Transforming Customer Wellbeing

The FCA expects firms to embed the fair treatment of vulnerable customers into their culture at all levels and has made explicit its intention to hold firms to account where they are judged not to be doing enough to meet the expectations set out in the Guidance.

A key FCA expectation is that firms ensure that their culture focuses staff, products, services and processes on the fair treatment of vulnerable customers and that the outcomes achieved for vulnerable customers “are at least as good as those of other consumers”.

To demonstrate that they have thoroughly embedded consideration of vulnerable customers into their culture, firms will need to demonstrate that:

  • they have an understanding of the needs of their vulnerable customers and of the harm that can arise if these needs are not met;
  • staff have the necessary knowledge, skills and capability to meet those needs; and
  • their understanding and analysis of vulnerability has been translated into practical action at key points of the product lifecycle and customer journey, including product and service design, customer service and communications.

As customer experience becomes the basis for competitive advantage, having access to real-time customer intelligence is critical to understanding and supporting your customers, particularly those who are vulnerable.

Our mobile app uses digital messaging enabling your customers to record real-time, how they are feeling and why.

 

The customer support database provides you with the tools to measure, monitor and support those customers that need help the most.

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