HOW FINANCIAL SERVICES FIRMS CAN ENSURE THE FAIR TREATMENT OF VULNERABLE CUSTOMERS May 2021IS YOUR FIRM ACTIVELY MAKING VULNERABLE CUSTOMERS’ LIVES WORSE? As someone in the financial services industry, if you’re asked the question above, your answer would likely be a swift ‘no’. You have an excellent staff training programme, a department dedicated to your most vulnerable customers and robust control frameworks to ensure fair treatment of all customers. But let’s ask another question: How do you know your business isn’t negatively contributing to the lives of its most vulnerable customers? This is an altogether more complex question to answer, and unless you’re monitoring and analysing every customer interaction, it’s one you’ll never be able to answer accurately. H

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