1 month ago
Business Leader
As the cost-of-living crisis continues, new research from the European open banking platform, Tink, paints a stark picture of financial realities in the UK. Findings reveal almost half (46%) of people in the UK are ‘only just managing’, where they expect their income not to cover their essential spending in the future. A further one in four (23%) are identified as ‘financially vulnerable’, with their current income already no longer covering their essential spending. Here, banks can find ways to support these customers and build their confidence in transitioning to managing their finances digitally, while highlighting the benefits of personalised financial tools. “With tailored support, tools, and communications, banks can help people better manage their finances during difficult economic times, and avoid future financial hardship.”
Continue reading...
