Monevo Newsletter
Stay on top of global developments in the fintech industry with our newsletter. Bringing our expert insights and updates straight to your inbox.
From Monevo:
Tesco Bank has partnered with Monevo
Tesco Bank has partnered with Monevo to provide more inclusive lending options!??“At Tesco Bank, we’re committed to improving access to credit for customers. ?? We’re delighted therefore to be partnering with Monevo to help customers find an alternative loan provider when we can't help them.” — Hollie Glover, Head of Propositions at Tesco Bank
Monevo Data Newsletter
In this Email Newsletter, we examine the current state of consumer credit in the UK. Monevo's data sheds light on the challenges faced by consumers on lower incomes, highlighting ongoing financial inclusion issues. Join us as we explore these important trends and their implications for consumers and lenders alike. Get ready for the Monevo Data Newsletter by Subscribing here.??
From the USA:
Consumers on Credit Treadmill More Likely to Turn to Nontraditional Loans
A new PYMNTS Intelligence report highlights the contrast between reward seekers, who focus on maximizing credit benefits, and credit treadmill consumers??♂???, who rely on loans for financial stability. This divide underscores how educational attainment impacts credit management strategies and borrowing behaviors.
What Does 2025 Have in Store for the Fintech Industry? | FF News at Money20/20 USA
Money20/20 USA sets the stage for fintech's shift toward real-world AI implementation?? and evolving open banking??. President Tracey Davies emphasizes the event's renewed energy and notable female representation. A major announcement for 2025 introduces a new global awards program that aims to elevate industry recognition. Learn more from FF News here.
How the USA is Emerging as a Global Fintech Powerhouse
The USA is rapidly emerging as a global leader in fintech, attracting over $50 billion in investments in 2023. Major hubs like Silicon Valley?? and New York?? are driving innovation in financial technologies. This article explores the key factors behind this booming sector and highlights the transformative trends shaping the future of financial services.
TransUnion Monthly Credit Industry Snapshot
TransUnion's Monthly Credit Industry Snapshot report provides essential insights for lenders as the lending landscape evolves.?? Covering credit cards, auto finance, mortgages, and personal loans, it dives into trends in account hardships, loan amounts, and delinquency rates. Stay informed on macroeconomic indicators ???that affect consumer credit and enhance your business strategy with this crucial data!
From the UK:
Inflation rises to 10-month high of 3% in January – consumer credit industry reaction
In this article, Credit Connect looks at how inflation has unexpectedly risen to 3% in January, the highest rate since last March, driven by soaring costs in transport??, food??, and education. Experts caution that this increase will further strain households already facing financial challenges. There are growing calls for government action to support struggling families as inflation pressures persist.
PRA Group and StepChange Advance Financial Inclusion and Consumer Resiliency in UK Parliament
PRA Group and StepChange are addressing financial inclusion and consumer resilience in the UK through a recent roundtable in the House of Lords????. The discussion focused on how changes in credit scoring can help individuals in debt access affordable financing???. Their partnership aims to create practical solutions to improve financial well-being for those facing challenges.
One in Five UK Adults Are Financially Vulnerable but Many Can’t Access Credit
Consumer research conducted by TransUnion revealed that 1 in 5 (20%) UK adults – the equivalent of 11 million people?? – would consider themselves financially vulnerable. James Robinson, managing director of consumer interactive at TransUnion UK, said: “With a fifth of UK adults considering themselves to be financially vulnerable, responsible lending is critical. Access to credit products tailored to their needs can empower financially vulnerable consumers to avoid unmanageable debt and build financial resilience.” Read the full story?? here.
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