Why sharing individual customer data is the practical solution to meeting Consumer Duty
This paper looks at why it will be a far better customer experience if consumer characteristics data is provided once and then shared between different parties.
Download this paper
Consumer Duty requires that firms can evidence how they understand the characteristics of customers over the life of a product. Inevitably, this means asking questions, perhaps quite a few. But from the consumers’ perspective, having to do this again and again (when obtaining quotes) or again and again through the life of the product isn’t just tiresome, it’s annoying – and it could likely lead to inconsistencies.
Download PDF (0.59MB)Latest white paper
Understanding the implications of vulnerability within Consumer Duty
Our latest Consumer Duty white paper
This paper examines the FCA Handbook Rules on Consumer Duty Regulations, specifically Principle 12. We extracted some key rules in order to explain the practical implications.
Latest podcast
What is a vulnerability?
Our latest Consumer Duty podcast
There is still a great deal of uncertainty about how someone is defined as vulnerable; what a vulnerability is. The FCA’s data (confirmed with live data from MorganAsh’s vulnerable consumer management tool, MARS) shows that around half of all people can be defined as vulnerable. Yet others say that they have only a few per cent of vulnerable consumers. Can this be true? Andrew Gething and Johnny Timpson OBE try to dig into the answers.
Latest webinar
Consumer vulnerability webinar: sharing vulnerability data – the pros and cons
Our latest Consumer Duty webinar
If vulnerable consumers must go through an assessment for every engagement with each services provider then it’s going to be pretty tiresome for them. It will make their lives worse, not better – in itself, a poor outcome. The recognised ideal is ‘tell us once’ – and this can only work where we can share vulnerability data.