AI-based vulnerable customer identification tool launches

Offering comes ahead of Consumer Duty introduction in a few months

Jaskeet Briah
clock • 1 min read

Mortgage and insurance network Stonebridge has unveiled a new functionality to help advisers and appointed representative (AR) firms identify vulnerable customers, in line with Consumer Duty requirements.

The new functionality, based on artificial intelligence (AI) has been added to Stonebridge's wholly-owned Revolution system ahead of the implementation of the Consumer Duty guidelines on 31 July. Working as a series of prompts for advisers to follow, Revolution will identify potential vulnerable customers through the answers they provide at the fact-find stage, the network stated. Revolution will also question whether advisers have considered the indicator of potential vulnerability, prompting advisers to record whether the customer's circumstances make them more vulnerable to harm an...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
 Be the first to hear about our events and awards programmes.



Already a Professional Adviser member?


More on Technology

Jonathan Barrett, chief executive and co-founder of Comentis, said: "Given the continued focus by the FCA on client circumstances within the new Consumer Duty guidance, firms will need to make sure they are adequately supporting their vulnerable clients."

Just Group partners with Comentis to support vulnerable customers

'One in two adults at risk of financial vulnerability'

Julia Bahr
clock 15 August 2022 • 3 min read
The technology helps solve the challenge of reuniting forgotten funds with their rightful owners and simplifies what used to be a long and complicated process, according to the online hub

Online hub Gretel launches to find dormant assets 'in three minutes'

'£50bn to recover'

Julia Bahr
clock 11 April 2022 • 3 min read

Voyant users targeted in email phishing attack

Eight hour lag to inform advisers

clock 10 March 2020 • 4 min read