Mar 2021 | Credit Decisions

Critical disruptions, risks and opportunities to improve credit strategies

While the covid-19 pandemic caused unprecedented impact on the UK, and global economy, it isn’t the only risk. As we head into 2021 climate risk/change, regulation, digitisation and consumer requirement all continue to accelerate, and change the goal posts. In this paper we explore a selection of critical disruptions, alongside the risks and opportunities that exist to improve credit strategies in order to be more agile, accurate and responsive to the multiple, and disparate needs of consumers and businesses.

This paper has been created by Experian’s executive and expert teams to collate a viewpoint of industry trends and requirements. It shares our thinking and findings from a lender view, together with the approaches needed to respond to the realities outlined in our New Credit Economy report.

At Experian, we’re continuing to innovate with data, analytics and workflow platforms, to help firms navigate the crisis and unlock new opportunities. We’ve continued to invest in Covid-19 specific innovations to provide additional clarity into risk management, capital adequacy and credit provisioning. Alongside this, we continually track and analyse trends across bureau data and non-traditional data sources, as well as economic and market conditions.

We were doing this before the pandemic, but the last year has accelerated the need to delve deeper into cause, threat and opportunity. This paper outlines the context and significant themes which will continue to change the credit market, alongside examples of how we’re driving solutions to improve process and outcomes.

Download our paper 'Credit risk in a climate of change'