Comentis

Simplifying compliance requirements around the identification and reporting of financial vulnerability

Comentis is the duty of care assessment company. By uniquely combining clinical and technical expertise, we enable regulated firms to consistently and objectively identify financially vulnerable customers/clients through an easy-to-use, clinically developed digital assessment which flags those at risk and allows users to log interventions and outcomes.

An assessment can be discretely integrated into existing sales journeys/advice processes, providing a seamless experience and enabling your clients to meet FCA regulatory requirements more easily. We have developed specific assessments for the following sectors:

• Wealth and Financial Advice
• Mortgages and Later Life Lending
• Consumer/ Retail Finance
• Automotive Finance

You can find more information here.

How it works

Customers/clients answer a short online questionnaire with a small number of non-invasive questions. The algorithms then identify those who are at risk of financial vulnerability, as defined by the FCA’s vulnerability drivers including resilience and capability.

On completion of an assessment, a detailed vulnerability report is created for the individual’s file and any recorded actions are saved in an intervention log, providing a complete audit trail.

Unrivalled Analytics and Reporting

Comentis provides unrivalled analytics and reporting around financial vulnerability with a vulnerability dashboard, giving you full oversight. Using the primary data from the assessments, our platform produces clear and straightforward reporting on:

• User analytics
• Identified risks – providing oversight on the whole customer/client base
• Interventions and outcomes – what actions have been taken and what risks have been confirmed and mitigated

By using the assessment platform, your clients will not only be ensuring the consistent and objective identification of vulnerable customers/clients, but also make the future recording of actions and reporting to the FCA easier, quicker and more accurate.

Class leading expertise

What sets Comentis apart is its clinical pedigree and team of inhouse experts, each with years of experience in the fields of mental health assessments, clinical psychology, and mental capacity. Developed alongside financial services professionals, Comentis delivers an unrivalled solution for the identification of the financially vulnerable.

Comentis has gained support from the FCA in developing its platform as part of the FCA Innovation Hub Program. They are also subject matter experts on the PFS Vulnerability Taskforce and members of the TISA vulnerability Working Group and TisaTech.

“Vulnerability is so challenging for financial advisers to identify objectively, yet in these times more financial advice customers than ever are likely to fall into that category. Not only does the Comentis solution help firms meet their regulatory obligations, it also enables advisers to evidence this and sensitively approach vulnerability, leading to better outcomes for the end-customer.”   

Marjolaine Quirke

Director of Client Delivery, Tenet Compliance Services

Contact details

Email: hello@comentis.co.uk

Tel: 0203 3282 0582

www.comentis.co.uk/financial-vulnerability