April 24, 2024
The challenge
Davies were asked to assess and recommend how to close gap on FCA vulnerable customer regulation requirements. 2-year program stalled under BAU pressures, complex approach adopted hampered business efficiency, and needed a more pragmatic approach to manage vulnerability effectively.
Our approach
Delivered a 12-point assessment to uncover service gaps.
Identified multiple areas to improve standards.
Designed pragmatic solutions to satisfy FCA vulnerable customer regulation.
Built governance and formed joint-delivery team represented by key functions.
Mobilised, delivered and led business to initiate full roll-out in 10 weeks.
Davies created a simple and clear way to manage vulnerable customers.
Our impact
- Now have a method & framework to track & manage customer vulnerability & distress
- 100% of contact benefit from assessment resulting in 5% contact reduction
- The implemented framework has raised the bar for all services
