Firms that are falsely using GDPR as a ‘scapegoat’ for non-compliance with Consumer Duty are risking severe action from the regulator, MorganAsh warns.
Clocktower Support, a specialist financial services firm supporting foreign nationals from Asia, has adopted the MorganAsh Resilience System (MARS) to improve support and financial inclusion among its vulnerable customers.
In its July 2024 research report, Which? identified some serious shortcomings in the insurance claims process. In this webinar, we were joined by Alastair Reed, from Which? and protection specialist Alan Knowles, who helped us unpick the findings from this damning report.
This webinar features Meg Kirby, founder of LegaCare, discussing the severe impact of ‘bad outcomes’ on vulnerable customers through powerful case studies. Johnny Timpson OBE adds broader insights.
In a recent letter, the Treasury wrote to the FCA to recommend that financial inclusion forms part of its remit. The exact words said: “..should have regard to reinforcing financial inclusion...to enable individuals to access the financial services and products they need to fully participate in the economy.”
Elephants Don’t Forget, FWD Consulting, MorganAsh, and the Collaboration Network answer your questions about implementing the FCA’s Consumer Duty requirements on customer vulnerability within your firm.
While there are several different ways to approach consumer vulnerability, one view is that artificial intelligence (AI) will provide the silver bullet which solves the issue. This paper explores those issues and offers some perspective on the AI’s prospects of being the hoped-for panacea.
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.
While people prepare to report under Consumer Duty, Andrew Gething observes that one of the things many companies don’t understand is that Consumer Duty also requires them to report under the Equality Act. The Act has been around for some years, but many haven’t recognised the part it plays in Consumer Duty. Johnny Timpson OBE shares his thoughts.
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