Strategies to Assist your Customer's Impending Hardship

COVID-19 has caused significant uncertainty and volatility in the financial markets as normal economic activity has been suspended for a to-be-determined length of time in order to slow the spread of the virus. Governments have responded by introducing a series of measures in order to provide financial assistance and improve availability of credit. The Australian and New Zealand banking systems need to respond to this sudden change in market conditions to ensure:

• Financial welfare of customers
• That commercial objectives are supported
• That legislative and compliance standards are maintained
• The operational requirements are met

FICO has been working with our clients to process this information and data to answer questions like:

• How do you manager your SME’s and Customers’ credit risk when their cashflows have collapsed?
• How can I proactively work with my customers who are in hardship to restructure their loans to get them back on their feet faster?
• What happens to my portfolio once the payment holidays conclude?

Join our experts as they draw upon FICO’s past global experience and tools available today to tactically and strategically create meaningful strategies to improve portfolio quality in the near term, as well as in the aftermath of this crisis.