Annual Complaints Data 2023/24: Key Trends and Insights
The latest Annual Complaints Data from the Financial Ombudsman Service for 2023/24 provides a view into the evolving landscape of consumer grievances within the financial sector. This year, we’ve witnessed a significant rise in complaints, particularly concerning banking and payments, signalling emerging areas of concern and providing a roadmap for improvements. Here’s a closer look […]
Insight on the Proposed Extension of the Complaint Handling Pause for Motor Finance DCAs
The FCA is proposing to extend the current pause on the 8-week deadline for firms to respond to consumer complaints about motor finance involving discretionary commission arrangements (DCAs) until at least December 4, 2025. This decision follows an ongoing review of the historical use of DCAs in the motor finance sector and recent legal developments. […]
Insight on Extending Rules for DCA Complaints in the Motor Finance Industry
The Financial Conduct Authority (FCA) is consulting on extending the temporary complaint handling rules for discretionary commission arrangement (DCA) complaints within the motor finance industry. This extension is necessary due to delays in collecting and reviewing data and the ongoing litigation that affects the sector. The FCA had initially planned to set out the next […]
TCC Group Acquires Momenta Group
TCC Group acquires Momenta Group to expand compliance and resourcing solutions for regulated industries TCC Group, headed by The Consulting Consortium Holdings company – a leading provider of intelligent compliance and RegTech solutions for financial services and the government – announces the acquisition of the assets and business of Momenta Group trading in the UK […]
Motor Finance: Your Key Steps to Operational Readiness
The motor finance sector has been in the regulatory spotlight recently, specifically concerning the potential requirement for remediation and redress of Discretionary Commission Arrangements (DCAs) and the emerging challenge of increased complaints relating to Affordability and Irresponsible lending. Momenta’s experts explore the main challenges and advise on the next steps for firms to improve their […]
Insurance Firms: How to Prepare to Weather the Seasonal Complaints
Summer brings a distinct shift in insurance claim trends, with a notable rise in travel, home, and auto-related incidents – and with the increase in claims, insurance firms should be ready for an increment in seasonal complaints. Increased road travel leads to more auto accidents and breakdown claims, while vacations often result in a spike […]
Motor Finance: Preparing for the FCA’s Next Steps
On 5 June 2025, the FCA released a statement outlining key considerations for implementing a potential consumer redress scheme related to Discretionary Commission Arrangements (DCAs) in motor finance. This follows the Court of Appeal’s 2024 ruling, which deemed such commissions unlawful without informed customer consent, a decision currently under appeal at the Supreme Court. The […]
One Billion Reasons to Rethink Your Financial Crime Strategy
Investment Fraud Hits £1bn in 2024 – A Wake-Up Call for the Financial Sector In 2024, reported investment fraud in the UK surged to a staggering £1 billion – a sharp 34% increase from the previous year. This alarming figure underscores not only the growing sophistication of financial scams but also the rapid evolution of […]
Changing Face of Financial Crime in 2025: Key Proactive Steps for Banks and Fintechs
Financial crime is becoming more complex and fast-moving. With the rise of digital banks, new payment systems and stricter regulations, businesses are finding it increasingly difficult to keep up. In 2025, financial institutions, particularly fast-growing challenger banks, face greater pressure than ever to detect and prevent financial crime while maintaining a seamless customer experience. The […]
Navigating the Motor Finance Regulatory Landscape: How Firms Can Prepare
The FCA’s recent review of motor finance commission arrangements has thrust the industry into uncharted territory. Following the Court of Appeal’s October 2024 ruling that lenders must clearly disclose broker commissions and obtain informed consent, historic practices are under intense scrutiny. Courts are now considering whether to require compensation for customers mis-sold PCP and HP […]