FCA reveals ten types of consumer in bid to drive product design

The FCA's Consumer Spotlight includes descriptions of ten consumer segments based on financial characteristics and behaviour, with a focus on the capabilities and potential vulnerabilities of different consumer groups. The regulator said it has made the data public so firms can use it to design products to suit their customers but it added there is "no obligation for anyone to use this data". The FCA said it has been using the model to build a deeper understanding of consumers' attitudes and behaviour, and what influences them when they make financial decisions. The FCA's consumer ...