Van Monkey Limited – Treating Customers Fairly Policy
Date Last Updated: 17/02/2022
7 The Hayes, Lye, Stourbridge, DY9 8NX
Company Registration Number: 7437813
Vat Number: 203 1065 72
Financial Conducts Authority Register Number (FCA): 750082
Van Monkey Limited (the firm) is committed to abiding by the Principles for Business laid down by the financial services regulator. This Policy provides guidance on how we will meet our objectives to look after the best interests of our customers by treating them fairly, ensuring that the information we give them is clear, fair, and not misleading and that we handle all matters with integrity, due care, skill, and diligence and manage fairly any conflict of interest that may arise. Our aim is to provide suitable products at the best value prices for our customers.
We have identified all the areas where we consider, or it has been found elsewhere, that problems may occur, and we have assessed the risk presented by each potential situation. We have then described the action we have taken to prevent or minimise the potential unfair treatment of customers. Lastly, we have set out the controls that we have put in place to monitor our performance in each area. We will also gather feedback from our clients and from ourselves, which will be considered regularly so that any new issues can be identified and addressed promptly when they occur.
The policy has been written to communicate the issues to all our stakeholders and especially those working within our firm to make sure they understand the potential problems that may occur and to give them the best possible chance to deliver excellent service to our clients. This is in the interests of the company, the staff as well as the client and the regulator.
These are the outcomes that the regulator wants for customers and are also the outcomes we would like to achieve for ourselves as they will contribute greatly to our success as a commercial enterprise. Our policies and procedures are designed to promote these outcomes. Our management information is used to demonstrate that we are always meeting these objectives and where we find that customers have been dissatisfied or disadvantaged or if we consider we are not meeting these targets completely, we will take immediate steps to rectify the position.
The FCA has outlined six key themes which are central to our TCF initiative:
- Customers should be confident that they are dealing with firms where treating customers fairly is embedded in the corporate culture.
- Services marketed and sold are done so with the aim that they meet the needs of customers and are targeted accordingly.
- Customers should be provided with clear information and are kept appropriately informed before, during and after the service provision
- Where advice is provided, it considers a client’s individual circumstances
- The service provided is of an acceptable standard
- Customers do not face unreasonable barriers to make a complaint
The Way we actively measure our performance in each area is as follows:
- Client Feedback
- Staff Monitoring & Training
- File Audits
- Business Reviews & Statistics
- Advertising & Promotions are Regularly Reviewed
- Consistent and Regular Training & Competence Reviews
- Complaints Recording & Data
- Implementation, Monitoring, and Continuous Improvement of Systems and Controls
We have set out how we aim to ensure these principles are embedded in our approach to dealing with our clients.
Treating Customers Fairly is a core principle of our company and the way we conduct our business.
We are constantly striving to improve our service and develop new and innovative ways to communicate our services and new product information to all parties who may have had historic dealings with our firm or may have dealings with us in the future.
The core principles of our “Treating Customers Fairly” Policy are as follows.
Exceeding Customer Expectations:
We are grateful to our customers & show our gratitude in ways that are useful and meaningful to them. We take time to understand our customers, give the personal touch & do what others in our industry don’t do.
We will always do the right thing for our customer, not the best or easiest for us.
We get on with what’s needed so people are left better off than when we find them
We tell the truth and give people the value of our experience, so they know their options and can make the right decision for them.
We will do what we can so that the customers can earn their money back from their purchases, and we will help people avoid expensive mistakes
We live our values through every interaction with our customers.
We respond in a timely manner to our customers’ and prospective customers’ questions and queries and address any issues or concerns promptly. All customer complaints are dealt with and escalated as appropriate and as required by us to meet our obligations to our customers. How we handle these is further detailed in our “Customer Complaints Procedure” policy document.
Our policy is in line with the current guidance from the FCA and is in line with the principles of the FCA that “a firm must pay due regard to the interests of its customers and treat them fairly”.
Senior management will pay attention to the outcomes of complaints, which can serve as an important source of intelligence about the health of our business and systems. We will investigate the root causes of complaints and obtain feedback from customers who have experienced our complaints process to improve the level of service that we provide.
We will measure the length of time taken to deal with a complaint, the outcome, and the way in which the outcome is communicated to the customer to ensure that we are treating our customers fairly.
Van Monkey Limited are a credit broker of vehicle finance and not a lender or a funder.
Van Monkey Limited can introduce you to several finance providers, we may receive remuneration or commission if you enter into an agreement with them.
Van Monkey Limited is authorised and regulated by the Financial Conduct Authority.
Financial Conduct Authority Register Number: 750082
This policy is reviewed regularly and updated as required.