From 31st July 2024, the FCA's Consumer Duty sets higher standards for consumer protection and extends to include closed books, creating new data challenges in delivering good customer outcomes.
Under the rules, firms need to demonstrate that products and services are fit for purpose, that they offer good value for money, that consumers truly understand them – and that they are given the necessary support.
How is your business set up to deal with the more stringent rules? Are you confident that you understand the needs of all of your customers, not just those with whom you are in regular contact?
Catch up on the action after LexisNexis® Risk Solutions joined forces with consumer vulnerability specialist MorganAsh, to shine a light on ways to enable wider engagement across your full customer base.