Event

Leveraging technology to fulfill consumer duty obligations

Thursday 10th of November
14:00 GMT

The new Consumer Duty from the Financial Conducts Authority comes at a time when the pandemic and dislocations in the industry have already accelerated changes in customer expectations and continually increased customer power across financial services.

Given that backdrop, how can financial services institutions (FSIs) leverage the power of technology to change their approach to fulfilling their obligations from one that is compliance-centric to one that is customer-centric?

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Join us for a lively discussion on how FSIs are viewing the overlap between compliance and CX technology to fill the information gaps in their quest towards complying with the Duty and delivering good customer outcomes.

Supporting your roadmap to compliance with the Consumer Duty - The types of data/information Medallia can help firms gather

Type of information

Examples

Can Medallia help?

Business Persistence

Details of why customers leave

✓

Behavioural Insights

Use of different communications channels including digital; Consumer testing of user interfaces and designs such as websites

✓

Training and competence records

Records of staff training

✓

File Reviews

Reviewing customer files

✓

Customer Feedback

Formal and informal feedback from customers

✓

Number of complaints

Trends in number of complaints

✓

Complaints root cause analysis

Cause of customer complaints

✓

Results of testing and monitoring

Outcome testing across the four outcomes rules

✓

Feedback from other parties in the distribution chain

Feedback from distributors

✓

Researching or testing customer experiences

Focus groups and deep dives

✓

Allowing staff to feed back honestly

Staff feedback

✓

Distribution of products/pricing and fees and charges

Review of groups of customers from a Consumer duty perspective

✓

Compliance Reports

Review of compliance reports

✓

Reviewing of processes and policies

Review reports

X

Drawing on external sources of data about consumer outcomes

External third-party independent think-tank reports

X

Speakers

Medallia

Greg Philiotis
Head of International,
Medallia
LinkedIn Profile

Medallia

Vignesh Ramesh
Head of Consumer Duty Solutions,
Medallia
LinkedIn Profile

Medallia

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