Identifying vulnerable customers is only the beginning. What matters is what happens next. If your vulnerability data is not driving different outcomes, it is not doing its job.  Many firms in financial services have invested heavily in identifying vulnerable customers. Flags are recorded. Disclosures are logged. Identification rates are tracked and reported. On paper, the firm knows who its vulnerable … Continued

The Consumer Duty Board Report was meant to be a moment of honest reflection. For too many firms, it has become a compliance exercise. Here is what the FCA actually wants to see. perience has not changed? Every firm subject to Consumer Duty is expected to produce an annual board report reviewing the outcomes their customers are receiving. … Continued