09.04.2020

Coming Soon - Understanding vulnerable consumers

Coming Soon - Understanding vulnerable consumers

Welcome to the start of your journey to ‘Understanding vulnerable consumers’ better.

Whilst over recent years there’s been good progress identifying and supporting vulnerable consumers, further improvement is still needed and this is a key focus of the regulator, the Financial Conduct Authority (FCA).

In light of the current challenges we are all facing regarding COVID-19 there is going to be more demand than ever before on support for those who already are and will be facing financial challenges in the coming months.

Identifying vulnerability and dealing with a consumer who is or could be experiencing difficulty in the future is not always easy. It can be emotionally challenging, for both the consumer when disclosing information, and for you as the person who needs to listen and support them.

Your ability to listen to, directly support or signpost your vulnerable consumers to ways in which they can get help to regain control of their finances; will give them the reassurance they need that they are not alone and that there is normally always something that can be done to assist them deal with whatever is making them vulnerable at this time.

Being able to do this can also help you to feel more motivated and confident when having to support consumers through these difficult situations.

Your new improved eLearning for understanding vulnerable consumers is being launched in Q2 2020. Watch out for the launch blog with all the details you will need.

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