Highlights from the ARCA Pre-Summit Series: Developing Your Action Plan for Implementing Hardship Reporting
On 14 September, more than 400 industry colleagues tuned in to hear our experts unpack the upcoming introduction of financial hardship information to the credit reporting system.
ARCA’s CEO Mike Laing provided an executive update on hardship reporting changes to date, and the road ahead. ARCA’s Executive Director – Policy & Advocacy Michael Blyth and ASIC Senior Executive Leader – Credit & Banking Tim Gough then looked at how changes to include financial hardship information under the Privacy Act, interact with existing hardship legislation and practices.
Wendy Barker, ARCA Policy Manager walked through key changes to the Australian Credit Reporting Data Standards to accommodate reporting of financial hardship information. ARCA PRDE & Industry Policy Manager Becky Fishburn added her expertise, setting out anticipated changes to the PRDE to manage industry’s transition to hardship reporting.
Industry expert and reminda Head of Operations Michael Quinn highlighted recent developments in the collections space since the COVID-19 pandemic began, and applied his experience in debt recovery to consider what impacts the upcoming changes might have on collections operations.
Adding to the customer-centric conversation, ARCA Campaign Manager: Consumer Education, Tersia van Rooyen shared insights from ARCA’s consumer education program, CreditSmart and looked at how CreditSmart can support industry and consumers through the implementation of hardship reporting and beyond.
Registration for the ARCA Credit Summit 2021 includes access to the recording of this event, as well as registration to our next Pre-Summit Series on the topic of Shifts in Consumer Behaviour and Expectations, & Industry Practices Over the Last 18 Months. The recording for this event is only available for two weeks – so book now to make the most of your ARCA Credit Summit ticket!