Event Summaries

Interesting discussion and reflection from the FCA 1 year on from the implemenation of the consumer duty for open products and as the same for closed products goes live. For similar summaries and updates subscribe to the RO-AR.com newsletter. Key Points The Financial Conduct Authority (FCA) has successfully implemented the Consumer Duty for open products, and now for closed products as well, aiming to enhance consumer protection and industry standards.The Consumer Duty is designed as an outcomes-based regulation to foster… Read more

Once again it was great to host the latest Credit Connect Technology Think Tank. There was some really insightful discussion and ideas this time around. For similar summaries and updates subscribe to the RO-AR.com newsletter. Session 1: Collections Communications and Engagement Key Takeaways Transition towards digital-first customer engagement strategies in collections.Emphasis on customer control over engagement and account management.Integration of open banking faces challenges in consumer trust.Shift from outbound calling to more efficient digital communication methods.Importance of personalization in customer… Read more

It was great to be at the TCN hosted and CICM supported event last week in Glasgow, largely talking about all thinks AI for the industry, where we have come from and where we are going. Definitely some cautious optimism, but also lots of sensible views on how and where to make progress, and the reality of implementing in an industry such as financial services. For similar summaries and updates subscribe to the RO-AR.com newsletter. Key Takeaways [Summary] Session 1… Read more

Interesting discussion with Kevin Still, an update on Consumer Duty deadlines and also some of the recent questionaires being released by the FCA. What to expect and what does this mean longer term at it links to the Consumer duty rollout.If you are interested in completing the vulnerability readiness assessment this is available here. For similar summaries and updates subscribe to the RO-AR.com newsletter. Key Takeaways Significance of Recent FCA Actions: The FCA’s fines on HSBC (£6 million) and Marks… Read more

More updates like this from RO-AR.com: Subscribe Link: Consumer Duty Services Another interesting dicussion with the Consumer Duty Services team, reviewing some of their data around what drives and predicts sustainable arrangements for IVAs.Your can still register here to watch the event on playback. Summary In a recent webinar focused on Individual Voluntary Arrangements (IVAs), creditor behaviours, and the impact of regulatory changes, notably the Consumer Duty, a panel of experts from Consumer Duty Services provided an insightful overview of… Read more

More updates like this from RO-AR.com: Subscribe Link: Credit Connect Once again it was great to be able to chair the Lending Technology Think Tank. A couple of interesting new ideas and discussion this time around.From Session 1. Risk appetite is not changing yet, but there is opportunity for growth by looking at the data, and new data, in detail. Can we assume the same level of government intervention we have had for the last few years and how do… Read more