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Useful Links
» FSA - Treating Customers Fairly
» TCF Info
» TCF Complaint Management [PDF]
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Meeting regulatory compliance & Treating Customers Fairly
Against a business backdrop of increased risk awareness and the ever-increasing need for regulatory compliance, many
of the UK's leading financial service organisations are realising how the use of quality programmes, enterprise
feedback and complaint management systems can help them to meet these challenges and deliver great service.
Increased competition, more widely publicised consumer rights linked to administration and penalty fees, combined
with the public's trust perception of the financial service sector means that it is more important than ever for
organisations to manage customer feedback and evidence their commitment to the Financial Service Authority's
"Treating Customers Fairly (TCF)" programme.
A key element of the TCF programme aims to ensure that complaints are processed and tracked in line with specific
guidelines. As a result, leading organisations are currently implementing consistent approaches to complaint and
feedback management that are flexible to the changing needs of a regulatory & compliance-driven environment.
TCF Complaint-management best practice
To support TCF, a best-practice complaint-management framework should include the following components:
- The ability to provide a detailed breakdown of financial adjustments
- The ability to compile FSA complaint reports
- The ability to track and minimise case resolution lead times.
- The ability to capture and report complaint reasons in order to drive root cause analysis and business improvement.
- The ability to fully embed TCF complaint handling principals into the work-flow.
- The ability to offer first-point complaint-handling capability to frontline staff.
- The ability to distinguish between regulatory and non-regulatory complaints.
- The ability to support and facilitate customer-focused performance management across the organisation.
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