5 ways Financial firms can improve consumer understanding

Ensuring consumers are provided with the information they need, in a way they understand to make informed decisions about financial products and services is no longer optional. The FCA has made this clear in their Customer Duty of Care Proposals (CDC).    Financial services providers have a serious responsibility to their customers that they don’t […]

How firms can apply Consumer Duty of Care to Existing Services

It’s no longer news that the FCA announced the new Consumer Duty of Care (CDC) proposal to help provide a higher standard of service and fairer outcomes for customers. While it may be easier for advice firms to make new services compliant with the regulations, there’s still a question mark over existing services. Does the […]

Why Board Members Should Prepare for the Consumer Duty of Care Changes

The FCA’s new Consumer Duty of Care proposals have been causing a bit of controversy since they were first announced in December last year. Although the aim is to help provide a higher standard of service for customers, which is absolutely something we should be aiming for, the short deadline and lack of clarity around […]

10 ways Natural Language Processing (NLP) will change Financial Services

Artificial Intelligence (AI) and Machine Learning (ML) have made a notable impact on many industries in the last decade. Leveraging advances in computing power has enabled industries such as retail, e-commerce, education and healthcare to improve effectiveness and efficiency in reducing customer churn, improving learning and development and bettering the understanding of customers’ needs. Despite […]

Financial Services: The future of work after a pandemic

Financial Services: The future of work after a pandemic

Firms are shifting towards a new way of working, what will this mean for businesses and employees?  Let us tell you more about these predicted changes and how they’ll shift over the next few years as well as how they may potentially impact your business… The COVID-19 pandemic has changed our lives and the way […]

New Consumer Duty: FCA New Consultation Commandment

The Golden Rule. It’s taught on our first day of school – treat others as you would like to be treated. This fundamental and central principle to living in society is the driving force behind the FCA’s Consumer Duty consultation paper. Sparked by the FCA’s 2020 Financial Lives Survey which highlights that only 35% of […]

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) […]

Is Risk & Compliance switching on to Artificial Intelligence?

It’s inescapable that over the last few years that the power and promise of Artificial Intelligence (AI) has permeated so many aspects of our working lives – both invisible and many less obvious ways. It’s only comparatively recently that the Financial Services (FS) sector has begun to tune into the potential it promises. It can […]