Mortgage Advice Bureau (MAB) has announced the deployment of a Financial Vulnerability Assessment Tool across its broker network.
Developed by duty of care company Comentis, this innovative tool will enhance MAB’s ability to identify and support vulnerable customers and will be rolled out to MAB’s broker network in August 2025, following a successful four-month trial.
This strategic deployment reinforces MAB’s market-leading position by ensuring its customers are getting the right outcomes, and providing advisers with clear information/data to enable them to offer tailored support to customers. MAB's proactive approach in this area ensures that customers receive the comprehensive assistance they need as they navigate the homebuying process.
The introduction of Comentis’s tool marks a key step forward for MAB, enabling advisers to address customer vulnerability in this manner. This dynamic, digitalised approach also places the power into the customer’s hands. By enabling them to input additional information about their circumstances, this leads to more consistent, accurate data, and an increase in identification rates.
"We’re excited to be implementing the Comentis tool across MAB,” said Paul Gill, Group Chief Risk Officer, Mortgage Advice Bureau. “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.”
"Following a successful trial, we’re delighted to be supporting Mortgage Advice Bureau with the implementation of our tool," commented Jonathan Barrett, CEO, Comentis. "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.”
