The Financial Ombudsman identified a quarter of customers who brought complaints in last year as vulnerable, up from 10% in the previous year.
Figures for 2025/26 show it recorded 52,900 customers as vulnerable, compared to 32,000 in 2024/25 when there was a higher total number of cases due to the impact of the motor finance scandal
The Ombudsman says this increase follows training and other work to help identify vulnerability.
It comes after the Financial Conduct Authority found last year that many vulnerable customers do not identify themselves as such, putting the onus on firms and regulators to do more in order to ensure they do not slip through the net.
The FCA’s research revealed that only four in 10 vulnerable customers disclosed their needs to their financial services provider.
However, the research shows those that do open up tend to have better experiences.
Three quarters, or 74%, of vulnerable customers who told their firm about their circumstances said that staff asked the right questions to understand their situation, 57% said their firm ‘cared’, and 58% said their firm took action to provide support they needed.
