Chris Read explains how modern portals can help ensure new Consumer Duty obligations are fully discharged by providers and platforms
By 31 July, in just a few months' time, providers and platforms will need to have systems and processes in place for gathering and analysing a great deal more data about their policyholders with a view to discharging their new Consumer Duty-linked responsibilities efficiently, effectively and in a way that can be audited by the regulator if necessary. In essence, providers, platforms and advisory firms will have to do the following with a view to achieving better outcomes for customers: Provide clear and timely information about the products and savings they have so they can make in...
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