Vulnerable Customers

Check and Demonstrate Your Firm's Compliance Against Each Vulnerable Customers Requirement:

  • Documented Policy Establishment: Confirm a written Vulnerable Customers Policy outlining identification, understanding, and support, with guidance explaining why this structures fairness embedding, complies with Consumer Duty, and prevents oversight in FCA expectations.

  • Senior Management Approval and Communication: Verify endorsement and organisation-wide dissemination, including rationale on why this demonstrates commitment, cultivates accountability culture, and aligns with FCA governance mandates for oversight.

  • Fair Treatment Belief Statement: Document clear articulation of respectful handling with vulnerability emphasis, highlighting why this promotes inclusivity, averts harm, and upholds FCA fair treatment principles for trust-building.

  • Business-Wide Integration: Confirm embedding from design to interactions, explaining why comprehensive application reduces risks, ensures operational consistency, and meets FCA guidance on holistic vulnerability considerations.

  • Regulatory Reference Inclusion: Verify citations to Consumer Duty and FG21/1, underscoring why this secures legal alignment, eases audits, and facilitates adherence to evolving FCA obligations.

  • Proactive Vulnerability Identification Commitment: Document market and base assessments for issues like health or finance, with insights on why early detection enables support, minimises detriment, and supports FCA proactive requirements.

  • Staff Empowerment Pledge: Confirm training and resources for empathetic handling, including rationale on why this boosts effective responses, enhances outcomes, and promotes well-being under Consumer Duty.

  • Robust Systems Building: Verify secure recording and flexible options per GDPR, explaining why adaptive tech protects data, improves accessibility, and aligns with FCA support flexibility.

  • Ongoing Monitoring and Improvement: Document data/feedback-driven adjustments, highlighting why continuous reviews allow quick fixes, sustain fairness, and comply with FCA monitoring standards.

  • Regular Policy Reviews: Confirm annual or change-triggered updates, with guidance on why this keeps relevance, adapts to FCA evolutions, and ensures effective, business-responsive policies.

Firms leveraging RegTechPRO achieve up to 40% faster vulnerability assessments, with clear guidance on FCA expectations, turning customer protection into proactive excellence.