Support services provider MorganAsh and payments platform Moneyhub have joined forces to help firms understand, monitor and deliver good outcomes for vulnerable customers, in-line with the requirements of Consumer Duty.
The partnership will see MorganAsh using Moneyhub's ‘Open Banking' and ‘Open Finance' platform to access customers' financial data with their explicit consent to assist with the real-time assessment and monitoring of consumer vulnerability. MorganAsh said the newly accessible data would help highlight changes in behaviour and specific lifestyle indicators such as gambling or changes in employment, which could all be triggers for intervention by financial services firms. According to MorganAsh, this option will be included within the MorganAsh resilience system, MARS. The broker tool l...
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