Match the Cash Limited t/a Guarantor My Loan & Share My Loan – a peer-to-peer lender of loans to consumers, has launched a new product after adopting the MorganAsh customer vulnerability software, MARS (MorganAsh Resilience System).

In the latest update to MARS, MorganAsh has added new functionality to record how and when suggested support (next steps) are recommended to clients, as well as their clients’ reactions and whether they take-up the recommendations.

MorganAsh, a support services provider to the financial services and utilities sectors, has launched a series of workshops on customer vulnerability, to help firms get to grips with the topic and meet the requirements of Consumer Duty.

Fears of assessment bias when identifying customer vulnerability are not only unfounded, but risk delaying progress on both meeting Consumer Duty’s requirements and supporting customers, MorganAsh has warned firms.

Firms hoping the Government’s call to boost growth through regulatory reform will mean cuts to Consumer Duty will be ‘disappointed’, warns MorganAsh.

The Financial Conduct Authority’s plans for a review of how firms are managing customer vulnerability come as “no surprise”, says MorganAsh managing director Andrew Gething.

Firms that are falsely using GDPR as a ‘scapegoat’ for non-compliance with Consumer Duty are risking severe action from the regulator, MorganAsh warns.

Clocktower Support, a specialist financial services firm supporting foreign nationals from Asia, has adopted the MorganAsh Resilience System (MARS) to improve support and financial inclusion among its vulnerable customers.

Identifying and understanding the vulnerabilities of customers became a regulatory requirement in February 2021 for firms. Consumer Duty has renewed this focus and expanded the need to understand and monitor consumer vulnerabilities. Even so, many firms are still trying to get to grips with just how they identify their vulnerable customers.

MorganAsh, the support services provider to the financial services and utilities sectors, has appointed customer experience and customer vulnerability specialist James Edmonds as a Consumer Duty consultant.

The FCA has released its thematic review of general insurance and pure protection and it’s safe to say it’s pretty damning. Not only is the regulator ordering insurers and intermediaries to remove products that do not offer fair value, it is weighing up both supervisory and regulatory action to address these issues, as well as firms that are not able to demonstate good customer outcomes.

MorganAsh, a support services provider to the financial services and utilities sectors, has launched a brand-new customer portal called It's Who I Am, designed to give customers the information and confidence to disclose potential vulnerabilities to firms.

London & Colonial Assurance PCC Plc, a life insurance provider based in Gibraltar, has adopted the MorganAsh Resilience System (MARS) to support its efforts to identify and support vulnerable customers in the UK and internationally.

PayPlan, one of the UK’s largest debt management companies, has adopted the MorganAsh Resilience System (MARS) to better identify and assess vulnerable customers.

MorganAsh, a specialist in vulnerable consumer management to the financial services and utilities sectors, has partnered with FWD Research to further assist firms in meeting the vulnerability requirements of Consumer Duty.

MorganAsh, a specialist in vulnerable consumer management to the financial services and utilities sectors, has partnered with FWD Research to further assist firms in meeting the vulnerability requirements of Consumer Duty.

As with all types of consulting business, financial advisers – not incorrectly – believe that they know their customers. After all, they may have worked with a client for years, watched their families grow up and have their own families. But, according to consumer vulnerability specialists MorganAsh, like vulnerabilities themselves, ‘knowing someone’ isn’t binary.

He succeeds Jim Randal, who stepped down after chairing MorganAsh since its inception in 2004.

Signposting a vulnerable client to a different organisation for help is not enough to avoid potential harm and to meet Consumer Duty requirements, a vulnerability expert has warned.

Firms using vulnerability assessments for Consumer Duty compliance are identifying a large variation in vulnerability across the industry’s key sectors, the latest data from the MorganAsh Resilience System (MARS) has revealed.