The FCA Consumer Duty
Supporting your customer service obligations under The FCA Consumer Duty via an omnichannel solution
The Consumer Duty Overview
The Consumer Duty is a new principle powered by the Financial Conduct Authority.
Its core principle is to ensure that firms across financial services put their customers' needs first.
For new and existing products or service that are open to sale or renewal the rules come into force on 31 July 2023 and for closed products or services, the rules come into force on 31 July 2024.
What does it really mean?
From the customer support viewpoint, there is a requirement to offer suitable treatment to all customers with an obligation to provide good customer service leading to a reduction in upheld complaints about switching, cancellation, and service levels
A key element of this is ensuring that customers receive high levels of satisfaction with the support that they are offered across every communication channel.
Visit the FCA website to find out more.
How can Dialect support your business?
Dialect can build fully customized solutions that enable you to meet the obligations as set out by The Consumer Duty.
We can do this by:
Completing an end-to-end gap analysis of your current offering vs where you need to be to meet your obligations
Build an omnichannel solution that can include voice, live chat, email, or social messaging, whichever channels you need to interact effectively with your customers
Provide accurate MI and data insight to support you in the evidence you need to demonstrate to the FCA aligned to customer support
Support you in ensuring your business is consistently managing complaints in line with regulatory obligations through a highly experienced customer support team
Access to NPS and direct feedback from your customers to support continuous improvement in offering your customers high levels of satisfaction
Let Dialect deliver the right CX solution for your customers
Dialect is your CX FinTech and payments partner. We understand the challenges faced in delivering a joined-up customer support solution that meets the expectations of your customers that is cost-effective, scalable, whilst also meeting all your regulatory obligations, not just that of the FCA.
We are FinTech and Payment experts
Our team brings a wealth of experience in managing and running successful CX operations for FinTech and payment providers this is coupled with years of experience within the industry
We offer a full omnichannel solution
Select from our range of channels including voice, email, live chat, and social messaging that aligns with your vision of how you want to support your customers
We are cost-effective
We can save our clients up to 78% compared to setting up and managing an internal CX team
We provide powerful and meaningful MI
We provide powerful and meaningful MI; MI is a key tool to drive improved and enhanced customer support whilst also enabling our clients to leverage this data to support FCA obligations
Our services
Voice
Voice support and IVR build (including automation) routing calls into our team of CX specialists who are available 24/7
Handle customers emails by routing them into the Dialect system for our team to manage on your behalf supporting effective and efficient response times
Have a WhatsApp number? Dialect can handle all conversations via our omnichannel solution seamlessly
Live chat
Embed your fully branded chat widget into your website or application and let Dialect handle all interactions in up to 75 languages. We can build chat bots to support interactions or connect directly to our team of live agents
Dialect can handle your Facebook messages providing personalised, real-time support to your customers
Want to chat more about the Consumer Duty? We’re here to help!
We want to know your business and your consumers' needs exactly so we can provide the perfect solutions.
Let us know what you want and we’ll do our best to help.