CXCO, a leading UK-based consultancy and advisor in customer experience, and Aiwo, an expert in AI-driven customer interaction analysis, have joined forces to offer UK financial services firms the necessary tools and assistance to ensure their compliance with the Consumer Duty regulations. The framework came into effect on July 31, 2023.
The Consumer Duty, introduced by the Financial Conduct Authority (FCA), aims to enhance consumer protection and fairness in financial services. Firms are expected to meet clear expectations, including transparency and accountability, and provide evidence of consistently delivering positive outcomes for consumers.
Recognising the need for innovative solutions to meet the Consumer Duty requirements, CXCO and Aiwo have combined their respective expertise to offer financial services firms a proactive means to measure and evidence the performance of customer outcomes aligned with the four pillars of the Consumer Duty.
Aiwo specialises in harnessing advanced technologies, such as natural language processing (NLP) and text analysis, to generate highly qualified AI analysis of customer interactions. This valuable intelligence, when coupled with CXCO’s exceptional proficiency in optimising customer experience, creates a powerful collaboration that equips businesses with the necessary tools to meet the requirements of the Consumer Duty.
Contact CXCO and Aiwo today to ensure your firm’s compliance with the Consumer Duty framework!