The FCA's announcement that financial services firms will be issued with new guidelines on 'digital disclosures' in 2017 shows the industry needs to adapt to the changing channels and technologies through which consumers engage with information, writes Peter Smith.
In the UK alone, £2.9bn a week is transferred using banking apps and 10.5 million banking apps are logged into each day, according to a study by the British Bankers Association and EY. This highlights not only how technology is rapidly driving the transformation of the financial services sector but also how consumers are moving away from traditional methods of engagement, such as paper-based communication, and service providers are now opting for alternative methods of communication. The FCA plans to produce and consult on effective disclosure and digital disclosure in 2017. This tech...
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