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Home > Industries > Financial Services > Consumer Vulnerability Detection

Ready to Identify and Support Vulnerable Customers

It’s more important than ever that you can quickly and consistently detect potential vulnerability.

Our purpose-built detection tool empowers your team to provide appropriate support for all of your customers.

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Potential Vulnerability

What is Consumer Vulnerability?

A vulnerable consumer is generally defined as someone who is especially susceptible to detriment due to circumstances like disability, chronic illness, low income or limited communication skills—or life events like job loss, divorce or bereavement.

Vulnerability can be permanent, temporary or sporadic, and can affect anyone.

Why It's Time to Take Action

Consumer vulnerability has become a focal topic for regulators in the UK and Australia in recent years. The UK’s FCA and Australia's ASIC require financial firms to take steps to identify vulnerable customers and provide them with fair and appropriate support and services.

This issue has become especially pressing as the COVID-19 pandemic has impacted consumers' health, families and financial circumstances.

Challenges of Detecting Vulnerability

Recognizing potential vulnerability is a critical area of complaint handling for any business that is invested in treating customers fairly. But vulnerability comes in many forms, and its signs can be easily missed during the case handling process. Detecting vulnerability can be particularly challenging in contact centers, where turnover is common and frontline staff may lack experience in identifying signs of vulnerability.

How Aptean Respond Helps You Solve Consumer Vulnerability Challenges

To help you provide the best service possible, we have enhanced our Aptean Respond complaints management solution with our Consumer Vulnerability Detection feature—a first-of-its-kind built-in text analytics tool. It empowers your case handlers by flagging signs of potential vulnerability that might otherwise be missed in a case. Once alerted to a vulnerability marker, the case handler can take a closer look at the context and assess whether a different process or solution might be needed to provide the customer with the appropriate support.

How It Works:

  • When inbound customer feedback enters Respond (via email, social media, a feedback portal, a transcribed phone call, etc.), the solution automatically scans the text for possible indicators of vulnerability.

  • Vulnerability markers are underlined and highlighted within the communication and displayed in a separate panel for closer examination.

  • Case handlers can add comments to the flagged text to track how they are responding to each potential vulnerability. This commentary lives and moves with the case so it can be reviewed at any time.

  • Within Respond's centralized dashboard and customizable widgets, managers can track vulnerability by product, monitor their team's vulnerable cases, and drill down to examine the tracked commentary.

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Create an End-User Feedback Loop for Continuous Enhancement

If a case handler feels that text has been incorrectly flagged as a vulnerability - or that the system has missed text that should have been flagged - they can make a manual amendment and send feedback to us—all without leaving the case they're working on.

This enables continuous improvement to our Vulnerability Detection feature without disrupting your team's workflow. Any manual changes are tracked within the case history, so other users can see what has been amended.

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We know your industry inside out. This expertise enables us to create complaints management software with the capabilities to solve your challenges—ensuring you’re Ready for What’s Next, Now®.

Complaints and Dispute Management

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Complaints and Dispute Management

The challenge

With high volumes, changing staff and disjointed systems, it’s almost impossible to ensure you deliver a professional and consistent response to every customer complaint.

The solution

Our complaint management system allows you to track and streamline complaints from all channels from capture to resolution—improving outcomes for you and your customers.

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Customer Experience

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Customer Experience

The challenge

In this industry, customer loyalty is more important than ever, so your service must stand out from the crowd. But, balancing this with efficiency and compliance is tough.

The solution

Our solution can help you take your customer experience to the next level—providing consistent, loyalty-inspiring service that sets you apart without operational sacrifices.

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Regulatory Compliance

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Regulatory Compliance

The challenge

With regulations changing regularly it can be challenging to ensure you are compliant and following best practices consistently throughout your organization.

The solution

We stay up to date on new regulations from authorities around the world—ensuring this expertise is built into Aptean Respond—so, you can be confident in your compliance.

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Start transforming your complaints management

If you’re ready to take your financial services business to the next level, we’d love to help.

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