Driving customer centricity
The countdown is on to 31 July, when retail financial institutions need to start showing they are compliant with the Financial Conduct Authority’s (FCA) new Consumer Duty principle. However, this is not a deadline. This is a movement towards a commonplace customer-centric culture.
Consumer Duty is much more than a tick-box exercise and presents the opportunity for firms to deepen the relationship they have with their customers, thousands of whom will be adversely affected by the cost-of-living crisis.
The aim of the new Duty is to improve the standard of customer care and protection and enable consumers to make the best decisions when signing up for financial products. Firms need to show the FCA that they are working to ensure that good outcomes for consumers are central to their firm’s culture, strategy and business objectives.
How can we help?
Being driven to review so many aspects of the business within tight timescales brings pressure for any organisation. By approaching this as an opportunity to accomplish the often hard-to-do stuff, companies could be moving closer to becoming ‘fit for the future’ data-led, customer centric organisations.
We can match the FCA’s requirements to the clear operational benefits that will be gained from an investment in digital technology and prescribe how organisations can best accelerate the upgrade from expensive and inefficient legacy systems.
We combine advanced analytics, deep financial services and systems integration expertise with an industry-leading intelligent automation practice to deliver the insights, systems and processes you need to over-deliver on the Consumer Duty requirements.
Download our brochure to find out how we can help your organisation quickly meet the regulatory expectations:
