Fixing Credit Losses with 360 Data

With S&P forecasting that credit losses will remain twice as high as pre-pandemic levels in 2021 in Western Europe, many financial institutions are dusting themselves off from the crisis and re-evaluating their credit risk. Recession, unemployment and rising taxes will all play their part to make it much more difficult, and much more important, to make good credit decisions.

This is set against a background of increasing pressure on customer experience. Customers expect fast, even real-time, decisions that reflect their personal financial situation. This is putting pressure on banks to tap into all the available sources of first and third-party data to make the right decision for the right customer and at the right time.

In this report, created by Change Makers, we explore the need to balance the competing pressures of credit risk, customer experience and regulation based upon interviews with a group of senior banking executives.