Growing numbers of customers, and businesses, are more financially vulnerable than ever.

The withdrawal of COVID-related government financial support, along with the combination of high inflation and rising interest rates, is putting millions into debt and placing significant financial strain on society and business.

Many are finding themselves vulnerable for the first time, with those already in vulnerable situations being more squeezed than ever. This is bad for society and bad for business; no-one wins where debt is concerned.

Businesses must look beyond macro trends, understand their customer's circumstance and adapt their strategies to proactively identify and support the financially vulnerable.

By embracing a customer-led approach making better use of data and technology, they can bring a differentiated level of support and service to their customers. And by preventing debt now, businesses can avoid spiralling costs, reputational risk and existential threat.

Loyalty and trust have never been more important. At Baringa, we are working with our clients to support their customers when they need them most​.

Financial vulnerability can affect everyone

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