Treating Customers Fairly

Financial institutions are under the spotlight like never before in terms of behaviour. The global banking crisis has left in its wake an intense scrutiny on how banks and other financial institutions behave. This focus is not only on capital adequacy but also on many aspects of responsible behaviour including remuneration structures, product pricing, willingness to lend and many aspects of the FSA's Treating Customers Fairly (TCF) programme.

In the area of TCF GoodCorporation has adapted and used its assessment methodology to help financial institutions to meet the FSA’s TCF requirements and enable compliance teams to ensure that behaviours inside their organisations actually protect reputation.

GoodCorporation undertakes assessments of sales practices to help financial institutions to measure how well current practices work, to benchmark them against other organisations and to put in place corrective actions where needed.

The GoodCorporation assessment methodology combines a traditional inside view of an organisation’s processes with a ‘stakeholder’ analysis to help the organisation understand whether or not its management practices successfully protect the company’s reputation.

By systematically grading soft business practices, GoodCorporation’s assessments help its clients to properly measure important issues that don’t necessarily lend themselves to quantified analysis.

By conducting careful mystery customer exercises, GoodCorporation is able to get under the skin of the organisation and see how its practices work from a customer’s perspective. GoodCorporation also undertakes mystery customer exercises in competitor organisations to help its clients to benchmark how its performance compares to the best organisations in the sector.

GoodCorporation’s reports are often used by senior management teams to monitor and improve business practices. GoodCorporation’s scoring is used to benchmark and measure performance over time.

GoodCorporation’s independent view is often used by clients to add statements to the annual report on business performance.

Click here to download a copy of GoodCorporation’s TCF assessment.

Can Financial Institutions Operate Ethically? GoodCorporation gives a lecture at St Paul's Institute