About
The FCA wants Financial Services firms to permanently embed the Consumer Duty, not just to comply with July’s deadline.
That’s easier said than done. Policies and processes alone won’t drive the right behaviours.
In a strong Consumer Duty culture, you can trust that your colleagues are all working to the same ends – to make things better for customers. That benefits the business too, because customer-centred firms grow faster, change quicker, and have more satisfied staff.
Behavioural science can help you to develop a Consumer Duty culture.
During this session, Ed Smith discussed why embedding the Consumer Duty into organisational culture is important to the FCA, what their expectations are for firms, and their implementation priorities. Jonti Dalal-Small then looked at how to design, test and deploy a framework to build the right culture for your firm.
Watch this webinar to learn more about:
- The primacy of culture. And why it’s critical to avoiding the ‘shallow compliance’ trap
- The importance of using the right framework. You need tools to measure and develop Consumer Duty culture, linking outcomes to the behaviours you need to see
- How you can start. Using a model of Consumer Duty Culture Excellence and overcoming the typical psychological barriers to change
