Fairer Finance Webinar Reveals Helpful Consumer Duty Tips

I recently attended this excellent webinar from Fairer Finance with representatives of the Financial Conduct Authority and would encourage lenders and insurers to spend a little time watching the re-run there are lots of practical ideas to think about Consumer Duty

One of the interesting suggestions from the panel was to profile your customer cohorts by profitability. If the most profitable cohort are customers that get charged for behaviour that indicates vulnerability, like missing payments or inability to use digital self-service what does that say about the overall business model where you make less profit if customers pay on time?

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