{"time":1676372117103,"blocks":[{"id":"BwoANuUKsc","type":"header","data":{"text":"Purpose","level":2}},{"id":"1IJ2xADbiJ","type":"paragraph","data":{"text":"Treating\nCustomers Fairly (TCF) has been the cornerstone of financial regulation for\nconsumer credit. The Financial Conduct Authority (FCA) has made it clear that\nthis principle will be given higher urgency in terms of enforcement. The FCA\nrequires that all businesses it regulates comply with its provisions on\nTreating Customers Fairly (TCF) and on embedding good consumer outcomes into\nall parts of their business culture."}},{"id":"n70XZBEQyV","type":"paragraph","data":{"text":"There are no\ntick boxes, no absolute guidelines – it is a business principle that the FCA\nexpects regulated entities to adopt at a deep cultural level. This guide is a\nhigh-level overview of how to fulfil the FCA’s requirements on TCF."}},{"id":"HhlRsmQWxu","type":"header","data":{"text":"Introduction","level":2}},{"id":"bjr9mrY-uG","type":"paragraph","data":{"text":"TCF is not the\nsame as treating customers ‘nicely’ or providing customer satisfaction.\nInstead, it is designed to ensure the business puts the interests of the\ncustomer at the heart of their products and services., as well as the integrity\nof the market."}},{"id":"2pm8j5j-es","type":"paragraph","data":{"text":"TCF is found\nin Principle 6 of the FCA Handbook which explains that “a firm must pay due\nregard to the interests of its customers and treat them fairly.” There are six consumer outcomes that the FCA expect firms to\nachieve to ensure fair treatment of customers:"}},{"id":"St_VjZR7Wx","type":"list","data":{"style":"unordered","items":["Outcome 1: Consumers\n can be confident they are dealing with firms where the fair treatment of\n customers is central to the corporate culture.","Outcome 2: Products\n and services marketed and sold in the retail market are designed to meet\n the needs of identified consumer groups and are targeted accordingly.","Outcome 3: Consumers\n are provided with clear information and are kept appropriately informed\n before, during and after the point of sale.","Outcome 4: Where\n consumers receive advice, the advice is suitable and takes account of\n their circumstances.","Outcome 5: Consumers\n are provided with products that perform as firms have led them to expect,\n and the associated service is of an acceptable standard and as they have\n been led to expect.","Outcome 6: Consumers\n do not face unreasonable post-sale barriers imposed by firms to change\n product, switch provider, submit a claim or make a complaint."]}},{"id":"nIZQVjys1z","type":"paragraph","data":{"text":"TCF is also\ntied to 4 of the 11 guiding principles:"}},{"id":"BX9vuUG2iO","type":"list","data":{"style":"unordered","items":["Principle\n 1 – A firm must conduct its business with integrity.","Principle\n 7 – A firm must pay due regard to the information needs of its clients and\n communicate information to them clearly, fairly and not misleading.","Principle\n 8 – A firm must manage conflicts of interest fairly, both between itself\n and its customers and between a customer and another client.","Principle\n 9 – A firm must take reasonable care to ensure that the suitability of its\n advice and discretionary decisions for any customer who is entitled to\n rely upon its judgement."]}},{"id":"TRfZrUbzP-","type":"paragraph","data":{"text":"TCF is about\nfar more than just the actual customer experience at caruno. It is an important aspect of all areas of our\nbusiness. The concept of TCF is in every step of the sales process, from staff\ntraining to the information and financial products supplied to our customers,\nas well as resolving any subsequent issues a customer may have."}},{"id":"SKeWFCf26w","type":"header","data":{"text":"What you expect from caruno","level":2}},{"id":"q-TLrnSWyZ","type":"paragraph","data":{"text":"Caruno takes\nthe core message of honesty, integrity and fairness and applies this to any\ncustomer situation."}},{"id":"1JxD6ZaTrk","type":"paragraph","data":{"text":"Caruno ensures\nthere are appropriate processes in place to make sure TCF is delivered and have\na system in place to review TCF on a regular basis, identifying any\nshortcomings. These are important forms of Management Information (MI) and MI\nis a key part of the monitoring process that the FCA expects to be followed."}},{"id":"nHXqVnEytc","type":"paragraph","data":{"text":"Key areas\nwhich are considered as forming part of a good TCF approach on our website are\nrecorded to demonstrate that process controls are in place and being followed."}},{"id":"buwx3WGfWl","type":"header","data":{"text":"How caruno will deliver this","level":2}},{"id":"c2hD7Um6sD","type":"paragraph","data":{"text":"Treating\ncustomers fairly is central to the company culture within caruno and to this\nend, the process of buying a vehicle on finance has been refined to ensure that\neach and every customer gets the deal that is best suited to them in terms of:"}},{"id":"SAbfSm3zt9","type":"list","data":{"style":"unordered","items":["The\n finance product offered","A\n wide selection of vehicles to choose from","The\n repayment is within their desired budget"]}},{"id":"odSW6J24Tn","type":"paragraph","data":{"text":"To ensure that\nthe customer’s credit file is not adversely affected by numerous credit\nsearches, an initial ‘soft’ credit search is completed to ascertain the most appropriate\nlender that best suits the applicant’s current financial circumstances."}},{"id":"ZWbv3qGbNh","type":"paragraph","data":{"text":"Caruno has the\nfacility to access a panel of lenders who look to approve customers with\nvarying levels of credit. The underwriter will review the application and credit\nfile and make an informed decision (based on the customer profile and current\ncredit circumstances) as to which lender the application is sent to."}},{"id":"1Bj-NIxW0b","type":"header","data":{"text":"What to do if you feel you\nhave been treated unfairly","level":2}},{"id":"eezk72LJzX","type":"paragraph","data":{"text":"A crucial element of TCF is\nhow we handle customer complaints. We aim to provide a very high standard of\nservice to every customer but on rare occasions, things might not go to plan.\nIf you have a complaint about any aspect of our service, we would like to hear\nfrom you.\n"}},{"id":"1Q9bw9nNSR","type":"paragraph","data":{"text":"To help us investigate and resolve your concerns as quickly as possible, you\nshould contact our Customer Services team on 0330 808 5788 or email hello@caruno.co.uk. "}}],"version":"2.23.2"}

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Treating Customers Fairly