10.9m consumers are struggling to pay their bills in the UK
The FCA’s latest Financial Lives survey has found that the number of people who missed payment on domestic bills or their credit commitments in 3 or more of the previous 6 months went up by 1.4 million: from 4.2 million (8%) in May 2022 to 5.6 million.
Experian’s own research shows that two thirds of consumers are claiming inflation is having a significant impact on their finances.
Lenders can play a vital role in supporting consumers in these difficult times.
The volatility of the UK economy and its impact on people’s finances has made understanding their affordability more complex. Changes in what we earn and can afford to pay for have become more immediate and dramatic as fluctuations in prices and interest rates hit people’s pockets.
Access to the right data to understand the impact is imperative, and the FCA’s new Consumer Duty puts a renewed focus on the tools being used by lenders to assess affordability to drive better consumer outcomes.
Join us for this exclusive webinar and leave with improved insights and knowledge that’ll help you today, tomorrow and into the future.
Register now to attend our exclusive webinar.
Date: Tuesday 4 July 2023
Time: 10am - 11am
Join us at our latest webinar and find out:
Meet the speakers
Andrea Cox
Director of Affordability, Experian
Andrea Cox is Experian’s UK lead and Director of Affordability. She has spent over 20 years working with financial institutions helping them understanding the role of bureau and Open Data in understanding consumer affordability.
With an extensive knowledge of the sources of data and the value this drives for consumers and lenders, she helps organisations optimise the use of affordability data throughout the credit lifecycle to help lender’s onboard consumers safely and proactively manage customer vulnerabilities. Her consultative approach to supporting lenders has proved invaluable and enabled her to gain an enviable reputation on how best to apply bureau and Open Data to help lenders grow and drive better outcomes for consumers.
Vanessa Northam
Head of Charity Development at StepChange Debt Charity
Vanessa is Head of Charity Development at StepChange, where she is responsible for strategic partnerships, referrals and all funding to support the work of the charity.
Her role is focussed on developing new propositions and services, to enhance referrals into the charity, to support the more people than ever before. Prior to joining the charity, Vanessa worked in an Open Banking start-up and consulting on the needs of vulnerable customers. Previous roles also include leading E.ON’s vulnerable consumer strategy, where she implemented an award winning identification and support tool, and set-up their £6million hardship fund.
Jason Wassell
Chief Executive, Consumer Credit Trade Association
Jason Wassell serves as the Chief Executive of the Consumer Credit Trade Association (CCTA), a position he has held for the past two years. Before his role at CCTA, he held the position of Chief Executive for two trade associations representing smaller lenders for an additional five years (both the BCCA and CFA).
His current post involves leading a small team that advocates for alternative lenders, working as an advocate, sharing industry insight, and fostering a community amongst members.
With an extensive background spanning twenty years, Jason has experience in policy, risk management, and communications. He was among the first professionals in the UK to achieve the designation of Chartered PR practitioner and has crafted strategies in challenging environments for both public and private sectors.
Within the not-for-profit environment, he has contributed to the development of anti-racism policies for the Scottish Government. As well as actively participated in campaigns addressing pressing issues such as fuel poverty and domestic violence, both nationally and internationally. His work in this regard also includes collaborations with organizations like the British Council.
Jason Wassell continues to lead CCTA in advancing the interests of alternative lenders while contributing to the growth and responsible practices of the consumer credit industry.