In a recent speech (February 2025) delivered by Emily Shepperd, Chief Operating Officer at the FCA, firms were reminded that ‘culture will continue to be a regulatory concern’ as it ‘drives conduct and decision-making, which directly impact outcomes for consumers’.
Our engagement with firms has highlighted that many are still struggling to measure the critical impact of cultural change in delivering improved outcomes – and, specifically, how employees become competent in delivering them.
The FCA breaks culture down into four key areas: Rewarding and Managing People, Leadership, Purpose, Governance. Measuring competence across all four areas is essential to driving a customer-first culture.
- In our recent webinar with Avyse Partners – Risk and Compliance Outlook for 2025: Separating the urgent from the important – 55% of 392 senior financial services professionals polled said that ‘establishing a culture of shared risk and compliance responsibility across the enterprise’ was their biggest challenge.
- 24% of 557 senior financial services professional polled in our January 2025 webinar – Consumer Duty Board Report: 5 Questions Every Firm Should Ask (And Answer) – in conjunction with Square 4, stated that ‘effectively demonstrating and articulating culture and business strategy in their 2025 Board report’ – often due to poor data quality – would be a significant problem for them this year.
How Clever Nelly can help…
Clever Nelly is at the forefront of supporting firms to improve, embed and measure the critical impact of cultural change in delivering good customer outcomes. Learn more about how we help firms by reading our case studies below.
Authentic approach
to FCA’s Consumer Duty
9% improvement
in Customer Outcomes
35% reduction
in call hold time
62.5% reduction
in complaints
A transformative impact
on colleague in-role development
30% improvement
in advisor speed to competence