With inflation rates hitting record levels worldwide, there’s no doubt we are entering a global cost of living crisis. A recent report noted that the highest recorded global inflation of the past decade took place in 2008 when the inflation rate was approximately 6.4% compared to the previous year. As of July 2022, the U.S. and the U.K. are seeing 40-year record-level highs with rates in both regions at 9.1%. Specifically in the U.K., the Bank of England forecast predicts that the inflation rate will hit 11% by the end of 2022.

With the cost of goods and services increasing we know this is going to affect consumers, but how is this going to affect organizations, particularly ones within the banking & finance industry?

Read this blog to learn how organizations in the banking and finance industry can prepare and avoid negative impact.

About Alvaria

Alvaria helps organizations efficiently manage and engage the modern workforce and connect compliantly with customers and prospects. Our open, innovative multi-platform is purpose built for two core competencies: a feature-rich, intuitive, and intelligent workforce engagement management platform, and a multi-channel proactive compliant outreach platform. Alvaria, the result of the merger of world leaders – Aspect Software and Noble Systems – is proudly celebrating 50 years in business reshaping customer and employee experience.