Credit, Collections & Insolvency News
Consumer spending declined 7.1% year-on-year in 2020, as coronavirus restrictions impacted many sectors, with high-street retailers and hospitality hardest hit according to new data from Barclaycard. Yet there were some bright spots as changing consumer behaviours spurred e-commerce growth, while the rise of the ‘insperience economy’ saw digital services and subscriptions boom as consumers spent…
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As European economies struggle to cope with the effects of the second wave of the coronavirus, Intrum’s Financial Wellbeing Barometer highlights the disparities in financial wellbeing among consumers across the continent. While pre-existing household debt and financial instability have been aggravated by the pandemic in southern Europe, stimulus measures appear to have protected household incomes…
Read moreThe Financial Conduct Authority (FCA) has appointed Quilter CEO Paul Feeney as the Chair of its independent Practitioner Panel. Feeney will take up the post from 1 January 2021, succeeding Tulsi Naidu, CEO of Zurich UK. He has been a member of the Panel since 2015. Welcoming the appointment, the FCA’s Chair Charles Randell said…
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Two-thirds of consumers are determined to get on top of their finances in 2021 – after spending more time thinking about money than ever before this year according to research by Samsung. The study of 2,000 adults found many will do things differently in months ahead, including opting to ditch cash altogether in favour of…
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Even before 2020, forward-thinking call centers had abandoned proven, “old-school” outbound marketing and contact preferences for newer, emergent digital channels. Over the last several months, however, when work shifted to home and all non-family interactions suddenly shifted online, digitisation took center stage. The volume of debit/credit card renewals, customer surveys, COVID-19 FAQs, collections, deferrals, and…
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