Treating Customers Fairly

How can lenders manage risk, make the best decisions to maximise commercial opportunities all whilst honouring regulations to ensure customers are treated fairly?  What does ‘treating customers fairly’ look like in online lending methods and tools?


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Vulnerability – How Effective Are Digital Customer Journeys?

What we learned from the FCA Sandbox.  Read our latest article today…

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Please note: The insights provided in this section are commonly republished from third-party sources. Articles are the exclusive opinions of the authors. PrinSIX Technologies Ltd accepts no liability for their accuracy or for any consequential impacts of any actions resulting from the use of this information.

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Our Analysis


Optimising both regulatory and commercial objectives is hard

Lenders’ main objectives are – to lend responsibly and lend profitably

Delivering both can be done, but is challenging. Success is determined by the customer onboarding journey.

Journeys must balance the need for speed with the need for insight.  Journeys that understand a customers’ total commercial value as well as potential vulnerability and regulatory risk. 

The primary tension between commercial and regulatory objectives is conversion. Long journeys don’t convert as well as short ones, but short journeys reduce understanding, elevating regulatory risk.  Journeys must be only as long as necessary.  That’s why ‘one size fits all isn’t good enough any more. 

How PrinSIX can help

Onboarding today is inadequate to manage these challenges.  

Our SaaS platform equips organisations to create dynamic, personalised, agile onboarding journeys – one applicant at a time.  

Facts about Lending Risk

1. The average amount of unsecured debt for the average person in the UK in 2019 was £9,034 for a personal loan. (Statista)

2. The average amount of unsecured debt for the average person in the UK in 2019 was £7,635 for a credit card. (Statista)

3. Mortgage borrowing rose by a net 11.8 billion pounds ($16.4 billion) in March 2021. (Reuters)

4. Credit risk has increased. For example, loss reserves as a percentage of total loans were at 2.19 at the end of Q2 2020; compared to 1.15 at the end of Q4 2019. (Forbes)

5. Nearly three-quarters of people who borrow money from friends or family never pay the loan back in full. (Forbes)