Consumer Duty
Can you demonstrate good customer outcomes, not just Consumer Duty compliance?
TCC helps firms Turn Consumer Duty requirements into measurable outcomes, stronger governance and greater regulatory confidence.
The FCA expects firms to demonstrate good customer outcomes, not simply compliance. TCC helps organisations evidence outcomes, assess customer journeys, strengthen governance and monitor foreseeable harm. We support boards with the insight and assurance needed to oversee Products & Services, Price & Value, Consumer Understanding and Consumer Support.
What we help with
Turning Consumer Duty requirements into measurable outcomes
When do firms typically come to TCC?
Clients typically engage TCC when preparing annual assessments, reviewing customer journeys, strengthening outcome monitoring, assessing fair value frameworks, validating target market assumptions or responding to concerns around foreseeable harm, vulnerable customers and customer support.
What does a TCC engagement look like?
We begin by assessing how Consumer Duty operates across the organisation, from governance and management information through to frontline delivery and customer outcomes. We review evidence, assess target market governance, test customer journeys, evaluate monitoring arrangements and identify gaps. Our recommendations focus on practical improvements that help firms create stronger controls, better oversight and more meaningful outcome evidence.
What do clients receive at the end?
Clients receive a clear view of Consumer Duty strengths, weaknesses and priority actions. Outputs may include outcome monitoring frameworks, fair value assessments, customer journey reviews, governance enhancements, board reporting packs, annual assessment support and practical recommendations that strengthen customer outcomes across the business.
Services covered
Helping firms evidence good customer outcomes, strengthen assurance and sustain proportionate Consumer Duty frameworks
The FCA has moved its focus from implementation to evidence, and firms are now expected to show that products, services and customer journeys deliver good outcomes in practice. TCC combines specialist Consumer Duty expertise with managed services, flexible resourcing and technology-enabled solutions to help organisations strengthen governance, improve day-to-day monitoring and respond confidently to regulatory scrutiny.
- Consumer Duty assessments
- Outcome monitoring frameworks
- Fair value reviews
- Customer journey testing
- Annual assessment support
- Board reporting
- Foreseeable harm reviews
- Governance frameworks
- Closed product reviews
- Consumer support assessments
Case studies
Our Consumer Duty expertise in practice
Compliance AI & RegTechProject rescued by RegTechUsing a combination of regulatory insight, automation and intelligent case management, TCC Group transformed a complex review involving more than one million customers, reducing remediation volumes…Read more →
Specialist resourcingFlexible overflow business assurance relieves internal pressureWorking as a seamless extension of the client's internal assurance team, TCC Group provided flexible file-checking capacity, identified emerging risks and supported improvements to adviser training…Read more →FAQs
Common questions
What does the FCA expect firms to evidence under Consumer Duty?
The FCA expects firms to demonstrate that customers are receiving good outcomes in practice. This includes evidence covering products and services, price and value, consumer understanding and consumer support.
What is a Consumer Duty annual assessment?
A Consumer Duty annual assessment is a documented review that helps boards evaluate whether the firm’s Consumer Duty arrangements are delivering good customer outcomes and identify areas for improvement.
How can firms evidence good customer outcomes?
Evidence may include customer outcome testing, complaints analysis, management information, vulnerability monitoring, quality assurance reviews, customer journey testing and fair value assessments.
What is foreseeable harm under Consumer Duty?
Foreseeable harm refers to harm that firms could reasonably anticipate customers may experience throughout the lifecycle of a product or service, and which can often be mitigated through appropriate controls, communications or support.
Why are customer journeys important under Consumer Duty?
Customer journeys help firms understand how customers interact with products and services in practice. Testing customer journeys can identify barriers, confusion, poor support experiences and potential outcome risks.
How does Consumer Duty affect vulnerable customers?
Consumer Duty reinforces the requirement to achieve good outcomes for all customers, including those in vulnerable circumstances. Firms should be able to demonstrate that vulnerable customers receive appropriate support and are not experiencing avoidable harm.
How often should Consumer Duty frameworks be reviewed?
Consumer Duty should be subject to ongoing monitoring and regular review. Annual assessments, significant business changes, new products, regulatory developments and changing customer needs may all trigger further reviews.
How can TCC help with Consumer Duty?
TCC supports firms with Consumer Duty assessments, outcome testing, customer journey reviews, fair value assessments, annual board reporting, vulnerability reviews, governance frameworks and ongoing monitoring programmes.
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