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Applying what we’ve learnt to credit risk strategies

In the months since the Coronavirus first hit the headlines we’ve seen and experienced seismic shifts in the way we live, work and spend. While we all try to adapt to a new normal, the reality is ‘normal’ continues to evolve at pace.

At Experian, we’ve been monitoring the behavioural and economic impacts of the pandemic, and the measures the Government has put in place to tackle it, from the very beginning. Alongside our industry research and the ongoing tracking of changes to demographics, this puts us in a unique position to observe and report on emerging trends.

The challenge during this period has been the volatility of those trends. Changes are rapid, and sometimes short-lived. Signs of recovery seen in one month are reversed the next. This unpredictability makes devising appropriate strategies much more difficult.

In our latest industry report, we summarise the last 9 months before looking to the future. Within, we look at how consumers and businesses have changed and what new risks and opportunities need to be considered. Throughout, we also provide guidance and clarity on the strategies and changes that are needed to manage credit risk throughout 2021 and beyond.

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