| Link(s): | FSCS sets out new five-year strategy | FSCS | FSCS Our purpose, vision and strategy | FSCS | FSCS FSCS Five Year Strategy 2026-31 |
Context
FSCS has announced the publication of its new five-year strategy setting out its priorities for 2026-2031. The Strategy will focus on three core priorities of delivering timely, high quality customer outcomes, a strong purpose and performance‑led culture, and value for consumers, industry and the wider financial system.
Key points to note and next actions
The Strategy sets out:
- the FSCS vision of being accessible and efficient for customers, valued by industry, and a cornerstone of UK financial stability; and
- what it sees as its purpose in supporting financial stability, which in turn gives consumers confidence, continuity and compensation when financial services firms fail.
The Strategy is to be delivered using a three-point plan:
- Build a scalable, cost-efficient customer claims model, by simplifying processes and building resilience to adapt to changing demands.
- Embed a ‘purpose and performance’ culture, defining and embedding a clear cultural framework that supports the delivery of FSCS priorities, which will match its sense of purpose with the highest standards of delivery.
- Be a responsible steward of the levy, by controlling costs, thoughtfully managing risk, maximising recoveries and ensuring that consumer awareness of FSCS work continues.
The Strategy document also explores what success would look like in 2031.