Implementing the FCA’s Consumer Duty: our commitment to delivering good outcomes for retail customers

Today, Monday, July 31, the new Consumer Duty regime comes into force. The Financial Conduct Authority (“FCA”), through the implementation of the Consumer Duty, is establishing higher standards for authorised firms in obligating them to act to deliver good outcomes for retail customers.

At LendInvest plc and its FCA authorised entities, LendInvest Funds Management Limited and LendInvest Loans Limited, we have been diligently working over the past year to implement the necessary policies, processes, guidance, training, and reporting to meet the expectations of the Duty.

Being a responsible lender and ethical market participant, our main focus is to ensure that our customers are at the heart of our business model. We want to act in their best interests and provide them with the utmost support.

In line with the new regulations, we’ve carefully reviewed our communications, offerings, and interactions for our regulated lending and investment products. Our goal was to identify and address any potential risks of foreseeable detriment as well as to try to ensure that our products and services align with our customers’ needs and expectations and help them to achieve their financial objectives. It’s essential to us that our customers have the confidence they need when engaging with us.

We understand that in intermediated and chain relationships, various parties may play a role in determining or influencing customer outcomes. To support intermediaries in meeting their Duty obligations and ensuring positive outcomes for end-customers, we’ve put together a range of helpful documentation.

You can find these valuable resources in the Consumer Duty section of our website: https://www.lendinvest.com/intermediaries/resources/

Ultimately, the Consumer Duty is all about treating customers with the respect they deserve. We firmly believe that our relationship with customers should be based on explicit commitments to service, care, and support. This commitment isn’t just a regulatory requirement; it’s a fundamental aspect of who we are as a company.