"Under the FCA’s new Consumer Duty, firms must consider the needs of their customers – including those in vulnerable circumstances – and how they behave at every stage of the product/service lifecycle. This will assist customers in making good financial decisions and having greater trust in firms.”

Fiona Hoyle, Director of Consumer & Mortgage Finance, FLA  

“New ways of supporting customers in financial difficulty were brought to forward during the pandemic. Digital strategies, the use of smart data analysis, nudges to pay, early offers of assistance, and personalised journeys that reflect each customer’s individual circumstance, were swiftly implemented.”

Brian Smith, Chief Technology Officer, Flexys Solutions

“A key determinant in the near future will be the new Consumer Duty which places a higher standard of care on firms. Lenders will focus on their products and services delivering good customer outcomes with technology, data and people being the critical enablers to drive greater personalisation throughout the end-to-end customer experience.”

Liam Deasey, Director of Loans, Vanquis Bank

"There is a real risk of Sustainability Linked Loans (SSL’s) being used cynically, however they can similarly be weaponised to achieve society’s objectives. Gradually and subtly, sustainability becomes a pre-requisite for obtaining financing and continuing operations, just as good governance has become over previous decades.”

Matthew Buffoni, Investment and Advisory at Cyan Finance