Consumer Duty requirements were launched by the UK’s Financial Conduct Authority (FCA) in June 2023 and for the financial services sector represent legally binding regulation. But what does this actually mean?

The requirements are non-negotiable; if you’re operating in the financial services market, you have to be compliant and show evidence of the fact. Further, in a world increasingly focussed on customer experience (CX), even if your organisation is outside of the financial services sector, following the Consumer Duty principles will ensure you have a finger on the pulse of what your customers think about your organisation’s products and services. And this can help you deliver better service to customers.

This article specifically focusses on how the contact centre (and conversation intelligence) can assist your organisation in complying with Consumer Duty. From the board all the way through to marketing, sales, service, and more, every aspect of your company should be considering Consumer Duty.

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This article was first published in the 2024 Best Practice Guide - Shaping the Future

To download a full digital copy of the Best Practice Guide, click here.