AI versus human expertise: Why authentic content wins in consumer credit

Published 24 May 2025

The digital space is where consumer credit providers win or lose. In the race to optimise websites, many turn to AI-powered content tools. These promise quick SEO gains and effortless content creation, but relying solely on AI can be a costly mistake. Here’s why human expertise remains crucial for building trust and engagement.

Technology and ethics: Delivering stability in a rising tide of unsecured debt

Published 24 May 2025

Unsecured debt in the UK reached an average of £4,287 per adult in 2024, marking a troubling trend as household debt has steadily risen over the past two decades. With household debt now exceeding £2 trillion, its impact extends beyond finances, deeply entwining with mental health challenges.

An ongoing commitment to ESG: Equifax publishes 2024 ESG Report

Published 24 May 2025

Equifax launched its second annual Environmental, Social & Governance (ESG) report in February, highlighting the continued importance as part of its business strategy.

Firing on all cylinders: Embrace open banking for operational efficiency

Published 23 May 2025

For many lenders, the affordability assessment process is still weighed down by long application forms and manual reviews from underwriters, leading to long processing times. Brandon Wallace, Product Manager at Bud, explains how enriched transaction data can help lenders to cut costs and scale efficiently, in addition to increasing approval rates and reducing risk.

Moving with the times: The future of responsible lending in a digital-first world

Published 23 May 2025

As the financial services industry transitions to a digital-first world, responsible lending must evolve to meet new expectations for fairness, transparency, and customer-centricity. Digital transformation is reshaping how lenders engage with customers and manage their portfolios, enabling more effective, data-driven lending practices that enhance both the lending and collections processes, promoting better customer outcomes while upholding financial responsibility.

Enhancing outcomes for vulnerable customers: Key considerations

Published 23 May 2025

As firms continue to assess the findings from the FCA’s review of the fair treatment of customers in vulnerable circumstances, we explore a critical challenge many firms face: effectively monitoring outcomes for vulnerable customers.

Vigilance Conference: CCTA publish event write-up

Published 23 May 2025

At the end of March we held our Vigilance Conference in central London. Delegates attended from across the CCTA membership including lenders of various sizes, brokers and associates. Addleshaw Goddard kindly hosted the event at their London offices.

Consumer Duty board reports: Top tips from Auxillias

Published 22 May 2025

Last summer we helped several clients with their Consumer Duty board reports (required under PRIN 2A.8). Since the creation of the first suite of reports, the FCA has reviewed a sample and published findings, highlighting good practices and areas for improvement. We have set out six top tips based on the FCA’s output and our own observations.

A long road ahead: Actions firms can take following the Supreme Court hearing

Published 22 May 2025

The FCA’s review into discretionary commission arrangements, together with the outcome of the Supreme Court’s review of a landmark Court of Appeal ruling regarding motor finance commissions could have widespread consequences for the motor finance sector.

Supporting vulnerable customers: FCA review highlights

Published 22 May 2025

On 7 March, the FCA published their findings into a review of firms’ treatment of customers in vulnerable circumstances, including their consumer research and examples of good and poor practices. It is clear that vulnerable customers remain a top priority for the regulator, and rightly so. They should be a priority for firms too.

The rise of alternative data: Enabling financial inclusion and catalysing growth

Published 22 May 2025

The landscape of consumer lending is undergoing a significant transformation. Traditionally, lenders have relied on credit scores and historical financial data to assess a borrower’s creditworthiness. However, as financial behaviours evolve and the limitations of conventional credit assessments become apparent, the role of alternative data in lending decisions is gaining prominence.

Cultivating relationships: Introducing your new Membership Manager

Published 22 May 2025

I’m delighted to introduce myself as the new Membership Manager at the Consumer Credit Trade Association (CCTA). It’s an exciting time to join the organisation, and I’m eager to connect with all of you – our valued members – to ensure that you receive the best possible support, insights, and services that CCTA has to offer.