With discussions continuing around potential motor finance redress schemes, the National Franchised Dealers Association (NFDA) is advising retailers to begin considering the operational processes that may be required should a scheme be introduced. Commenting, Sue Robinson, chief executive of the NFDA, said: “Establishing clear internal procedures in advance will help businesses respond efficiently to potential information requests and customer enquiries, while maintaining consistency across the organisation.”
Retailers may wish to consider putting in place centralised systems to record and track requests, such as a dedicated email inbox or case management process. This can help ensure that requests from lenders, regulators or customers are captured and managed consistently.
It is also advisable to establish processes for monitoring and overseeing customer complaints and queries, supported by appropriate management information and internal reporting. This will help senior teams maintain visibility of volumes and response times.
Businesses should also consider whether sufficient resource is available to respond to potential requests and whether staff training or internal guidance may be helpful to ensure teams are prepared.
Taking early steps to review operational readiness can help ensure businesses are well positioned to respond efficiently should further developments arise.
The association added that NFDA Business Solutions is available to support members with practical guidance.
