Consumer Duty
Raising the bar in customer care, with compliance that puts customer outcomes first.
What you need to know
A new standard for customer care
The FCA’s Consumer Duty isn’t just another regulation, it’s a cultural shift. It sets out a higher standard of conduct, requiring firms to deliver consistently good outcomes for retail customers across all products and services.
About the whole customer journey
From product design and pricing to how you communicate and support your customers, the Duty demands a joined-up, evidence-based approach at every stage.
Proactivity and evidence are key
Firms must be able to prove they’re acting to deliver good outcomes, not just reacting when things go wrong. This means data monitoring, reporting, and ongoing reviews are essential.
Non-compliance carries real risk
Firms that fail to embed the Duty risk regulatory scrutiny, reputational damage, and customer dissatisfaction, making compliance not just a legal obligation, but a competitive advantage.
The four outcomes of Consumer Duty
Products & Services
Firms must ensure their products are:
- Designed to meet the needs of specific target customers
- Approved with proper governance and controls
- Marketed transparently and to the right audience
Price & Value
Pricing should be:
- Transparent and easily understood
- Fair and proportionate to the product’s benefits
- Free from hidden or unreasonable fees
Consumer Understanding
Firms must help customers make informed decisions by:
- Communicating product features, terms, and risks clearly
- Recognising and responding to customer needs (e.g., offering non-digital communications for those without internet access)
- Explaining key risks so consumers are not mislead by overly complex, technical, or vague language.
Consumer Support
Support should be:
- Accessible, responsive, and tailored to customer needs
- Sensitive to vulnerabilities such as illness, bereavement, or financial hardship
- Designed to help customers use products as intended and achieve fair outcomes
How we help
Documented frameworks & templates
Clear, FCA-aligned tools to structure your approach and demonstrate compliance.
Board reporting packs
Customised reports that support governance, oversight, and strategic direction.
Compliance gap analysis
Benchmark your current activity against FCA expectations to identify risks and improvement areas.
Ongoing support & embedding
Guidance and practical help integrating Consumer Duty into your product lifecycle, communications, and customer journey mapping.
Get in touch, it's free to chat...
Give us a call on 01792 926 040 or fill out the form and one of the team will be in touch.
Alternatively, feel free to connect with us on LinkedIn.
