Looking after our vulnerable customers
The Collaboration Network’s Vulnerability Week landed between 23rd and 27th June and we were super excited to be getting involved for the first time.
Launched only last year, this year’s theme centred around trust, particularly on helping companies create greater trust among their vulnerable customers. We used the week to highlight the positive, caring relationship we have with those customers whose personal situations or characteristics mean they need extra support. We work hard to make sure every customer, whoever they are, knows we’ve got their backs every day, that they’re front and centre of what we do. Some people, sometimes, need a bit more help though so that’s what we give them, whether over the phone, in writing or digitally.
So, what do we mean by ‘vulnerable customers’?
The Financial Conduct Authority’s (FCA’s) definition is 'Customers who, due to their personal circumstances, are especially susceptible to harm, particularly when a firm is not acting with appropriate levels of care.'
One in four people in the UK today live with a disability, many of them hidden, and more than two million people have sight loss, over half of which is irreversible. Customers could be vulnerable for a short time or longer, even permanently, and examples of harm might be buying inappropriate products, getting into debt or difficulty accessing services and products. This could be down to health issues, life events, reduced resilience or restricted capabilities. You can learn more about the FCA’s guidance here.
Our Customer Director Sally Clarke, commenting that supporting vulnerable customers is an important part of meeting our Consumer Duty responsibilities, said:
“This week is an opportunity for businesses to build awareness of the work they do to support customers with vulnerabilities and strengthen their commitment.”
At 1st Central we’re proud we’ve designed and are delivering a Vulnerable Customer strategy that’s put us in a strong position to achieve good outcomes for customers who need extra support. This approach sets out three key areas:
- Identification and Monitoring – with every interaction, we make sure we recognise and record customer vulnerability so we can monitor outcomes
- Inclusive-by-design – we devise customer experiences that are automatically accessible for everyone. We’ve embedded customer vulnerability as a fundamental design principle for core customer journeys and communications and we clearly signpost people to the support available
- Targeted Support – we take specific action to make sure customers get the appropriate help they need whatever their vulnerability
We’ve been busy over the past year and have made great progress in many ways to support customers. We set up a specific steering committee so we can collaborate across different areas of the business. Along with a senior forum which reviews our actions and their results it means we’re focusing on vulnerable customers from the top. We’ve also taken steps to review our communications and made them more accessible and easier to understand. What other developments have we accomplished?
1. Rolled out a language translation service to improve service for non-English-speaking customers
2. Began flagging vulnerable customers with Debt Collection Agencies (DCAs) to strengthen support throughout the debt journey
3. Updated our Help and Support page to make it more accessible and easier to navigate
4. Partnered with leading debt charity StepChange, offering customers access to free, trusted debt advice
5. Launched a pilot for a dedicated Customer Care team to handle bereavement and other sensitive calls.
Earlier this year, we announced another exciting way we’re stepping up. Having partnered with SignVideo by Sorenson, the #1 leading provider of communication solutions for deaf and hard-of-hearing communities, customers can now video call us via a British Sign Language (BSL) interpreter to set up, make changes to or process a claim on polices with us. The service makes doing business with us instant and easy, 24/7, customers getting the professional, respectful experience they deserve.
Improving accessibility and the support we give to customers with vulnerable characteristics on their digital journey with us has been a big focus. We’ve been ramping up our inclusive design, user testing, and continuous experimentation to make our services simpler and fairer for everyone.
We also set up a business-wide community of 21 Vulnerable Customer Champions to guide frontline teams in better identifying and supporting vulnerability. One of them, Customer Relations Executive Lucia Hayle, turned her passion for serving people with extra needs into action after attending an inspirational focus group. Read about how she became a Vulnerable Customer Champion and is helping others do the same.
We’ve made great progress and are proud of the improvements we’ve completed but we know there’s more to do. We won’t stop reviewing our services, amending them and seeking feedback about the adjustments. Our customers deserve the best. Always.