Consumer Duty webinars

Our regular Consumer Duty webinars and round-table discussions, featuring specialists in Consumer Duty and customer vulnerability – aimed primarily at the financial services sector.


Managing vulnerability in consumer credit

A Consumer Duty webinar (56:16)

The FCA has announced that it is reviewing how vulnerability is being managed. What are the practical implications for consumer credit, particularly in the motor finance sector, where credit is so important? We look at: what does consumer vulnerability look like, and what is required under Consumer Duty in consumer credit? We talk about the elephant in the room – the sale – the conflict of assessing consumers and minimising friction in the sale. And we ask what are the costs, benefits and risks of assessing consumer vulnerability? We also look at: personalisation of communications, comparisons of buying journeys, what the motor finance sector ‘doesn’t know’ about other areas of financial services – and we talk about the FCA’s current thinking and offer insights into what’s coming down the line from the regulator.


Are you vulnerable to getting it wrong? Question and answers

A Consumer Duty webinar (52:34)

Our joint webinar with Elephants Don’t Forget on 26 March 2024 raised a record number of questions – so many, that we couldn’t respond to them all on the day. We’ve put together this video to respond to those questions.


Are you vulnerable to getting it wrong

A Consumer Duty webinar (1:01:38)

The FCA continues to ramp up pressure on firms, to ensure that vulnerable customers’ outcomes are as good as those for other consumers. As we approach the first Consumer Duty assessments, the regulator has raised concerns that some firms are not prioritising support for vulnerable customers, whilst others have recorded having no vulnerable customers in their customer base – an untenable statistic, given that 50% can be classified as vulnerable at any point, and that most of us will be vulnerable during our lives (few people don’t experience a bereavement, for example). Because Consumer Duty is principle based, it’s not as clearly definitive as some regulations so it’s harder for people to know if they are getting it right. In this webinar, our panel of experts dissect the regulator’s expectations, looking at common pitfalls, false assumptions – and examine what the regulator is really looking for and the best ways to deliver this.


Consumer vulnerability webinar: sharing vulnerability data – the pros and cons

A Consumer Duty webinar (1:01)

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.


What to do if a consumer has an addiction?

A Consumer Duty webinar (52:37)

It’s statistically certain that some of your customers will be affected by some form of addiction – one in ten people are, whether it’s the people themselves or someone close to them. Consumer vulnerability regulations say that you can’t ignore this – but, equally, what should you do? This webinar explores the options and obligations for those who discover that a customer is vulnerable – with an alcohol, drug or substance use addiction. What do industry regulations require you to do? What shouldn’t you do? Are there further steps you could take as a concerned supplier – and fellow human? What are the pros and cons of helping out or stepping back? And what do you do if this is a past addiction, which is now reportedly managed by the consumer?


Reporting on outcomes: the good, the bad and the ugly

A Consumer Duty webinar (57:07)

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.


The three Cs: customers, Consumer Duty and communications

A Consumer Duty webinar (53:49)

How understandable are firms’ communications? How well do they work for those with learning disabilities, a lack of financial understanding, language disorders, poor English skills, hearing problems, or poor sight? Setting these aside, clarity of communications affects all consumers. This webinar examines the requirements of Consumer Duty – and how organisations can best implement communications strategies to address any shortcomings which may lead to potential harms. The webinar will be hosted by Peter Labrow, head of marketing at MorganAsh. He chatted with Andy Kirby, CEO and co-founder of Money Alive and co-founder of Adviser Home, and Robin Harries, lead consultant at communications business Quietroom.


Vulnerability data needed for board reports and Consumer Duty compliance

A Consumer Duty webinar (58:12)

The FCA requires that all firms must report on the impact on vulnerable customers for each and all of the four outcomes of Consumer Duty. But from where do we get the vulnerability data for these reports? This webinar examines the output: the vulnerability reports required for firms to ensure that they provide good outcomes – and the evidence that they are meeting Consumer Duty.

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The MorganAsh Resilience System, MARS, helps organisations to demonstrate compliance with the FCA’s Consumer Duty regulations and puts consumers at the heart of their business.

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