Consumer Lenders’ Plans for Navigating the Next Normal

Lenders must remain vigilant as the economy begins to open back up and credit demand increases.

Boston, May 11, 2021 –Like everyone in the financial services industry, consumer lenders have had a whirlwind of a year. While they first anticipated soaring delinquency rates, they experienced a far more measured performance of their loan portfolios while demand surged for certain types of loans and waned for others. As the economy gradually reopens, consumer lenders are assessing where they are and looking to the future. Managing credit risk while providing a good customer experience is top of mind for lenders that want to grow in this highly competitive market.

This Impact Report, the second in a three-part series from a Q4 2020 and Q1 2021 survey of consumer lenders, looks at the trends impacting consumer credit demand today and how the market will likely evolve over the next year. Aite Group surveyed executives at 22 depository and nondepository institutions headquartered in North America in Q4 2020 and Q1 2021 to form the basis of this report.

This 23-page Impact Report contains 17 figures and one table. Clients of Aite Group’s Retail Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.

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