Understand who the vulnerable customers are in your business, and track and report vulnerabilities effectively

As now reinforced in the new Consumer Duty, every firm should take all reasonable steps to predict and define the likely characteristics of customer vulnerability within their business.

Ensure FCA compliance by learning how to better identify and respond to vulnerable customers. 

Voyc monitors 100% of your customer interactions and delivers alerts for immediate action.

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According to the UK’s FCA, 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 levels of care”.
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Why download Vulnerable Customers White paper?

The need to provide vulnerable customers with appropriate care is on top of businesses’ agenda due to recent important developments:

  • FCA update on areas requiring further improvement in the treatment of vulnerable customers
  • The growing cost-of-living crisis
  • The FCA’s Consumer Duty is implemented

 

Understand why treating vulnerable customers fairly is now a major regulatory and moral focus for financial services providers. How can you massively improve the chances of noticing and responding to signs of customer vulnerability?

 

 

What will you find in Vulnerable Customers White paper?

 
  • Read about strategies that will significantly improve the chances of noticing and responding to signs of customer vulnerability.

 

  • Learn more about the 4 key drivers influencing vulnerable customers and how you can predict likely vulnerability categories in your own business, using the FCA’s definition of a vulnerable customer.

 

  • Discover how an AI-powered compliance monitoring technology can support you in identifying interactions where a customer needs additional attention due to a vulnerability, and ensure you remain compliant, while improving customer experience.

 

  • Learn how Voyc can help you monitor 100% of your customer interactions to maximise your ability to treat vulnerable customers fairly, and improve the effectiveness of your vulnerable customers policy.
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Voyc uses complex AI-powered models to detect signs of 70+ potential vulnerabilities in customer calls

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What are the 4 key drivers influencing the risk of a customer becoming vulnerable?

Health

Conditions or illnesses that affect one’s ability to carry out day-to-day tasks.

Life events

Such as bereavement, job loss or
relationship breakdown.

Resilience

Low ability to withstand financial or emotional shocks.

Capability

Low knowledge of financial matters or low confidence in managing money (financial capability). Low capability in other relevant areas such as literacy or digital skills.

Need Proof?

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Client Case Study: Advantage Finance

  • 100% of customer calls are now automatically monitored, a substantial increase from the previous 1-2% calls manually monitored across collections, support, and sales.
  • The QA team has increased the number of calls on which they provide feedback to agents by over 600%.
  • The need to listen to entire call recordings has been eliminated, saving significant time for QA agents and managers.
  • The integration of Voyc has helped mitigate operational risk by acting as a secondary defence alongside the existing security systems.
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Client experience

“Do I feel more confident today than where we were a year ago in terms of being able to show evidence of good customer outcomes? I’m 100%, in fact, hundreds of percent more confident that we’d be able to provide that level of evidence”
Graham Wheeler
Graham WheelerCEO, Advantage Finance
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About Voyc

What does Voyc do?

Voyc helps you succeed in the face of changing consumer needs and increasing regulatory expectations – by monitoring 100% of your customer interactions.

Voyc  sends alerts whenever certain words or sentiments occur – or mandatory phrases are omitted. Managers can then respond instantly and effectively. And you receive detailed reports – to streamline tracking and reporting customer vulnerabilities in your customer-facing operations, provide an audit trail for regulators, and evidence good customer outcomes.

Voyc AI technology swiftly identifies vulnerable customers, enabling financial firms to offer crucial support while rapidly addressing agent coaching needs.

Voyc software streamlines your workflows and boosts your team’s effectiveness. It helps your customer operations maintain the highest regulatory standards. 

In addition to customer vulnerabilities, you may also wish to monitor:

Complaints

Including escalation requests (“Put me through to a manager”) and intention to report an issue on social media.

Call Guide adherence

Ensuring that calls are fully compliant for content, risk warnings and mandatory disclosure.

Sales Completion

Highlighting cases where, for example, the customer might
not have firmly agreed to the contract.

Lapse Prevention

Spotting and acting on calls that suggest the imminent
defection of a valuable customer.

Client experience

"Voyc has allowed us to have greater control over our recording and caring for clients that identify as having vulnerable characteristics. The alerts are easy to use and mean our compliance team can in real time identify clients that our agents may miss as requiring extra care, and adapt our services accordingly.”
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Poppy KellyCompliance Manager, Hilltop Finance

What sets us apart

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See value in less
than 1 week

Voyc is an easy-to-set-up, full cloud solution. You can be up and running in just one day.
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8.9 Ease of
use Score*

*Source:
G2.com, Inc.
Our customers value how easy it is to use Voyc and it’s reflected in the high G2.com rating.
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2min Support
Response Time

Our experienced and friendly support team is always available to handle any queries.
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Bank-grade
security

Our security is built from the ground up and complies with privacy laws and ordinances. Our encryption capabilities protect your customer and company data.
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The Vulnerable Customers White Paper provides all necessary information to better identify and respond to customer vulnerabilities
Fill out the form and get a complimentary copy
  • Identify various types of customer vulnerabilities that can be spotted in contact centre calls.
  • Discover how to track and report customer vulnerabilities
  • Maximise your ability to treat vulnerable customers fairly for better customer experience and increased loyalty sentiment
  • Improve efficiency of your support team & reduce stress on agents.
  • Learn how an AI compliance call monitoring solution can support your managers and QA team in identifying calls where a customer needs additional attention due to a vulnerability