- Voluntary industry commitment on service information for customers launched
- Partnership invests $20m into KuCoin to bring cryptocurrency to the masses
- New loan marketplace launches with actual APR comparison pledge
- Banks share assessment on emerging opportunities for digital transformation in cross-border payments
- BNY Mellon appointed depositary bank by NLB in Slovenia
- NatWest research reveals 62% of Brits use apps to save time and money
- There will always be an arms race in the payments space, says Entersekt expired
- RBS offers freeze for cards to reduce unnecessary cancellations expired
- TSB announces Debbie Crosbie as new CEO expired
- Basel Committee publishes more details on global systemically important banks expired
- One in three working Scots face savings shortfall, finds BoS expired
- Santander backs German credit scoring and personal finance app Bonify expired
10th July 2018
Callcredit comment: "Slight rise in disposable income of UK households is good news for consumers"
Commenting on the "Alternative measures of UK households' income and saving: January to March 2018 statistical bulletin", Steve McNicholas, Managing Director–Credit and Marketing Data, Callcredit Information Group, comments “The slight rise in disposable income of UK households is good news for consumers, giving them more flexibility when it comes to making ends meet. With inflation rates stabilising and interest rates remaining the same(for now), as well as record employment rates, UK consumers are experiencing a respite from the challenging financial environment of previous months.
But in order to maintain this positive trend and avoid further strain on consumer finances, lenders must ensure they are using robust data to assess a borrower’s affordability. It’s about understanding the whole picture by spotting and acting early on warning signs. This will not only prevent borrowers from overextending themselves financially but it will ultimately better protect and future-proof our economy.”