Credit Risk Management

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Traditional bank loyalty is gone – customer service wi...

A young saver would traditionally establish an account and stay with the same bank for life – well, those days are gone. The fallout from the financial stress of 2008, coupled with new banking regulations, and an evolving digital economy has made the customer king. In the future, it...

Read More Traditional bank loyalty is gone – customer service will determine allegiance now
The differences a decade makes to credit risk...

The Bank of England interest rate sits today at 0.25%. Ten years ago it was 4.75%. To put this in perspective on a £150k mortgage over 25 years, today’s payment would be £516 a month. 10 years ago, the cost would have been £855. This is a 66% difference...

Read More The differences a decade makes to credit risk
Big data is… big...

Big Data is now a buzz word for financial services. But, put in laymen terms it simply means businesses are faced with a mass of data that is so big, it is creating confusion and a clear strategy is hard to...

Read More Big data is… big
How Experian is innovating: Customised solutions and b...

Expectation now is such that customers demand access to digital services 24 hours a day, seven days a week – and because of this, service providers require solutions that operate to the same...

Read More How Experian is innovating: Customised solutions and bite-sized SaaS products
Towards a data-powered future: the evolution of the in...

The insurance industry is going through a period of rapid and transformational change. The explosion of consumer data, pace of new technology and increased focus on digital bring challenges and opportunities for organisations. With it comes a shift in customer behaviours and...

Read More Towards a data-powered future: the evolution of the insurance sector
Digital customers need serving by digital processes, s...

Digital customers have quickly grown used to accessing instant services via smartphones – but when it comes to assessing providers, they aren’t interested if one is a bank and another a film streaming platform, they expect each to deliver a high quality service, ins...

Read More Digital customers need serving by digital processes, so how do lenders adapt?
How do differing customer profiles affect the credit m...

The UK has an aging population – this decade alone has seen a 72% increase in ‘centenarians’ compared to the last and by 2040 nearly one in seven Britons will be over 75*....

Read More How do differing customer profiles affect the credit market?
How the technology powering affordability checks benef...

The process of taking out a line of credit is changing. In the past lenders were focused heavily on a consumers credit score and their current performance against existing financial commitments  – which didn’t necessarily take into consideration the consumers ability to afford the new credit commitment. Inevitably, this...

Read More How the technology powering affordability checks benefits both consumers and lenders
Pension fraud – affecting more people than ever...

Customer expectations and regulatory change has led to increased responsibility on the provider to protect against pension fraud. Pension freedoms have created greater flexibility and access for customers but also encouraged fraudsters to target customer’s entire pots. If providers get the identification and verification system right they can create...

Read More Pension fraud – affecting more people than ever