Experian research shows that the cost of living squeeze will lead to highly variable consumer pressures, depending on individual circumstances, including which sector a customer works in and where they live.
- 14.7 million people have a low financial resilience
- 31% of people do not feel financially secure
- 23% of people with income changes due to COVID-19 are expecting to take out new credit
The key message for organisations is that today, no two individuals are alike in their experience of the pressures of the squeeze, or in their resilience to those pressures. There are as many risk profiles as there are consumers.
Read our guide to find out how lenders can better understand their customers and manage risk through the crisis:
This eBook is also available to download as a PDF.
Lenders now have an opportunity to guide customers through the coming months with new products and more tailored support functions to both protect their existing portfolio and achieve growth. But to do so effectively, they need accurate data on their customers to offer the right kind of products and manage their risk exposure.
Experian provides this insight. By combining data on both macro trends and individual behaviours, we can give you the visibility you need to be agile through the changing economic climate.