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What if some signs of banking customers in financial difficulty are being missed? Read our latest thought piece to find out why using credit to pay for essential spending could be one such trigger, and what lenders can do to help support their vulnerable customers.
The level of innovation and pace of change in digital means that new challenges and opportunities may arise that differ from those faced in ‘traditional’ non-digital channels. With this in mind, the LSB is continuing to work with firms in the digital space to share examples of best practice relating to delivering good customer outcomes.
Innovation and the pace of change in financial technology means more choice and greater access for customers. There are also risks, with new products and offerings being introduced which, without proper consideration, could lead to unintended consequences. By thinking about the customer journey in the digital space, firms can consider how to tailor their products and services to ensure good customer outcomes.