Treating Customers Fairly Policy and Process
Faseo Limited (“The Company”) is committed to treating customers fairly (“TCF”) and this is at the centre of how we run our business.
This document summarises how TCF is embodied in our policies and procedures, and how that should be experienced by you – our clients and customers.
We take responsibility to adhere to the fair treatment of customers very seriously and places the highest value on our reputation for excellent customer service and satisfaction.
TCF is integral to our business and the Company expects all employees, agents, contractors and other associated third parties to ensure that this is reflected in all customer interaction.
The FCA Principles for Business are a general statement of the fundamental obligations of firms under the regulatory system, underpinned by the tenet that “a firm must pay due regard to the interests of its customers and treat them fairly”. The obligation to treat customers fairly is therefore embodied in all of our interactions with customers and our policies and procedures.
The FCA has developed six outcomes which we have adopted as follows:
- Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture.
- Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and are targeted accordingly.
- Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale.
- Where consumers receive advice, the advice is suitable and takes account of their circumstances.
- Consumers are provided with products that perform as firms have led them to expect, and the associated service is of an acceptable standard and as they have been led to expect.
- Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.
The Company strives to ensure that achieving the above outcomes is a priority throughout the entirety of our business, and at every level of interaction.
The Company and its directors are committed to developing a positive culture of compliance throughout all levels and aspects of its business. TCF is central to the Company’s culture and drives our decision making to ensure that we can effectively meet the needs of our customers.
This culture is embedded in our business through:
- placing client expectations at the core of our business strategy;
- ensuring we only work with reputable and compliant third parties;
- clear and fair communication with our customers, through our sale documentation and process;
- staff training and assessment;
- compliance monitoring;
- policies, practices and procedures;
- being responsive to our client needs; and
- undertaking root cause analysis in relation to any identified issues of concerns (including those picked up by complaints or ongoing monitoring).
All the Company’s promotional and marketing literature is reviewed by our directors to ensure that it remains compliant with all applicable legal and regulatory requirements and is clear, fair and not misleading. The fair treatment of customers is integral throughout the sales process, ensuring the communication in a complete and transparent manner.
We prioritise transparency and openness within our business and put our customers’ interests first. Some of the steps the Company takes to ensure that our customers make informed borrowing decisions include:
- clear scripts and staff training on providing explanations to customers;
- transparent information about our lenders products and their suitability (including the provision of a comprehensive FAQ on our website); and
- providing detailed adequate explanations and encouraging customers to properly consider them, affording them adequate time.
Our policies and procedures are designed to ensure that we identify customers who may be vulnerable and/or exposed to financial difficulty and/or may have mental capacity limitations and that we treat them fairly. Some examples of our practices and procedures include:
- clearly defined procedures in relation to customers who lack mental capacity;
- specific guidance and policies in relation to what may cause vulnerability and how to treat vulnerable customers; and
- working with and signposting customers to independent third parties to ensure that vulnerable customers are treated fairly.
It is recommended that you seek independent legal advice before entering any credit agreement.
accessfunds is a trading name of Faseo Limited. Company Number: 05515322.
Registered Office: Carlton House, 5 High Street,
Higham Ferrers, Northamptonshire, NN10 8BW
Authorised and regulated by the Financial Conduct Authority. Firm reference number: 766217.
Data Protection – ICO Registered ZA207099
©accessfunds.co.uk and Faseo Limited 2017