The next phase of the Consumer DutyEmail us to learn more
The FCA wants Financial Services firms to permanently embed the Consumer Duty, not just to comply with July's deadline.
It's time to turn obligation into opportunity, by truly embracing qualitative research and user-centred design.
Work with us to:
1. Listen better to customers
From the blog: Why quantitative data is essential but not enough
2. Improve outcomes sooner
3. Build a Consumer Duty culture
Experts in working with vulnerable customers
Specialists in Financial Services design
To embed the Consumer Duty into daily operations – to make it a shared responsibility – let’s use the language of customer centricity rather than compliance.
Two weeks ago, my colleague and namesake Stu Charlton hosted a webinar about the Consumer Duty. When he came to the end we expected a broad range of questions around the topics covered. But one area dominated: the consumer understanding outcome.
Our recent research confirmed why investing in customer trust is both worthwhile and urgent. It makes your business resilient during turbulent times.
To embed the Consumer Duty firms will need to use both quantitative and qualitative data. Our Experience Director, Tom, shares three short examples to bring that idea to life.
In 2018 the FCA introduced new regulation because too many financial services customers weren't getting the outcomes they should reasonably expect. Sound familiar? Here's what we learned.
Financial Services firms must strengthen plans to drive the 'mindset shift' required by the FCA. Our Behavioural Science Lead, Jonti, has designed a workshop to sow the seeds for a thriving Consumer Duty culture.
If you want best outcomes for all customers for least cost and risk, lay an inclusive baseline first. Too many firms get this wrong.
The written word dominates how we communicate on the web, but many of us struggle with it. This makes understanding financial services even harder. To improve understanding for all consumers we'll need more than words.
When risk of buyer's remorse is high, getting product selection right requires a different mentality and different tools from the 'don't make me think' approach that most UX follows.
What can you do to ensure your research activity is inclusive? We’ve come up with 50 easy ways that you and your organisation can take on board when conducting more inclusive research in the future.