Elephants Don’t Forget becomes PIMFA associate member

AI-driven employee competence improvement firm Elephants Don’t Forget has become an associate member of the Personal Investment Management & Financial Advice Association (PIMFA).

Elephants Don’t Forget provides services and solutions tailored to the needs of the financial services sector, aimed at improving staff competence.

With the financial services sector facing increased supervisory scrutiny, the firm’s range of technology and services look to support companies with improving employee compliance, performance, and cultural evidence, alongside consumer outcomes.

At the core of its collaboration with PIMFA is Elephants Don’t Forget’s AI solution Clever Nelly, and its latest offering Consumer Duty Insight (CDI).

CDI was developed in partnership with the industry and regulatory practitioners, and is designed to allow firms to diagnose, embed, and benchmark their end-to-end Consumer Duty cultural and competence programmes.

“PIMFA was our first-choice organisation to partner with for our new CDI offering,” commented Elephants Don’t Forget chair and co-founder, Adrian Harvey.

“They genuinely represent the wealth and investment sector, which is characterised by a large number of mid-market firms that arguably face the toughest tests in evidencing their Consumer Duty compliance.

“While smaller firms often benefit from a degree of proportionality not always afforded to those in the mid-market, PIMFA is helping to ease this burden by extending CDI to their members at preferential rates.

“Furthermore, they provide the ideal platform for collating and publishing the resulting benchmarking data. We are incredibly excited by this collaboration and expect it to serve as the blueprint for similar partnerships with trade associations across other sectors.”

PIMFA chief commercial officer, Richard Adler, added: “With the Financial Conduct Authority’s emphasis on Consumer Duty data output and peer benchmarking, PIMFA’s partnership with Elephants Don’t Forget is timely, and we look forward to working with them on this important project and many others to come.”

---