UK financial services providers are faced with new regulatory expectations to treat vulnerable customers fairly.
The FCA now requires firms to “monitor and assess whether they are meeting and responding to the needs of customers with characteristics of vulnerability, and make improvements where this is not happening.”
This means firms must take steps to spot signs of vulnerability in all customer interactions. And of course, many of these interactions take place in contact centres – where they’re also recorded for future review by customers and regulators if necessary.
It’s crucial, for customers as well as the firm’s own reputation, to make sure that every conversation indicating vulnerability is dealt with appropriately.
Download this short, helpful guide to identifying and treating vulnerable customers, provided by our friends at Voyc.