Whats the benefit for firms in developing TCF MI?
As well as helping a firm to meet its regulatory requirements, we hope that much of the evidence firms use to measure fair treatment will be MI which it already uses for business purposes. If we are satisfied that a firm has robust systems and controls and the senior management are reviewing and using reliable MI which demonstrates that they are treating their customers fairly, we will significantly reduce the level of testing we carry out on the firm’s culture and at the consumer interface.
