Strategies for success in a new era of consumer regulation
The new Consumer Duty regulation from the Financial Conduct Authority (FCA) requires firms within the financial services sector to prioritise customer needs and empower them to make informed financial decisions.
In its spring 2023 survey, the FCA found that 64% of firms expect to be fully compliant with the new regulation by the 31 July, indicating that many companies are still in the process of amending their offering and need ongoing support.
Our advisory paper delves into practical strategies to support businesses ensure compliance, now and in the long-term, by helping you:
- learn how data and insights can help you deliver the best consumer outcomes
- find out how our solutions can support your strategy, including assessing affordability and spotting signs of financial stress
- understand potential opportunities that come with Consumer Duty, such as driving credit education with your own customers
“The long-term financial wellbeing of consumers is crucial, not only for their own prosperity, but also for the success and sustainability of the economy. It’s imperative the industry proactively embraces conversations surrounding financial wellbeing, treating it with the same importance as mental and emotional wellness.”
Satrajit "Satty" Saha, CEO of TransUnion in the UK