Consumer Duty: The impact on FSI marketers | I&I Podcast

In this episode of Insights & Impact podcast, we’re delving into the effect Consumer Duty has had on marketers in the financial services and insurance sectors. We were joined by FSI and insurance specialists to get their take on how these regulatory requirements are changing the marketing landscape. In the podcast, they analyse the trends we’re seeing, dish up some top tips for success, and outline what best practices look like in the Consumer Duty landscape.

Who you’ll be hearing from:

• Alex Murphy, financial services Marketing Advisor and Co-Founder of Balance
• Alex Shrimpton, Head of FSI Sales at Infinity
• Sarah Wakefield, Senior Analyst at Infinity
• Matt McGillicuddy, Head of Growth Marketing at Infinity

So, if you want to understand how to gain a deeper understanding of your customers to fine-tune messaging, nail compliance, and deliver the most positive outcomes possible, grab yourself a brew and tune in!

Consumer Duty: One year on...

Consumer Duty brought about a massive shift in FSI with the key focus being on delivering positive consumer outcomes. While there’s been a lot of headway, many firms are still struggling to keep up pace with the new regulations. It's also important to note that the Infinity Hub data trends suggest 2024 call volumes will exceed 2023 volumes.

[If you're keen to dig a little deeper into the FSI industry trends, get your hands on our 2024 Call Intelligence Report for marketers ⏬] 

The impact on FSI marketers 

This surge in call volumes presents FSI marketers with an equal measure of opportunities and obstacles. If your firm's dealing with more call volumes, you're going to have a ton more data to digest. Thing is, if you don't have the right tools in place, that'll soon become a big headache. On the flipside, if you're not unlocking the key insights from the calls your firm's handling, you'll be missing out on a treasure trove of intel. 

This is where having the right tools in your martech arsenal will be an absolute game-changer. In this episode, we talk about how call intelligence helps you make the most of the opportunities and overcome the key obstacles by: 

1. Helping you unlock call insights at scale, making it a whole load easier to make data-driven and fully informed decisions on how to improve messaging
2. Enabling you to pinpoint where the customer journey is falling short of expectations and quickly put corrective measures in place 
3. Giving you a deeper understanding of customers so you can continuously improve customer experiences and deliver positive outcomes 

All of the above are things that marketers have always done really well. But, in the new age of Consumer Duty, seamless CX is no longer a "nice to have" - it's now a mandatory requirement for marketers in the FSI sector, and there’s no room for slippage!