Moneyhub Urges Firms To Leverage Open Data To Ensure Consumer Duty Compliance The Fintech Times

Compliance With New Fca Consumer Duty Regulations Made Easy With Moneyhub S Open Finance Firms are overwhelmingly turning to technology in order to surface data and insights that solve the challenge set by the fca’s new consumer duty according to new research from moneyhub, the open finance, open data and payments platform, conducted by opinium. Embracing the use of third party open data solutions is the best way for firms to meet consumer duty requirements while seeing a tangible impact on their customers’ day to day finances, and satisfaction levels.”. moneyhub reveals how much work firms still have to do to ensure consumer duty compliance, and suggest open data is the way to go.

Compliance With New Fca Consumer Duty Regulations Made Easy With Moneyhub S Open Finance Moneyhub, the market leading open data and payments platform, has announced that its open finance technology enables financial services businesses to ensure compliance with the new consumer duty. the financial conduct authority’s (fca’s) new consumer duty regulations are designed to raise the bar on consumer outcomes and require businesses to:. Our experienced team is here to support you now and in the future. moneyhub, 101 victoria street, bristol, england, bs1 6pu, united kingdom 0117 280 5155 hello@moneyhub . get consumer duty compliant, now and in the long term. moneyhub's open finance and open data solutions raise the bar on customer centricity with improved customer outcomes. For this measure, moneyhub puts forward the application of open finance as a solution to these challenges. open finance has a proven capability of delivering consent driven data insights that can help banks and building societies meet their consumer duty obligations before the july 2023 deadline. In response to the second fca consultation on the consumer duty, which closed last month (february 15), moneyhub has submitted a response pointing to open finance as an effective tool in achieving.

Firms Turn To Tech And Data To Solve Consumer Duty Woes As 38 Admit Limited Knowledge Of New For this measure, moneyhub puts forward the application of open finance as a solution to these challenges. open finance has a proven capability of delivering consent driven data insights that can help banks and building societies meet their consumer duty obligations before the july 2023 deadline. In response to the second fca consultation on the consumer duty, which closed last month (february 15), moneyhub has submitted a response pointing to open finance as an effective tool in achieving. Embracing the use of third party open data solutions is the best way for firms to meet consumer duty requirements while seeing a tangible impact on their customers’ day to day finances, and satisfaction levels.” the post moneyhub urges firms to leverage open data to ensure consumer duty compliance appeared first on the fintech times. About moneyhub. moneyhub is a data, intelligence, and payments company which develops iso 27001 certified software for open banking, open finance, and open data applications. its fca regulated open data platform enables companies to quickly and easily transform data into personalised digital experiences and initiate payments.