This webinar is for those working within building societies or small banks.
Building societies face complex challenges when it comes to identifying and supporting vulnerable customers. Many vulnerabilities are hidden and go far beyond what credit scores or open banking data can reveal. Advisers and agents may feel uncomfortable asking personal or sensitive questions, making it easy to overlook critical needs, even during face-to-face interactions. This is further complicated by inconsistent internal approaches or recoding processes that often lack structure, making it difficult to build a clear, actionable picture of customer vulnerability.
Training can help bridge some of these gaps, but it is often costly and still leaves people uncertain about how to act when they identify a vulnerability. All of this is unfolding under increasing regulatory pressure to demonstrate fair treatment and provide clear evidence of good outcomes, and loosening of affordability criteria. At the same time, a lack of insight into underserved but financially resilient customers means societies may be missing lending opportunities that could benefit both the society and the consumer.
These are significant challenges, but many firms aren’t just getting to grips with customer vulnerability – they are turning it to their advantage.
This webinar looks at how firms can accurately identify their vulnerable customers. It demonstrates how customers willingly disclose vulnerability information when assessments are structured and framed correctly. We examine how to manage customer vulnerability over time, how to offer support when a vulnerability is identified, and how to instantly obtain detailed management information to help your business – or to provide to the regulator.
We look at the specific challenges for your sector – and show how firms are already overcoming these.
Chris Adlard
Chris is Director of CX and Compliance at Elephants Don’t Forget, a leading AI platform that helps drive employee competency. Chris is a multi-award-winning CX, compliance and marketing leader and co-author of The Customer Catalyst. He has previously worked as Consumer Duty Manager at Newbury Building Society and Senior Director of CX for FIS Worldpay. Prior to that, he led customer advocacy in EMEA at Virtusa, Customer Experience at CPA Global and Customer Engagement at Finastra.
James Edmonds
Consumer Duty consultant at MorganAsh, James works with firms in the financial services sector, to help them understand and overcome the many customer vulnerability challenges with the FCA’s Consumer Duty regulations. James has extensive knowledge in customer experience, of which identifying, supporting and communicating with vulnerable customers is a key component. James has operated in customer experience and strategy roles primarily in financial services for nearly 20 years, having worked at L&G, RSA, More Than, JUST, James Hay and Nucleus.
Andrew Gething
Andrew is the founder and managing director of MorganAsh. He is a highly successful entrepreneur who has taken an IT start-up through growth and profitability to successful acquisition and floated a private computer games company on the London Stock Exchange. Andrew is a recognised consumer vulnerability specialist and champion, is the driving force behind the award-winning consumer vulnerability management tool, MARS.