What you need to know this week
- Data from Money Wellness revealed 3,994 visits seeking debt advice during the Christmas period, highlighting growing financial pressures.
- Rising costs are expected in 2025, including food, energy, water, and council tax.
- Citizens Advice identified low awareness of water social tariffs, with 42% of eligible individuals unaware of their existence.
- Darryl Matthews joins Inicio AI as CX Director, emphasising strategic creditor liaison in 2025.
- The FCA investigated unauthorised debt and claims management activities, conducting searches and arrests.
- Cybersecurity remains critical; firms should advance beyond Cyber Essentials to build resilience and trust.
- The FCA published new rules to strengthen resilience in the UK financial sector, effective 1 January 2025.
- Ransomware-as-a-service (RaaS) continues to evolve, necessitating adaptive defence strategies.
- Nigel Bryant’s blog highlights the deployment of vulnerability toolkits and disruptive technologies in 2025.
- The FCA outlines retail banking priorities for 2025, including Consumer Duty, operational resilience, and financial crime prevention.
- Intelligibility and consumer understanding remain key FCA focus areas, with related events scheduled for February 2025.
- FourNet’s CX Roadshow in February 2025 will address digital transformation and leveraging AI in debt resolution.
Read the full summary – here
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