[INSIGHTS] : Finalised FCA Guidance on the Fair treatment of vulnerable customers

This is the latest guidance from the FCA (Feb 21) around the treatment and guidelines for treatment of vulnerable customers. This document contains the detailed guidance and examples for use by firms in the UK.

Finalised Guidance on the Fair treatment of vulnerable customers

Summary
The document is a part of the Financial Conduct Authority's guidance for firms on the fair treatment of vulnerable customers. It emphasizes the importance of delivering appropriate customer service that responds flexibly to the needs of vulnerable consumers. The guidance covers various aspects of customer interactions, including assessing vulnerability, recognizing communication needs, providing tailored support, and monitoring outcomes for vulnerable customers.
Key Summary Points

Firms should build flexibility into existing customer services to meet the individual needs of vulnerable consumers.
Staff should be empowered to adapt their approach, taking extra time or flexible steps to respond to vulnera...