Sadly, the impact of COVID 19 will drastically affect UK employment rates and this will create many more financially vulnerable customers who are unable to make or keep up with consumer finance commitments and regular household bill payments.

IdVu highlights emerging consumer vulnerability by utilising data from millions of short-term, high cost loan applications to identify Debt Events from existing triggers or sudden changes in personal circumstances.

Applying insights from IdVu identifies Debt Events and enables a business to identify and address the risk within their customer base in order to take preventative action and to monitor customers to identify changing financial behaviour that can identify Debt Events.

Initial identification and then continued monitoring of Debt Events which lead to vulnerability are the key to reducing customer delinquency and over indebtedness.