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Podcast Link: Credit Shift
Summary
Paul Sweeney, co-founder and Chief Strategy Officer of Webio, explores recent trends and news in the credit industry. Key topics include UK inflation rates, mortgage sector trends, Irish household debt, the impact of FinTech on tax compliance, the decline of customer experience in the UK, and the role of AI in enhancing customer interactions.
Key Points and Ideas
UK inflation fell from 6.7% to 4.6% between September and October, yet prices remain 16% higher than in October 2021.
Residential mortgages in the UK saw an 18% increase in arrears, with 87,930 homeowner mortgages in arrears in Q3 2023.
Irish household debt declined in 2022, with disposable income now exceeding debt levels from 2007 to 2011.
A 16-backed AI-first tax autopilot aims to improve tax compliance for accounting and tax consulting firms.
Irish banks are exiting the instant payments market, overshadowed by firms like Revolut and Wise...
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