In this blog, senior financial sector specialist Antonique Koning reminds financial services providers and regulators of their duty to protect customers especially now during the ongoing Coronavirus pandemic.
Koning writes that the pandemic has left many people financially distressed, with providers’ actions and inaction making it even more difficult for customers.
People are making uninformed financial decisions amid a lack of clear information, falling victim to scams and having a hard time reaching providers to resolve issues, she adds.
Koning calls for a customer outcomes-based approach which enhances traditional consumer protection by putting customers at the center of actions taken by regulators and providers.
