ROAR Insights

Link Description The document “Pepper Arrears Report” provides an analysis of trends in UK residential mortgage arrears, with a focus on the dynamics between the residential and Buy-to-Let (BTL) sectors. It covers the improvement in arrears rates in various regions, the continued growth in BTL arrears, and a rebound in new mortgage originations. The report also highlights the uneven nature of recovery in the UK mortgage market, indicating that while some areas are improving, many borrowers continue to face financial… Read more

Link Description The document “Why Agents Are the Next Frontier of Generative AI” discusses the evolving role of generative AI (gen AI), specifically focusing on AI-enabled agents that can handle complex workflows independently. It explores how AI agents will transition from knowledge-based systems to action-based solutions, capable of completing multistep tasks across digital platforms. The report outlines the potential benefits of AI agents for enhancing productivity, collaboration, and innovation across industries, while addressing the challenges and risks involved in adopting… Read more

Link Description The “2024 IT Risk and Compliance Benchmark Report” provides a detailed analysis of the evolving governance, risk, and compliance (GRC) landscape, focusing on how organisations are managing IT risks and compliance challenges. It discusses trends such as the unification of risk and compliance functions, the impact of artificial intelligence (AI) on risk management, and the shift toward integrated, automated GRC tools. The report also highlights how companies are navigating increasing regulatory scrutiny, cybersecurity risks, and the adoption of… Read more

Link Key Take Aways Labour market easing: The July 2024 jobs report shows job creation falling below expectations, with rising unemployment.Credit union delinquency: Delinquency rates for credit unions have risen significantly, particularly 90+ days past due.Delinquency trends stabilising: Growth in delinquency for certain products, such as bank cards and personal loans, appears to be slowing.Impact of economic conditions: Loans originated in 2023 are performing worse than those from previous years, suggesting a link to broader economic challenges.Risk segmentation tools: Experian… Read more

Once again it was great to host the latest Credit Connect Technology Think Tank. There was some really insightful discussion and ideas this time around. For similar summaries and updates subscribe to the RO-AR.com newsletter. Session 1: Collections Communications and Engagement Key Takeaways Transition towards digital-first customer engagement strategies in collections.Emphasis on customer control over engagement and account management.Integration of open banking faces challenges in consumer trust.Shift from outbound calling to more efficient digital communication methods.Importance of personalization in customer… Read more

Bank of England Summary The document details the UK’s financial sector’s strategy for transforming data collection processes, aiming for efficiency and integration across different domains and jurisdictions. The plan developed through extensive consultations outlines the need for common data standards, modern reporting instructions, and integrated data handling to streamline reporting and reduce burdens on the financial industry. Key Points Purpose and Context: The document outlines a strategic vision for data collection transformation in the UK financial sector, emphasizing the need… Read more