Monday, 22 June
Humbli
Amid rising living costs, increasing household debt, and growing wealth inequality, financial stress has in effect become the norm for an unprecedented number of Australian households. For financial institutions, providing effective financial hardship support is both a social responsibility and a strategic imperative, offering tangible benefits in customer wellbeing and trust, risk mitigation, operational efficiency, and bottom-line impact.
Providing support at the early stages of financial difficulty can improve customer outcomes while reducing service costs, improving employee engagement, and increasing positive brand sentiment. It requires moving beyond traditional reactive measures to embrace proactive, empathetic, and empowering strategies.