With a commitment from the Board, fairness to our customers is a key consideration and objective at all stages of the lifetime of a loan or savings product.
Our vision is to become the UK’s most highly regarded specialist provider of finance for people. Putting the interests of our customers at the heart of what we do is an integral part of achieving that objective and we want our customers to have confidence that we will always treat them fairly. The Group therefore strives to ensure that:
- Products and services are designed to meet our customers’ needs
- Customers are given clear, jargon free information
- Products perform as customers have been led to expect
- Customers do not face unreasonable post-sale barriers to change a product, switch provider, submit a claim or make a complaint
- High quality customer service is provided
We believe our desire to achieve positive outcomes for our customers is an important commercial differentiator which has helped us build strong and positive relationships over many years.
This proactive approach accords with the FCA’s Principles for Business, particularly with regard to treating customers fairly and ensuring the way in which we communicate is clear, fair and not misleading. We ensure that we know how well we are performing in respect of these requirements, regularly adjusting what we do to deliver better customer solutions.
The Board and executive management are committed to maintaining and developing this culture across the Group.
We understand that we do not always get things right first time and all complaints from our customers are taken very seriously. We acknowledge each complaint promptly and then work with customers to understand their feedback, investigating fully and responding swiftly in a fair and open manner.
Where possible we aim to resolve complaints at the first point of contact, but acknowledge some complaints will require further specialist investigation and time to resolve. Where further investigation is needed, we will stay in regular contact with the customer to keep them informed of what is happening with their complaint. If we need to contact previous service providers, we have established contacts within these companies to ensure any complaint is resolved at the earliest possible opportunity.
Where applicable, we provide ‘Alternative Dispute Resolution’ information to customers to allow them to appeal to independent parties if they are not satisfied with our response. These include the Financial Ombudsman, the FLA and the Credit Services Association. Where customers feel the need to appeal we co-operate fully and promptly with any settlements and awards made by these parties.
We genuinely view every complaint as an opportunity to improve our business, an opportunity to identify where we are going wrong and, most importantly, an opportunity to put things right for our customers. We complete root cause analysis on our complaints to ensure appropriate corrective actions are taken to address the issue and minimise the risk of re-occurrence for other customers.
For further information, view our latest Report and Accounts.