Regulators across just about every sector we are engaged in have made ‘vulnerable customer’ policy a priority and will continue to do so for the foreseeable future.

Ensuring that customers in vulnerable circumstances are protected and receive fair outcomes is not just a regulatory requirement, it’s a moral duty for firms supplying essential products and services. Doing your part for vulnerable customers also leads to continued customer advocacy and loyalty among customers.

But identifying customers in vulnerable circumstances – and taking action to support them – is not a simple matter. “Vulnerability” can be a permanent state (resulting from disability, for example) but it can also be a temporary state caused by one of life’s many challenges.