Consumer Duty compliance & customer centricity made easy

Wealth Managers

Many advised clients still feel that their adviser doesn't know them. Fact finds are imperfect and ongoing suitability checks can be laborious and occasional. Advisers can be slow to respond to changes in client circumstances as a result.

With Moneyhub

Moneyhub's Open Finance solution can automate factfinds; improve disclosure and provide deeper insights into capacity for risk and loss. This can be an ongoing suitability check looking at cash flows and net worth changes supported by behavioural nudges to the client and/or the adviser to explore corrective actions.

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Investment Firms

You design a complex investment product with a sophisticated target market. To prevent harming customers outside of the target market, the manufacturer only sells it with advice from a skilled, expert distributor who can identify consumers who can adequately handle the risk.

With Moneyhub

The ability to define and segment your target market is greatly enhanced through Moneyhub - our platform is able to quickly and cost effectively provide a holistic view of the customers financial position. Our Open Finance technology supports transparency through the supply chain and monitors both product and agent performance alongside suitability checks at an individual customer level in near real-time.

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Lenders

Some of your customers who are less financially resilient are not making payments on time and now are paying substantial sums in late fees.

With Moneyhub

By modelling customer outcomes based on past cash-flow insights gathered through our platform, we can help prevent problems before they occur.

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Insurers

Some insurers have complex claims processes that deter people from pursuing claims. For example, you require customers to provide evidence of the loss, or provide notice when a loss occurs and will only accept hard copies of all evidence. Insurers should not impose unnecessarily restrictive, rigid or arbitrary administrative requirements on its customers that hinder them from making a valid claim.

With Moneyhub

Our platform allows consumers to record transactions and store photo images of receipts and valuables. Documents can be scanned and uploaded for proof of ownership, valuations, and loss assessments. This provides easily accessible evidence in support of a claim for loss or damage. Consumers can also manually note details of their insurer and policy in the app. This helps to reduce friction in the process for the consumer and saves time and cost in claims handling for you.

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Retail Banks

A customer telephones their bank to transfer money from a savings account into a current account, to avoid going overdrawn. They wait on hold for a long time but are unable to get through to an agent to make the transfer. This results in the customer going overdrawn and incurring charges. It is very likely in this example that you would have failed to meet customer service standards.

With Moneyhub

Through our Open Banking payments technology, your customer could sweep money from one account to another as a one-off transaction, or by setting up an automated rule. This rule would trigger a withdrawal from a savings account when the current account balance hits a threshold level, through a notification or an automated payment to avoid overdraft charges. This customer wouldn’t have even needed to call customer services

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