Glossary
Financial resilience
Financial resilience is a person's ability to withstand financial shocks, such as a drop in income or an unexpected bill, without serious hardship. Low resilience is one of the FCA's drivers of vulnerability and a key thing affordability assessments try to gauge.
Signs of low resilience, such as thin savings buffers and volatile balances, are visible in Open Banking data and shape sustainable lending.
How Credit Canary helps with financial resilience
Credit Canary brings the data, decisioning and payments behind Financial resilience into one platform for UK lenders.
Affordability ScoreSee Financial resilience in a working platform
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