7 critical actions to take from the FCA’s Consumer Duty Consultation and how speech analytics can help achieve them

Financial Service firms need to rely on more than just human resources to implement the new FCA’s Customer Duty of Care rules and guidelines by April 2023. Deloitte recommended the following critical actions, and we addressed how speech analytics can be used to achieve each of them: 1. Compliance and consistency throughout the distribution […]
How Your Business Can Prepare for the FCA’s New Consumer Duty of Care Proposals

If you’re struggling to understand how to show regulators that your business is compliant following the FCA’s recent Consumer Duty of Care proposals, you’re absolutely not the only one. Aimed at bringing in a higher standard of consumer protection in retail financial markets, the proposals are considered one of the biggest shake-ups in the […]
How speech analytics will help organisations meet FCA new consumer duty of care responsibilities

In May 2021, the Financial Conduct Authority released a consultation paper on the new Consumer Duty in an effort to “set higher expectations for the standard of care that firms provide to consumers.” In reality this means protecting customers in four specific areas: Information provided to customers to enable them to make informed decisions. Fair […]
8 ways NLP can help to deal with a vulnerable customer

In this digital age, technology is making our lives easier in many ways, from asking Alexa to add milk to your shopping list, Netflix suggesting a new show it thinks you’ll love and even self-driving cars. Technology in the workplace has made employees more productive than ever before by streamlining tedious processes, making working from […]
Customer Vulnerability and the Utilities Industry 2021

In this blog, we take a look at customer vulnerability in the Utility Industry 2021. We give insight into the current landscape, what the challenges are and where we see things heading in the next few months… According to Energy UK, around £13 billion is invested every year to deliver power and energy to […]
8 ways we’ve embedded the FCA’s guidance on the fair treatment of vulnerable customers into our voice automation platform

The FCA recently released its final guidance for firms on the fair treatment of vulnerable customers. Whilst this guidance has been widely welcomed as a long overdue step in the right direction to better identify, protect and serve all customers, in particular, the most vulnerable within our society, it has got the Financial Services (FS) […]
Does technology safeguard or exploit vulnerable customers?

We’ve become increasingly dependent on technologies such as mobile phones, computers, and game consoles to get through our day-to-day lives and for many, living without these would be unmanageable. On average, adults spent 6 hours and 25 minutes on phones, watching TV and using computers/laptops in a day, resulting in 45 hours (about 2 days) […]
5 ways to turn risk and compliance from a cost to a value add

Viewing risk and compliance functions as hindrances is a common and, some would argue, valid interpretation. More nuanced, is the interpretation that risk-management and compliance are hurdles that help to keep the industry healthy. But here at Aveni, we think it can be even more than that – an opportunity to use risk and […]