APD Global has rolled out a compliance solution division for leasing companies, brokers, dealers and lenders.

The product, Compliance 360, has been developed to monitor customer feedback in line with FCA guidelines to ensure suppliers process responses in areas of non-compliance such as commissions, transparency and affordability.

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Customer feedback is monitored by APD in real-time via its customer service platform and evidences satisfactory customer outcomes which can be shared with the regulator when required.

For the lender, ‘soft’ questions emailed to the customer generate a ‘heat map’ of their introducer network showing where the customer feedback has identified any potential areas of concern.

“Our compliance solution proactively helps companies meet their FCA obligations with help from end user customers,” said Paul Turner, chairman of APD Global Research. “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. As many broker deliveries are underwritten remotely, having a reason to engage with the customer during their contract keeps suppliers in the frame when they start looking for their next car.”

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A recent survey by the Leasing Broker Federation found that 44% of brokers felt responsible for ensuring the customer received sufficient and timely information. A similar percentage believed it should be a joint responsibility between the brokers and the lenders.

When questioned where responsibility sits when assessing whether a customer can afford the deal they signed up to, 78% of brokers agreed it was a joint responsibility between brokers and lenders. Meanwhile, 11% of brokers felt it should be the responsibility of the broker while an equal percentage took the opposite view that responsibility sits entirely with the lender.