Outlined in this document are the key challenges facing businesses in 2022 and the credit and collections industry trends we believe will be seen as businesses position themselves to overcome them. UK Debt Collection Industry Report: Key Trends for 2022 Contents About Us Author About Barratt Smith Brown Introduction Challenging Economic Landscape Short to medium…
The FCA Finalised Guidance For Firm On The Fair Treatment of Vulnerable Customers identifies three areas which are essential for firms to consider when building a vulnerable strategy as outlined in the below diagram. For businesses which are just starting out building their customer vulnerability strategy, we have broken these down further in to 7…
Frontline, customer facing staff play an important role in early identification of vulnerable customers, and this can make a huge difference in customer experience and outcomes. It is therefore critical that your customer facing staff can quickly identify signs of vulnerability in any interaction. One of the established best practices for identifying vulnerable customers, is…
We all have preconceptions about what vulnerability looks like – whether it is someone with mental or physical disabilities, the elderly and frail or the young. In fact, we all have the potential to become vulnerable – vulnerability can affect anyone. The FCA define a vulnerable customer as “someone who, due to their personal circumstances,…
