Ensuring compliance with the FCA’s transformative new Consumer Duty looks set to become a permanent fixture of firms’ regulatory priorities for years to come.
Despite this, there has been concern from many corners of the industry as to how businesses can sufficiently evidence good outcomes without drastically expanding the time, budget and resource allocated to reviews and audit trails.
With the incoming regulations placing such emphasis on accountability and consumer protections, it’s inevitable that firms will have to step up their supervision and oversight across the entire business lifecycle – ensuring robust and effective quality assurance across the sales, service, advice and collections process.
So, what’s the solution?
In our new whitepaper, we take a closer look at how post-conversation Compliance Analytics can help firms meet their new Consumer Duty obligations without the need to expand their compliance teams.
With our Consumer Duty guide, you'll learn:
—Why AI-powered post conversation compliance analytics provides a critical extra line of defence to avoid potential consumer harm
— How you can remove reliance on random sampling for QA and shift to a 100% oversight model to gain greater insight on compliance and conduct risks
— How to implement a targeted risk-based QA approach that levels up your compliance strategy