We are the first UK Compliance firm to partner with Keyloop
the first UK Compliance firm
to partner with Keyloop
TCF Compliance Platform
The platform is paperless and by electronically serving documents, created in simple clear English we give a professional standard format to everything a customer receives.
All TCF documentation which requires a signature can be signed at the dealership electronically, or if the transaction is remote, the system will administer an ‘E-Signature document’ for the customer to sign via their own device or computer.
Bespoke to your company the system gives confidence and consistent presentation to your customers, which sales advisors are comfortable using, following a compliant FCA process.
We offer a "niche" software service which is reviewed regularly in-line with the FCA guidelines and regulation and developed to maintain your compliance.
All TCF paperwork is reviewed constantly, to assess changing legislation and FCA rules.
TCF documentation is prepared to offer simple and logical explanations to clients, leading to better client outcomes and, internally simple to navigate for staff.
All TCF processes have your sales process at heart. We integrate and train our TCF processes to fit into existing sales processes and, having experience of sales and management processes – we can ensure we ‘talk your language’.
Additional peace of mind
Timed serving and recording of GAP prescribed information ensuring the customers 4 day deferred period has commenced and information provided
Adequate proof of a robust process with GAP and an opt-in waiver allowing for maximum customer security, having made an informed decision.
Timeline Proof of ‘Informed Decision’
TCF Duty of Care document will prove an ‘informed decision’ has been made over a period of time, allowing for adequate consideration of products. Crucially the FCA do not want a ‘tick box’ exercise upon handover and advise a process where there is proof of a timescale for decision. This improves opportunities for closing at vehicle handover in addition to tightening up customer experience in line with Treating Customer Fairly principles.
Full preparation and passionate presentation of Personal Statement of Demands & Needs
This is to professionally establish eligibility of insurance products and create customer desire and belief at the point of sale. Completed at the appropriate time, this allows the customer to make an informed decision considering the facts on the appropriate products. Documentation is time-stamped and this consideration phase of the process is in-line with FCA guidelines. The correct implementation of the Demands & Needs process will ensure assumptive selling does not occur.
5 Minute Violation Alert
Red light warning for any process completed in less than 5 minutes highlighting potential violation to Treating Customers Fairly – Email warning.
FCA compliance training and product specific testing to aid with compliant selling.
TCF Lockdown Facility
If an individual FCA training and competency training (FCA compliance and your bespoke Product Knowledge) is not up to date then access to the TCF platform is locked for non-compliant staff to ensure advise and recommendations are not given and policies not mis-sold.
28 Day Countdown
User is reminded with 28 day countdown in anticipation of their training expiring. A 48 hour dealer email notification is also sent to ensure accurate training and competency records and history are maintained.
Remote auditing takes place MONTHLY, to offer minimal disruption to centres and maximum peace of mind, being a monthly frequency.
ALL DEALS are audited, every month to assess compliance and the results fed back to key members.
We advise on any areas which we consider ‘hot spots’ causing the biggest risks eg GAP selling and finance term/mileage errors.
Auditing is delivered ‘per site’ and ensures the drill-down for all records which are not compliant.
Executives are named on the report with the VIOLATION and the advice is given by auditors.
Tightening to management processes can begin in a timely fashion to ensure the issues are corrected.
With simple input fields, the system will create a comprehensive suite of reports at all hierarchy business levels (Individual, Business Manager, Dealership, Franchise, Area, Region, Group performance).
Live time performance, allows the development of priority areas of weakness.
Any reports can be ‘automated’ to be sent at a frequency to the user's email giving fingertip information which is ‘live’.
Proven results within our dealers show that with regular review and performance focus, the development/coaching reports considerably improve all areas of performance.
Sales leagues lead to awareness and drive a consistent and compliant set of results – in ‘real time’.
Additional peace of mind
Any company that sells or offers insurance products must be authorised by the Financial Conducts Authority (FCA). Every business is responsible for ensuring individuals are and remain proficient in the work that they do.
Our FCA regulatory course covers all of the areas affected by the FCA legislation as it applies to the automotive retail sector.
Our Automotive Systems learning management system provides maximum peace of mind. We review the testing regularly, in line with insurance products and the latest FCA guidelines. The tests are set at an agreed frequency, with a lock-out function to ensure employees are ALWAYS trained. Management reporting, can be set to inform when employees have 30-days or less to perform a TCF test leading to greater awareness and peace of mind.
Examples of courses created, to ensure teams are prepared with the right knowledge in products, the industry and any changes to legislation.
The system ensures up-to-date knowledge with peace of mind for stakeholders that nobody is selling without passing the tests.
FCA Senior Management
Insurance Distribution Directive Training
The Role of the FCA Course
Vulnerable Customers Training Course
Consumer Rights ACT 2015
GAP (Shortfall) Insurance Training
To ensure CPD training is attained, we report on a ‘rolling 12 months’ and advise monthly on performance Vs 15-hours target.
Shortfalls are then picked up and dealt with early, to avoid a bottleneck at the year-end.
|Random Dealer A||Exec A||71%||06:06:53|
|Random Dealer A||Exec B||51%||06:35:27|
|Random Dealer A||Exec C||57%||04:25:57|
STREAMLINE & ENHANCE PERFORMANCE WITH
A flexible platform that works the way you need it to
Built on a flexible and fully supported platform, specifically designed to be beautifully simple and easy to use while maintaining compliance in a multitude of areas.
STREAMLINE & ENHANCE PERFORMANCE
With a focus on simplicity
Who needs over-complicated software?
We’ve developed a flexible software system that embodies simplicity for its users and customers whilst offering robust FCA compliance and a comprehensive reporting facility.