Understanding vulnerable consumers
Consumer vulnerability is nothing new. Whilst, over the years, there’s been good progress made by Financial Services in identifying and supporting vulnerable consumers, further improvement is still needed and this is a key focus of the regulator, the Financial Conduct Authority (FCA).
The FCA published a discussion paper to the industry that highlighted the further work by all firms in how they support vulnerable consumers along with recommendations on how this could be achieved. They invited opinions and comments from the industry on this, with a view to cementing a firm commitment to improve cultural and behavioural approaches to dealing with vulnerable consumers.
Our response:
Having reviewed our current content (Enhancing the experience for vulnerable customers), we felt an enhanced course was needed in order to better support your learners in being able to drive the changes needed in culture, behaviour and understanding of dealing with vulnerability.
So, we are pleased to announce the launch of our new and improved course ‘Understanding vulnerable consumers’
This course covers the following areas:
- Why firms should support vulnerable consumers
- How this makes a difference
- Financial Inclusion
- Drivers of vulnerability
- Consumer disclosure (using TEXAS / IDEAS and CARERS models)
- Interactive case studies on handling consumer disclosures
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If you subscribe to our Governance, Risk and Complaince catalogue here are the things you need to know:
WE ARE ARCHIVING THE LEGACY ‘ENHANCING THE EXPERIENCE FOR VULNERABLE CUSTOMERS’ PATHWAY.
In our legacy pathway we have the following activities:
- Do you know who your vulnerable customers are?
- Key information
- Putting the models into practice
- Enhancing the experience for vulnerable customers - Assessment
As this content is being archived, it will no longer be supported, updated or maintained. Where users have been registered to the legacy content, this will remain in users‘ ‘My Activities’ even after archiving. Users will either need to complete the activities or administrators will need to cancel the registrations. Find out how to cancel a user from an activity here
The legacy content will also remain in existing pathways, for example those created and used for induction, until they are removed. Find out about archiving activities here
You may also want to then add the new activities to those pathways. Find out how to add content to pathways here
Where learners have already completed these courses, the CPD achieved will remain.
If any assistance is required on any of these actions, please visit Unicorn Help or contact the team here.
If you do not subscribe to our GRC catalogue, please contact your Account Manager for more information about our Understanding vulnerable consumers course. Alternatively you can get in contact with us here: Unicorntraining.com (part of the Access Group) or get in touch at [email protected] or call us on 0800 055 6586.
