“With 53% of all PayPlan clients disclosing a vulnerability, it’s really important that those seeking help with debt receive compassionate support and advice that is tailored to their needs and circumstances. We’ve made tremendous progress at PayPlan in providing dedicated support to vulnerable clients and helping them to write off considerable amounts of debt through our dedicated Vulnerable Client Team. Integrating MARS is an exciting step in our journey to help us to build a complete picture of each client at outset and through their debt journey, as well as to report accurately on our findings. We’re thrilled to partner with MorganAsh for this project.”

Emma Gibbons, PayPlan

Assessments are easy. People are happy to fill it in and we’ve never had anyone who’s refused. The clients see that we do it to care for them, rather than just lend and take the profit. I love the charts and graphs. It’s now part of my workflow and works well. The push towards supporting vulnerable customers is a good thing for the industry. In some ways we were doing it, but now we can quantify it and demonstrate it.

Danny Thomas, Clocktower Support

“I got a good response from about 80% of people, which tells me that the system is quick, reliable and easy to use. In the end, around 90% of the assessments were completed online and the rest I went through personally, with the client, using the MARS questionnaire. I get detailed monthly reports. Like everyone, I think I know my clients, but MARS highlighted some with significant vulnerabilities – clients with alcohol dependency issues, and clients who have had cancer. Those stood out, but there is a wealth of detail across the board. As much as you can ask all the questions and may be doing good fact-finds, the MARS assessment brought out information that I just didn’t know. MARS puts me in a far better position than before. I didn’t have any information like this, or evidence of client vulnerabilities.”

— Paul Russell, chartered financial planner

”The MARS vulnerability report provides valuable live data as to whether a client will get health-rated for life insurance and/or permanent health insurance. It also allows vulnerability tracking throughout the conveyance – which is vital under Consumer Duty.”

— Mike Kellett Cert PFS Cert CII(MP) Cert ReR, director, Forbes Consultancy

“Since using MARS, I have discovered more characteristics of our clients – even though I have known them for years. It also allows our business to give clients a platform to voluntarily let us know if they may be temporarily vulnerable, so we can meet their needs.”

— Sam Whybrow CFP AFPS RLP, chartered financial planner

“Consumer Duty holds many challenges for providers and intermediaries; however, it also offers opportunities to reinforce the importance of insurance and the benefits to the consumer. Monitoring the changes in an individual’s circumstances is key in achieving the best outcome and maximising those opportunities.”

— Mike Perry, former CEO, PG Mutual

“Firms will need to use new sources of data, including open banking transaction data, to identify vulnerability in real time and to intervene accordingly.”

— Simon Ripton MBA, Proposition Development Manager, Moneyhub

”As part of our continued efforts to support customers in achieving financial resilience, it’s important we have the right tools and providers. MorganAsh has proven to be an integral partner for more than a decade – and a key component in this achievement. This is a positive step forward in eliminating inconsistent outcomes and potential harm for consumers and ensuring that we always provide both the best advice and the best products for every client every time.’

— Nici Audhlam-Gardiner, CEO, Foresters Financial UK

“Can I just say, this is one of the best products or services I’ve seen for a long while! I really think this service is fantastic and will look to promote you where I can.”

— Deborah Ware, consultant

“The FCA’s drive on looking after vulnerable customers is set to change how we manage our customers. To many, this looks a daunting task. The MorganAsh MARS tool should make its implementation far easier.”

— Steve Devine, Protect Association

”Delivering fair outcomes for vulnerable customers inevitably requires the effective use of technology. The MorganAsh MARS tool offers firms an outsource capability and credible solution to achieve that aim and deliver proportionate support and fair outcomes.”

— Jonathan Warren, head of innovation, Altus

”We are very happy to be working with MorganAsh. They are taking some great strides with their MARS tool, in the financial services sector, towards really making a difference to how vulnerable people are treated.”

— Helen Lord, CEO of the Vulnerability Registration Service

”Supporting consumers in vulnerable circumstances is hugely important, so we are thrilled to be able to provide our partners with groundbreaking technologies that quickly spot signs of financial vulnerability which will ensure our clients receive the best possible support. Not only does this lead to a better outcome for clients, but it provides much-needed support for advisers navigating some of the complexities in supporting vulnerable clients.”

— Edward Grant, director of SJP’s Technical Connection division and leader of the partnership’s efforts to support vulnerable clients

“Good practice principles and the use of fintech, such as the MorganAsh MARS tool, can greatly improve our ability to assess, store and communicate vulnerability across and between organisations.”

— Keith Richards, chair of the Financial Vulnerability Taskforce

“To meet vulnerability and impending consumer duty requirements, firms need to understand the characteristics of their customers – and be able to manage and report the conduct risk. A move to more structured assessments that can provide consistent and objective data will provide management information that firms can utilise. The resilience rating within the MARS tool would appear to be a positive first step.”

— Robert Sinclair, chief executive at Association of Mortgage Intermediaries

“Our LexID technology gives us the most accurate view of the UK’s adult population, with each individual’s data history consolidated into one unique record identifier. As our database grows, newly discovered information can be added and appended to records providing a consistently accurate and up-to-date view of individuals’ personal information. We are pleased to support MorganAsh to bring this intelligence and ongoing data monitoring to their innovative MARS platform. Both companies are well-aligned in our passion for delivering robust, high-quality solutions to help firms stay compliant and make better business decisions.”

Alan Clay, LexisNexis Risk Solutions

Customer vulnerability