TCH Group, the parent company of iCarLease, are delighted to announce its collaboration with Comentis for enhancing the evaluation of financial vulnerability among its customer base. TC Harrison Group will implement Comentis' clinically developed Financial Vulnerability Assessment tool across its seven authorised Ford dealerships and Leasing division. This tool will be accessible to all retail customers, regardless of whether they are seeking credit, ensuring that they receive appropriate support throughout the process.
Aligned with the Financial Conduct Authority's (FCA) four drivers of vulnerability, the Comentis tool stands out as a unique assessment method that enables automotive organisations to consistently identify signs of vulnerability among their clients. By combining cutting-edge technology with the expertise of renowned mental health and psychology specialists, this tool offers an accessible and cost-effective digital assessment seamlessly integrated into the automotive organisation's existing sales process.
Furthermore, the tool will establish a clear and consistent audit trail for users, promoting objectivity and uniformity in the vulnerability assessment process. This approach will empower the TC Harrison team to adhere to best practices when it comes to recognizing and supporting their vulnerable clients, ensuring that no one remains unnoticed.
John Honeywood, Group Financial Controller and Company Secretary at TC Harrison Group Ltd comments on the partnership:
“We are well aware of the importance of identifying and supporting our vulnerable customers here at T C Harrison. It’s paramount to ensure that all our team members are able to fully assess customer vulnerability correctly and then of course support those customers appropriately. We have made the decision to carry out these checks on all our retail customers, no matter whether they decide to take a credit agreement or not. This highlights just how important the issue of vulnerability is to us as a firm. We are already working closely with the Comentis team training up our staff. Comentis’ combination of cutting-edge technology, developed with clinical knowledge, will be invaluable to ensuring all at-risk customers are identified and supported correctly.”
Jonathan Barrett, CEO and Co-Founder at Comentis, said:
“With Consumer Duty upon us, it’s more important than ever for automotive firms to be fully equipped to identify any, and indeed, all signs of vulnerability. Our market-leading software will ensure that T C Harrison is able to better identify its financially vulnerable customers. This will be a significant step forward in delivering the good outcomes that their customers deserve.”
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