Meet FCA Consumer Duty standards with Kalgera's deep learning vulnerability product that identifies, monitors and helps protect vulnerable customers of banks and other financial institutions
The FCA’s New Consumer Duty takes effect in July 2023 and sets out a requirement to understand the scale, nature and needs of your financially vulnerable customers. The FCA has already begun proactively requesting details on steps taken by banks and financial institutions to meet the Consumer Duty. Kalgera identifies and monitors vulnerable customers, so your products and safeguards stay industry leading at preventing harm.
Kalgera uses cutting-edge cognitive neuroscience research filtered through a proprietary deep learning stack to unlock the financial behaviour captured in transaction data. We analyse this to categorise customer vulnerability on an ongoing basis through regular monitoring. Kalgera’s secure cloud platform integrates with your CMS so your support and sales teams have the data they need, when they need it.
53% of UK consumers show characteristics of financial vulnerability. Kalgera’s data lets your support and vulnerability teams prioritise the most at-risk customers, and uses the latest explainable AI to tell you why they’re vulnerable. Inform nudge systems for customers struggling with financial resilience towards support with debt, identify potential cases of financial abuse and discover possible life events that might benefit from CS intervention.
We create value through improved efficiency. We help distinguish between normal activity and potential abuse, enabling better allocation of resources and reducing operational costs. It allows you to pro-actively manage risk while also providing new customer insights.
Our financial vulnerability detection system quickly identifies customers who are at risk and interprets their behaviour. We implement and scale on your infrastructure with no disruption to your operations. Preventing harm to customers from fraud and scams will become seamless and more intuitive, without costly technical development for your institution.
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