All organisations in the financial sector need to put the fair treatment of customers at the heart of their business model.
Our Treating Customers Fairly eLearning course covers the FCA Principles for Businesses, the meaning of fairness and how to monitor performance to ensure continued fairness. It includes realistic scenarios to illustrate the principles in action.
Our Treating Customers Fairly eLearning course contains three modules and an assessment:
Our Treating Customers Fairly eLearning course contains three modules and an assessment:
The duty to treat customers fairly should be at the heart of any financial institution. This module explores the Financial Conduct Authority’s Principles for Businesses as the foundation for treating customers fairly (TCF). It covers the role of the FCA, what it means to treat customers fairly and the Financial Ombudsman Service (FOS).
The FCA’s six consumer outcomes provide guidance on service levels and monitoring to ensure that customers are treated fairly. This module explores these outcomes of principle 6, including scenarios to illustrate consumer outcomes. It also gives advice on how to change the way financial companies operate to put TCF at the heart of their businesses.
Management Information (MI) is a collective term given to information collected during a defined period of business activity. MI can be used to measure consumer outcomes to ensure that you are treating customers fairly. This module explores what MI consists of, the principles of good and accurate MI and also its importance.
The course is assessed through a series of multiple-choice questions about TCF and its aims. Learners must achieve a score of 80% or above to pass.
| Number of Learners | Cost (per year) | |
|---|---|---|
| 1 - 10 | ||
| 11 - 20 | ||
| 21 - 50 | ||
| 51 - 100 | ||
| 101 - 150 | ||
| 150+ | ||
| Number of Learners | Cost (per year) | |
|---|---|---|
| 50 - 100 | ||
| 101 - 200 | ||
| 201 - 300 | ||
| 301 - 400 | ||
| 401 - 500 | ||
| 501 - 750 | ||
| 751 - 1000 | ||
| 1001 - 2500 | ||
| 2501 - 5000 | ||
| 5000 - 10,000 | ||
| 10,000 + | ||
Included Features
How your employees interact with and treat customers can do more than add value to your organisation – it says a lot about the way your company conducts business and the code of ethics it follows. Organisations that sell goods or services should invest in training for their employees so they are aware of how to treat customers fairly.
Not only will this training help you to meet your regulatory responsibilities when it comes to working with customers, but a respectful, tolerant, and compliant workforce can help drive sales and give you a strong competitive advantage.
Treating Customers Fairly (TCF) is an outcomes-based regulatory approach designed to ensure that regulated financial institutions deliver clearly set out fairness outcomes for financial customers. According to the FCA, all regulated firms must be able to demonstrate that fair treatment of customers is at the heart of their business model. Customers also expect financial services and products that meet their needs from firms they trust.
As per the FCA guidelines, Principle 6 requires firms to pay ‘due regard to the interests of its customers and treat them fairly’. There are six outcomes that firms should strive to achieve which include: fair treatment, products are designed to meet customer needs, clear information on products, suitable advice is given, products perform to expectations and no unreasonable post-sale barriers.
According to the Financial Conduct Authority’s (FCA), businesses must have ‘effective and transparent procedures for the reasonable and prompt handling of complaints’. This also requires businesses to publish a Complaints Policy so that all existing and new employees can familiarise themselves with the relevant procedures involved with handling complaints effectively.
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