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As banks predict rise in defaults, unsecured borrowing is surging

As banks predict rise in defaults, unsecured borrowing is surging

Lenders reported that demand for unsecured lending increased in Q4, and they’re anticipating it to rise further in Q1 this year, according to the Bank of England

Top Stories

As banks predict rise in defaults, unsecured borrowing is surging
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As banks predict rise in defaults, unsecured borrowing is surging

22 Jan 2021Lauren Tavener
Lenders reported that demand for unsecured lending increased in Q4, and they’re anticipating it to rise further in Q1 this year, according to the Bank of England

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Is open banking the answer for the under-served?

Is open banking the answer for the under-served?

Top Stories07 Dec 2020
Credit Strategy is hosting a webinar on December 9 with a panel to explore how lenders can grow market share while lending responsibly – while also enabling under-served customers to access finance
Evan Davis and FCA to appear at a landmark Credit Summit for 2020

Evan Davis and FCA to appear at a landmark Credit Summit for 2020

News16 Oct 2020
Credit Strategy has launched the full agenda for the Credit Summit, sponsored by Experian, which will feature Evan Davis returning as chair and the Financial Conduct Authority (FCA) delivering a keynote on the regulator’s expectations
Treasury announces changes to debt collection letters

Treasury announces changes to debt collection letters

News09 Oct 2020
The Treasury has announced that debt collection letters sent by lenders and collections firms will change to include ’less threatening’ terms and simpler language for customers
Car finance market returned to growth in July

Car finance market returned to growth in July

Top Stories09 Sep 2020
New business in the consumer car finance market grew nine percent by volume in July 2020, according to the latest figures from the Finance and Leasing Association (FLA)

Trending

Phil Andrew

Food rations and cold homes – the reality of problem debt

22 Jan 2021Phil Andrew
At some point in 2021, StepChange expects a collision between problem debt and vulnerability, but policymakers can find a way to help those turning to food banks, writes Phil Andrew
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The personal touch: How lenders are supporting vulnerable customers through the pandemic

The personal touch: How lenders are supporting vulnerable customers through the pandemic

Edition’s highlights:

→ How lenders are personalising engagement and policies for vulnerable customers

→ Chris Fitch, vulnerability lead consultant at the Money Advice Trust, explains how firms can satisfy ICO and FCA guidance on recording vulnerability among customers

→ StepChange’s CEO shares views on how new inquiries from clients in financial hardship are already flooding in to debt advisers
Read the issue

The CS Interview

Premium: Yorkshire Building Society’s Tracey Newton on scaling the lender’s reward offering to its staff

Premium: Yorkshire Building Society’s Tracey Newton on scaling the lender’s reward offering to its staff

19 Feb 2020Amber PritchardAmber Pritchard
Tracey Newton of Yorkshire Building Society discusses innovating a reward strategy to serve nearly 4,000 people, whatever stage of their life or career they are in
Read full interview

Opinion

Phil Andrew

Food rations and cold homes – the reality of problem debt

22 Jan 2021Phil Andrew
At some point in 2021, StepChange expects a collision between problem debt and vulnerability, but policymakers can find a way to help those turning to food banks, writes Phil Andrew
Jonathan Horsman

The view from Westminster: Why emergency support to protect consumers will be here to stay

22 Jan 2021Jonathan Horsman
Some measures introduced to protect consumers of credit products will likely become permanent, writes Jonathan Horsman, secretary to the All Party Parliamentary Group on Alternative Lending
Steve Peacock

Opinion: How to keep the culture you want

15 Jan 2021Steve Peacock
Covid-19 and its effects present new challenges when measuring and retaining company culture – but that can have positive results, writes Steve Peacock, CRO at Think Money

Features

Opinion: Amid new FCA guidance for motor finance, how ready are you to ‘keep customers well informed’?
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Opinion: Amid new FCA guidance for motor finance, how ready are you to ‘keep customers well informed’?

17 Jul 2020Andy ThomasAndy Thomas
With the release of the Financial Conduct Authority’s finalised, updated guidance for the motor finance sector, the message is clear, explains Andy Thomas, motor finance operations director at collections and recoveries specialist Chartsbridge

Credit 500 - an index of influence

Credit 500
Alex Ellerton

Alex Ellerton

Partner, Financial Services Group
Grant Thornton
Andrew Brameld

Andrew Brameld

Managing Director
BNP Paribas Personal Finance
Cyrille Salle de Chou

Cyrille Salle de Chou

CRO
HSBC
David Poole

David Poole

Chief Risk Officer
Brighthouse
Doriana Iovino

Doriana Iovino

Chief Risk Officer
Vive Bank
View Credit 500 Nominate for 2021

Webinar recordings

Listen on demand webinar - How open banking can ensure responsible lending growth

Listen on demand webinar - How open banking can ensure responsible lending growth

This on-demand webinar with Credit Kudos and a ...
Available on demand: Tracking the car finance market’s recovery 

Available on demand: Tracking the car finance market’s recovery 

Credit Strategy’s webinar on tracking recovery ...
Listen on demand: Compliant expansion - understanding the international payments landscape

Listen on demand: Compliant expansion - understanding the international payments landscape

Credit Strategy members can now listen on demand ...
Listen on demand: Webinar - Tracking confidence in Car Finance

Listen on demand: Webinar - Tracking confidence in Car Finance

Credit Strategy is hosting a webinar, in ...

Insight tools

Premium: The outlook in credit as Brexit approaches

With just weeks left before a potential disorderly exit from the EU, Credit Strategy highlights why credit professionals should be aware of consumers’ inability to absorb a shock and why younger customers could be most at risk

Editor's annotations: Five things we learned about the FCA at the Car Finance Conference

Compliance with regulations has occupied car finance providers’ workload over the last year. Industry expert Jo Davis told the Car Finance Conference, sponsored by Experian, what to expect

Eight things we learned about vulnerability at the Credit Summit

Debt charity Christians Against Poverty undertook an in-depth review of vulnerability and its many forms in its Stacked Against report. At the Credit Summit, director of external affairs Dawn Stobart and social policy manager Rachel Gregory outlined their findings. Here are some highlights
More insight tools

Careers

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Magazine digital editions

The personal touch: How lenders are supporting vulnerable customers through the pandemic
Great expectations: Why mortgage customers affected by Covid need innovative new products
Payment deferrals: Lifeline or liability?
Continuity in a Crisis
New directions: Debt purchasers have moved to deleverage and refinance. What are the factors driving them?
A broader view: Cambridge Building Society’s Victoria Stubbs explores the broadening responsibilities chief risk officers now face
Read previous editions
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creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace. @ Copyright Shard Media Group