Money Advice Trust

‘Expert by experience’ is increasingly recognised as an approach to help ensure markets are inclusive, especially for customers in vulnerable circumstances. Charities and people with a lived experience of vulnerability want to increasingly shape the thinking and practice of organisations. Most regulators (including the FCA) recognise this and expect firms to consider such an approach. However, jus...

To mark the release of the finalised FCA vulnerability guidance, the Money Advice Trust held a special webinar to discuss what the guidance means for firms and how you and your organisation can change the regulator’s expectations into reality for your customers. Joining Vulnerability Lead Consultant, Chris Fitch for a very special discussion on the content of the FCA guidance are: - Sarah McKenzie...

There is an increasing focus on inclusive design from industry regulators and firms themselves. But what does ‘inclusive design’ really mean? How can firms – and regulators - translate this concept into practical action to make sure that products, services and markets work well for all? Marking the launch of two new, practical guides on inclusive design for firms and regulators by the Money Advice...

To mark the launch of new GDPR guidance from the Money Advice Trust and Money Advice Liaison Group Ltd (MALG), we discuss how firms can meet data protection regulation and support customers in vulnerable circumstances. You will hear from two of the authors of the guide, Chris Fitch – Money Advice Trust Vulnerability Lead Consultant – and Robert Bell – a data protection expert. They will be joined...

Part 2 of the vulnerability and identity conversation: As we now focus on the move from identification to conversation with customers in vulnerable circumstances, our expert panel discuss how firms can start these important conversations, the techniques that exist for doing this and – most critically – how do we get customers to welcome our intervention? Joining Chris Fitch in the identification c...

Identifying when someone is vulnerable is rarely simple, every consumer is different and their cues, clues, and signs of vulnerability will differ too. As technology and the way creditor staff communicate with customers continues to evolve, identification is no longer exclusive to voice-to-voice, or face-to-face settings and now includes communication platforms via digital channels, in-app chat, t...

Some argue that ‘design’ is the new tool for tackling vulnerability: • regulators are telling firms to design inclusively • firms are telling staff to design with vulnerability in mind • and products and services are now appearing for once overlooked consumer groups. But just what is ‘design’ when it comes to vulnerability? Can we really design inclusively, accessibly, and for everyone at the same...

Sharing their views on World Suicide Prevention Day, our expert panel discuss what more can essential services do to help vulnerable customers with thoughts of suicide to stay safe, and to stay alive whilst keeping staff safe in the process. Chris Fitch, our Vulnerability Lead Consultant, is joined in conversation by: Nick Barnes - Suicide First Aid, CEO & founder, National Centre of Suicide Preve...

In July, the FCA published its latest proposed guidance for firms on the fair treatment of vulnerable customers. Led by our Vulnerability Lead Consultant Chris Fitch, we will explore and discuss the FCA's proposed guidance, our thoughts on its contents, and what it is likely to mean for firms based on experience of working with organisations to help them improve support for customers in vulnerable...

In this live webinar recording our expert panel discuss a new report from the University of Bristol’s Personal Finance Research Centre (in partnership with Gamble Aware) on the availability, use, and design of bank card gambling blockers as well as examining what creditor staff can do to best support people who experience, or are at risk of gambling-related harm. • Should the law require every deb...

Our fifth ‘Working in a crisis’ recording, to help creditor staff working in front-line/customer-facing, management and specialist roles explores how should firms apply 'vulnerability' to small business owners. However, what does this really mean in practice? Does it differ from commercial vulnerability? And what should firms do to support ‘vulnerable’ small business owners? In this episode, the M...

Our fourth ‘Working in a crisis’ recording, to help creditor staff working in front-line/customer-facing, management and specialist roles explores 'Dealing with financial crisis and serious illness'. When someone is seriously ill, how can firms help them avoid or manage a financial crisis? Vulnerability Lead Consultant Chris Fitch asks Dennis Hussey from National Debtline and Leo Miles from Macmil...

Our third ‘Working in a crisis’ recording, to help creditor staff working in front-line/customer-facing, management and specialist roles explores 'Dealing with emotional crisis'. The podcast covers: • To what extent can staff help people in the depths of emotional and personal crisis • Identifying concerns about customer wellbeing In this discussion the Money Advice Trust's Vulnerability Lead Cons...

Our second ‘Working in a crisis’ recording, to help creditor staff working in front-line/customer-facing, management and specialist roles explores how firms are and should be dealing with customer bereavement. The podcast covers: • How creditors can make a difference in the current context of Covid-19 – to bereaved people. • Practical tips on providing a compassionate response. • Taking care of yo...

In our first ‘Working in a crisis’ recording, designed to help creditor staff working in front-line/customer-facing, management and specialist roles, our Vulnerability Lead Consultant Chris Fitch and customer experience expert Caroline Wells discuss the need to maintain your and your team's resilience and practical tips on how to support your own and your team's wellbeing. The podcast covers: • Wh...

In July the FCA published its proposed “Guidance for firms on the fair treatment of vulnerable customers.” In this podcast, we digest and discuss how the guidance might realistically change firm practice, and consider how the FCA will monitor and supervise firms in relation to vulnerable customers. Recorded in front of a live audience, Chris Fitch is joined by a leading panel including: •Fiona Tur...

Vulnerability is an age-old problem. So is it one that financial technology (fintech) can really solve? Creditors are increasingly looking to directly address vulnerability through different technological solutions.  Our latest podcast in partnership with UK Finance, brings together four people who are working on this question. Joining Chris Fitch in the studio are: Tony Leach from the Vulnerabili...

Economic abuse, involving forms of financial control, exploitation, and often sabotage leave individuals finding themselves affected both within current relationships, but also long after they have long separated from a former partner. Significantly, although one in three people say they told no-one about what is happening to them, many people do tell their bank or financial services provider abou...

Debt collection staff are often the first to encounter or hear about people in vulnerable circumstances, Our exclusive podcast, developed in conjunction with UK Finance for our joint Vulnerability Academy looks at what has been, the current state and the future of vulnerability within debt collection: 1. Looking back - what factors have driven the changes we're seeing in relation to vulnerabilitie...

Increasingly dropped into conversations about vulnerability, universal design is the development of buildings, products, services or processes that are accessible to all people, regardless of age, disability or other factors. Our exclusive podcast, developed in conjunction with UK Finance for our joint Vulnerability Academy looks at three main areas for firms to consider: 1. Fundamentals - designi...

Starting a conversation about vulnerability with a customer can be difficult. Staff need to know what they are trying to identify and how they may be able to support a customer’s set of circumstances. Our exclusive podcast, developed in conjunction with UK Finance for our joint Vulnerability Academy looks at three main areas for firms to consider: - Identification - why does identification matter...

A question often asked about vulnerability, is where does the responsibility of consumers and firms begin and end? This exclusive podcast, developed in conjunction with UK Finance and the Money Advice Trust for the new Vulnerability Academy programme looks at three main areas: - Responsibility of firms: What should we expect as a minimum from firms in terms of identification and support and is thi...

Mental health and money can often be closely intertwined. Recognising this, the financial services sector has taken steps in recent years to improve the ways in which firms understand and address the needs of customers living with a mental health problem, including providing relevant support and help. In our exclusive new podcast, the Money Advice Trust's Vulnerability Lead Chris Fitch asks two qu...

Our colleagues at the Money and Mental Health Policy Institute have recently published their new report on the link between financial difficulty and suicide: The report is a significant contribution to the vulnerability debate, and raises questions such as what can creditor staff can do to prevent lives being lost to suicide, and what can be achieved in partnership with voluntary sector agencies,...

It is estimated that between 2.5 to 4.3 million people in Britain may be affected by gambling related harm. With discussion among firms about 'gambling blocks' on customer accounts, and the Gambling Commission mooting a total ban on the use of credit cards for gambling, the sector is going through a time of great change. To explore these issues, the Trust's Vulnerability Lead Chris Fitch is joined...