2023 has been a challenging year for businesses and customers alike. Economic conditions have been tough, unpredictability has been a watchword – and customer satisfaction has taken a sharp decline. But what will 2024 hold? On one level, I fear…
The arrival of Consumer Duty earlier this year is a clear sign that the FCA is placing a greater emphasis on all aspects of the customer journey and in particular on positive outcomes for customers. In the face of falling…
There is never a good time for a business’s systems to go down, but outages at a major bank last week proved particularly unfortunate timing. With customers on the lookout for Black Friday deals ahead of the festive season – or just…
Some of you may be surprised to hear that we’re already more than three months on from the start of Consumer Duty, the new regulation which gave the Financial Conduct Authority (FCA) regulatory powers to set higher and clearer standards…
This past week we saw an all-too familiar story in the UK headlines – a weekend of disruption, confusion, and ‘chaos’ for holidaymakers and travellers alike due to an air traffic control issue across the country. Following a spring and…
We are just three weeks into the start of Consumer Duty, the Financial Conduct Authority’s (FCA) new powers to set higher and clearer standards of consumer protection. But if firms thought they’d get a summer grace period with the new…
Whether we notice it or not, regulation touches many parts of our daily lives. It is an important aspect of businesses within regulated sectors, designed to ensure fairness protect consumers, make organisations accountable and reduce systemic risks for the long-term…
The banks failed to warn some customers that they had fallen into the red and were liable for penalty fees
An investigation has found that the organisation tried to 'silence' affected customers and was slow to correct the problem
The move by the industry watchdog comes after a series of recent failures by suppliers