The digitalisation of financial services presents a unique chance to build better services for consumers. Seizing this opportunity will give consumers greater control over their financial wellbeing, businesses a greater understanding of consumer needs, and will help to deliver safe, effective and resilient digital markets.
Our Members around the world are increasingly concerned that opaque, misleading and inaccessible information in digital finance is causing harm to consumers.
That is why we have launched a global campaign for transparent digital finance. Our unique alliance of 30+ leading industry, regulator and consumer voices calls for urgent action to improve consumer understanding and trust in digital finance services through greater transparency.
Late last year our Global Congress marked a new governance term at Consumers International, seeing the election of our Board and Council who will provide strategic direction and help step change our vision over the next four years. Today we announce all members of our new Board and Council - highly reputable in their regions with demonstrable experience in consumer protection.
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Ahead of March 15 we led an exercise to home into these issue in AI chatbots that are used in online search. We wanted to test their efforts to protect consumers and their impact on trust. And we wanted to fill an important gap within current research – to see that the consumer voice was included. Thirty-five Members of Consumers International from across 19 countries joined the experiment and today we release our findings and next steps.
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