Cyber security and data breaches could be the biggest business risk that personal finance firms don’t recognise.

This Consumer Duty Alliance Technology Forum will identify 13 essential actions that all firms should take to protect themselves and their clients.

Chair Ian Mckenna will discuss the importance of data security and the potential opportunities it creates with guests Chris Davies and Josif Grace. There’ll also be time for you to submit questions.

Given the sensitivity of information gathered to “know your customer, it’s essential that firms protect the security of its information:

• 60% of UK small businesses that lose data close down within six months.

• It’s been calculated that UK firms paid an average of £71 per record for every instance of data loss.

• There’s also the significant impact on customer confidence and trust.

• Consumer Duty requires firms to avoid causing “foreseeable harm” to consumers, cyber security falls into this category.

SPEAKERS

Ian McKenna - CEO of Financial Technology Research Centre (FTRC) and Chair of Technology Forum

The FTRC, founded by Ian in 1995, is a boutique consultancy focusing on how personal finance organisations can communicate more effectively with their customers and help them take better financial decisions.

The firm recently added its own InsureTech and RegTech ventures to help advisers ensure they help consumers find the life insurance and workplace pensions solutions that best meet the needs.

In addition to developing a UK view, Ian travels extensively to identify similar trends around the world and the lessons that can be learned from other countries.

Chris Davies - Executive Director, Financial Lines Group at Howden Group

Chris leads the Financial and Risk Advisers division within Howden’s Financial Lines practice.

He has over 30 years’ experience working in the financial advisory sector, having joined Howden in 2021 from Plural Planning. Chris is well known amongst financial advisers, business leaders and trade bodies, having been a representative on a number of high-profile industry panels and groups.

At Howden, he brings the invaluable perspective of a practitioner and designs innovative and market-leading client propositions.

Josif Grace  - CEO at Legado

Josif began his career in Silicon Valley. Initially start-up focused, he helped steward the growth and acceleration of some of the world’s most exciting emerging tech start-ups.

Josif subsequently gravitated towards roles where he could help some of the world’s leading corporations improve their businesses through the application, understanding and integration of technology.

In 2018 Josif founded Legado, a data-as-a-service document platform. Legado assists organisations with digital document management, storage, exchange and customer communication plus optional customer data services; insights, intelligence, third party connectivity and life events.

This event is free to attend and is open to financial advisers, paraplanners, insurance companies, platforms and technology vendors.