Financial services AI
Consumer Duty
The UK expectation that firms deliver good outcomes for retail customers.
Definition
The FCA Consumer Duty requires firms to act to deliver good outcomes across products, value, understanding and customer support.
Why it matters
AI-generated communications and service decisions should be tested for comprehension, fairness, vulnerability and foreseeable harm.
Related concepts
- Conduct risk
Risk that a firm's behaviour produces poor customer or market outcomes.
- Evaluation suite
A coordinated collection of evals covering different capabilities and risks.
- Human in the loop
A person reviews, approves or corrects AI-assisted work.