Weekly roundup: 18 Sept 2020
This week we have been talking quite a bit around digital processing and how this can help with the expected wave of economic stress.
The accepted timeframe for this is still around October, and not only in the UK, but in other markets too. If you look closely at the data some of the early signs are there already too.
This graph from the BBC is a good example. You can start to see redundancy notifications already spiking… with the impact waiting to come through.
Digital and digital processing certainly still seems like the hot topic, especially to help with this volume…. 66% of firms are looking to increase automation was reported this week too.
More news on credit cards this week, with a UK Finance report on card spending. One interesting bullet was that consumers seem to be paying off their balances faster than they are spending and building them new ones… this is an interesting dynamic for the industry, one which will need they will need to adjust for if sustained.
Lastly, there were new rumors swirling of to BoE thinking about negative interest rates. Definitely one to stay close to and think about.
Have a good weekend everyone…. @chris_w_tweet