Identifying Financially Vulnerable Customers

DATA ON DEMAND | IDENTIFYING VULNERABILITY

Sadly, the impact of COVID 19 will drastically affect UK employment rates and this will increase the number of financially vulnerable customers. Many Individuals will be unable to maintain consumer finance commitments and pay everyday bills.

IdVu highlights emerging consumer vulnerability.

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

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

How it works

How can IdVu help your business?

Identify

Identify clusters of customers who are highly vulnerable right now.

Monitor

Monitor customers to highlight changes that can cause higher vulnerability.

 

The benefits of using IdVu 

Predictive Information

Predictive information for Board Level Executives to make informed, strategic decisions.

Data

Data to help prevent new customer debt or increasing customer debt.

Strategy

Strategy to enable a customer-centric approach to create happy customers and fair treatment of vulnerable consumers.

Alerts

Alerts to monitor changes in the status or behaviour of you customers who become vulnerable

Data Volumes

 

2m Employment Updates

3.4m Financial Insights

4.1m Loan Applications

 

Monthly Updates

 

500,000+ Monthly New Loan Applications

350,000+ Monthly Financial Updates

 

Debt Events and Vulnerability

 

Vulnerabilities rarely remain static and often emerge as a change in personal circumstances. 

Identifying the early signs of vulnerability using Debt Events enables cost-saving, preventative action.

IdVu enables our users to identity Debt Events including:

 

– Financial Stress

– Bereavement

– Relationship-break up

– Home movers 

– Empty nesting

– Retirement