What you need to know this week
- Bank of England may cut interest rates at its next meeting on 1 August 2024.
- Aryza has acquired IVA Watch Limited (t/a Watch Portfolio Management) as of early July 2024.
- The FCA has published its pay gap report for 2024, indicating a positive trend over the past three years.
- A Gartner survey revealed strong consumer resistance to AI in customer service, highlighting the preference for human interactions.
- The Debt Advice Handbook Scotland has been launched to support financial advisers with comprehensive legal and procedural guidelines.
- Sir Stephen Timms has been appointed as Minister of State for Social Security and Disability, effective 8 July 2024.
- The FOS received a significantly higher volume of complaints this financial year compared to the previous one.
- The future of Buy Now, Pay Later (BNPL) is under scrutiny, with calls for ethical debt collection practices.
- Significant changes are being considered for Target Operating Models in Contact Centre as a Service (CCaaS) deployments.
- Financial Ombudsman Service (FOS) complaints about the banking sector are at a decade-high.
- Upcoming FCA webinar on Consumer Duty scheduled for 31 July 2024.
- IPA conference on personal insolvency set for 28 November 2024.
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