Insights: FCA Vulnerable Customers Review – 2025 Update – Webinar

Summary of the FCA webinar following their review of firms processes for customers in vulnerable circumstances.
https://webinars.fca.org.uk/the-vulnerability-review-findings/join
Summary:
The FCA outlined their findings from a review on how firms are supporting consumers in vulnerable circumstances, building on their 2021 guidance. The review includes insights from firms, consumer research, and expert consultations, exploring how vulnerability is being addressed across various dimensions of financial services. The report also highlights areas where further improvements are needed, such as better product design, more effective outcomes monitoring, and greater integration of vulnerability considerations throughout firms' operations.
Key Takeaways:

Progress: Many firms are making meaningful improvements in supporting vulnerable customers, particularly in response to the Consumer Duty.
Vulnerability is Dynamic: Identifying and addressing vulnerability requires continuous adaptation as ne...