What is the COFI Bill? Summary for financial services contact centres
The South African National Treasury released the second draft Conduct of Financial Institutions (COFI) Bill for public comment in September 2020. The Bill sets out a wide-ranging regulatory framework for the conduct of financial institutions. In this overview, we at Voyc have distilled the content of the second draft to highlight only those aspects that […]
10 things you need to know to prepare for the new FCA Consumer Duty
The new Consumer Duty is a new initiative from the FCA. Its purpose is to set higher expectations for the standards of care that UK financial services firms provide to consumers. The potential implications for those firms are significant. The Consumer Duty is still going through the consultation process. However, the general intent and principles […]
UK FCA Complaints Report: What Happened in the Second Half of 2020?
The FCA Complaints Repot 2020 highlights concern with business-as-usual financial products. The industry has made significant strides in reducing Payment Protection Insurance (PPI) complaints by reducing complaints volumes by 93% during the second half of 2020, from 3.71m in H1 to 256 000 in H2. However, other products saw substantial increases in customer complaints, highlighting […]
