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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.
As the global economy emerges out of recession, the financial services sector will be under intense scrutiny. GoodCorporation will help its clients to measure and assess business practices to make sure that they meet the needs and expectations of customers, regulators and society as a whole.
GoodCorporation has worked for clients across a range of financial products and services including general insurance, life assurance, banking consultancy and advisory and also for specialist index provider FTSE.
