Dr Olufemi Oyenuga ( Dr FO ) M.CIoD’s Post

🚨 Everything you need to know about complying with consumer duty is right here 🚨 This is a real deep dive into the detail, with actionable advice for all parts of your business, including a template which details the types of questions different teams should ask at each stage of the customer journey. We scanned published materials and spoke to leaders across financial services to pin point what Consumer Duty means for your business, and what you can do today to comply. Thank you to Dr Alessandro Medici, Ross Tulloch, Ian Burdin & Jennifer Thompson for pulling this together 💚 You can find it all here 👇 https://lnkd.in/erJuWZmU

Great read on the importance of leveraging transactional behavior and product usage data to better serve members. With access to this data credit unions can learn a member's passions & motivations, leading to a much deeper relationship. https://lnkd.in/eSSE53Vm

In Opinium's recent study into the attitudes of IFAs towards the new consumer duty, six months on from its launch, we reveal how almost half of the respondents (45%) feel the new rules have made it harder to offer advice to their clients. Read the full article on the Financial Times via the link below: https://lnkd.in/eU-PZ8WC #IFA #IFA2024 #FinancialTimes #Opinium

❗ Accounts that don't have Financial Services Compensation Scheme protection should make this information as clear as possible. In light of the Financial Conduct Authority's Consumer Duty, all providers should think about whether key product information - like FSCS cover - is as clear as possible in the customer journey. Putting information about FSCS protection in smaller text, with reduced colour contrast, makes it less likely that customers will read it. The example below from Pockit shows how important information about the absence of FSCS protection can get overwhelmed by more colourful and prominent text around it.

How much is worth spending on your customer service? Even as little as 1% improvement in #CSAT can have a financial impact. Learn how to calculate that here: https://lnkd.in/e5fHhCHg

Feel like the first Consumer Duty board report deadline is creeping up on you too quickly? Don’t panic. Here are some quick and easy steps financial advice firms can take to gather data and insights for their Consumer Duty report by the end of July 👇https://hubs.ly/Q02xJJcJ0 #consumerduty #FCA #financialadvice #qualityassurance

Unlocking the secrets to lasting customer trust in financial services with Mike Barrett. Discover how firms can set industry standards and navigate the evolving landscape. Read more: https://lnkd.in/eJA-8B_F

💰 Your financial service innovation adds value to every transaction. 🛍️Gain recognition from retailers and increase your sales with this award. 👥More people will learn about your reliable financial service, more will use it, and everyone comes out ahead! ✨🏆🛍📈 #FinancialService #ProductInnovation #POYCanada2025 #InnovateToElevate #Innovation

📆 Save the date! June 25, 2:00 p.m. ET. Discover how optimizing communications and leveraging analytics can lead to an improved payment experience for both the customer and the company. Don't miss our insightful webinar - 'The Late Payment Playbook: Winning Strategies for Preventing & Collecting Late Payments.' Your seat awaits: https://lnkd.in/gTzXqneV.

A modern and improved IRS = modern and improved customer service. And it’s all thanks to Inflation Reduction Act funding for the agency.