Introduction to Consumer Duty (UK)
Duration10'
No. of mini-lessons3
ResourcesInfographic
Duration 10'
No. of mini-lessons 3
Resources Infographic
Course overview
It can be easy for your employees to forget that customers don’t understand the products they work with as well as they do. If they worked in a shop or supermarket, this might not have such a significant impact on the customer. But in finance, if a customer doesn’t have all the information they need, it can cause serious harm.
To make sure the customer’s needs are always prioritised, the FCA has introduced Principle 12 – The Consumer Duty. It’s a new principle that’s stricter than the other FCA principles and aims to raise standards across the retail finance industry. It sets out rules your employees must follow to improve customer care and make good customer outcomes a top priority.
What's covered
The cross-cutting rules and how they relate to the 4 outcomes
The 4 outcomes in the Consumer Duty and how to achieve them
How to encourage a customer-focused culture
Why your teams need this course
This course is ideal for those working in the financial sector, following FCA rules when handling regulated products or services, as it covers the Consumer Duty, explains the 4 outcomes, and the cross-cutting rules. It’ll also give them useful advice on putting the Duty into practice, to build a customer-focused culture in the business they work for.
