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 that 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.
Andrew Gething
Andrew is the founder and managing director of MorganAsh. He is a recognised consumer vulnerability specialist and champion, is the driving force behind the award-winning consumer vulnerability management tool, MARS.