In the lending market, there has historically been a one size fits all approach, treating all customers the same. The lending firms that provided a personal touch flourished, while those that didn’t fell behind. In the latest The Fintech Times webinar, we learn from Zilch and Provenir about how the introduction of Consumer Duty will benefit everyone in the lending sphere.
These new rules introduce a higher standard of conduct and create a clearer focus on customers’ interests.
In a consumer-driven world, fintech lenders must put the customer at the centre of their business to help them achieve their financial objectives and avoid potential harm.
But how prepared are you for the new regulations? Do you know how, what and why to comply?
How will you integrate data within risk decisioning and analytics technology to keep ahead while protecting consumers at the same time?
In the latest The Fintech Times webinar, Francis Bignell, journalist and lead LatAm correspondent, puts the spotlight on data’s impact on Consumer Duty and is joined by Chris Kneen, managing director UK&I, Provenir
and Desmond McNamara, chief risk officer, at Zilch.
Together, the trio discuss:
- What is Consumer Duty?
- When is this happening, what deadlines should fintechs and lenders be aware of?
- How have fintechs and banks previously struggled with customer centricity?
- How can data insights help fintechs and banks meet Consumer Duty regulations?
- How can technology and data be integrated into existing systems to help meet new regulations?
- What have been the BNPL potholes that have impacted Consumer Duty?
- How can fintechs help consumers use short-term finance responsibly?
- How can real-time data be used to balance risk management with innovation opportunities?