By popular demand from The Forum’s members, we’re taking a deeper dive into the world of behavioural science.
Whilst we feel we are familiar with behavioural science because of the nudge unit, its business application is maturing and becoming more widespread. This half-day conference will delve further into the component aspects of what this means for your business. How can you apply this in your thinking on consumer duty? What is the concept of “sludge” and how do you avoid it? How do you test products for compatibility with new legislation? How can this be applied for best practice when engaging with vulnerable customers?
- Phoebe Kent, Lead Behavioural Designer, Cowry Consulting
- Natalia Gómez, Senior Behavioural Researcher, Cowry Consulting
- Jeremy Mugridge, Head of Marketing & Behavioural Science, Quilter
- Dr Simon Moore, CEO, IB
- Jamie Halliday, Strategic Customer Insights Director, IB
- Claire Hovey, Founder & Creative Director, Copy & TV
- Susan Coburn, Communications Consultant, Copy & TV
More speakers to be announced in the coming weeks. Check back here for regular updates!
ARRIVALS & REGISTRATION
|SESSION I: THE SCIENCE BEHIND UNDERSTANDING FINANCIAL INFORMATION (Jeremy Mugridge, Head of Marketing & Behavioural Science, Quilter; Phoebe Kent, Lead Behavioural Designer, Cowry Consulting; Natalia Gómez, Senior Behavioural Researcher, Cowry Consulting)
Behavioural science techniques are becoming more commonplace within business to achieve a range of different outcomes. The New Consumer Duty guidance has now placed even greater importance on communicating with customers in a way that truly promotes understanding. In this context, it's important to ask - which behavioural science interventions best drive understanding? Which elements of language and design drive perceptions of simplicity and engagement that ultimately encourage people to interact with and act on financial information?
|SESSION II: BEHAVIOURAL SCIENCE & CONSUMER DUTY – FOUR PILLARS, ONE EXPERIENCE (Jamie Halliday, Strategic Customer Insights Director, IB)
We take a look at how behavioural science can be applied across all four of the Consumer Duty pillars to prevent financial harm and create better outcomes for customers. With a renewed focus on improving customer outcomes and building upon the existing treating customers fairly legislation, how can you better the experience for your own clients?
|SESSION III: FRICTION: FRIEND OR FOE? (Claire Hovey, Founder & Creative Director, Copy & TV; Susan Coburn, Communications Consultant, Copy & TV)
The Consumer Duty has a strong focus on reducing the barriers to customers acting in their best interest, creating more smooth experiences. Unnecessary friction can get in the way of good outcomes and create frustration for consumers, but can you also use friction for good? Are there circumstances in which introducing controlled friction would benefit the consumer, and nudge them towards better outcomes?
|SESSION IV: EXPERIMENTS, EVIDENCE & TESTING: HOW BEHAVIOURAL INSIGHT CAN HELP TEST PRODUCTS AGAINST NEW LEGISLATION (Dr Simon Moore, CEO, IB)
Financial Institutions have made steps to create more customer-focussed experiences and communications, but new regulation will require them to go further. How can you test your products to make sure that they are compliant of your new responsibilities whilst still providing a positive consumer experience? We take a look at the methods and tools available for turning behavioural science into behavioural change whilst ensuring positive outcomes for your customers.