Equifax Report
The whitepaper delves into the evolution of debt resolution in a digital age, focusing on the integration of data-driven technologies to better manage consumer debt. It highlights the pressing need for creditors to adapt to digital platforms in response to changing consumer preferences and the increasing pressures of financial compliance and the cost of living crisis.
Key Points
Digital Preference: A significant portion of consumers prefer handling their debt online, aligning debt management with daily digital activities.
Technological Integration: Consumers use technology extensively in daily activities like banking and shopping, indicating a readiness for digital debt resolution tools.
Digital Platforms by Equifax: Equifax has developed a mobile platform that integrates debt resolution into everyday digital routines, making it more intuitive and engaging.
Consumer Expectations: The shift towards digital-first lifestyles has elevated consumer expectations for digital ...
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