Alison Walters – director of consumer finance at the FCA – has delivered a speech on the future of the credit market at a Credit Week: Powering the Future of Finance event.
The speech noted that a more resilient, collaborative and trusted market can only be achieved by collective action across industry participants, regulators and partners. Walters call for firms to go byond avoiding harm, towards actively delivering better outcomes using data, technology and insight to support consumer in practice.
Walters also noted that bringing Buy Now Pay Later within the regulatory perimeter will better protect consumers and support more sustainable borrowing.