CICM partners with Collaboration Network to benefit customers and employees across diverse sectors

We are proud to announce our latest collaboration with Collaboration Network, a distinguished professional membership network dedicated to advancing business practices and fostering support for customers and employees across diverse sectors. 

Empowering Members to Identify and Support Vulnerability

The heart of our collaboration with Collaboration Network lies in a shared commitment to addressing vulnerability within customer groups. Vulnerability stands as a core pillar of our work at CICM, and we are always eager to explore new avenues to further this mission. By partnering with Collaboration Network, we provide our members with access to expertly tailored knowledge, particularly beneficial for those outside the credit industry who can gain insights and best practices from the financial services sector.

This collaboration enables members to participate in sessions designed to help identify and support vulnerability within their customer base. Even for those not directly involved in the credit industry, this knowledge exchange can prove invaluable, fostering a cross-industry learning environment. The goal is to empower our members with the knowledge to enhance the support they offer to vulnerable customers, creating a ripple effect that extends across multiple sectors.

Spotting Vulnerable Customers: A Shared Commitment

Identifying a vulnerable customer is a crucial skill for businesses, as it allows for the delivery of appropriate care and support. A vulnerable person, due to personal circumstances, becomes especially susceptible to harm when a firm fails to act with the necessary care. Major life events, health risks, and a reduced understanding of financial matters are key factors that can push individuals into financial vulnerability.

We take this opportunity to emphasise the importance of recognising warning signs such as changes in payment patterns, late or reduced payments, or emotional distress during customer interactions. The recommendation is to offer faster response times for enquiries to vulnerable customers, utilising a trained and dedicated team. Open and transparent communication is key to ensuring that customers make informed financial decisions, and monitoring their vulnerability over time allows for proactive support.

Creating a Network of Support

We envision that this partnership will foster greater collaboration within and between industries. By sharing insights and best practices, organisations can better support their customers and colleagues, creating a network of support that transcends traditional boundaries.

The collaboration between CICM and Collaboration Network represents a significant step forward in our shared mission to enhance business practices and elevate support for vulnerable customers. We look forward to the positive impact this partnership will have on our members and the broader business community, fostering a culture of care and responsibility across diverse sectors.

To explore partnerships, check out our partnerships page.