LONDON, May 18, 2022 /PRNewswire/ Widespread work-from-home started as an adaptation to COVID-19 but is here to stay. In Auriemma Group's recent roundtable meetings financial institutions
LONDON, May 11, 2022 /PRNewswire/ Absence and attrition rates are on the rise for front-line agents working in financial services. Mental health concerns are a primary driver, forcing financial
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4 Payment Trends that Emerged in the Shadow of COVID-19
LONDON, May 20, 2021 /PRNewswire/ COVID-19 has brought about many changes in consumer behaviour and issuer offerings. Auriemma Group s 2020 Cardbeat UK Trend Report identified four areas where shifts were most prominent, highlighting the impact that the pandemic has had on the payment s ecosystem for both financial institutions and cardholders alike.
1. New card acquisition, spend amounts and card usage have declined.
Cardholders were less engaged with their existing products and fewer sought new products compared to prior years. According to Auriemma s research, new card acquisition dropped nearly 50%, with only 10% of UK credit cardholders in Q4-20 saying they acquired a new credit card in the past 18 months, down from 18% the same time the year prior.
Challenging Transition Ahead for Lenders as HMT Breathing Space and Payment-Holiday Conclusions Near
LONDON, May 4, 2021 /PRNewswire/ Collections Departments faced unprecedented challenges throughout the COVID-19 pandemic, from embracing remote working to managing significant payment holiday volumes. And now, they must take action on HMT Breathing Space while transitioning from payment holidays. Auriemma Group s Collections and Recoveries Roundtable has been discussing these events and their corresponding strategies amongst the UK s top financial institutions. These two deadlines are quickly approaching, and along with the unpredictable macroeconomic environment, lenders must leverage learnings from the last year to prepare for the likely spike in volume ahead.