Mortgage Advice Bureau (MAB) has deployed a financial vulnerability assessment tool across its broker network.
Developed by duty of care company Comentis, the tool will help MAB to identify and support vulnerable customers.
It will be rolled out to MAB’s broker network in August 2025, following a successful four-month trial.
The tool will help to ensure customers are getting the right outcomes, and provides advisers with clear information/data to enable them to offer tailored support to customers.
It will allow customers to input additional information about their circumstances, which will create more consistent, accurate data, and an increase in identification rates.
MAB group chief risk officer Paul Gill says: “We’re excited to be implementing the Comentis tool across MAB. This development is key to helping MAB ensure we continue to meet the Consumer Duty requirements.”
“It’s also testament to how we’re adapting the way in which we better support both customers and advisers, particularly when it comes to identifying vulnerability.”
Comentis chief executive Jonathan Barrett adds: “Following a successful trial, we’re delighted to be supporting Mortgage Advice Bureau with the implementation of our tool.”
“The mortgage sector has a vital role to play in safeguarding vulnerable customers, particularly as regulatory focus continues to increase, especially around identification, support and data.”
“Implementation of this tool is a significant step forward in ensuring mortgage intermediaries meet these crucial obligations, ensuring that vulnerable customers receive the support they need and deserve.”
