Consumer Data Strategy

The FCAs Expectations on the Use of Data and Technology

The Financial Conduct Authority (FCA) has established clear and stringent expectations for the use of data and technology, underscoring the critical role these elements play in safeguarding consumer interests and ensuring market integrity. 1 The regulator has explicitly stated that firms must leverage a broad and diverse range of data sources to assess consumer outcomes effectively, ensuring the insights derived are comprehensive, accurate and reflect the complex nature of consumer behaviour.

This approach requires firms to incorporate more innovative and varied sources, such as transactional data, social media interactions, behavioural analytics and even alternative data to gain a well-rounded view of consumer experiences and needs.

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