Outside In Project: The Consumer Duty

We brought the voices of customers in vulnerable circumstances directly into businesses to enhance their implementation of the Consumer Duty.

High quality customer insight is essential if businesses are to meet the demanding new requirements from the financial services regulator.

Over three immersive sessions, the people responsible for Consumer Duty in six different businesses – covering banking, pensions, savings, investments and financial advice – engaged directly with over 30 lived experts in vulnerable circumstances.

The insight was real, raw and practical. We heard how some digital solutions can shut people out; the importance of simple and visual communications to meet different needs; and how essential empathy is to earn the trust of customers.

The lived experts also critiqued communications put forward by the members, including a digital assistant, a letter sent following a bereavement and a brochure explaining levels of investment risk.

From these immersion sessions we distilled 11 key insights and the members came together for a final session focused on how to apply these to their day-to-day work.

The business participants reflected that by challenging their assumptions and broadening their mindsets they were now better placed to improve customer experiences for all. And the lived experts felt valued having had their voices heard by those well-placed to do something about it.

“Excellent sessions, well facilitated and loved the engagement with lived experts. I even cried hearing one person’s story, so moving.”

Maria Randall, Product & Propositions Manager, Santander

“Getting closer to customers and learning directly from them can make all the difference when trying to design inclusively.”

Business Participant

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