DEMSA update: DEMSA update: Credit Union & Community Banking / AI / Customer Service week / Economic Abuse / Collaborations / Training / Events

In today’s bulletin

General updateReflections on recent events video with Chris Warburton – must watchCredit Union and Community Banking event on 12 December 2023Economic Abuse – vulnerability management ‘hot topic’National Customer Services Week - AI and automationCollaborationsEventsVulnerability Management and Consumer Duty training

General update

We are beginning to see evidence of food prices beginning to fall. We are also seeing continued evidence of house prices falling, which will not be good news for homeowners with rising interest rates. About 400,000 borrowers are on fixed-rate deals that are due to finish before the end of this year, with 1.6m on deals expiring next year. Analysts at Oxford Economics say total debt repayments in 2024 are typically set to take up almost four times as much of households' budgets as they did in 2021. That is alarming for some customer segments.

Richard Lane, Director of External Affairs at StepChange Debt Charity, said on 29 Septe...

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