Auto Finance News APD Global launches new compliance solution for brokers, leasing companies, lenders and dealers Published: 21st January 2020 Share APD Global Research has launched a new compliance solution for leasing companies, brokers, dealers and lenders. Compliance 360 has been developed to monitor customer feedback in line with the UK’s Financial Conduct Authority guidelines to ensure suppliers actively process responses in areas of non-compliance, such as commissions, transparency and affordability. APD monitors feedback from customers in real-time using its customer service platform and provides evidence of satisfactory customer outcomes, which can be shared with the FCA when required. Customer responses generate a ‘heat map’ of the lender’s introducer network, showing where feedback has identified any potential areas of concern. Paul Turner (pictured), chairman of APD Global Research, said: “Our compliance solution proactively helps companies meet their FCA obligations with help from end-user customers. “They can learn from both a customer’s positive and negative feedback, which provides valuable assets in line within FCA regulations. It is a win-win situation for both FCA compliance and customer relations.” APD generated research for a recent survey by the Leasing Broker Federation, which highlighted a divergence in opinion on compliance ownership by its members. It revealed that 44% of brokers felt they held responsibility for ensuring the customer received sufficient, timely and transparent information, while a similar percentage believed it should be the joint responsibility of the broker and the lender. While 78% of brokers felt that responsibility sits jointly with the broker and lender when assessing affordability, 11% felt it sits entirely with the lender. Asset Finance Connect Asset Finance Connect brings you news and updates about UK and European auto, equipment and asset finance providers. Sign up to our newsletter Featured Stories NewsNew EU car registrations drop 1.9% in November NewsUK car manufacturing down in November NewsBarclays loses challenge in motor finance commission case Auto Finance
