Treating Customers Fairly

Kudos Vehicle Management Ltd.

Treating Customers Fairly Policy Statement

At Kudos Vehicle Management Ltd. we pride ourselves on being able to deliver the best possible support to our customers, for our credit brokerage business; not just to satisfy our day to day operations, but also for the long-term development and growth of our vehicle leasing business.

For your reassurance, Kudos Vehicle Management Ltd. is regulated by the Financial Conduct Authority and as a broker, not a funder, guarantees an impartial and unbiased service to our customers.

Our aim, as specialists in vehicle leasing, is to put the customer at the centre of our business and ensure all the team strive to exceed their expectations – from the initial stages of enquiry through to delivery and beyond. Kudos endeavour to illustrate our commitment to guide all customers through their choices and provide all the relevant information needed to make an informed choice.

The FCA has outlined six outcomes as part of TCF. These include:

Outcome 1: Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture.

Outcome 2: Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and are targeted accordingly.

Outcome 3: Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale.

Outcome 4: Where consumers receive advice, the advice is suitable and takes account of their circumstances.

Outcome 5: Consumers are provided with products that perform as firms have led them to expect, and the associated service is both of an acceptable standard and as they have been led to expect.

Outcome 6: Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.

In response to this, our aim is to reflect the culture and philosophy that is central to our activity. We recognise, however, that to fulfil this objective we must not only observe all of the legal and regularity requirements but also:

• Invest in the training and development of our staff to ensure they are competent and focused on the importance of treating every customer fairly;
• Monitor calls and activities to ensure that each customer’s enquiry is treated consistently and that any advice given is in the customers’ best interests;
• Continually assess the services and suppliers we provide to ensure we can meet changing requirements;
• Provide documentation to clearly and unambiguously explain how our offerings work;
• Empower staff to ensure any concerns raised by customers are immediately addressed.

We will constantly monitor our ability to achieve these standards through;

• Regular written assessments of individual performance;
• Benchmarking performance against quality standards;
• Internal and external file checks and audits;
• Customer satisfaction surveys.

The Consumer Duty introduces the new Principle 12 (the ‘Consumer Principle’) which requires firms to ‘act to deliver good outcomes for retail customers’.

The FCA’s implementation timetable sets out its expectations ahead of the end of April 2023 and we wanted to take this opportunity to update you on the Kudos Vehicle Management’s position.

 The four Consumer Duty outcomes and how we comply are:

Outcome 1: Products and Services

• Tailored vehicle leasing solutions aligned with customer needs.
• Regularly reviewed offerings to ensure suitability.

Outcome 2: Price and Value

• Transparent pricing with clear breakdowns.
• Competitive rates with fair value for money.

Outcome 3: Consumer Understanding

• Clear, jargon-free communication at every stage.
• Comprehensive guidance to ensure informed decisions.

Outcome 4: Customer Support

• Proactive customer service with ongoing assistance.
• Swift response to queries and resolution of issues.

We believe that the UK’s Financial Conduct Authority (FCA) Treating Customers Fairly (TCF) principles not only complement our existing approach; it also encourages us to continually monitor, assess and evolve in an ever- changing environment where a customer’s needs and interests must be met. For more information on the FCA please take a look at (http://www.fca.org.uk/firms/being-regulated/meeting-your-obligations/fair-treatment-of-customers).