Vulnerable Customers

Vulnerable customer is a complex piece of regulation that impacts across the organisation.

Final Guidance has been published and firms now need to deliver against the Financial Conduct Authority’s objective of fairer access and more consistent outcomes for vulnerable consumers.

Vulnerable customers is a complex piece of regulation, further complicated by the sensitivities connected to identifying and supporting people coping with characteristics of vulnerability. It is a regulatory topic which impacts across the organisation with six summary actions: understanding customers’ needs, customer service, skills and capability of staff, monitoring and evaluation, product and service design and communications. In 2023, the Financial Conduct Authority intend to undertake a review of whether sufficient progress has been made.

Altus has supported our clients to enhance their capability and preparedness to satisfy the regulator.