What customers want from every provider
Pre-Covid people were already financially exposed, and while the levels of delinquencies were stable there was stress building in the financial system – the level of financial capacity had largely reduced, spurred by a buy now pay later mentality, and overall rising level of indebtedness.
Over recent years firms’ have embraced affordability as a means of measuring risk. This has led to a raft of new product design, subsequently leading to new lending. With a rise of lending (in value and volume) – people’s exposure and financial capacity has become strained.
In this insight report we explore pre and post-pandemic trends, we give a view of consumer needs, and wants and explore the strategies needed that can help consumers better understand and manage their financial health.