A new compliance solution division for leasing companies, brokers, dealers and lenders has been launched by APD Global.
The solution, Compliance 360, has been developed to monitor customer feedback in line with FCA guidelines to ensure suppliers proactively process responses in areas of non-compliance such as commissions, transparency and affordability.
APD monitors feedback from customers in real-time via its customer service platform and evidences satisfactory customer outcomes that can be shared with the FCA when required.
For the lender, ‘soft’ questions emailed to the customer generate a ‘heat map’ of their introducer network showing where the customer feedback has identified any potential areas of concern.
Recent APD research revealed that 44% of brokers felt responsibility for ensuring the customer received sufficient, timely and transparent information rested mainly with brokers.
A similar percentage believed it should be a joint responsibility between the broker and the lender.
Paul Turner, chairman of APD Global Research, said: “Our compliance solution proactively helps companies meet their FCA obligations with help from end user customers.
“They can learn from both a customer’s positive and negative feedback which provides valuable assets in line within FCA regulations.
“It is a win-win situation for both FCA compliance and customer relations.
“As many broker deliveries are underwritten remotely, having a reason to engage with the customer during their contract keeps suppliers in the frame when they start looking for their next car.”