Consumer Protection Code – Digital Products & Services
The delivery of products and services through digital channels can provide many benefits for consumers.
Regardless of the technology used by firms to interact with consumers, the obligations of the Consumer Protection Code must be met. Financial services firms’ digital platforms (such as apps and websites) must secure customers’ interests.
This means that:
- Apps and websites that firms use to engage with you should be easy to use while delivering consistent and objective outcomes that serve your interest.
- Guidance, support and assistance must be available to you when you are using a digital platform for the provision of a financial service or product.
- When using digital technology, firms must ensure that their products, services and digital engagement practices are not designed to unfairly exploit the behaviours, habits, preferences, or biases that could lead to customer detriment.
The Consumer Protection Code: For clarity, for informed decision-making, for you.
See also:
Protecting consumers in vulnerable circumstances
How can digitalisation of payments affect consumers in vulnerable circumstances?