ROAR Insights

INSIGHTS ¦ FCA Consumer Duty: the art of the possible in a year

Summary of the speech by Sheldon Mills, Executive Director, Consumers and Competition, delivered at KPMG. Summary The Financial Conduct Authority (FCA) has made significant strides in implementing the Consumer Duty for open products, with a looming deadline for closed products compliance. Key initiatives include publishing a small firms survey and a good and bad practice guide, aiming to foster an environment conducive to healthy competition and innovation within the financial services sector. The FCA emphasizes the importance of prioritizing areas… Read more

[EVENT] Intelligibility: Designing communication to support and get results – embedding intelligibility in the debt management sector

Date:    21st February 2024 Time:   10:00 – 11:30am Details Designing communication to support and get results – embedding intelligibility in the debt management sector Supporting customers is not always easy. However, if you can’t understand their needs and explain the options generating good customer outcomes is tough.  Evidencing you have done so even tougher. In today’s, regulatory driven, world clear, intelligible, communication is critical.   Yet, how do we do it, know it is working and evidence that… Read more

INSIGHTS ¦ Adapting Messaging for Modern Consumers

Kevin Still discusses the significant developments in the implementation of consumer duty regulations by the Financial Conduct Authority (FCA) around expectations, progress since the regulations were put into effect in July 2023, and the increased focus on areas like clarity of communication, vulnerability management, and training. Key Points Implementation of Consumer Duty: The FCA has been active in implementing consumer duty regulations since July 2023.Focus on Vulnerability Management: Special emphasis is placed on managing consumer vulnerability and improving communication quality.FCA… Read more

INSIGHTS ¦ Banks Increasingly partnering with Fintechs

Link: Summary The Bain & Company brief titled “United We Thrive: The Untapped Power of Bank-Fintech Partnerships” delves into the growing imperative for banks to accelerate digital innovation through partnerships with fintech companies. Highlighting the mutual benefits and challenges, the document emphasizes that successful collaboration requires more than just technological integration; it necessitates strategic alignment, clear objectives, and shared commitment between banks and fintechs. Key Points Banks are increasingly partnering with fintechs to enhance digital product design, market speed,… Read more

[INSIGHTS]: Reforming the Consumer Credit Act Consultation

Summary of the new consultation regrading reform of the Consumer Credit Act: link Summary The UK government is planning to reform the Consumer Credit Act (CCA) to ensure that it remains fit for purpose and effective in protecting consumers. The government has received feedback from stakeholders on how the CCA should be reformed and has published a report summarising the key themes emerging from the responses. The report outlines the government’s next steps and how it will engage with stakeholders… Read more

[INSIGHTS]: Debt Collections Global Survey Webinar

Summary A recent webinar, hosted by Chris Warburton from ROStrategy and Marios Siapas from Exus, delved into the latest trends in the collections and recovery industry, based on a comprehensive survey conducted in Q3 of 2023. The webinar offered valuable insights into the evolving landscape of collections strategies, the impact of economic factors, the integration of technology in collections processes, and the industry’s approach to customer engagement and vulnerability. Take part in the survey to get the final results ->… Read more