Author Archives: Jason Kemp

Why Call Centre Software with CRM Integration is a Game Changer?

Introduction

Managing customer interactions without context is frustrating for both customers and agents. Imagine a customer calls, and the agent has no access to previous conversations, purchase history, or preferences. We’ve all been there, repeating ourselves for the umpteenth time and getting frustrated. Call centre software with CRM integration solves this problem.

By connecting your contact centre with your customer relationship management system, agents get a complete view of each customer, enabling faster, more personalised support. In this blog, we’ll explore why CRM integration is crucial, key features to look for, and how Saascoms makes this process seamless.

The Problem with Siloed Customer Data

Many businesses operate with disconnected systems:

  • Call centre software manages calls, emails, and chats.
  • CRM tracks customer interactions, sales, and support history.

When these systems don’t communicate, agents spend time searching for information, leading to delays, mistakes, and unhappy customers. Integrating these systems ensures every interaction is informed, contextual, and efficient.

Benefits of CRM Integration in Call Centre Software

  1. Unified Customer Profiles
    All customer data including purchase history, previous support tickets, and preferences is accessible in one place. Agents don’t waste time switching systems.
  2. Personalised Customer Experience
    With a complete view of each customer, agents can tailor responses, recommend relevant products, and resolve issues faster.
  3. Increased Agent Productivity
    Automation and integration reduce repetitive tasks, allowing agents to focus on complex interactions, rather than ID&V or basic checks.
  4. Data-Driven Insights
    Managers can track performance, monitor customer satisfaction, and make strategic decisions based on real-time data.

Key Features to Look for in Integrated Software

  • Omnichannel Support: Manage calls, chats, emails, and social messages from one interface. Saascoms award-winning Omnireach software provides this.
  • Automation Tools: Auto-create tickets, route calls, and send follow-up reminders.
  • Advanced Reporting: Monitor customer trends, agent performance, and sales opportunities.
  • Security & Compliance: Ensure sensitive customer data is protected according to regulations.

How Saascoms Combines CRM and Contact Centre Capabilities

Saascoms Omnireach and Mailmaster software platforms can be integrated into contact centre and CRM systems using our API. Our software delivers:

  • Automatic linking of tickets to customer profiles.
  • AI suggestions for agent responses based on CRM history.
  • Unified dashboards for managers to track interactions, sales, and customer satisfaction.

The result? Faster issue resolution, happier customers, and more productive teams.

Conclusion: Improve Customer Service with Integrated Solutions

Call centre software with CRM integration isn’t just a nice-to-have, it’s a strategic advantage. Businesses that combine these tools can provide personalised, efficient support, improve agent productivity, and make data-driven decisions.

With Saascoms, integration is simple, scalable, and future-proof, helping businesses deliver the customer experiences today’s market demands.

Beat the Odds

Contact Centre Software for Small Businesses: Scale Smarter, Not Harder

Introduction

Small businesses face unique challenges in customer support: limited staff, budget constraints, and growing customer expectations. Yet, providing high-quality support is essential for customer retention and growth. Contact centre software for small businesses provides the tools to manage customer interactions efficiently without the complexity and cost of enterprise solutions.

Saascoms Omnireach is an award winning contact centre platform. It offers scalable, cloud-based digital communications that delivers professional and personalised support while keeping costs under control.

Challenges Small Businesses Face in Customer Support

  1. Limited Resources
    Small teams often juggle multiple responsibilities, leaving little time for managing support efficiently.
  2. Fragmented Communication
    Without centralised systems, calls, emails, and messages can be lost or delayed, frustrating customers.
  3. Budget Constraints
    Small businesses can’t afford expensive on-premises solutions or large IT teams to maintain software.
  4. Growth Demands
    As customer bases grow, support needs increase, requiring flexible solutions that scale without disrupting operations.

Why Small Businesses Need Contact Centre Software

Even with limited resources, small businesses can deliver big experiences by using contact centre software:

  • Centralised Communication: All customer interactions in one place for faster resolution.
  • Automation Tools: Save time on repetitive tasks like ticket creation and follow-ups.
  • Scalability: Add agents or channels as your business grows without major investments.
  • Data Insights: Understand customer behaviour, track trends, and improve decision-making.

Key Features to Look for in Small Business Software

  1. Cloud-Based Access
    No on-site servers or IT headaches, agents can work from anywhere.
  2. Omnichannel Support
    Manage phone calls, email, chat, and social media from a single interface.
  3. Easy-to-Use Interface
    Small teams need software that is intuitive and requires minimal training.
  4. Automation & AI Tools
    Automate repetitive tasks, route inquiries intelligently, and provide agents with smart suggestions.
  5. Reporting & Analytics
    Gain actionable insights to improve efficiency and customer satisfaction.

How Saascoms Helps Small Businesses Grow

Saascoms Omnireach offers a lightweight yet powerful platform tailored for all business needs:

  • Flexible Plans: Affordable subscription tiers with the ability to scale as needed.
  • Integrated Communication: Handle all channels in one unified interface.
  • AI and Automation: Reduce manual work and speed up response times.
  • Real-Time Analytics: Monitor performance and customer satisfaction without complex setups.

By leveraging Saascoms, small businesses and medium sized can compete with larger enterprises by providing professional, efficient, and personalised customer support.

Benefits for Small Businesses

  • Improved Customer Satisfaction: Quick, consistent responses keep customers happy.
  • Increased Agent Productivity: Automation reduces repetitive tasks, freeing up time for higher-value interactions.
  • Cost-Effective Scaling: Cloud-based SaaS reduces IT overhead and infrastructure costs.
  • Better Insights: Track customer behaviour and team performance to optimise support strategies.

Conclusion: Level the Playing Field with Saascoms

Saascoms award winning software includes Mailmaster, Omnireach and Resolution. All are scaleable from small to medium and large businesses. We power over 700 brands globally.

Our commercial model enables any sized business to offer industry leading contact centre software – ensuring they are competitive at every level.

Past Due Credit Solutions

Customer Case Study – Pastdue Credit Solutions

Introduction

For over 15 years Pastdue Credit Solutions has been a client of Saascoms. An FCA regulated debt collection agency and reconnection specialist. Pastdue Credit Solutions work with leading utility, telecoms and government organisations. We would like to share a recent customer case study of our work together.

Saascoms supplies two main software solutions to Pastdue Credit Solutions. Mailmaster – delivering secure digital letters and Omnireach – providing multichannel digital customer communications.

Working together we have been able to adapt our solutions to offer personalisation to Past Due Credit Solutions, in order to provide their customers with a bespoke service.

Customer Requirement 

Bespoke software development was required to comply with a UK Government policy change, with respect to email communications. Rather than conversational email, the new change required email to be delivered as a bespoke, pre-approved templated response, with additional stipulation that email history must be excluded from the conversation history. The timescale for Saascoms to make this change was six working days!

Omnireach, the conversational digital communications platform is used by Pastdue Credit Solutions for several of its clients. Bespoke development was needed to ring-fence the policy change based on the campaign. Saascoms collaborated closely with the customer to design and implement a tailored solution using Omnireach’s library response functionality, combined with enhancements to message management.

Customer Solution

Key elements of the solution included:

  • Library Response Templates:
    Pre-approved, unchangeable templates were set up within Omni Reach, ensuring compliance. Agents could still merge in customer details as needed, while the system prevented unauthorised edits.
  • Email String Removal:
    Outgoing responses using these templates were configured to exclude all prior correspondence history, meeting client specific requirements.
  • Automation via Bots:
    Bots were configured to detect UK Government client-related accounts and automatically issue the required templated responses, reducing reliance on manual handling.
  • Agent Workflow Improvements:
    From the agent’s perspective, customer messages appeared as normal, but responses were restricted to the compliant library templates, simplifying the process while ensuring adherence.

Due to the time sensitive nature of the project, development was fast-tracked. Saascoms worked in collaboration with Pastdue Credit Solutions to clarify requirements, including confirming that library responses were acceptable as the foundation for templates.  Pastdue Credit Solutions also contributed by updating the source code for message management, enabling seamless automation of templated responses.

Jamie McCreadie, Operations Manager, “I want to emphasise my thanks and appreciation to Saascoms, both for the quick turnaround and support on this. It’s much appreciated.”

Conclusion

Saascoms takes pride in working closely with clients to provide award-winning, flexible and bespoke customer service software solutions. The recent customer case study with Past Due Credit Solutions is just one example.

angry customer on phone

What Is Good Customer Service?

Introduction

What is good customer service? Is it answering the phone quickly? Being available out of hours? Having multiple points of contact? Clear FAQ’s and online support? All these can be considered good customer service practices. But when it boils down to it – resolving issues is the number one definition of good customer service.

How did we get here?

It’s a fact things go wrong when customers and organisations transact. Whether it be a service, product or paid advice, the combination of multi-channel communications, human nature and human interpretation can all contribute to a positive or negative experience. Expectations alone can create friction, for instance the quality you expect when buying a Ferrari would differ from buying a Fiat? But also the sense of value should do to. But what if these expectations are not aligned? Customer service problem!

Most customer service issues are easily quantified. Wrong order delivered, order delayed or arrives broken, delivery cancelled by courier, transaction charges applied because bill wasn’t paid, voucher out of date, promotion expired, work not completed satisfactorily, etc.

Annoyed at customer service

five stages of customer service

How do consumers assess customer service?

The real test of good customer service and customer satisfaction is how quickly and efficiently issues are dealt with. For instance, you may still give a restaurant a 5* review even if they mess up your order by bringing the wrong food, or maybe the steak is overdone. That is because (without you asking) they reduce the bill, add a complimentary drink or just say sorry for their mistake.

Quite often customers are left waiting for a resolution, which is where their view of the organisation becomes negative. By ignoring a customer issue it rarely gets better. Even if the complaint isn’t pursued, it may result in bad word of mouth and a future customer lost.

happy lady on a phone

How Saascoms supports good customer service

At Saascoms we develop award-winning software solutions that support call and contact centre operations. By reducing the time your agents spend on day to day administration, security and level level enquiries, your agents can maximise time spent on complex cases.

  • Omnireach – one platform for all your digital communications. Our AI powered software is available 24/7 and can complete ID&V, provide payment information, offer order updates and more.
  • Mailmaster – the pioneer of secure digital letters which not only reduces postal costs but speeds up customer contact, can be integrated with Omnireach to resolve everyday queries.
  • Resolution – our self service debt management portal has been developed to take the stress out of repayments. Customers can manage repayments, set up schedules and more.

At Saascoms we live and breath customer service.

Cyber security matters

Cyber Security Matters – Why Secure Partners Are Essential

Introduction

Cyber Security has been hitting the headlines for all the wrong reasons over the last month. From the giants of JLR to small businesses such as Kido Children’s Nursery, is no business safe? We’ve even heard of a business in the credit and collections industry being targeted by hackers.

In today’s digital world, cyber threats are a constant risk for businesses of all sizes. From data breaches to ransomware attacks, the consequences of inadequate security can be devastating. Financial losses, reputational damage, and operational downtime.

At Saascoms cyber security matters. With millions of customer records on our platforms, we understand our responsibilities.

Cyber Essentials Logo

Why Cyber Security Should Be a Top Priority

Cyber attacks are evolving rapidly. According to recent studies:

  • 60% of small businesses close within six months of a cyber attack.

  • The average cost of a data breach for JLR has been estimated at £50m per week!

  • Human error is one of the leading causes of security incidents.

These statistics underscore the need for a proactive approach to cyber security, especially when choosing technology partners.

The Role of Secure Partners in Cyber Security

Partnering with providers who are Cyber Essentials Plus ensures that your business benefits from:

  1. Verified Security Practices
    Cyber Essentials certification confirms that the provider adheres to strict security protocols, including secure network configuration, access controls, and malware protection.

  2. Reduced Risk of Data Breaches
    Certified partners are less likely to have vulnerabilities that hackers can exploit, minimising the risk to your business and your customers.

  3. Regulatory Compliance
    Working with certified partners helps ensure compliance with GDPR, ISO standards, and other industry regulations.

  4. Business Continuity
    Secure partners implement robust systems to prevent downtime, ensuring your operations remain uninterrupted in the face of cyber threats.

computer hacker

How Saascoms Prioritises Cyber Security Matters

At Saascoms, security is at the core of our platform:

  • Cyber Essentials Plus: we follow all guidelines to meet high cyber security standards.

  • ISO27001: the international standard for information security management systems.

  • Microsoft Azure Hosting: UK hosting of all data, software platforms and testing platforms.

  • UK Software Development: all software developed in the UK to ensure security and code control.

By working with Saascoms, businesses gain a trusted partner that prioritises cyber security at every level, giving peace of mind to both teams and customers. We regularly stress and pen test our systems for any weaknesses to ensure confidence and peace of mind for our clients.

Benefits of Partnering with Secure Providers

  • Peace of Mind: know that your operations are backed by certified, secure practices.

  • Stronger Reputation: customers and stakeholders trust businesses that prioritise cyber security.

  • Minimise Risk: reduce the likelihood of breaches, fines, and downtime.

  • Scalability & Compliance: grow your business with confidence that security standards are maintained.

cyber attack

Conclusion: Cyber Security Starts with Secure Partnerships

Cyber security is no longer optional, it’s a critical element of modern business strategy. By partnering with secure, Cyber Essentials certified providers, businesses can reduce risks, maintain compliance, and safeguard their operations.

Saascoms is committed to providing a secure, reliable platform, ensuring that your customer data, communications, and workflows remain protected.

credit & technology awards

Saascoms Shortlisted for 10 Credit & Technology Awards!

Introduction

Saascoms is delighted to announce we have been shortlisted for 10 awards at the Credit Connect UK, Credit & Collections Technology Awards. This is a fantastic achievement and recognition for the team, our partners, suppliers and clients.

The Credit & Technology Awards

Since 2017 the Credit & Technology Awards have been recognising excellence in the credit and collections industry through the use of technology. The last eight years have seen huge advances in AI which have revolutionised the sector. The awards are presented at a formal evening which this year takes place on the 20th November at the Midland Hotel Manchester.

This year there are a total of 19 awards to be handed out.

Saascoms History at the Awards

Saascoms has a proud and successful record at the Credit & Technology Awards, first winning Customer Engagement in 2019, followed by Artificial Intelligence in 2021, Artificial and Contact Centre Solution in 2022 and in 2023 and 2024 Contact Centre Solution. In both 2023 and 2024 Saascoms were also awarded Premier Power Company two years continuously.

Entering the Credit & Technology Awards

The awards require a 500 word submission by the applicant, which is then reviewed by a panel to select the finalists. A further panel then reviews the finalists from which an ultimate winner is selected. The process is competitive, requires technical writing skills and time – which is hopefully worth it in the end.

For 2025 Saascoms has been shortlisted for:

  • Innovation in Collections & Recoveries
  • Technology Innovator – Person of the Year
  • Technology Team of the Year
  • Contact Centre Solution
  • Customer Engagement Solution
  • Payment Solution
  • Vulnerable Customer Identification & Screening Solution
  • Artificial Intelligence in Credit & Collections Solution
  • Best Technology Demonstration
  • Machine Learning in Credit & Collections Solution

Final Thoughts

Although awards do not define an organisation, they do acknowledge the hard work, innovation and professionalism that is undertaken and therefore recognised. For Saascoms, we see our awards success as credit for our continued innovation, teamwork, client and partner support. And hopefully they help build awareness of our business and services.

Cloud Contact Centre

Best Cloud Contact Centre Software: Top Solutions for Modern Businesses

Introduction

Customer support can make or break your brand. Traditional call centres are no longer enough to deliver customer excellence. Customers expect seamless, omnichannel experiences that are fast, efficient, and personalised.

This is where cloud contact centre software comes in. By combining scalability, flexibility, and advanced features like AI-powered automation and analytics, modern contact centre solutions transform traditional customer service.

In this article, we’ll explore what makes the best cloud contact centre software, key features to look for, and why Saascoms stands out as a top choice for businesses in 2025.

Why Choose Cloud Contact Centre Software?

Cloud contact centre software offers significant advantages over traditional on-premise solutions:

  • Accessibility Anywhere – Agents can work from any location, ensuring uninterrupted support for remote teams.
  • Scalability – Quickly adjust capacity as your business grows or during peak periods.
  • Cost-Efficiency – No large upfront infrastructure costs; pay for what you use.
  • Seamless Updates – Receive automatic software updates without downtime.

Modern customers expect multi-channel communication, calls, emails, live chat, social media messages, and even SMS. Cloud software integrates all these channels into a single platform, giving agents full context for every customer interaction.

Key Features to Look for in 2025

  1. Omnichannel Support
    Handle customer interactions across all channels seamlessly, ensuring that every touchpoint is consistent and tracked.
  2. AI and Automation
    From chatbots answering common questions to predictive call routing, AI enhances both efficiency and the customer experience.
  3. CRM Integration
    Integrated customer data helps agents provide personalised support, improving satisfaction and loyalty.
  4. Analytics & Reporting
    Real-time dashboards, KPIs, and insights into agent performance allow managers to optimise workflows and identify improvement areas.
  5. Security & Compliance
    Ensure the software adheres to regulations like GDPR, HIPAA, or PCI DSS, especially if handling sensitive customer information.

Why Choose Saascoms Cloud Contact Centre Software?

Saascoms Omnireach stands out due to its ease of use, robust AI tools, and exceptional scalability, making it a future-proof choice for modern businesses. Multi-award winning, Omnireach is the choice of over 700 global brands, powering customer services for retailers, utilities, finance and credit industries.

How to Evaluate the Best Option for Your Business

When choosing cloud contact centre software, consider:

  • Business Size & Requirements – Enterprise vs SMB, volume of interactions, channels required.
  • Feature Set vs Cost – Balance advanced features with your budget.
  • Integration Needs – Ensure compatibility with existing CRMs, ERP systems, and other tools.
  • Ease of Implementation – Look for solutions that allow quick onboarding with minimal disruption.
  • Vendor Support & Reliability – Opt for vendors with strong customer support and uptime guarantees.

Conclusion: Choosing the Right Cloud Contact Centre Software

The right cloud contact centre software can revolutionise customer support, improve operational efficiency, and drive business growth. With advanced AI, omnichannel support, and seamless scalability, solutions like Saascoms empower businesses to deliver exceptional customer experiences.

Contact Saascoms
How contact centre software works

A Beginner’s Guide To How Contact Centre Software Works

Introduction

Customer support is no longer just answering phone calls. Today, organisation must manage inquiries across multiple channels which include calls, emails, live chat, social media, and more.

Contact Centre software is the technology that makes this possible. Modern platforms like Saascoms Omnireach integrate communication, automation, and analytics to help businesses deliver faster, more personalised support.

This guide explains how contact centre software works, its core features, and why it’s essential for modern customer service operations in order to succeed.

What Is Contact Centre Software?

Contact Centre software is a platform that helps organisations manage all customer interactions in one place. Unlike traditional call centres, which focus mainly on phone calls, modern solutions handle omnichannel communication, including:

  • Phone calls
  • Email and SMS
  • Live chat and chatbots
  • Social media messages

Cloud-based software, like Saascoms Omnireach, allows agents to work from anywhere while providing managers with real-time insights into performance.

Core Functions of Contact Centre Software

  1. Call Routing
    Automatically directs calls to the right agent or digital responder based on skill, availability, or customer history, reducing wait times and improving efficiency.
  2. Omnichannel Messaging
    Integrates multiple channels into a single interface, allowing agents to respond to emails, social messages, or chat requests without switching tools.
  3. Ticketing Systems
    Tracks and manages customer issues from start to resolution, ensuring nothing falls through the cracks.
  4. Automation & AI Tools
    Chatbots, virtual assistants, and AI-powered workflows handle routine queries, freeing agents to focus on complex tasks while resolving the majority of day to day questions.
  5. Reporting & Analytics
    Provides real-time dashboards, KPIs, and actionable insights to optimise agent performance and overall customer experience.

How Cloud SaaS Platforms Differ from Traditional Software

Traditional contact centre software requires expensive on-premise hardware, complex installations, and lengthy maintenance. Cloud SaaS platforms offer:

  • Remote Access – Agents can work from any location with an internet connection.
  • Scalability – Easily add or remove users and features as your business grows.
  • Automatic Updates – Receive new features without downtime or manual installation.
  • Lower Costs – Subscription pricing avoids high upfront investments.

SaaS solutions like Saascoms Omnireach combine these benefits with modern features like AI-powered automation, analytics, and omnichannel support.

Real-World Example: How Saascoms Streamlines Customer Support

Imagine a customer sends a query via chat, email, and phone call about an order issue. Without integrated software, these interactions are handled separately, creating delays and frustration.

With Omnireach all communications appear in one user interface:

  • The system automatically creates a single ticket for the order issue.
  • AI suggests the best response based on previous interactions.
  • Managers access real-time dashboards to monitor response times and agent performance.

The result? Faster resolutions, higher customer satisfaction, and improved agent productivity.

Conclusion: Understanding the Technology Behind Modern Contact Centres

Contact Centre software is no longer optional, it’s essential. By centralising communication, leveraging AI, and providing real-time insights, SaaS platforms like Saascoms Omnireach enable businesses to deliver consistent, efficient, and personalised customer support.

Investing in the right contact centre software ensures your business can meet modern customer expectations while optimising operations for efficiency and growth.

what is agentic ai

What is Agentic AI? And what does it mean for customer experience

Introduction

You might just be getting your head around AI and the world of ChatGPT, Android Gemini and Apple Intelligence. However, the game has already moved on from Generative AI to Agentic AI. So what is Agentic AI? And what does it mean for customer experience?

Agentic versus Generative – what’s the difference?

Generative AI uses LLM’s (Large Language Models) to generate a response based on the prompt it is given. The AI is trained on information and builds appropriate responses which are predetermined by the question asked. Think about your typical customer services Chatbot and invariably it will be powered by Generative AI. As a result it is only as good as the information it learns from and the instructions it has been given. Saascoms Omnireach uses Generative AI and it can resolve up to 93% of customer queries.

For instance a customer may ask a Chatbot, ‘I think my account has been hacked or compromised, there are card payments that are not mine.’ The Chatbot will analyse the wording and may respond with, ‘Would you like me to freeze your account and pass you to an agent?’

As the name suggests, it ‘generates’ an answer but waits for a further prompt to take action.

Agentic AI on the other hand still uses LLM’s. However, the main difference is it aims to solve the problem entirely. So what is Agentic AI? In the example above the Agentic AI may respond to the prompt with, ‘Your account has been frozen and the investigations team has been informed.  A new card has been issued which you will receive within 3 days and we will call shortly to discuss the queried payments.’ Agentic AI doesn’t wait for further prompts, it takes multiple steps to solve the task.

This short VIDEO is a good explainer into the new world of Agentic AI.

Use Cases for Agentic AI

So here’s where fact meets fiction, we’ve used AI to generate the list of use cases for Agentic AI. Here’s a selection:

  • Cyber Security – real time threat detection, stress testing (and repair of weaknesses) and active threat hunting. AI can become the security guard for your systems.
  • Finance – from virtual Financial Advisor to Fund Manager, making investment choices through live data analysis and personal recommendations and action.
  • Supply Chain – advanced stock replenishment and supplier performance analysis, workflow efficiencies and distribution management.
  • Customer Services – end to end problem solving (as per our example) and streamlined experiences.
  • Healthcare – active diagnosis based on symptoms, drug development (AI has recently developed new antibiotics) and patient monitoring (actively linked to a smartphone or watch).

Summary

What is Agentic AI? An Artificial Intelligence that is developing rapidly and will impact on nearly all our everyday lives. It is what most people already thought AI was about; decision making, analysis, end-to-end workflows and more. It has the potential to change all our lives, how we work, what jobs we do and how we interact with the world.

most popular credit products

Consumer Debt – what are the most popular credit products?

Introduction

The UK is a credit nation, we discussed this in a Blog only a few weeks ago. The findings were based on a report by the House of Commons Library which we used to compare the UK to other nations. We made comments on how cultural and economic differences impact on the use of credit. In this blog we ask, what are the most popular credit products?

What are Consumer Credit Products?

When we refer to consumer credit products we are including any type of consumer credit, from a deferred sofa payment to a repayment mortgage. Or a secured personal loan to a bank overdraft or credit card balance. Consumer credit products typically have an interest rate or APR, unless they are 0% as part of a deferred ‘buy now pay later’.

As consumers many of us are used to credit in our everyday lives. From a mortgage for our home, car loan, 0% interest for furniture, credit card balance, overdraft or payday loan. But what are the most popular credit products in the UK?

Popular Credit Products

As a nation of homeowners it’s no surprise that over a quarter of adults have a mortgage. Or that nearly one in two adults have some form of regulated credit. Credit card and overdraft, should either be prolonged, are often better converted into a personal loan. Typically this offers a more competitive interest rate.

consumer debt

Demographic Trends

Within the adult population that have consumer credit products, the peak age group is 35-44 years. This would be typically when the average family has young children, careers are still being built and credit is used to purchase items and experiences. The lowest age group for credit are the over 75’s. They have either built financial security or due to retirement are limited by what they need or can afford.

Typically credit is most widely used by adults earning £50k – £100k per annum, which is symptomatic of the lifestyle they are looking to create. Those on very low incomes tend to have less credit products (due to affordability). However, they have the highest percentage of high-cost credit – which tends to include catalogues and payday loans.

Summary

As an observation of the UK, the credit products taken out by the population provide insight into where future issues may arise. Therefore we can take steps to avoid future financial hardships. For middle class incomes, mortgage and income protection products may protect against job losses or health issues. For low income adults, trying to avoid high cost credit and use high street banking or family loans may offer a cheaper solution.

At Saascoms we’re not financial advisors or planners. But as our software powers the credit and collections industry it’s important we stay in touch with the market.