Hyperfocusing on Consumer Outcomes: The New Consumer Duty and Financial Vulnerability

One of the most pressing economic challenges stemming from the cost of living crisis is the growing concern around consumers' financial vulnerability. It is a high priority and concern for senior leaders across financial services, insurance, gaming, e-commerce and government. The publication of the Credit Information Market Study Interim Report and Discussion Paper (Nov 2022) — covering non-financial vulnerability and the need to ensure good customer outcomes — and the FCA’s new Consumer Duty regulations, emphasises the need for organisations to invest in data solutions and data science talent, adhere to evolving compliance requirements, be committed to customer care and have a strategic mindset. This podcast dives into the issue of financial vulnerability and discusses the changing regulatory landscape and the latest on the Consumer Duty. It features vox pops from the public talking about their financial concerns and how they are coping with the pressures on their household budgets, expert insights from decision makers in the credit space and an overview of the ways businesses can strengthen relationships with customers and improve their financial confidence. Contributors you'll hear from: * Sam Welch, Commercial Banking Director, TransUnion * Jonathan Baum, Non-Exec Board Member and Strategic Advisor * Caroline Evetts, Director of Risk & Compliance, TransUnion * Oli Lewis-Jones, Retail Conduct Risk and Regulation Consultant, Deloitte * James Robinson, Managing Director - Consumer Interactive, TransUnion Further insights * Create brighter futures with CreditView (https://www.transunion.co.uk/lp/creditview-ebook) e-Book * Emerging Financial Services Trends and The Future of Banking (https://www.transunion.co.uk/blog/emerging-financial-services-trends-and-the-future-of-banking)