Media comment: IRESS report on Data, Disruption and the Digital Consumer

Responding to the publication of the IRESS report on ‘Data, Disruption and the Digital Consumer,’ John Penberthy-Smith, Customer Director for the Money Advice Service comments:

“It is great that the Data, Disruption and Digital Consumer report highlights the increase in consumption of online information and the importance of researching financial information thoroughly before making decisions. The Finance industry is crowded with complex information and confusing terminology which consumers must be able to navigate in order to make the best decisions about how to manage their money. With more people turning to the internet to carry out their research, it is important for organisations to make the best use of the latest technology available to ensure that there is plenty of information available in formats which are clear and easy to understand.

“Here at the Money Advice Service we want to enable consumers to be money smart and a big part of this is providing trusted, free and impartial advice so that they have a full understanding of finance topics and how decisions will impact on them. We aim to provide advice, guidance and information at the times when people are likely to need it the most. This is usually when making a big purchase such as a house or car when going through a big life event such as having a baby or planning for retirement.

“We know that everyone likes to access information in different ways so content is available in a range of formats including written, video and interactive tools. Consumers can also get more specific advice using our web chat, phone or face to face services. We would always recommend that consumers carry out thorough research before making financial decisions. They can visit for more information.”