JESSICA TAYLOR | Consultant, Capco
IVO VLAEV | Professor of Behavioral Science, Warwick Business School
ANTONY ELLIOTT OBE | Founder, The Fairbanking Foundation

The FCA’s Consumer Duty regulation aims to transform financial services for customers by requiring firms to consider the needs, characteristics, and objectives of all their customers, and how they behave, at every stage of the customer journey. 
Its success, however, is dependent on compliance from firms and with new regulations, there often exists a policy implementation gap whereby policies do not lead to changes in behavior. 

This study provides a novel approach by applying “behavioral science frameworks” to compliance with financial regulation, improving outcomes for customers under the FCA’s Consumer Duty and future financial regulatory change.