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Consumer Attitudes towards Credit Products - UK - July 2018

Consumer Attitudes towards Credit Products - UK - July 2018

“Slower annual growth in lending signals a fall in demand, as concern around the potential impact of rising interest rates grows. But, affordability constraints will still make it difficult for many people to clear their debt and significantly reduce their borrowing. Open Banking gives lenders an opportunity to develop tools and services that can help people manage their debt more effectively and find products most suitable to their needs.”

– Jessica Galletley, Senior Financial Services Analyst

This report examines the following issues:

Credit management innovations will appeal to the anxious borrower
Interest rate concerns see a significant fall in appetite for credit
Open Banking will give newer players more of an edge

TOC available on request

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