Consumer habits are changing. The personal owners, you and I, will understand it and the

UK may not exist in five years. It will all be in storm and finance through the point

of sale offerings. You know, it will be a lot more different to buy in our politics,

it could be a larger valley, longer term, it might be interest-bearing. But, you know,

we need to react and we think about different ways of taking product and market, what our

consumers want and how do we best support their needs.

Final bay later was around before the pandemic, establishing a foundation, finding a user base

and growing. But the nature of exponential growth is such that initially, it can be hard

to see. One becomes two, becomes four, becomes eight, becomes sixteen. Until suddenly it

isn't and thousands and thousands of customers are signing up every day in countries around

the world. That natural upswing then coincided with and was amplified by the pandemic push

to more online commerce, more online, everything really, to create the B&PL explosion that

we saw. Then came the equally quick reversal. As usual, the truth lies somewhere in between.

Consumers love cheap and transparent creditors, investors love creditors that can attract consumers,

so check and check, but investors also love growth. And that's where the valuations

went awry, I think. In the pursuit of growth, we saw too many lenders making too many unsustainable

loans, too risky or too unavoidable, because they were each in an independent race, invisible

from each other. It's a gap that can only be closed by broad scale data sharing, which

is now beginning to happen. Welcome to our to lend money to strangers with Brendan Lagrange.

Simon Forster, Senior Market Consulting Partner at Experien. Welcome to the show. I think

your route to your current role is interesting, not just because it closes a loop, but because

you've worked with several of the UK challenger banks, which back in the day were the original

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