ROAR Plus

KEY THEMES+ ¦ DEMSA Newsletter

What you need to know this week The Bank of England reduced interest rates to 5%. Lenders report expecting higher default rates on home loans. National Debtline highlights financial struggles affecting UK adults. FSCS paid £423m in compensation in its annual report for 2023/24. New research by MaPS stresses the impact of digital money on financial education. Updates to Debt Relief Orders (DROs) now in effect. FCA webinar on Consumer Duty reviewed one year after its introduction. ICO emphasizes the… Read more

KEY THEMES+ ¦ DEMSA Newsletter

What you need to know this week Nikhil Rathi, CEO of the FCA, is set to speak at the StepChange Connected event in September 2024. The King’s Speech highlighted new legislative agendas like the Renters’ Rights Bill and a Digital Private Rented Sector Database. Open Banking users in the UK have surpassed 10 million, showcasing widespread adoption of this technology. Personal insolvency statistics for June 2024 show record highs in DROs, reaching 4,383 cases. There's a call for information on… Read more

KEY THEMES+ ¦ DEMSA Newsletter

What you need to know this week Bank of England may cut interest rates at its next meeting on 1 August 2024. Aryza has acquired IVA Watch Limited (t/a Watch Portfolio Management) as of early July 2024. The FCA has published its pay gap report for 2024, indicating a positive trend over the past three years. A Gartner survey revealed strong consumer resistance to AI in customer service, highlighting the preference for human interactions. The Debt Advice Handbook Scotland has… Read more

KEY THEMES+ ¦ DEMSA Newsletter

What you need to know this week UK General election has happened and will impact economic forecasts. Net consumer credit borrowing increased to £1.5 billion in May 2024. Credit card borrowing increased by £0.6 billion in one month. Other forms of credit, including personal loans and car finance, rose by £0.3 billion. DEMSA supports new FOS proposals affecting claims management firms. 52% of voters are pessimistic about improvements in living standards post-election. Ofgem reports energy debts have escalated to £3.3… Read more

KEY THEMES+ ¦ DEMSA Newsletter

What you need to know this week Major UK high street banks have resolved their recent payment issues. The UK economy grew by 0.7% in the first quarter of 2024. Council tax arrears in England have reached £6.2 billion. 36% of National Debtline callers in May had energy debts. StepChange reported a 12% decrease in clients accessing full debt advice in May 2024 compared to May 2023. The threshold for Debt Relief Orders (DROs) increased from £30,000 to £50,000, and… Read more

UK Energy Market – Collections Process – June 2024

Just updated the research from feedback on the UK energy market and the collections process. This covers all key residential suppliers in the UK market and collections associated feedback up to June 2024. A couple of key themes remain KEY THEMES Poor Customer Service Instances of rude customer service representatives hanging up on customers without warning. Ineffective escalation processes, with repeated promises of callbacks that are not fulfilled. Customers experiencing significant frustration due to being passed between departments without resolution.… Read more