Financial Services Payment Performance Dips Slightly: Average Score Down 0.5 Points in 2022

The Comparison

• 2021: A study of 520 financial services companies revealed an average payment performance score of 83.0 out of 100.
• 2022: A smaller sample of 465 financial services firms recorded an average score of 82.5 out of 100.

What This Means

The marginal decrease of 0.5 points suggests a slight deceleration in payment efficiency within the sector between 2021 and 2022. While the change is minimal, it potentially indicates emerging headwinds in payment processes across the industry, or could be linked to the reduction in sample size impacting the overall average. If these issues result in late payments, you can use a late payment calculator to quickly determine amounts.

Summary: The financial services sector saw a modest decline in payment performance from 83.0 (out of 100) across 520 companies in 2021, to 82.5 across 465 companies in 2022.