Introducing Consumer Duty principles by the Financial Conduct Authority resulted in a dramatic shift from treating customers fairly to focusing on customer outcomes, which requires a readjustment of thinking for many regulated firms in Britain. To navigate such an insightful subject on the Debt Talk podcast, Ripon Ray invited distinguished experts from research and consultancy, debt recovery, and the advice sector. Kathy Ellison from Savanta, a research and consultancy firm, explained how some regulated firms had changed their governance structure, consumer terms and conditions, communications and marketing, and dealing with vulnerable consumers. Savanta's research showed that although many firms have significantly addressed regulatory expectations to benefit consumers, some work is still needed to improve consumer outcomes. Bob Winnington of the Money Advice Liaison Group emphasised the importance of delivering world-class service. He explained how the group brought different re...
Ripon Ray has worked in the debt advice sector for over 14 years. His work includes front-line advice & training, developing advice services, quality framework and working with regulators. He created template letters to develop confidence among those struggling with debts. He founded a series of podcasts to show the link between debt and other sectors by getting industry experts together.