An overwhelming majority of lending professionals have predicted stability in the UK finance industry over the next two years, with more than half expecting growth, according to a recent survey by IT provider Nostrum.
The positive outlook mirrors that of a survey by recruitment company Robert Half Financial Services which reported a majority of finance professionals were ‘somewhat’ or ‘very’ confident their company would grow in 2013.
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Of those polled by Nostrum, 84% forecast stability in the lending industry over the next two years and 57% anticipated growth. Potential collapse of the eurozone and regulatory change were cited as the two factors most likely to disrupt the lending industry in the next five years.
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More than half, 59%, thought alternative financing such as peer-to-peer lending, guarantor loans and logbooks will spur growth over the next two years. Service providers appeared the most convinced by the prospects in peer-to-peer lending; 72% of whom saw an opportunity in it, followed by 62% of brokers, but only 58% of lenders agreed.
Just under half, 49%, of those surveyed thought it was important for borrowers to have round-the-clock access to accounts, while 46% believed it was helpful but not important.
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By GlobalDataDespite mounting company statements and professional opinions highlighting the increased use of mobile devices, or instances of the industry looking to capitalise on the trend, only 45% of those polled by Nostrum had plans to develop specific mobile technology in the next 12 months.
richard.brown@vrlfinancialnews.com
