Regulating for better outcomes – next steps in consumer credit

Feb 23, 2022 | Financial Services

piggy bank on calculator, vulnerability, lending risk concept

The FCA has published an interesting speech made by Nisha Arora, on consumer credit focusing on consumer outcomes and needs, particularly for those in vulnerable circumstances.

As Julian Graham-Rack, CEO at PrinSix, states, “Customer outcomes are where decision science meets culture. Decision Science can measure and predict them, given the right insight into each customer’s circumstances. Culture puts them at the top of management’s agenda.”

Good customer outcomes are how a firm demonstrates they are meeting the FCA’s Principle Six, of Treating Customers Fairly.

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