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In this podcast episode, Paul Sweeney and Cormac O'Neill discuss recent news and trends in the credit industry. They touch upon topics such as the rate of delinquencies in January, the increase in demand for debt advice, the rising costs of living, and the adoption of AI in the contact center market. They also highlight the concern of deep fakes and cheap fakes in financial services, as well as the need for organizations to address security and compliance implications when using AI.
January is often perceived as a longer month due to the post-holiday financial strain, but the rate of delinquencies in loans and other financial obligations appears to be better than expected.
There has been an increase in demand for debt advice, with many individuals seeking assistance with issues such as scams, debt relief orders, and bankruptcy.
A report by Pepper Advantage shows a significant increase in arrears across residential m...
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