Improving Lenders’ Consumer Duty Through Data & Technology

With the new Customer Duty legislation due to come into force on the 31^st of July, the Financial Conduct Authority (FCA) is attempting to establish higher and clear standards for consumer protection.

To comply, both traditional financial institutions and nimble fintechs must embrace flexible technology solutions. Frode Berg, Managing Director for Europe at Provenir, reflects on the unique advantage AI-powered credit risk decisioning provides in ensuring compliance, mitigating fraud and customizing lending solutions for a better customer experience.