Following the publication of the University of Bristol’s Personal Finance Research Centre (PFRC)/UK Cards/Finance & Leasing Association’s latest guide on vulnerability in the debt collection sector in March 2017, lead academic Chris Fitch and his team yesterday launched ‘Vulnerability: a guide for lending’.
This new guide, which is again endorsed by a number of other MALG members including the Credit Services Association and the Money Advice Trust, provides lenders with a renewed focus, new insights, and new tools for working with customers in vulnerable situations.
It brings together new survey data collected from 1,666 staff who directly take customer credit applications in a representative sample of UK lenders and aims to help lenders better identify and support customers in vulnerable situations during such credit applications.
In conjunction with the guide for debt collection, this new report provides insights on vulnerability from across the credit cycle, which is something that we as MALG are striving to do by bringing together all the ‘threads’ of the customer journey. We’re also very pleased to announce that Chris Fitch will be delivering a very special workshop at the MALG Conference in November 2017. Read his speaker profile here.