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A platform aimed at helping advisers identify potential vulnerable clients has launched today.
Clinical tech provider Comentis uses software developed in collaboration with mental health experts and psychologists.
This “cognitive assessment engine” is designed to help regulated businesses to identify potential vulnerable clients.
Comentis said this new tool was bringing “objectivity, scalability, and consistency” to the process, enabling advice professionals to mitigate risks and better protect clients.
The FCA published guidance on the fair treatment of vulnerable customers last February, revealing that 24 million adults in the UK are defined as vulnerable clients.
Comentis co-founder and chief executive Jonathan Barrett said: “At a time of mounting regulatory pressure and increasing customer vulnerability, deploying solutions that will support firms in the identification and triaging of vulnerable clients has never been more paramount. Our clinical and digital-based solution allows us to deliver solutions to the market at pace and scale – a first for the financial sector.