Pressure on financial firms to treat vulnerable customers fairly is rising. The Financial Conduct Authority (FCA) underlines this urgency in their comprehensive 2025 review of vulnerable customer treatment. Protecting individuals in vulnerable circumstances sits at the heart of the Consumer Duty. With these updated regulations, the FCA expects firms to deliver meaningful, long-term protection for vulnerable customers.
At Equivo, meeting FCA requirements is about much more than ticking boxes: it’s about transforming culture and leading by example. We deliver practical, compliant solutions that help clients put vulnerable customers first. In this blog, we break down key FCA findings, explore why protecting vulnerable customers matters, and show how proactive action leads to better outcomes under the Consumer Duty.
What Does It Mean to Be a Vulnerable Customer?
The FCA defines a vulnerable customer as someone whose circumstances place them at greater risk of harm or poor outcomes. This might be due to health issues, financial pressure, major life events, or barriers to digital access. Often, these challenges overlap, increasing the risk and the need for focused support.
The latest FCA report on vulnerable customers highlights that, despite progress, too many individuals still face obstacles. The review finds that 44% of vulnerable customers continue to experience poorer outcomes. Key industry gaps remain, especially in monitoring, prompt communication, and robust internal processes. Closing these gaps is crucial, not just for compliance, but to reflect a genuine culture of care for every vulnerable customer.
The Consumer Duty: Raising the Bar for Vulnerable Customer Protection
The Consumer Duty represented a critical milestone for the financial services sector. Firms can no longer rely on quick fixes or basic compliance efforts, the emphasis is on anticipating needs, delivering effective support, and communicating clearly and transparently, especially with vulnerable customers.
The FCA requires fairness and clarity. Companies must demonstrate not only what they do, but how well they do it, ensuring real, positive outcomes.
What Firms Must Do Under the Consumer Duty
- Identify Vulnerable Customers Early
Develop the expertise to spot signs of vulnerability, whether they are financial, physical, or emotional indicators. - Provide Tailored Support for Vulnerable Customers
Generic approaches aren’t enough. Support should be personalised, meeting each individual’s specific needs and circumstances. - Communicate Clearly and Accessibly
Transparent, easy-to-understand information empowers vulnerable customers to make informed decisions. - Monitor and Review Outcomes
Regularly review and improve processes, ensuring the delivery of good outcomes for all vulnerable customers, as the FCA expects.
The Equivo Way: Our Approach to Vulnerable Customer Protection
For us, meeting and exceeding the expectations of the Consumer Duty requires the right blend of skills, technology, and empathy. Our approach brings together practical support and innovative tools, guaranteeing protection for vulnerable customers at every step.
- Commitment to Awareness and Training
We invest in our people, ensuring all team members are expertly trained to identify signs of vulnerability and respond with empathy and professionalism. Our specialists understand both financial and personal challenges, so your customers are in the caring hands of Equivo. - Clear, Honest Communication with Vulnerable Customers
We use straightforward, plain language with no unnecessary jargon. We inform, support, and listen to every vulnerable customer, ensuring their needs are front and centre to make sure they feel heard. - Personalised Support Plans
Each person is unique, so we tailor our support and action plans to suit every individual. Our bespoke solutions make sure every individual scenario is treated with dignity, and we ensure to always align with Consumer Duty. - Robust Technology for Monitoring
We deploy leading technology to protect both our clients and vulnerable customers. Body Worn Video ensures greater transparency, our Vulnerability Tracking tool flags cases needing extra care, and real-time dashboards enable swift, data-led interventions.
Bridging the Gaps: Setting a New Standard for Vulnerable Customer Protection
The FCA’s 2025 review highlights persistent challenges in supporting those facing overlapping vulnerabilities. Failing to address these is not only a compliance risk, it also threatens trust and reputation.
At Equivo, we help clients bridge these gaps in vulnerable customer protection. We go beyond compliance, helping you strengthen trust and secure better outcomes for vulnerable customers, time after time.
Why Partner with Equivo?
- Compliant, Reliable Solutions - We provide actionable guidance, so you meet every part of the Consumer Duty and exceed FCA standards on vulnerable customer protection.
- Reduced Risk and Greater Confidence - Early detection and tailored support to protect your business reputation and safeguard your vulnerable customers.
- Delivering Better Outcomes for All - Our focus on clarity, fairness, and robust protection leads to improved experiences for clients and vulnerable customers alike.
Leveraging Technology for Effective Support
We invest in technology that enhances vulnerable customer protection at every interaction. From secure video records to automated reporting and intelligent communication platforms, our tech ensures transparency and rapid response. We don't follow a tick-box culture, for Equivo it’s about building trust and supporting every vulnerable customer with care.
Ongoing training and high ethical standards keep us ahead of the competition to quickly deal with emerging challenges. Our promise: to set higher standards every day and lead with purpose in vulnerable customer protection.
Our Commitment: Advancing Vulnerable Customer Protection
The FCA’s focus leaves no doubt as firms must put genuine care and accountability at the centre of their work with vulnerable customers. Equivo leads the way by championing real improvements and supporting long-term industry change.
Are you ready to strengthen your approach and deliver true protection for vulnerable customers? Contact Equivo today for expert help, tailored solutions, and a collections partnership that puts vulnerable customer protection first. Together, we can redefine care, compliance, and customer experience in collections and recoveries.
Your main contact:
Andy is Managing Director of Equivo’s Collections & Field Division has responsibility for operations and service delivery for collections activity across the business. Andy always challenges standard industry practice while keeping fully abreast of regulatory requirements, beliefs that are core to Equivo's operation.
