The purpose of Consumer Duty is to set a higher standard of care and deliver better consumer outcomes for wealth management and insurance businesses. The overarching principles are set out to change how products and services are evaluated, priced, explained and supported. Notably, Consumer Duty prompts the industry to recognise the need for high-performance data management, processing and analysis.
This latest video explains how solutions such as OutRank® promote compliance, help to achieve required standards of care for orphaned clients and foster customer engagement and improved data management.
