Behavioural science trial showed redesigned communications more than doubled understanding, highlighting gaps between perceived and actual understanding.

New research from Broadridge Financial Solutions (Broadridge) has revealed that legacy Financial Conduct Authority (FCA) disclosure rules may be actively undermining customer understanding as well as increasing the potential for customer harm. The findings showed a critical challenge for firms working to meet consumer duty requirements The study, ‘The Consumer Duty Compromise’, involved 1,500 UK savings participants and 60-minute interviews with seven UK savings account customers