We understand consumers.

We've always believed in putting consumer interests first in everything we do.

That’s why we developed Human Affinity, a 'customer-first' approach that ensures we both fully understand and exceed customer needs and expectations throughout all our branding, marketing and communications.

The forthcoming ‘Consumer Duty’ principle from the Financial Conduct Authority (FCA) is equally focused on ensuring good customer outcomes:
"One question all firms can ask themselves is whether they are applying the same standards and capabilities to delivering good customer outcomes as they are to generating sales and revenue in comparable areas"
FCA Consumer Duty, Finalised Guidance, July 2022
We know you believe in better customer outcomes too - but face a significant task to actively demonstrate your business’s commitment in time for the new FCA deadline of 31st July, 2023.

How we can help

Our 30 years' experience in financial services, combined with our in-house production studio in London, means we can actively support you in meeting key elements within the Duty regulation.
Consumer understanding

FCA guidance

Example of your required actions

Firms adopt good practices that generally enhance the clarity of communications and where possible, act to make communications more effective

How OTM can help

  • Customer 'clarity' testing of communications
  • Review of language use across all documents and communications by specialist copywriters

Implementation

  • Develop ’Best Practice’ communication guides based on the findings above
  • Revised copywriting of communications
  • New artwork/digital production in London

Example of your required actions

Firms ‘put themselves in their customers’ shoes’:
  • Segment or target communications to make them more relevant rather than adopt a one size fits all' approach
  • Consider whether their communications equip customers with the right information, at the right time, to assess products and services and make effective decisions
  • Proactive in thinking about how best to engage and communicate with customers after the point-of-sale

How OTM can help

Conduct Human Affinity audience insight focus-groups and workshops:
  • to ensure relevancy of communications
  • to consider the 'decision making' journey

Recommendations and implementation

  • Detailed audience segmentation
  • Communications and messaging frameworks to ensure relevancy and engagement pre and post sale
Products and services

FCA guidance

Example of your required actions

The target market is defined at a sufficiently granular level to help avoid sales to customers for whose needs, characteristics and objectives the product or service is generally incompatible 

How OTM can help

Conduct Human Affinity audience insight focus-groups and workshops:
  • to understand how new products and services will meet customer need(s) and characteristics
  • to identify granular segmentation of your target audience

Recommendations and Implementation

  • Detailed audience segmentation
  • Communications and messaging frameworks to ensure relevancy and engagement as above

Example of your required actions

A manufacturer tests its product or service before launch to assess how it is likely to function in different conditions and whether it could lead to foreseeable harm.
Where it identifies potential issues, the firm adjusts the product or service to avoid them or mitigate their impact.

How OTM can help

Conduct Human Affinity consumer insight and product testing using customer focus-groups, online surveys and workshops

Recommendations and implementation

  • Identification and report on potential issues
  • Re-testing as requited above for mitigation
Customer support

FCA guidance

Example of your required actions

Firms ensure there is appropriate friction in their customer journeys to support their customers in making good decisions

How OTM can help

  • Comprehensive UI/UX reviews of:
  • Corporate website
  • Mobile apps.
  • Key digital Customer Journeys e.g. Account opening
  • Audience testing of UI/UX for appropriate consumer friction as above

Recommendations and implementation

  • Detailed customer journey mapping
  • Revised UI/UX design templates/wireframes
  • Liaison with your third-party developers

We can lighten your workload.

To help you meet your FCA Consumer Duty obligations by 31 July 2023
OTM has more than 30 years' experience working in the Financial Services sector with diverse businesses including:
Global Retail Banks; Wealth and Investment Management, Private Banks, FinTechs, FS SaaS and Insurance providers.