The FCA has repeatedly stated that the Consumer Duty is not a once-and-done exercise. Therefore, firms need to maintain an ongoing cultural focus on the Duty, and even transform their culture to improve the outcomes customers receive.

This webinar explores the intersection of Consumer Duty and GDPR, focusing on the data storage and privacy issues businesses must navigate to be compliant. We will explore the key challenges firms face in managing vulnerable customer data, discussing the types of data that need to be stored, and the permissions required.

Maintaining accurate and up-to-date vulnerable customer data is a challenge. Over time, databases naturally degrade, with information becoming outdated because of life events like address changes, marital status shifts, or death. This decay is critical for vulnerable customers. Missing or incorrect data can lead to a loss of contact, potentially resulting in preventable harm and a failure to provide necessary support.