Consumer Vulnerability & Financial Services

The new thinking and psychology that can address
the issue of vulnerable customers.

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Making Vulnerability a Digital Issue

Our digital psychology arm has developed a proprietary method for assessing the likelihood that a customer is vulnerable from their behaviour within a purely digital transaction - such as the purchase of a personal loan or investment product.
LAB's Intra-Browser Vulnerability Assessment (IBVA) was developed in response to the Financial Conduct Authorities focus on vulnerable customers of companies and the looming requirement for their needs to be addressed clearly at all stages of product design and delivery. 
IBVA is based on the calibration of residual physical and behavioural aspects of human interaction with information on screens in front of them that can build a picture of the psychology of the person behind their choices, movements and speeds of interaction.  
Following a meta-analysis of the psychological literature relating IT interaction and behavioural analysis over the last 25 years, LAB set about mapping observable digital behaviours onto underlying personality traits and vulnerability characteristics. The results proved surprising when put into practice.