Key topics covered in this episode include:
- The impact the pandemic had on consumer borrowing habits
- Its effect on innovation and the demand for flexible credit that is more in tune with borrower demands
- Leveraging Open Banking to support borrowers in challenging times
- Treating customers fairly
- Embedding new business practices to positively impact performance
In addition to the impact on consumers, the pandemic had a significant effect on general working practises for almost all businesses. As employees adjusted to working from home, organisations had to adapt to how they operated on a daily basis, but it also became even more important for them to focus on and address mental health issues.
Another change over the last two years was the shift in customer communication preferences. Having access 247 via self service is convenient, but many customers wanted to be able to speak to someone on the telephone. Outreach from organisations has increased trust and has contributed to brand loyalty which had changed in recent times.