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How do KPIs Affect Compliance?
28 May 2021

Blog/ How do KPIs Affect Compliance? How do KPIs Affect Compliance? How do KPIs Affect Compliance? KPIs (Key Performance Indicators) are important (key) indicators of progress toward a goal. KPIs serve as a focal point for strategic and organisational change, providing an objective foundation for decision-making and focusing attention on the most important issues. Setting goals (the desired level of performance) and monitoring progress against those targets are part of managing KPIs. Working to boost leading indicators that will later drive lagging benefits is a common part of managing KPIs. Leading indicators predict future progress, while lagging indicators indicate how…

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Can FCA Compliance Be An Investment?
28 May 2021

Blog/ Can FCA Compliance Be An Investment? Can FCA Compliance Be An Investment? Can FCA Compliance Be An Investment? The automotive industry is a competitive industry and as such, you will be keen to provide the best service possible for your customers. As part of this, you might want to make your cars, motorbikes and other vehicles more affordable for them, as this will naturally incur more sales for your dealership. To assist your customers, you could offer finance options as this will spread the cost of any expensive purchases they choose to make, but if you do decide to…

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How to Deliver the 6 TCF Principles
04 May 2021

About Automotive Systems How To Deliver the 6TCF Principles The Treating Customers Fairly (TCF) principles emphasise that all FCA-bound firms need to hold customers dearly at the centre of their business models. Consumers prioritise value for money, and they often seek products from trusted brands. There are six consumer outcomes (principles) that firms are required to meet to ensure that they treat their customers fairly. What is TCF? The Financial Conduct Authority (FCA) established the TCF principles to serve as a basic regulatory framework on how finance brands can relate well with their customers. The TCF outcomes are regulatory approaches…

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5 Common Breaches of SM&CR that Could Be Affecting Your Business
26 Apr 2021

Automotive Systems/ Blog 5 Common Breaches of SM&CR that Could be Affecting Your Business SM&CR – also known as The Senior Management & Certification Regime – is legislation that applies to the United Kingdom’s finance sector, and that was put in place in order to reduce harm to consumers and strengthen market integrity. It replaces, and builds on, earlier legislation, most recently the Approved Persons Regime, that was introduced in response to the 2008 banking crisis to create a new accountability framework focused on senior managers within the sector. Specifically, the SM&CR aims to:   “encourage a culture of staff…

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How To Achieve Return On Investment With FCA Compliance
12 Apr 2021

Blog / How To Achieve ROI With FCA Compliance How To Achieve ROI With FCA Compliance How To Achieve Return On Investment With FCA Compliance As a business owner of a car dealership or automotive service, you are constantly looking to balance your goal of making money with the need to keep customers happy while also satisfying legal regulations. As such, knowing how to achieve a positive Return On Investment with FCA compliance. Even Ford has seen its number of dealerships fall by 40 sites as a result of the pandemic. So, your business needs to up its game in…

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How to Ensure FCA Compliance when Determining Staff KPIs?
26 Mar 2021

Blog / How to Ensure FCA Compliance when Determining Staff KPI’s How to Ensure FCA Compliance when Determining Staff KPIs? How to Ensure FCA Compliance when Determing Staff KPIs? Being FCA compliant is important for any business operating within a financial market. By being FCA compliant and following their principles, not only will you be treating customers fairly, but you will also find customers are more willing to use you when they require your financial services. More importantly, by not being FCA compliant you could be breaking the law and be subject to a large fine should you be investigated.…

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