DEMSA Newsletter ¦ Summary

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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See also  DEMSA Summary: IVA voting / MaPS updates / FCA regulatory round-up / Collaborations / Events