Proving Fair Value, Not Just Claiming It: How Unified Product and Pricing Data Supports Consumer Duty Evidence Requirements
Consumer Duty has moved past its implementation phase. For building societies, 2026 marks a shift into active supervision and enforcement, and the bar has risen with it. It's no longer enough to have policies in place that say your products deliver fair value — the FCA expects you to demonstrate, with evidence, that customers are actually getting good outcomes in practice. That distinction, between compliance on paper and compliance in practice, is where many societies are discovering just how disconnected their data really is.
Fair value assessments sound straightforward: review your savings and mortgage products, check pricing and fees are justified, and act where they're not. In reality, that means pulling together product data, pricing history, customer segments, and outcomes data that typically live in separate systems, maintained by separate teams, on separate refresh cycles. One well-known example the regulator continues to scrutinise is the "loyalty penalty" — long-standing savers left on materially worse rates than new customers opening the same product. Spotting that pattern requires cross-referencing tenure, product type and rate history across your entire savings book, not just sampling a handful of accounts ahead of a review.
Why unified data changes the compliance conversation
When product, pricing and customer outcome data sit in a single, searchable layer, fair value assessments stop being a quarterly fire drill and become something your teams can monitor continuously. That shift matters for a few reasons:
Pricing anomalies, like loyalty penalties or products that have quietly drifted out of line with market value, can be identified and corrected before they become a regulatory finding
Evidence for board reporting and FCA engagement can be produced on demand, rather than reconstructed from scratch every time a review is due
Vulnerable customer outcomes can be tracked alongside pricing data, helping societies show that fair value isn't just about headline rates but about how different customer groups are genuinely served
Governance teams gain a repeatable, auditable process rather than a manual exercise that varies depending on who's running it and how much time they have
The societies best placed to meet the FCA's expectations in 2026 won't be the ones with the most detailed policy documents. They'll be the ones who can answer, at any point, exactly which products are delivering fair value, which aren't, and what's being done about it — supported by data, not assurance.
How Connexica can help
Connexica's CXAIR platform brings your product, pricing and customer outcome data together into a single, search-based view — no complex queries, no waiting on IT, no manually reconciling spreadsheets ahead of every review. Teams can identify pricing anomalies, track outcomes across customer segments, and produce audit-ready evidence whenever the FCA, or your own board, asks for it.
If proving fair value under Consumer Duty means more than a policy statement to your organisation, get in touch with Connexica to see how CXAIR can bring your product and pricing data together.
