[LINKS]: Links of the week

See all the links and our weekly headline roundup here.

  1. Financial Consumer Agency of Canada Addresses Mortgage Payment Difficulties
    The agency expects banks to offer tailored support to individuals at risk of mortgage default, including access to mortgage relief measures.
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  2. Design Considerations for Dyscalculia and Low Numeracy
    Strategies are being discussed to aid people with dyscalculia and low numeracy skills, focusing on practical aspects like handling money and time management.
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  3. Borrowers in Financial Difficulty (BiFD) Project Addresses Payment Challenges During Pandemic
    The UK’s Financial Conduct Authority emphasizes the importance of the Tailored Support Guidance for mortgages, consumer credit, and overdrafts in supporting customers.
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  4. Study Reveals Efficacy of Behavioral Messaging in Reducing Loan Delinquency
    Research with a Colombian bank shows that text message reminders can effectively reduce loan delinquency, especially when referencing social norms or targeting higher socioeconomic individuals.
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  5. Commonwealth Bank Leverages AI to Detect Abusive Payments
    The bank is utilizing artificial intelligence to identify and prevent abusive transactions.
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  6. AperiData’s Credit Console Enhances Loan Access for HEY Credit Union Customers
    AperiData’s open banking data and credit reference capabilities are being used to facilitate informed lending decisions.
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  7. AI’s Role in Improving Financial Services for People with Disabilities
    The focus is on enhancing the digital financial experience for people with disabilities, going beyond minimal compliance with ADA and WCAG standards.
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  8. UK Financial Services Firms Pilot Generative AI for Efficiency
    A UK Finance survey reveals that most UK financial services firms are experimenting with generative AI to improve employee productivity.
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  9. Klarna Secures UK Approval for Credit and Payment Products
    Following Brexit, Klarna has obtained authorization to continue offering regulated services in the UK.
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  10. Energy Price Cap Rise: A Challenge for Households with Energy Debts
    The increase in the energy price cap exacerbates the difficulties for households already struggling with unaffordable energy debts.
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  11. UK CEOs Increasing Investments in AI Technology
    CEOs are focusing on AI technology to gain productivity and competitive advantages, despite challenges in AI strategy development and implementation.
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  12. Shell Energy Penalized for Failing to Notify Customers of Contract Ends
    Shell Energy faced a fine for not sending mandatory end-of-contract and best tariff notifications to some customers, violating Ofcom rules.
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  13. Misconceptions Around BNPL (Buy Now Pay Later) Leading to Debt
    A significant portion of adults, particularly younger demographics, are unaware of the potential debt implications of BNPL services.
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  14. Credit & Collections Technology Awards Announce 2023 Winners
    The awards celebrate technological innovations in credit and collections, recognizing outstanding achievements in various categories.
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  15. Google’s Alphabet in Talks to Invest in UK Challenger Bank Monzo
    Alphabet, Google’s parent company, is negotiating a significant stake in Monzo, a UK-based digital bank.
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  16. FCAC’s Expectations for Banks to Support Clients in Mortgage Distress
    The Financial Consumer Agency of Canada anticipates banks to proactively offer tailored mortgage relief based on individual financial needs and circumstances.
    Read more
  17. Designing for Dyscalculia: Addressing Challenges in Numeracy
    Efforts are being made to assist individuals with dyscalculia, addressing difficulties in managing time and understanding numerical concepts.
    Read more
  18. FCA Stresses Tailored Support for Borrowers Amid COVID-19
    The UK’s FCA emphasizes tailored guidance for lenders to support customers facing payment difficulties due to the pandemic.
    Read more
  19. Behavioral Messaging as a Tool to Reduce Loan Delinquency
    A study demonstrates the effectiveness of text-based reminders in reducing loan delinquency, particularly among certain borrower demographics.
    Read more
  20. Commonwealth Bank Implements AI to Prevent Abusive Financial Transactions
    The bank is adopting artificial intelligence technologies to enhance security and prevent abusive financial activities.
    Read more
See also  LINKS ¦ Stories this week

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