About
The FCA thinks that competition in retail markets is not working as it should – in customers’ interests.
We think it has a point. Every week in user research we see the world of financial services through consumers’ eyes. The picture isn’t too rosy. Many are baffled! And the problem is widespread – in our experience no firm is exempt, despite the hard work and best intentions of those involved.
But while inconvenient, the problems are at least clearer than the proposed remedy. The regulator wants to drive a ‘significant shift in culture and behaviour’, so that consumers are empowered to make more informed decisions. But how? Its 243-page Consumer Duty consultation left most readers with more questions than answers.
We’ve held a series of webinars to help firms make sense of the challenge.
In this first session, we unpacked key aspects of the consultation and shared ideas about how firms could approach it.
