Application

Please complete all sections below and press 'Submit'. Please send supporting evidence separately to partnerships@deriskly.com before 31 May 2024.
Further information on supporting evidence and judging criteria are found on this page.

Company Name

Contact Person

Work Email

Category (select up to 2)

Consumer Duty Leadership in Consumer FinanceConsumer Duty Leadership in Retail BankingConsumer Duty Leadership in Consumer InvestmentsConsumer Duty Leadership in InsuranceConsumer Duty Champion of the Year (Individual)Leadership in the Use of Technology for Consumer DutyConsumer Duty Leadership by a FintechLeadership in Addressing Vulnerable Customers' Needs

Why do you think you/your firm should win the Award in your select category/categories? (100 words max).Describe your approach to implementing the Consumer Duty to date. What makes it excellent and innovative in relation to the cross-cutting rules and four outcomes - Products, Support, Price, Understanding? (200 words max).

Please outline how you have embedded the Consumer Duty across your firm and how your approach exceeds regulatory expectations (200 words max).

Please summarise any improvements in outcomes for your customers resulting from your approach to the Consumer Duty so far. Please include specific metrics, case studies and/or other evidence that can demonstrate such impact on customer outcomes (200 words max).

Please outline your plans for the next two years in terms of further developing your approach to the Consumer Duty (200 words max).

Supporting Evidence

You can provide up to five pieces of supporting evidence as part of your application. This could include (but is not limited to):

Data and Metrics: Reports, surveys, performance indicators, etc., showcasing what has changed, i.e., improvements and outcomes.
Case Studies: Examples demonstrating your approach to embedding the Duty that has had a positive impact on customer outcomes, including changes you have made to policy, products and processes.
Customer Engagement and Feedback: Details of consumer engagement and feedback mechanisms and channels, summaries of key feedback received, and how it has influenced your approach.
Future Plans: Roadmaps or projections outlining your future plans in approaching the Duty.
Any external, independent validation and assurance of the content submitted.

Please send the supporting evidence in pdf or word format to partnerships@deriskly.com before the deadline of 31 May 2024 with the subject matter: ‘Consumer Duty Leadership Awards Application - Supporting Evidence’.

‍By submitting your application, you agree that your contact details and information provided in your application will be shared with the judges and organisers of the Awards.

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What are judges looking for?

‍1. Putting customers’ needs first: This criterion assesses how the applicant centres their strategies around customers’ needs. It encompasses active and effective engagement with their customers’ problems and needs, and commitment to understanding, addressing and anticipating such needs, and integrating customer input and feedback in delivering good outcomes. This also includes effective engagement with vulnerable customers.
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2. Exceeding regulatory expectations: This criterion assesses the applicant's consistent and ongoing efforts to not only meet but surpass minimum regulatory expectations. The applicant should demonstrate a track record of proactive initiatives, continuous improvements, and a commitment to going beyond compliance, i.e. delivering higher standards for the industry.

‍3. Cultural embeddedness: This criterion focuses on the integration of the Consumer Duty within organisational culture. The applicant should clearly demonstrate how deeply and consistently the Duty is ingrained across all levels and departments of the firm. This criterion seeks tangible evidence of the Duty being part of the firm’s ethos rather than just an element of a compliance checklist.

‍4. Innovative approaches to implementation: This criterion evaluates the novelty and creativity of strategies and methods employed by the applicant in implementing the Consumer Duty. It could include the innovative use of technology, methodologies and tools that showcase a forward-thinking approach.