Treating Customers Fairly (TCF)

The Treating Customers Fairly (TCF) initiative from the UK’s Financial Services Authority (FSA) is gaining momentum. However, as the deadlines of March and December 2008 loom, financial services companies need to work hard and fast to put the Management Information (MI) and control measures in place to ensure the requirements of the FSA are met.

By the final deadline it is expected that firms are able to demonstrate that:
  • TCF is being integrated into their business culture
  • The appropriate MI and measures are in place to test whether they are treating customers fairly (including delivering the six TCF outcomes)
  • The MI demonstrates consistently treating customers fairly and delivering on the consumer outcomes
  • There are processes in place that monitor the MI to enable the right people to take action
According to the FSA, many firms are not yet prepared for the March 2008 deadline or do not yet have the appropriate measures in place. Rapid action is needed if firms are to comply with the new regulations and avoid potential penalties from the FSA.

With rapid delivery in mind, Attunity’s InFocus platform provides the flexibility companies need to address their unique requirements for TCF compliance. Extending what traditional MI or Business Process Solutions provide, Attunity InFocus provides not only management information, but also the means for companies to assign actions and tasks, manage commentary and outcomes, and ensure all activities are kept in context and recorded.

With a single view from which to monitor, understand, challenge and address customer issues and exceptions, and to assign tasks and activities for effective resolution, Attunity InFocus provides an innovative composite solution to meeting TCF requirements.

Attunity InFocus-based applications for TCF, specific to your business can be typically be prototyped in days and implemented within a matter of weeks making the 2008 deadline still achievable.

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