Banks can now more accurately identify ‘unprofitable’ or costly customers

11th November 2019

Advances in banking technology are putting vulnerable customers at risk of discrimination, a former City regulator has said. Mick McAteer, a former board member at the Financial Conduct Authority (FCA), said lenders and insurers were gaining access to tools to more accurately identify “unprofitable” or costly customers, increasing the risk of exclusion for certain sections of society.

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