Podcast ¦ Credit Shift: News Update How AI is Disrupting Traditional Industries AI’s Role in Transforming Financial Services

Access the full podcast series here

Key Takeaways

The credit industry is undergoing a significant shift towards the integration of AI and digitalisation, becoming a major topic at conferences and among financial services firms.
Younger generations exhibit considerable trust in buy now, pay later (BNPL) services, indicating a notable change in consumer confidence compared to traditional banking institutions.
The UK government is tackling the issue of late payments affecting small businesses, which costs around £22,000 annually and contributes to company closures.
There is growing concern regarding young consumers' reliance on BNPL services for essential purchases, such as groceries, highlighting potential financial instability.
A stark contrast exists between the advertised zero-interest rates of BNPL services and the significant costs incurred through late fees, which can burden consumers if payments are missed.
The BNPL market is projected to grow at a compound annual growth rate...

Access this content for FREE by signing up for ROAR Membership.

Join with a Basic (free) or Plus membership (for extra features).

Create an account by clicking here or if you have an account sign in below.