Portfolio reviews are a valuable tool for financial institutions to monitor, manage, and act upon credit risk to enhance overall returns. Beyond this, there is an opportunity to protect against attrition, build loyalty and stimulate business growth by addressing account shifts. To reach these goals, it is essential to understand consumer behavior fluctuation, economic trends and the dynamics of growth to help create more effective credit risk management strategies.
Regularly observing changes in individual accounts provides the ability to proactively assess trends in order to manage accordingly. Check out this infographic to see statistics on consumer credit changes that have occurred within the last few years.
To read more about consumer trends and data points that could impact your portfolio, download the Trending Up insight guide now.