate cyber risks, which in turn lowers your insurance premiums.

    There are those who argue that the guidelines should be the icing on the cake, as alone they are not sufficient- even acting as a smoke screen giving a false pretence of cyber security. But, in our opinion the CES highlights the risks of cyber security to novice companies, and starts the conversation on ways to combat the risk, which is a positive.

    We have also found that implementing these guidelines forced us to re-examine our processes and to effectively implement the recommendations we have had to do a lot of ground work to successfully achieve them. So in reality we have used the CES as a stepping stone to tighten up our cyber security.

    There is only so much the government can do, as realistically if the guidelines were greater the price of implementing them would be unobtainable for a lot of SMEs which would then defeat the purpose of providing a level playing field.

    We feel that any certification that assures clients that their data is safe should be seen as a positive, and are happy to announce that we have jumped on the CES bandwagon early, working hard to implement the guidelines. We hope that all SME’s like us, are currently working hard to do the same- this is just the beginning.