After sales service – MI and corrective action
(Outcomes 1,2,3,4 and 6)

Data measured (MI)

What this MI shows

Target

(Set by your firm. Should be what your firm believes will demonstrate TCF in relation to the six consumer outcomes)

Result

Actions

(Where target not met indicate how root cause will be investigated and recommended timescales for remedial action)

Percentage of clients contacted within X months/years of completion and reason for contact

May be a measure of the standard of customer care, depending on the reason for the contact

Clients on non-tie in variable rates contacted after base rate rise to alert them to a better deal

May be a measure of the standards of post sale customer care

Clients contacted within 3 months of tie-in end to alert to deals other than variable rate

May be a measure of the standards of post sale customer care

Clients contacted to notify unsuitability of product following TCF review

Indicative of the existence of serious compliance breaches at the point of sale and possibly in other areas resulting, in mis-selling. May be indicative of wider systemic shortcomings.

Percentage of clients contacted following completion with satisfaction survey

Fairness related questions (eg ‘what does this product do’/’why did you buy it’) and questions relating to whether the customer understood what type of service they received may indicate whether customer has been treated fairly.

Overall service satisfaction score for this period out of 10

May indicate whether customers are being fairly treated, depending on the questions asked.