Machine Learning has been one of the hot topics in finance over the last few years, with benefits observed in most areas – many large institutions have prototyped and implemented techniques across decisioning, strategy optimisation, and fraud. The other key area that Machine Learning can bring significant benefits to, is automation.
Worries about the level of debt in the UK household sector have re-emerged over the last year. The period of – rather modest – retrenchment that took place during and since the global financial crisis saw debt fall from a peak of 163% of income to 141%.
UK unemployment continues to fall. In the three months to February, there were 45,000 fewer people unable to find a job than was the case in September to November 2016. This is down 141,000 on a year ago. Those looking at the numbers from a credit risk perspective can take heart: the last time the UK unemployment rate was this low was in the 1970s.