Clients and customers largely unaffected by Consumer Duty

'Firms often don't know where to start, but it is always with the data'

Cameron Roberts
clock • 1 min read

Consumer Duty has had a limited impact on clients customers, with 41% noticing no change to their treatment since July 2023, Moneyhub has found.

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...

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