Sectors

Banking

The banking market is going through significant change. New technologies are enabling different ways of working and serving customers, consumer expectations have become more demanding and the regulatory emphasis has fundamentally shifted. The sector is now expected to implement customer centric standards as opposed to following regulatory rules.

Firms are being challenged to learn from past mistakes and to review their business models, cultures and practices to ensure that they result in fair customer outcomes. For many firms this requires a shift from being product and sales centric to customer needs centric.

The regulator will continue to remedy poor conduct with action but also require firms to be more pre-emptive and reflective. Firms that self-diagnose problems and address underlying causes will not only avoid unfavourable attention but also benefit in building a more sustainable business.

RFS provides expertise across conduct risk strategy and the complete customer case handling life cycle. We can resource and manage your operations helping you ensure good customer outcomes and gain operational cost efficiency.

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