On this week’s episode of News & Views, The Fintech Times Podcast team speak about TransUnion revealing firms are still battling against first-party fraud & Gen Z increasingly borrowing to survive, with many relying on loans from the ‘bank of mum and dad’.
Polly kicked off the conversation this week by exploring how lenders are approaching the next generation and their demands. While digital is here to stay both Polly and Francis discuss how they were brought up in households that were sceptical about trusting what you saw online. Subsequently, they agreed it made sense that Gen Z doesn’t necessarily trust financial advice from social media or influencers, and has a reliance on their parents.
Following this, the conversation moved on to the topic of fraud. While neither of the podcast team members was surprised that young people were more open to the idea of committing first-party fraud, one reason given for this was the attitude businesses have toward getting new customers, rather than tailoring offers to existing ones.
Listen to News & Views Podcast on your favourite platform:
And don’t forget to check out the articles discussed below:
Gen Z Borrowing to Survive: Lenvi Reveals Lessons for Lenders to Engage a Younger Audience
Combatting First-Party Fraud: TransUnion Reveals Younger Generations are Committing More Fraud
