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The Debt Dilemma: Balancing Compassion with Responsibility

In the conversation, Andrew Rabbitt argues against delaying debt collection, emphasizing the long-term consequences it can have on individuals when seeking loans, insurance, or utilities. He highlights the need for improvements in the credit sector, particularly in data reporting and interaction speed, suggesting that quicker, more user-friendly methods, such as self-service, can enhance the debt collection process and improve recovery rates compared to delayed notifications of missed payments. Find out more about incuto-> Here. #incuto

Rethinking Financial Services: Duty to Protect Consumers

In the conversation, Andrew Rabbitt discusses the need for a broader conversation about the structure of the financial services system and how mainstream banks can support organizations in the long term. He mentions the growing responsibility, driven by consumer duty and similar initiatives, for financial institutions to ensure they do not harm their customers and instead provide ongoing support. Andrew suggests exploring ways to offer more comprehensive sector-wide support for individuals in financial need. Find out more about incuto-> Here.… Read more

Balancing Convenience with Support: The Cost of Missed Opportunity

Here Andrew Rabbitt uses a scenario to illustrate a common issue. He describes a queue of ten people, where the first three simply need basic transactions like checking their balance, causing delays for those with more complex needs. Andrew highlights how this inconvenience can lead to missed opportunities when the four people at the back of the queue decide to leave, preventing the establishment of their actual needs. It is similar with operational capacity in financial services. Find out more… Read more

The Lending Dilemma: High Street Banks vs. Credit Unions

In the clip, Andrew Rabbitt discusses the importance of effectively collecting debts to prevent long-term negative consequences for individuals. He argues that not addressing debt issues promptly can impact individuals when future lenders or service providers assess their financial history. Acknowledging that the credit sector needs improvements in data reporting and accessibility, emphasizing the importance of quick and convenient interactions with borrowers, however he suggest that delaying notifications about missed payments is counterproductive and can lead to worse recovery rates.… Read more

Credit Unions vs. The Cost of Living Crisis

In the clip, Andrew Rabbitt discusses the challenges faced by the credit union and community lending sector in dealing with the long-standing issue of the cost of living crisis. They have experience in assisting individuals with income lower than their expenses. The current crisis has increased the number of people facing this situation. The primary challenge now is managing increased demand while maintaining the quality of service for existing members and customers without diminishing it. Find out more about incuto->… Read more

The Credit Union Movement: A Silent Lifeline & Untapped Potential

In the conversation, Andrew Rabbitt emphasizes the importance of the credit union sector, which describes itself as a movement. He highlights the significant disparity in credit union adoption between countries like the U.S., Ireland, and the U.K. He believes that the current scenario, while challenging, offers an opportunity for the credit union movement to engage a broader population and become more embedded in the financial system. Find out more about incuto-> Here. #incuto