Clients and customers largely unaffected by Consumer Duty

Research published yesterday (9 July) polled 2,000 clients and customers of UK financial services firms showed less than a quarter (22%) had seen improvements. Despite this, 42% said they believed Consumer Duty would have a positive impact on products and services. The positive notes were that customers were hopeful that Consumer Duty would impact them in the future, 40% think it will have a big impact on customer servicing, and 36% think it will drive banks to become more customer-centric institutions. Customer outcomes need to be improved, according to the research. Of those ques...