Gonçalo Niza

Análisis de la evolución de la confianza de los responsables de la toma de decisiones financieras en España. La mayoría de los consumidores considera que la situación actual de la economía es débil o neutra pero espera una mejoría durante los próximos tres meses. Más de la mitad de los consumidores ha acusado una disminución de los ingresos, ahorros y gastos del hogar durante el último mes.

Banks have already been digitizing processes for years, but COVID-19 makes digital experiences essential to customers. Retail banks that focus on some key implementation principles will have an advantage in the mortgage market. Mortgages are retail banks’ core product. In western European countries, they can represent nearly 80 percent of retail credit and nearly 40 percent of the total credit portfolio.

For providers of consumer finance, there are crucial near-term moves and those that respond to likely longer-term shifts in customer behavior. Both are equally important. The COVID-19 pandemic is foremost a near-term crisis in global public health. The economic effects, however, will also be profound. We now see rising unemployment, corporate failures, asset depreciation (and volatility), and high uncertainty. In the near-term, we expect that European consumer finance will see massive disruption.