Our new report ‘Mind the gap: Rethinking financial services language’, developed in partnership with YouGov, reveals that for many UK consumers, the answer is: not well enough.

In today’s fast-moving and highly regulated market, clear communication isn’t just a “nice to have”—it’s a regulatory and commercial necessity. With the introduction of the FCA’s Consumer Duty in 2023, businesses are under more pressure than ever to ensure customers genuinely understand what they’re signing up for.

We surveyed 2,500 UK adults responsible for household financial decisions. Each participant was shown only one of three versions of a payment plan communication, with each version featuring a different level of simplification.. We then asked them about their understanding, attitudes, and likely actions.

Regulators are raising the bar. It’s no longer enough to simply meet disclosure requirements—firms must show that customers truly understand the products, risks, and costs involved. The recent Motor Finance Commission has only increased the focus on this issue.

We’ve already helped clients, including major banks, simplify their communications and adapt to new regulatory expectations. Our team has deep experience advising on Consumer Duty and can support you in making your communications clearer, more effective, and fully compliant.