Yorkshire Building Society has partnered with Plain Numbers in a three-year programme aimed at improving how it communicates financial information to members and customers.
The mutual has entered into an agreement with Plain Numbers, an organisation focused on helping companies present numerical information more clearly, as part of its ongoing work to improve customer understanding in line with Consumer Duty.
Plain Numbers is recognised by the Financial Conduct Authority for supporting firms in meeting Consumer Duty requirements. Yorkshire Building Society said the partnership would focus on making communications more accessible and easier to follow, particularly for customers who may struggle with numerical information.
Research shows that 49% of working-age adults in the UK have numeracy skills at primary-school level, while one in five feels anxious when dealing with numbers.
The findings also suggest that individuals often overestimate their confidence with numbers, while organisations may assume their communications are clearer than customers experience in practice.
The Society said such gaps can lead to confusion, reduced trust and poorer decision-making, particularly in financial services where products and terms can be complex.
By adopting the Plain Numbers methodology, it aims to reduce barriers to understanding and support customers in making informed decisions.
THREE-YEAR TRAINING PROGRAMME
Over the next three years, colleagues across key communications teams will undertake training to become accredited Plain Numbers practitioners.
The intention is that this expertise will be applied across all customer-facing materials, with learning shared more widely across the organisation.
The programme is expected to influence a range of communications, from product literature to digital content, with an emphasis on clearer explanations and simpler presentation of financial information.
Yorkshire Building Society said the initiative builds on work already undertaken since the introduction of Consumer Duty to improve clarity across its channels.
Simon Watson, chief customer officer at Yorkshire Building Society, said: “The language of money can be confusing, and when information is not clear it gets in the way of good decisions. Our partnership with Plain Numbers is about helping fix that.
“It helps us explain things simply, support people who find numbers harder, and give every customer the confidence to make the right choices.”
Ben Perkins, director of partnerships & services at Plain Numbers, added: “Yorkshire Building Society have recognised that good outcomes start with good understanding. We’re excited to support them in making their communications work harder for every customer, especially those who find numbers difficult or anxiety-inducing.
“This partnership shows real leadership in putting customer understanding at the heart of how financial services are delivered.”
For intermediaries and advisers, the move is likely to be viewed in the context of wider industry efforts to evidence good customer outcomes under Consumer Duty, particularly for vulnerable customers and those with lower financial capability.
The Society said members and customers should see clearer explanations, more straightforward choices and improved support as the programme is rolled out.
