Our summary findings from our recent visit to Canada, in terms of opportunities in the market.
Further economic outlook data has also been added since the report release, pointing to continued stress in the housing market, and the impact of interest rate increases this is having on consumers, with a recession likely in Q3-Q4, including an increase in unemployment.
In our view, this puts further pressure on a need for proactive engagement of customers as early as possible, in order to gather information, segment, and determine those that may need additional support as a way of proactively mitigating future risk in the portfolio. Digital contact is an option to explore to do this efficiently.
ROStrategy Canadian Market Report - Full Report
Report Summary
The UK has more prescriptive regulations compared to Canada, which relies on encouraging consumer-friendly practices rather than strict rules.
Canadian regulators may adopt best practices from other countries to enhance the collecti...
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