The factsheet focuses on helping firms consider TCF within the practical aspects of their businesses, such as dealing with customers on a face-to-face basis, the implications for firms when processing paperwork, working with lenders and handling complaints.
The factsheet covers the following areas: an introduction to TCF; marketing and the sales process; TCF in the back office, managing relationships with third-parties; and management responsibilities. It also analyses why these topics are important, what the key issues are, what firms should be trying to achieve and outlines areas to address and action to be taken.
To enable firms to monitor how they are doing with regard to their TCF responsibilities, the factsheet also includes a chart, which gives them the opportunity to rate their performance, monitor their progress and carry out a gap analysis on their firm’s implementation of TCF.
Rob Griffiths, associate director of AMI, commented: “AMI recognises that small firms may face time constraints and have limited resources to deal with TCF. This factsheet therefore is designed to help firms who have to implement TCF while also doing the day job of completing business, gaining new clients and retaining the ones they already have. It will help firms to recognise the key TCF issues they must consider so they can identify solutions which will enable them to deliver TCF effectively.”
