Why sharing individual customer data is the practical solution to meeting Consumer Duty

Why sharing individual customer data is the practical solution to meeting Consumer Duty

This paper looks at why it will be a far better customer experience if consumer characteristics data is provided once and then shared between different parties.

Consumer Duty requires that firms can evidence how they understand the characteristics of customers over the life of a product. Inevitably, this means asking questions, perhaps quite a few. But from the consumers’ perspective, having to do this again and again (when obtaining quotes) or again and again through the life of the product isn’t just tiresome, it’s annoying – and it could likely lead to inconsistencies.

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