The cost of living crisis – are consumers losing hope?
As consumers struggle to control their finances in a high inflation and interest rate environment, evidence suggests attitudes to late payment are shifting.
Consumer spending teetering on the edge
European consumers are living month to month, with many having worked through their savings buffers and struggling to make ends meet in the difficult economic climate.
Failing to measure up in financial literacy
When it comes to improving consumer outcomes, raising levels of financial literacy could have a substantial effect on financial management and wellbeing.
Consumers find skipping bills more acceptable
Social norms around payments are changing as consumers struggle to pay their bills, according to the latest research by credit management group Intrum.
Dignity in debt – breaking free from financial difficulties
Ethical collection practices are crucial not only in facilitating individuals' reintegration into the financial system but also in contributing to the overall health of the economy.
Rainy days are here: consumers use savings to survive the cost-of-living crisis
Many people have been falling back on their savings to keep afloat in difficult financial times. With savings pots depleted, rebuilding these buffers is needed to protect them from future shocks.
Non-performing loans – the intracontinental differences
Economic differences across Europe are reflected in non-performing loan volumes, with southern Europe harder hit than the north. However, banks may still be vulnerable to new waves of NPLs.
Non-performing loans – reducing the burden
Since European non-performing loans peaked at EUR 1.2 trillion in 2015, banks and regulators have worked hard to reduce the burden. However, the pandemic led to a rise in lending and a need to redouble efforts.
Ophelos in focus: Leveraging AI & technology to meet client and customer demands
Being confronted by unsolved debts can be both stressful and challenging. Ophelos is simplifying the situation with an AI-driven digital platform that grants customers a stronger sense of control and creditors with a deeper level of insight. Intrum is delighted to announce the finalisation of the acquisition of Ophelos, the next step in creating the industry’s best operating platform.