With only a few months before the new Consumer Duty becomes a reality for most firms, preparations should be moving into their final phases. And make no mistake, this is not ‘just another piece of regulation’ to comply with. It requires firms to take a hard look in the mirror and ask themselves difficult questions about how they operate and treat their customers. And, for most, it will require a major uplift in their focus on and treatment of customers.
The FCA recently published a review of the implementation plans in firms that have fixed supervision, and it made very interesting reading. Whilst it noted that preparations are well progressed in many firms, this was far from
universal. Part of their review focussed on the Data Strategies firms plan to employ for measuring their performance against these new standards.
The feedback firms can get from their complaints system provides invaluable evidence for firms on how they are performing against Consumer Duty.
We are taking this opportunity to invite Caroline Wells from Quibble, the specialist consultancy and training firm to join us to share insights from her work on Consumer Duty. Specifically, we will be focusing in on the areas of consumer redress, vulnerable customers and using feedback to help drive the understanding and process improvements demanded by the Duty’s higher standards.
We look forward to welcoming you for an interactive 90-minute session discussing and debating how complaints can be instrumental in improving your firm’s response to Consumer Duty.
To register for this event please click here https://us02web.zoom.us/webinar/register/9316770797997/WN_7dzx0e5IQUag5iUYCDVMog