Check UX: Consumer duty

FCA consumer duty review

User experience (UX) is essential to ensure that financial institutions comply with the Financial Conduct Authority’s (FCA) Consumer Duty obligations, which come into force at the end of July 2023. The FCA aims to protect consumers from unfair practices by financial firms, and the consumer duty regulation emphasises that firms must act in the best interests of their customers and treat them fairly.

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Check UX: Consumer Duty focuses on how well your user interface aligns with the FCA Consumer Duty requirements: that means finding the good and surfacing the not-so-good – so that you can address it.

What is Check UX: Consumer Duty?

Check UX: Consumer Duty is a UX review to help companies ensure that their digital products and services align with the UX principles that speak to Consumer Duty compliance. By examining the user experience, we can identify:

  • Potential areas where customers may be misled or treated unfairly
  • Barriers to accessibility, such as complex language or confusing navigation, that may prevent customers from accessing information or services.
  • Areas to improve customer engagement and satisfaction- a crucial aspect of compliance.

By providing customers with clear and intuitive interfaces, companies can improve their customer’s experience, leading to higher engagement and greater customer loyalty. Our user-centric perspective allows us to review the interface(s) and deliver a service that will support your work.

We’re here to help

We know the deadline is approaching.  Companies have been in overdrive to be compliant with the new requirements.  Sometimes another pair of eyes can give peace of mind of knowing you’re on target or could find something that might have been overlooked.  Either way knowing where you sit in relation to compliance and doing the right thing for your customers is important – what could be better? 

Our goal is to support you with the research capabilities, analytical mindset, and hands-on experience to get things done.

By working with our UX experts, companies can create digital products and services that are fair, accessible, and easy to use, helping to build trust and loyalty among their customers.

Why we’re different

We know that time is tight, resources are stretched, and yet the organisational needs are many. We are well-equipped to meet your team where you are and support you in your journey.

We’re not a design firm who does research on the side.  We are a dedicated UX research team with the experience, expertise, and diligence needed to deliver.

What you’ll get

We start with two things: (1) a deep reading of the FCA Consumer Duty, and (2) a set of established, well-defined guidelines within the user experience and human factors communities.  Our UX experts take these guidelines and do a thorough review of one of your interfaces (either web, mobile, chat). 

From this review, we produce a report that includes: an overall UX score, scoring on each of the four key outcomes, a report on where the user interface meets the requirements, and areas where it falls short.

This service begins at £5000 and can often be done in a week. 

Additional services are available as requested:

Recommendations for improvement

Go deeper: usability testing (including with hard-to-reach populations)

Benchmarking with other like companies

Disclaimer: Bold Insight Ltd is not affiliated with the FCA.