Authentic compliance with Consumer Duty necessitates that firms need to be agile in their approach. As customer needs change, firms need to respond.
We see this with the regulator’s continual focus on vulnerability and the cost-of-living crisis, for example. As a result, firms will need a dynamic and continuous approach to compliance for which embedding the expectations of Consumer Duty into the firm’s culture and people will be paramount.
If you are looking for an affordable quick win that underpins many of the trickier aspects of Consumer Duty compliance, read this paper. Whilst Nelly won’t solve all of your Consumer Duty challenges, she will empower your First Line of Defence so they can confidently act in the best interests of your customers – and you can evidence the same.
Embed Consumer Duty
Evidence the requirement
Go from Consumer Duty confusion to quick wins: