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Consumer vulnerability has evolved to be something much bigger and more inclusive than it once was. It isn't just about being in debt anymore, vulnerability can happen to any of us at any time - and more if us than ever before are feeling the impact of cost-of-living increases.
From a regulatory perspective, there's an increasing expectation on us to do the right thing for our customers who find themselves in a vulnerable situation.
With the knowledge that the beginning of a New Year is often when customer's struggle financially and emotionally, this three-part series will tell you everything you need to know about customer vulnerability. From what it means to regulators (and what that means for us), to what customer vulnerability looks like today, the rules around recording sensitive customer information and how we, and others, can support customers who are struggling.
This series is for you if you work in, or oversee, a frontline or customer facing function in the public or private sector. This series will help you to:
This series is for you if you’re:
Topics covered may include but are not limited to: