DISCOVERY & ANALYSIS | REDRESS & REMEDIATION | FORWARD FIX
The mis-selling of financial products is a major problem for organisations across many industries, consumers and regulatory bodies. Financial Services has seen technical breaches of the Consumer Credit Act (CCA) and mis-selling of Payment Protection Insurance (PPI) result in significant customer redress and remediation activity costing £30 billion to date.
In line with increasing pressures from regulators, media attention and consumer awareness, we help organisations to:
- Achieve fair outcomes for their customers
- Demonstrate that all customer accounts are compliant
- Manage complaints and redress claims in a timely and efficient manner
Several leading Financial Services organisations rely on our expertise to support their data and analytics programmes in remediation; across data analysis, preparation and redress calculator definition and development.
We’ve built on our data expertise as a leading consultancy in the provision of redress and remediation services to partner with Gordon Dadds, a leading UK law firm. The partnership brings to the market an end-to-end solution that allows our clients to address these challenges ahead of enforcement action from regulators and consumer groups.
This innovative service provides the following services in one package: programme delivery, legal, regulatory, managed services for customer contact, as well as data and reporting capabilities for redress and remediation.
to arrange a free Healthcheck on your current remediation programmes or for advice on planning future Consumer Redress & Remediation activities.
DISCOVERY AND ANALYSIS
- End-to-end review, employing data analytics and business intelligence software
- End-to-end review of data, processes, systems, policies and practices
- Data analysis, data reconstruction and augmentation activities to enable identification of customers impacted
- Financial redress and support-provision modeling based on redress calculations
- Define Redress and Remediation policies to support programme delivery
REDRESS AND REMEDIATION
- Run managed service that contacts consumers and negotiates settlements based on the redress policy
- Development and testing of Redress and Remediation solution
- Design and implementation of Redress and Remediation Dashboard reporting & supporting Executive MI
- Operational and data management during Redress and Remediation activities
- Design and implementation of Process/BI controls
ONGOING FORWARD FIX
- Work with our clients to ensure that systemic issues are identified and then fixed to help mitigate against future mis-selling