Last year the Financial Conduct Authority (FCA) issued the ‘Guidance Consultation and feedback statement: Guidance for firms on the fair treatment of vulnerable customers’, an assertive call to financial services to consider the fair treatment of vulnerable customers.
The 109-page document looked to change the behaviour of financial services firms and improve the way they identify and engage with customers who fall into the vulnerable category. The call for new technologies throughout illustrates the need for modern practices such as Open Banking.
In this webinar on 28th of January, at 2PM (GMT), the DirectID team will be unpacking the FCA's ‘Guidance Consultation and feedback statement’, exploring how lenders and financial institutions can better protect vulnerable customers.
We will cover:
- How financial institutions recognise vulnerable and underbanked customers
- Early identification of financial distress
- Digital customer journeys for low literacy applicants
- Utilising data & analytics to protect vulnerable customers
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