THE CONSUMER DUTY ACTION CHECKLIST - ENSURE FCA COMPLIANCE

The Consumer Duty is a set of rules for better consumer protection. It includes an underlying requirement that firms should be able to demonstrate clearly the actions that they have taken to comply as well as the outcomes of those actions.

Why download the Consumer Duty Checklist?

The overall aim of the Consumer Duty is captured in the new Consumer Principle (FCA Principle 12) that reflects the standards the FCA now expects of firms:

A firm must act to deliver good outcomes for retail customers

Under the Consumer Principle, there are three Cross-cutting Rules, that firms should observe throughout their business operations:

Act in good faith towards retail customers.
Avoid causing foreseeable harm to retail customers.
Enable and support retail customers to pursue their financial objectives.

What will you find in the Consumer Duty Checklist?

The MI reports that Voyc produces enable firms to deliver detailed proof of Consumer Duty compliance to FCA.

What are the 4 areas of the Implementation Plan where Voyc can help?

Need Proof?

Client Case Study: Advantage Finance

100% of customer calls are now automatically monitored, a substantial increase from the previous 1-2% calls manually monitored across collections, support, and sales.
The QA team has increased the number of calls on which they provide feedback to agents by over 600%.
The need to listen to entire call recordings has been eliminated, saving significant time for QA agents and managers.
The integration of Voyc has helped mitigate operational risk by acting as a secondary defence alongside the existing security systems.

Client experience

“With Voyc, I am hundreds of percent more confident that we will be able to provide evidence of compliance when the regulator requests it.”

Client experience

"It’s helped us with the identification, through to implementation and then also with the monitoring. So, it’s been a life changer.”

About Voyc

What does Voyc do?

Voyc helps you succeed in the face of changing consumer needs and increasing regulatory expectations – by monitoring 100% of your customer interactions. It’s easy to configure Voyc to send alerts whenever certain words or sentiments occur – or mandatory phrases are omitted. Managers can then respond instantly and effectively. And you receive detailed reports – to improve your business and provide evidence of good customer outcomes to FCA.

What sets us apart

See value in less
than 1 week

Voyc is an easy-to-set-up, full cloud solution. You can be up and running in just one day.

8.9 Ease of
use Score*

*Source:
G2.com, Inc.

Our customers value how easy it is to use Voyc and it’s reflected in the high G2.com rating.

2min Support
Response Time

Our experienced and friendly support team is always available to handle any queries.

Bank-grade
security

Our security is built from the ground up and complies with privacy laws and ordinances. Our encryption capabilities protect your customer and company data.

The Action Checklist covers the key steps you need to take to comply with Consumer Duty

Fill out your form and get a complimentary copy

It includes:

Recap of the Consumer Duty
Key deadlines for financial services firms
Detailed actions required under each of the four Consumer Duty outcomes: Products and Services, Price and Value, Consumer Understanding, Consumer Support
Plus required actions under two key control functions: Culture and Governance; Monitoring Outcomes
Actions that FCA expects firms to provide evidence for
Strategies to generate MI reports for FCA to demonstrate compliance

THE CONSUMER DUTY ACTION CHECKLIST - ENSURE FCA COMPLIANCE

Why download the Consumer Duty Checklist?

What will you find in the Consumer Duty Checklist?

The MI reports that Voyc produces enable firms to deliver detailed proof of Consumer Duty compliance to FCA.

What are the 4 areas of the Implementation Plan where Voyc can help?

Outcome-focused control

Testing and development

Building a supportive culture