Completed Project Case Study: Testing the Intelligibility of Credit Information through the Amplifi AI Tool

Summary 

Understanding credit contract information is essential for consumers making financial decisions, yet many find it overwhelming. Younger and vulnerable demographics, in particular, report stress and anxiety when confronted with long contracts filled with complex financial and numerical terms. This can lead to poor decision-making or even contract avoidance altogether. 

The project, led by Professor Richard Hyde (University of Nottingham) with co-lead Dr Sarah Sabbaghan (Amplified Global), explored how credit information can be made more intelligible. At the centre of the study was Amplifi, an AI-powered tool developed by Amplified Global with support from the Financial Conduct Authority (FCA). Amplifi uses machine learning to simplify documents through guided processes, test comprehension improvements, and provide an audit trail of changes. 

The Challenge 

Despite regulatory requirements, firms and regulators lack effective tools to objectively measure whether financial documents are understandable. Traditional disclosures often overload consumers, who either skim, disengage, or misunderstand critical information. Without clearer communication, people are left anxious and at risk of making poor financial decisions. This is particularly concerning under the FCA’s new Consumer Duty, which places obligations on firms to customer understanding. 

The project asked a fundamental question: How can we redesign mandatory credit information to make it genuinely comprehensible, reduce anxiety, and improve decision-making? 

The Research Approach 

The study was carried out in four stages. First, researchers used the Amplifi AI Tool to simplify and lay out two existing credit card agreements, working with stakeholders and expert reviewers to ensure accuracy while improving clarity. 

The team then carried out a large-scale comprehension study involving 200 participants from various backgrounds. They used a new multi-level comprehension framework, randomly assigning participants to review either the original or simplified contracts, and then measured their engagement, understanding, and user experience. 

Findings from this stage were then used to create enhanced digital versions of simplified contracts, incorporating improved design, layout, and accessibility features. Finally, 20 participants took part in in-depth interviews and experiments to evaluate these digital prototypes and provide feedback on usability, comprehension, and self-efficacy. 

Key Findings 

Early results reinforced that traditional credit contracts create stress, confusion, and disengagement. Participants often struggled with financial terminology and numerical information, highlighting how current disclosures place a high cognitive load on consumers. Financially inexperienced consumers were particularly prone to this confusion. 

Simplified versions developed through Amplifi demonstrated improved comprehension and engagement. Participants reported a clearer understanding, reduced anxiety, and greater confidence in their ability to make informed decisions. The study also showed that measuring intelligibility, rather than assuming disclosure equates to understanding, can provide regulators and firms with a valuable tool for testing compliance with the Consumer Duty. It also demonstrated that layered digital versions with functionality designed to support comprehension can improve consumer understanding of financial products. 

The Impact 

The collaboration between the University of Nottingham and Amplified Global combined academic expertise in consumer law with industry innovation in AI-driven simplification. For Amplified Global, the project generated data to further refine its AI models, strengthening Amplifi as a product that can be deployed across multiple areas of financial services. For academia, it provided robust evidence that simplified, intelligible contracts improve consumer outcomes and self-efficacy. It also provided a springboard to future research into contractual simplification. 

The findings offer practical insights for the financial services industry. By adopting intelligibility testing and AI-driven simplification, firms can reduce consumer anxiety, improve trust, and ensure regulatory compliance. The project also contributes to broader debates on accessibility and fairness in financial services, demonstrating how technology can directly improve consumer protection. 

Collaboration and the Role of UKFin+ 

This project exemplifies the value of close academic–industry collaboration, supported by UKFin+. The partnership between the University of Nottingham and Amplified Global allowed rigorous academic methods to be applied directly to a live industry tool, ensuring that research findings translated into tangible product improvements. Early alignment on methodology enabled the team to move beyond traditional recall measures and develop a new scale to assess comprehension, providing a more meaningful evaluation of intelligibility.  

What Happens Next 

The research team will publish their findings through academic journals and policy briefs, while Amplified Global continues to refine Amplifi’s AI tool using the insights gained. Industry partners will be engaged to test how these methods can be scaled across different types of financial products, from loans to mortgages. 

By placing consumer comprehension at the heart of credit information, this project has created a pathway towards more accessible, transparent, and fair financial services.