Consumer Duty: Was it worth it?
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Consumer Duty: Was it worth it?
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For our eighth episode, we're delighted to be joined by Keith Richards, founding director and CEO of the Consumer Duty Alliance (CDA), for a discussion on industry progress, pain points and challenges 12 months into compliance (as of July, 2024).
No other jurisdiction worldwide has seen fit to mandate customer centric transformation in the way the Duty has, begging the question: do we have this new regime because UK banks have been unable, or unwilling to deliver it voluntarily? Or is the new regime in someway overzealous, or unnecessary. To an extent, the proof will be in the pudding.
This episode is best enjoyed alongside our companion report, which looks at our survey data on customer satisfaction to show which banks have made the most progress in the last 12 months in the UK. But also, which banks elsewhere in the world, without Duty-like intervention, have managed to improve faster than the UK.