Consumer duty
The FCA requires all regulated financial services companies to adhere to Consumer Duty – meaning companies must be able to demonstrate good outcomes for their customers.
What does Consumer Duty mean for you?
Consumer Duty applies to all companies that sell financial products or services to retail customers, and involves making sure that:
- Customers get clear, easily-understood communications as soon as they need it
- Products and services meet customers' needs
- Products and services offer fair value
- Customers are given the support they need
Companies will be required to make regular reports to their board to ensure these outcomes are being met.
How Smart Money People helps you meet Consumer Duty
As financial services specialists, we help you meet your FCA requirements, guided by the most important voice – the customer’s.
Capture relevant data
We provide always-on customer surveys that are optimised to capture relevant Consumer Duty information whenever customers interact with your business.
Historical data
Eight years and over 1.5 million reviews – our extensive dataset helps you measure customer satisfaction.
Capture key moments
Capture data for key customer decisions – whether it’s purchase, renewal, or first contact.
Compare your data
Benchmarking lets you check your results against your industry peers, to give you an idea of where you stand.
Check your dashboard anytime
Access your insights and outputs whenever you need via an always-on dashboard.
Consult our expertise
Our specialist team is on hand to consult on best practice for reporting and data capture, so you can make the most of your data.
Choose the plan for you
Our Pro and Enterprise plans provide you with the data you need for your Consumer Duty reporting requirements. Choose the plan for you.
Get in touch
Find out how we can help you meet Consumer Duty requirements - book a call or email us and we'll guide you towards the right solution for your business.
Why Smart Money People?
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We're financial experts. We'll help you understand what you need to do, from communicating with customers to reporting to your board.
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Our review data is impartial, independent and extensive, meaning you can rely on accurate and insightful intelligence to inform your customer journey and board reports.
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A range of products to suit your needs, with a range of pricing solutions to make sure you've got the right fit for your business.
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Smart Money People's insight solutions are easy to implement, with a flexible dashboard and customisable surveys.
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Get in-depth customer insights and compare your benchmarking results with industry peers.
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We're a trusted partner to the financial services industry, and we'll support your business over the long term.
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Get enhanced insights with our Pro plan, for tracking realtime NPS, customer satisfaction and value for money.
Key timings
30 April 2023
Companies should have done all the necessary reviews to meet the four outcome rules and shared with distributors
31 July 2023
Consumer Duty now applies to all new products and services, and all existing products and services that remain on sale or open for renewal
31 July 2024
The Consumer Duty will apply to all closed products and services
Ready to get started?
Find out how we can support you with your Consumer Duty requirements.
Our other solutions
Customer insights
Our proprietary analysis transforms customer feedback into useful data, generating superior insights and intelligence for your company.
Claim your page
By claiming your page, you can start reading and responding to customer reviews and build a picture of how your customers describe you.