The 29-page Customer Understanding Assessment and Testing Framework document is an FCA-aligned guide for ensuring clear, effective retail communications under the Consumer Duty. Built on PRIN 2A.5, FG22/5, FS25/2 (2025 updates), and March 2025 reviews, it promotes data-driven testing to enhance comprehension and reduce misinterpretations by up to 20%.
It outlines clarity-focused, inclusive principles and a step-by-step process for evaluating communications, utilising tools such as A/B testing and focus groups. With customisable templates, it supports audits, board reporting, and SMCR accountability, aligning with Q1 2025 thematic reviews for transparent, customer-centric outcomes.
Includes:
Overview of Customer Understanding Assessment in the Consumer Duty
Key FCA Requirements (PRIN 2A.5 and Related Guidance)
Integration with Cross-Cutting Obligations and Other Outcomes
Recent Updates and Best Practices (e.g., 2025 Reviews)
Clarity, Fairness, and Accessibility
Timeliness and Relevance
Vulnerability and Inclusivity Considerations
Proportionality and Evidence-Based Evaluation
Step-by-Step Methodology
Qualitative Techniques (e.g., Focus Groups, Surveys)
Quantitative Techniques (e.g., Metrics, A/B Testing)
Technology Aids (e.g., Analytics Platforms)
Monitoring, Review, and Adaptation
Record-Keeping Requirements
Assessment and Testing Templates (e.g., Testing Checklist, Evaluation Form)
Example Completed Template
FCA References and Resources
The 29-page Customer Understanding Assessment and Testing Framework document is an FCA-aligned guide for ensuring clear, effective retail communications under the Consumer Duty. Built on PRIN 2A.5, FG22/5, FS25/2 (2025 updates), and March 2025 reviews, it promotes data-driven testing to enhance comprehension and reduce misinterpretations by up to 20%.
It outlines clarity-focused, inclusive principles and a step-by-step process for evaluating communications, utilising tools such as A/B testing and focus groups. With customisable templates, it supports audits, board reporting, and SMCR accountability, aligning with Q1 2025 thematic reviews for transparent, customer-centric outcomes.
Includes:
Overview of Customer Understanding Assessment in the Consumer Duty
Key FCA Requirements (PRIN 2A.5 and Related Guidance)
Integration with Cross-Cutting Obligations and Other Outcomes
Recent Updates and Best Practices (e.g., 2025 Reviews)
Clarity, Fairness, and Accessibility
Timeliness and Relevance
Vulnerability and Inclusivity Considerations
Proportionality and Evidence-Based Evaluation
Step-by-Step Methodology
Qualitative Techniques (e.g., Focus Groups, Surveys)
Quantitative Techniques (e.g., Metrics, A/B Testing)
Technology Aids (e.g., Analytics Platforms)
Monitoring, Review, and Adaptation
Record-Keeping Requirements
Assessment and Testing Templates (e.g., Testing Checklist, Evaluation Form)
Example Completed Template
FCA References and Resources
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