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Innovation in a competitive climate: can you rise above the competition?

Posted on Dec 11 2012 by

The face of lending is changing noticeably. Since the credit crisis of 2007, managing risk is high on the agenda and banks are rightly tentative about extending credit. New regulations imposed by the Financial Services Authority (FSA), mean that lending has to be even more responsible with greater focus on affordability and selling the right products. The multitude of alternative lenders on the scene means that customers have more choice in their borrowing – they’re easily provided with quick decisions and flexible products to bridge short-term gaps.