Customers unaffected by Consumer Duty

41% not noticing change

Cameron Roberts
clock • 1 min read

Research from tech platform, Moneyhub, indicates that Consumer Duty has had a limited impact on customers, with 41% noticing no change to their treatment since July 2023.

The research, which polled 2,000 UK customers, also showed that 22% had seen improvements, with 42% saying they believed Consumer Duty would have a positive impact on products and services. The positive notes were that customers were hopeful that Consumer Duty would impact them in the future, 40% think it will have a big impact on customer servicing; and 36% think it will drive banks to become more customer-centric institutions. Customer outcomes need to be improved according to the research. Of those questioned, 13% said firms did not deliver good quality care; 12% said firms had not...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

The COVER Review: FCA updates, acquisitions and IPT

The COVER Review: FCA updates, acquisitions and IPT

Week commencing 25 August 2025

COVER
clock 29 August 2025 • 1 min read
Broadstone warns against IPT hikes in Autumn Budget 2025

Broadstone warns against IPT hikes in Autumn Budget 2025

‘Green shoots of progress’ in the NHS

Jaskeet Briah
clock 27 August 2025 • 3 min read
Scam reports at over 4,000 in six months: FCA

Scam reports at over 4,000 in six months: FCA

480 victims defrauded

Cristian Angeloni
clock 27 August 2025 • 1 min read