In all likelihood, I will be out on the road next week. This will be the first time in over a year workwise, and I am really looking forward to it. It should be different and a refreshing change, I hope.

What this does mean is that I now need to get ready. It is going to be shirts not shorts, an early start on the road and I will, of course, need a bag or two.

There has not been much need for my laptop bag the last year. It is not that it has not been opened, it has, but for much of the year it has sat in the corner of the room, pretty much acting as laptop storage. But now, with it needing to be back in use a spring clean was needed and it was like walking back in time to our prepandemic life.

All the accoutrements, and detritus, of road warrior life were still there.

• The backup battery power pack – now flat
• 5 USB (micro B) cables – no idea what I used these for
• 3 headsets – different colours, and
• various assorted plastic bags – which seem to have previously lost their way to the bottom of the bag!

And, then there were the pointers to life pre-lockdown.

The old business cards, handwritten notes from meetings just before lockdown and of course the lemsip/cough sweets, trying to ward off that ‘cold’ we all seemed to have before we really knew about COVID.

Tidying up can sometimes be cathartic and sometimes reflective. A lot has happened over the last year. It will be interesting to see what has changed this week…

Other stories this week

Updates to the IVA protocol and DRO eligibility criteria were released. A widening of eligibility (DRO) to help more people get out of problem debt.

Significantly reduced impairment charges. Santander appeared to stand out, with the most significant drops in impairment reserve requirements, however, the pattern was also repeated across the rest of the banking sector too. It seems, maybe, that COVID has not been quite the disaster on lending payments as first expected back in 2020. Some of this is undoubtedly due to lower lending (pent-up demand?) and also hope this is a sign that things are looking up too. (It is also of course good expectation management on the banks’ behalf too).

Blockchain going mainstream. Increasingly, it seems, governments are becoming interested in blockchain and creating their own. More and more it feels like it is reaching a critical point for mainstream adoption. This is despite all fun and games around dogecoin and bitcoin this last week or so.

Lastly, with the news of sub-prime, near-prime lenders closing operations, you wonder how much fin-tech, and use of data to search for low risk can help customers find funding at low rates. JP Morgan is launching a credit card for people with no credit scores and data can be used to really personalize loans. The world of data, it seems, could change things a lot. It is one to watch developments closely.

Have a good weekend everyone…

There were a couple of interesting developments this week all set against a continued gradual improvement and stabilization of the pandemic in Europe.

There was a change, returning to the office, it is now starting to seem real. Conversations are now definitely starting to take on a more serious and deliberate tone.

Even I have the prospect of an in-person meeting in a few week’s time. I am not sure if I feel excited or concerned about the prospect of being back, with some risk… it does still, seem like there is a lot of uncertainty.

As discussed before it does seem likely we will evolve to some sort of hybrid model. People are clearly thinking about it and increasingly there are good articles being released exploring how to make the best of it.

• What Mix of WFH and Office Time Is Right for You?
• How to Nail a Hybrid Presentation

The second article here in particular I thought had some tips on running hybrid meetings (some people in the room, in person, and others working remotely).

In hybrid meetings, it is more important than ever that remote participants turn their cameras on in order to show their full presence. It is also critical that the presenter be able to engage visually with the entire audience, not just with those in the room.

To level the playing field even further, consider asking in-person participants to bring their laptops and turn their cameras on, keeping themselves on mute when not talking. It can also be helpful to have a screen in front of the room so that remote participants can be seen by everyone.

HBR: How to Nail a Hybrid Presentation

Above all, it seems virtual meetings have forced us to be focused and short in presentations and meetings. This sounds like this is something we all would want to also carry forward too.

Virtual Meetings

Yet, with Zoom fatigue setting in we also seem to be searching for new ways to reinvigorate online interaction. From funky to slick it seems like there is considerable innovation underway to make the most of working online.

I have been using Virbela, to some success, and it does replicate some of the in-person experience. With audio, voice and some spatial dynamics it is certainly different and a bit of fun. (I even saw the Bell Canada team used VR for their exec meeting too).

But, the elephant in the room on this is Roblox. Generally seen as a game, it already has all the modelling and interaction dynamics you need, just, at the moment, without voice. With a recent record IPO this could be about to become a heavyweight in this space too.

[I have been experimenting too… you can check out my Roblox world here, although I think this became more of an expression of what I really missed during lockdown… enjoy the cafe, beach and diving!… drop me a note if you are interested in Virbela, it is similar but more for business with voice]

Debt Collection and Recovery Business Sale

The other news this week was hidden in an earnings announcement with the decision by FICO to divest their Collections and Recoveries business. Whilst I am sure not much change in the short term, this is significant longer term for the UK market. It will undoubtedly create change and in turn, create opportunities for new and alternative providers in the market.

This whole market is very dynamic at the moment, and with lower costs of entry and now wide adoption of Software as a Service, changes and pressure will continue… it is one to watch closely.

Closure of Subprime division

Elsewhere Provident Financial also announced they would close their doorstep lending business too. This prompted several conversations online around whether borrowers, those who access this service, will now have fewer options and forced into the hands of less reputable lenders.

With high rates of interest, reflecting in all likelihood the already stretched nature of the customers financial situation, this does not sound like a good outcome. I wonder if there are options to provide better solutions for this segment of the customer base too.

Other Stories of Interest

• Under 35s keen to prove creditworthiness and share open banking data
• Inside the dark, labyrinthine, and extremely lucrative world of consumer debt
• Receeve: Why sending Collections Letters is Inefficient in 2021
• Why Use Muscle? Big Data Can Collect Debt
• Qualco: White paper on breathing space