Fintech and consulting firm Altus has launched a pre-recorded video training series for financial services professionals on how to work with vulnerable customers.

The aim of the training videos is to help professionals develop “skills and capability” in a "complex and sensitive area."

The series is designed for all financial services organisations and employees. 

The launch of the online training tool follows the launch of a Vulnerability Radar that Altus developed with trade body TISA. The Vulnerability Radar enables firms to assess their capability in supporting vulnerable customers.

The new training programme is delivered by pre-recorded modules designed to integrate with learning and management systems. 

The programme, available on a paid basis, uses the latest regulation and industry best practice to help identify and support people coping with characteristics of vulnerability.

Earlier this year the Financial Conduct Authority released its final guidance paper (FG21/1) on vulnerable customers. 

Altus consultant Jonathan Warren, who designed the training tool, said: “Vulnerable customers is a regulatory topic which impacts across the organisation. The FCA has already warned that senior leaders and all staff must be able to demonstrate an understanding of the fair treatment of all customers, including vulnerable customers, while emphasising the skills and capability of staff as one of their six, summary actions.

“We have developed the training series after receiving requests to support training, which clearly becomes difficult to deliver in-person, at scale.” 

Altus was founded in 2005 and provides consultancy services and automation software to over 100 clients in the pensions, general insurance, investment platforms and wealth management sectors. The firm was acquired by global insurance and investment solutions provider Equisoft in July.