The cost of living crisis continues to bite in the UK, data from the recent FCA Financial Lives Survey identified that 5.6 million UK adults missed a payment on a domestic bill or credit commitment in January 2023 (these numbers are likely to be even bigger now).
It is clear that firms need to ensure their arrears and collections functions are prepared and can support customers through an extremely difficult period. Doing so well is quite challenging.
We have written an article to explore the six challenges that firm are most likely to be facing over the next twelve months and also provided insights on how these can be addressed and opportunities arising from doing it well.
Download the full version of the article here.
