Firms improving design of products and services under Consumer Duty, FCA finds
The Consumer Duty, which is overseen by the FCA , was introduced in 2023, setting higher standards for financial services customers
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Summary
The Consumer Duty, which is overseen by the FCA , was introduced in 2023, setting higher standards for financial services customers. Financial firms are taking positive steps to design products and services around customers to make them more inclusive and better meet their needs, according to a review by the City regulator into how the Consumer Duty is working. Examples in the review by the Financial Conduct Authority (FCA) included a firm providing mini fridges temporarily to customers who needed one for their medication, and a firm having introduced voice control in its app for customers with dexterity issues.
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The Consumer Duty, which is overseen by the FCA , was introduced in 2023, setting higher standards for financial services customers.
reliability low1/2 sourcesFinancial firms are taking positive steps to design products and services around customers to make them more inclusive and better meet their needs, according to a review by the City regulator into how the Consumer Duty is working.
reliability low1/2 sourcesExamples in the review by the Financial Conduct Authority (FCA) included a firm providing mini fridges temporarily to customers who needed one for their medication, and a firm having introduced voice control in its app for customers with dexterity issues.
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