Comentis provides advisers and lenders with online cognitive assessments to identify clients who may have vulnerabilities.
The firm expects its technology and assessments to become more essential once the Financial Conduct Authority’s Consumer Duty comes into force on 31 July.
Just Group was the first provider to use Comentis’ software and its subsidiary Hub Group piloted the technology for advisers in the lifetime mortgage market.
Comentis: ‘Furthering the conversation around vulnerability’
Jonathan Barrett, chief executive and co-founder of Comentis, said: “With only six months left to prepare for Consumer Duty, all firms must ensure they are able to adequately support their most vulnerable clients. We have been closely aligned with Just Group for a while now and share a strong determination to further the conversation surrounding vulnerability.
“This funding will help us to continue to make significant strides towards protecting those who are most at risk.”
David Cooper, group marketing and distribution director at Just Group, added: “Supporting vulnerable people is an integral part of our customer service and aligns with our core values. For these reasons, we’ve been very active in increasing awareness and understanding in our sector about this topic.
“We are very pleased to support Comentis with this investment round and we judge their solution to be the clear market leader. This investment will help them to achieve broader market adoption and to raise standards in our sector to assess, record and respond to vulnerability – a core tenet of Consumer Duty. We look forward to continuing to work together on achieving the best outcomes for all customers.”
