Fintechs lead call for consumer support change

FinTech company IE Hub is callung for change in a battle to support consumer needs.

The firm has reached out to experts from energy, water, customer vulnerability, and technology in a drive to build a robust ‘Thought Leadership Group’.

The Group chaired by Ian Parry,  aims to build a vibrant community through which the sectors most eminent and innovative visionaries can shape utility agendas, capitalise on multi-industry collaboration, and cultivate future industry practices.

Lockdown restriction may be easing across the country, but, the impact of COVID-19 will be felt for the foreseeable. As forbearance measures are removed, we will begin to realise the financial impact left behind and brace ourselves for the “Debt Tsunami” that many are predicting. The group will challenge current practices and measures, to drive change for consumers who may be struggling financially.

Mark McELvanney, Sales Director at IE Hub, said “We work with many people who are in debt as a result of a life event that has had an emotional impact on their ability to manage their finances or a physical issue that has impaired their ability to work. Nearly 70% of our users have told us that they felt anxious when they had to talk to creditors to set up reduced payment plans. Our work takes much of this anxiety away by making it simple, enabling them to do it all online in their own time, and giving them a better understanding of their finances and a sense of control when they do eventually speak to their creditors.”

“We recognise that consumers need ongoing support, which is why we have built a Thought Leadership Group. There are so many amazing individuals within the utility sector, who can share their experience to benefit people in need.”