Tag: Consumer Duty

Navigating the future: Top wealth management trends in Q1 2024

As we delve into the initial months of 2024, the wealth management sector stands at the cusp of transformation, propelled by technological advancements and a challenging economic landscape.

How to bridge the gaps in Consumer Duty

After coming into effect on July 31 this year, the Consumer Duty regulation is still being regularly debated within the financial industry in the UK.

AI and ESG trends transforming wealth management in 2023

Economic uncertainties have seen Western economies grapple with challenges such as high-interest rates, amidst geopolitical issues like the war in Ukraine. This ripple effect has significantly impacted the wealth management sector.

The digital revolution in meeting consumer duty standards

Post-deadline, the financial industry is grappling with the new standards set by the UK's latest regulatory mandate. The objective of this update is to bring more transparency and accountability to wealth management and insurance enterprises, fostering a more profound commitment to the consumer.

HyperJar, the digital wallet pioneer, secures $24m in Series A funding...

HyperJar, a leading digital wallet company, has proudly unveiled the successful finalisation of a $24m Series A funding round. The investment round witnessed leadership from Susquehanna Private Equity Investments, LLLP, and received notable participation from the Healthcare of Ontario Pension Plan (HOOPP).

Innovations in Wealth Management: PIMFA and Morningstar’s Tech Sprint winners revealed

PIMFA WealthTech, a FinTech and digital market network renowned for bridging the gap between FinTechs and the Wealth Management sector, has partnered with Morningstar to disclose the outcomes of their pioneering joint venture.

Do banks and building societies have their customers’ best interests at...

Research has found 46% of people do not believe their banks or building societies have their best interests at heart. 

FCA Consumer Duty Countdown: Are firms ready?

The final deadline for compliance with the UK Financial Conduct Authority's (FCA) new Consumer Duty is swiftly approaching in July 2023. The regulatory agency has been actively providing guidance, conducting multi-firm reviews, and sharing specific industry insights in the form of Dear CEO Letters to ensure that firms are adequately prepared for the implementation.

FCA unveils new Consumer Duty plan to boost savings interest rates

The FCA has unveiled actions under the Consumer Duty rules, outlining a 14-point plan aimed at enhancing cash savings interest rates.

How will the introduction of Consumer Duty change RegTech?

After over a year since it was announced, the Consumer Duty regulation has finally come into effect in the UK this week.

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