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.
Just like any customer transformation programme, Consumer Duty requires a perpetual, cross-functional alignment around the customer. We’ve heard it said that culture eats strategy for breakfast. But how can firms measure progress against such an undefined target?
This webinar looks why there is a need for cultural change and what the FCA aims to achieve. The FCA has said that ‘culture drives conduct’ – but the reverse can also be true.
We look at the need to measure and evidence changes in a company’s culture – something which many will find difficult to do or may simply not know where to start.
We consider what tools and techniques are available to help firms do this, whether it comes to assessing employee competence, the firm’s cross-functional alignment around the customer, the outcomes customers receive or indeed the way in which vulnerable customers are treated (for example: signposting, changes to communications or processes etc). A compliant firm is also one that delivers a great customer experience.
In this discussion, we’re pleased to be joined by Chris Adlard, director of CX and compliance at Elephants Don’t Forget and Christopher Brooks, managing director and CX specialist UK at Lexden Group.
Chris Adlard
Chris is Director of CX and Compliance at Elephants Don’t Forget, a leading AI platform that helps drive employee competency. Chris is a multi-award-winning CX, compliance and marketing leader and co-author of The Customer Catalyst. He has previously worked as Consumer Duty Manager at Newbury Building Society and Senior Director of CX for FIS Worldpay. Prior to that, he led customer advocacy in EMEA at Virtusa, Customer Experience at CPA Global and Customer Engagement at Finastra.
Christopher Brooks
Christopher is managing director and CX specialist UK at Lexden Group, an award-winning customer experience firm. He is a global customer experience management consultant, ICXA gold winner, the CX Influencer of the Year 2024, CX Culture Champion of the Year 2024, and founder of the Customer Experience World Games. Over two decades of experience in CX across agencies, client-side, and consultancies have established Christopher as a leading figure in the field. He has guided corporate transformations for international companies in Europe, Africa, Asia, and the Americas.
James Edmonds
Consumer Duty consultant at MorganAsh. James works with firms in the financial services sector, to help them understand and overcome the many customer vulnerability challenges with the FCA’s Consumer Duty regulations. James has extensive knowledge in customer experience, of which identifying, supporting and communicating with vulnerable customers is a key component. James has operated in customer experience and strategy roles primarily in financial services for nearly 20 years, having worked at L&G, RSA, More Than, JUST, James Hay and Nucleus.