Marriott Motor Group, Howards Motor Group, VR EPS Warrington, Phantom Motor Company, Eastern Western Group and Hippo Motor Group are among dealer groups who have signed up to Alphera’s motor finance code.
The Consumer Duty+ Code of Excellence involves commitment to improving services, a focus on ‘good customer outcomes’, empowering customers to make informed decisions, demonstrating how prices represent fair value, acknowledging every customer as unique and recognising duty of care is for the lifespan of the finance agreement and after.
Alex Royall, director of ALPHERA Financial Services, said: “The automotive sector doesn’t stand still, and neither do we.
“While the launch of Consumer Duty last year established the core principles for lenders and brokers to abide by, our Consumer Duty+ Code of Excellence takes our collective commitment to the customer a step further.
“This set of guiding promises gives our colleagues and Partners a framework with which they can benchmark and refine their approach to Consumer Duty, building stronger relationships with customers and, in turn, helping them to thrive.”
Partners are expect to stay up to date with the latest changes to regulations and operate an easy-to-access Consumer Duty contact point for customers, appointing a Consumer Duty Champion within their business.
In addition, partners must track performance against KPIs and implement ongoing staff training.