Vulnerable customers
In FCA terms, a vulnerable customer is someone who, due to their personal circumstances, is especially susceptible to harm, particularly when a firm is not acting with appropriate care. Drivers include poor health, a major life event, low financial resilience and low capability.
Vulnerability can be temporary or permanent and is widespread, so firms are expected to recognise it, respond with appropriate support, and monitor outcomes for vulnerable customers specifically under the Consumer Duty.
In lending, this shapes affordability, communications and how arrears and forbearance are handled.
Credit Canary builds vulnerable customers into one platform for UK lenders, with the data and decisioning behind it.
Consumer Duty readiness checkerSee vulnerable customers in a working platform
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