Consumer Duty uses the term ‘vulnerability’ – but is that word itself unhelpful? Does it come with preconceptions, stigma or assumptions? Is the term ‘suitability’ more appropriate? Andrew Gething and Tony Crane discuss the need for labels – but also why the need to have a common understanding of these is important.
The FCA: “Those who are repackaging existing data are failing.” Consumer Duty: at the end of the day, it’s all about the data. Without data, there’s no evidence; without data, you can’t attest; without data, you can’t measure or benchmark. This webinar looks at real-life examples of two organisations which are gathering consumer vulnerability and outcome data and turning that data into meaningful reports. We also cover using it to ‘do good business’ – because the more we understand our customers, the better our customer engagement, retention, intergenerational servicing – and our reputation.