MorganAsh, the leading support services provider to the financial services and utilities sector, has added a major upgrade to the algorithms behind the MorganAsh Resilience System (MARS) to better record, measure and support clients with multiple vulnerabilities.
Consumer champion and industry veteran Johnny Timpson OBE has urged the utilities sector to radically improve how it identifies and supports vulnerable customers – calling on firms to go beyond regulatory requirements to provide better and more targeted support, and unlock key commercial benefits.
This webinar is for those working in the debt sector of financial services. Debt firms operate in a space where every client is, probably, financially vulnerable. There is a need to understand the full picture of a customer’s situation – especially when vulnerabilities are complex, layered, or go unspoken.
We look at how one company, which works in the debt-management space, manages its vulnerable customers on a day-to-day basis – taking the FCA’s principle-based Consumer Duty and turning it into practice.
Customer vulnerability specialists from MorganAsh also speak regularly at industry events. View speaking events
The Chancellor Rachel Reeves has stated her intention to cut red tape in the financial services sector to help accelerate economic growth. She has called regulation the “boot on the neck” of businesses – signalling a desire to move to a leaner and less risk averse approach to oversight.
Johnny Timpson OBE’s keynote speech from Utility Week Consumer Vulnerability & Debt Conference 2025 on 18 September 2024.
According to the FCA’s Financial Lives survey, around half of all people are vulnerable at any one time. This seems like a lot – is it accurate? And, if it is so many, what can firms do about it? Many firms are only very identifying low numbers of vulnerable customers – what are they missing?
Elephants Don’t Forget, FWD Consulting, MorganAsh, and the Collaboration Network answer your questions about implementing the FCA’s Consumer Duty requirements on customer vulnerability within your firm.
There is still a great deal of uncertainty about how someone is defined as vulnerable; what a vulnerability is. The FCA’s data (confirmed with live data from MorganAsh’s vulnerable consumer management tool, MARS) shows that around half of all people can be defined as vulnerable. Yet others say that they have only a few per cent of vulnerable consumers. Can this be true? Andrew Gething and Johnny Timpson OBE try to dig into the answers.
While people prepare to report under Consumer Duty, Andrew Gething observes that one of the things many companies don’t understand is that Consumer Duty also requires them to report under the Equality Act. The Act has been around for some years, but many haven’t recognised the part it plays in Consumer Duty. Johnny Timpson OBE shares his thoughts.
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