There is no doubt that the growing pace of fintech can enhance the mortgage customer journey, but how do we ensure vulnerable customers aren't left behind? Lee Usher, Debt Advice Strategy Manager, takes a brief look at the issue ahead of the UK Finance Arrears and Possessions Conference.

Fintech. It's the word on everybody's lips in our sector, but what does it mean for mortgage customers? One of the main benefits of using innovative technology in the financial services industry should be to make things better, quicker and cheaper for a customer - in short, to enhance the mortgage customer's journey.

However, it should be noted that whilst fintech does indeed deliver these benefits for a vast array of customers, there is a risk that some people are digitally excluded. Fintech shouldn't just answer the problems of the ordinary mortgage customer, it should also help address the problems of those who are classed as vulnerable - and particularly those in debt.

It is not just commercial sense to ensure the collections process is as efficient and effective as possible. As a sector, we are in a position to work together to help ensure that all customers benefit from the digital revolution. Fintech solutions can help vulnerable customers in debt manage their finances in a better way. This could be by enabling them to make instant payments on their mortgage or sign documents with an e-signature. Such customers can also benefit from technology being integrated with third parties, such as credit reference agencies and debt advice partners.

At the forthcoming UK Finance Arrears and Possessions Conference, I will be speaking about digital repayment solutions, including the Computershare REPAY tool. This technology gives us a good start with addressing the issue of vulnerable customers and fintech.

In last year's Financial Conduct Authority Financial Lives survey, it was revealed that half of UK adults are potentially vulnerable. Of UK adults who never use the internet, over 70 per cent live in rural areas - 48 per cent of UK adults living in rural areas are aged 75 or over, have health issues that affect their daily activities a lot and/or do not use the internet most days.

It is clear the mortgage industry faces a huge challenge if we are to ensure people are not left behind as the pace of fintech continues to increase. So how do we ensure all mortgage customers, not just the ?ordinary? ones, benefit from fintech? I?m afraid I don't have the exact answer at this point, but what I do know is that we all need to work together to ensure we have these answers, and fast. Vulnerable indebted customers are still customers and it is essential the sector prioritises their needs just as much, if not more.