iVendi has published a free guide for dealers on how technology can be used to help drive Consumer Duty compliance.
The white paper, called “Navigating Consumer Duty Regulations in the Automotive Sector”, includes a step-by-step examination of the responsibilities created by the new regulation, an explanation of what dealers and lenders need to do to demonstrate they are complied with, and an analysis of how the system The right IT can solve those needs.
James Tew, CEO said the document relies heavily on experience implementing Consumer Tasks with the more than 8,000 retailers, manufacturers and financial partners that iVendi works with.
“Since FCA first announced the Consumer Duty, we have worked to understand its implications as fully as possible, together with our various customers. We now feel like we’re in a place where we have a lot of expertise, particularly in terms of how technology interacts with new regulations.
“Our feeling is that Consumer Duty is not just something that lenders and dealers need to accept as a fait accompli but can be an opportunity to rethink key aspects of your business to improve not only customer outcomes but the entire buying journey and in doing so, create better business processes. more effective.
“We have distilled what we have learned into a new white paper and are excited to hear what the motorcycle retail sector has to say about our experiences and ideas. Our view is that we should share this knowledge as widely as possible and be open to any conversations with industry players, not just with our existing client base.”
Tew added that iVendi plans to follow up this white paper with further documents later this year looking at the future implications of Consumer Duty.
“After the July deadline, when everything is fully in place, we will be able to begin gathering management information at scale and quickly build a picture of the areas where Consumer Tasks is working in terms of continuous improvement.”
Click here for the White Paper
The white paper can be found at .
