As a company specialising in complaints management systems that support FCA compliance, we’ve seen firsthand how evolving regulations create both challenges and opportunities. The recent debate around the UK government’s stance on Consumer Duty and the Financial Conduct Authority’s (FCA) updated approach has reignited a key question: Can regulation drive business growth?
While some argue that regulations like Consumer Duty restrict innovation and inflate costs, we believe the opposite. When handled effectively, regulation is not just a tick-box exercise — it’s a strategic advantage that builds trust, improves customer outcomes, and drives sustainable growth.
Why the FCA’s Consumer Duty Regulations Matter
The Consumer Duty, introduced in 2023, has recently come under scrutiny. Business Secretary Jonathan Reynolds identified it as a candidate for deregulation, noting that some firms have incurred significant implementation costs — funds he argued could have gone toward job creation and investment (City AM).
However, these regulations are not just burdens — they’re blueprints for better business. The Consumer Duty was designed to ensure that financial services firms consistently put customer needs first, delivering clear communication, fair value, and accessible support.
At Forseti, we believe these principles reflect exactly what modern consumers expect: transparency, accountability, and care. While adopting Consumer Duty standards may involve upfront effort and expense, the long-term ROI in customer trust and loyalty is invaluable.
The FCA’s Growth-Focused Regulatory Approach
The FCA isn’t blind to the economic impact of regulation. In fact, recent correspondence from the authority outlines plans to stimulate growth while maintaining strong consumer protections (FCA Letter).
Key FCA initiatives include:
-
Reforming listing rules to attract investment
-
Improving investment research access and transparency
-
Overhauling financial advice regulations to better serve consumers
These efforts reflect a proactive stance: regulation and economic growth can (and should) work together.
Regulation as a Catalyst for Growth
Let’s shift the mindset: compliance is not a cost centre — it’s a growth enabler.
Firms that embed Consumer Duty principles into their culture and processes don’t just tick boxes. They:
-
Deliver better customer experiences
-
Reduce complaints and disputes
-
Strengthen brand trust
-
Improve operational efficiency
-
Stay ahead of regulatory scrutiny
With the right tools, compliance becomes not only manageable but also a competitive edge.
Forseti: Empowering FCA-Compliant Growth
At Forseti, we help financial services firms navigate and embrace the Consumer Duty with intelligent complaints management systems.
Our platform empowers businesses to:
Streamline Complaint Resolution
Automated workflows ensure every complaint is handled quickly, fairly, and in line with FCA standards.
Monitor and Report Outcomes
Real-time analytics highlight patterns and systemic issues, helping businesses act before problems escalate.
Demonstrate Compliance
Detailed case records make it easy to show regulators that you are meeting — and exceeding — your Consumer Duty obligations.
Complaints: A Window into Customer Experience
Complaints are no longer just compliance tasks — they’re strategic touchpoints. Each one offers insight into customer pain points and an opportunity to build loyalty through resolution.
By leveraging complaints data, firms can:
-
Uncover gaps in service delivery
-
Identify vulnerable customers early
-
Proactively improve products and processes
The result? Happier customers, fewer repeat complaints, and a stronger reputation.
Final Thoughts
Regulation isn’t going anywhere — and nor should it. Consumer trust is the foundation of the financial services industry, and clear, fair regulation like the FCA’s Consumer Duty is essential to building that trust.
Firms that embrace compliance as a growth strategy — not just a legal obligation — will lead the way. With the right systems in place, like Forseti’s smart complaints management platform, compliance becomes a lever for innovation, customer loyalty, and sustainable success.
Ready to turn compliance into a competitive advantage?
Book a demo with Forseti today and discover how our FCA-compliant solutions can help your business grow with confidence.