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Banking and Finance White Paper

Today we publish the first in a new series of sector-specific white papers, with in-depth commentary on the challenges facing today's businesses and their customers in today’s economic environment.

Banks and finance businesses must tread a thin line in 2023, supporting their customers through tough times while managing their own risk exposure and seeking out new opportunities for growth. The paper was released 17 March 2023 and is the first of three key industry papers.

In the white paper, we highlight key themes that will dominate the sector across Europe this year and offer thoughts on how it can meet these challenges:

  • Customers struggling to understand and cope with high inflation
  • Poor financial literacy affecting bad debt management
  • Ongoing gender disparity in finance

With inflation high and consumers struggling to make ends meet, two in three banks and financial businesses are concerned about rising defaults on debt repayments this year and a similar number expect customers to find it hard to pay on time and in full.

However, there is much they can do to help – from adopting better communications to boosting financial literacy and enhancing digital solutions.

2022 was a very strong year for the banking and finance industry, mainly thanks to the sharp rise in net interest income driven by tightening of the monetary policies, while the quality of banks’ assets has remained strong.
Anna Zabrodzka-Averianov, Senior Economist, Intrum