Nine in 10 (90%) customers who faced poor outcomes when applying for a financial product online in the past 12 months have vulnerable characteristics, according to new research.
According to Newton Europe's latest study of 3,007 general consumers, The Vulnerability Void, over half (56%) of respondents applied for a financial product online in the past 12 months, but 49% either didn't get what they needed or aren't sure they got what they needed, the financial consultancy noted. Newton estimated the financial value attached to these "poor outcomes" at £41 billion in vulnerable customer money. Overall, 82% of customers who applied for a financial product online have been identified as having a condition or experience that makes them more vulnerable to harm. ...
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