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MorganAsh upgrades to MARS vulnerability tool in light of Consumer Duty

  • 08/03/2023
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MorganAsh upgrades to MARS vulnerability tool in light of Consumer Duty
Financial services software provider MorganAsh has updated its client vulnerability tool ahead of the incoming Consumer Duty.

Its MorganAsh Resilience System (MARS), which aims to understand and manage client vulnerability, now allows users to book real-time appointments for a nurse assessment. This is to be used in circumstances where the client has severe physical or mental health issues, or when an adviser needs an independent party to conduct the assessment. 

The platform can also now allow users to assign treatments to clients based on their resilience rating or based on their age group. 

The MARS resilience rating gives clients a ranking from one to 10.  

The content of the vulnerability questionnaires can be personalised, as well as the level of detail in their assessment certificates and the text of emails and messages sent to clients. 

Additionally, the update means firms can set specific options on individual cases or at a firm level. 

The platform can be used by anyone in the financial services sector. 


Technology key to implementing Consumer Duty

Andrew Gething (pictured), managing director of MorganAsh said: “As we get closer to the implementation deadline of Consumer Duty, we’re really pleased to be supporting our users across financial services with these upgrades to MARS. 

“In its latest correspondence, the Financial Conduct Authority has made it very clear that investing in technology and data strategy should be a clear focus for firms as we head towards full implementation in July. Fundamental to all of this is an objective and consistent approach to managing and monitoring vulnerability data. These powerful upgrades aim to make that task much easier for all firms.” 

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