Treating Customers Fairly

What is Treating Customers Fairly?

TCF is a regulatory framework set by the Financial Sector Conduct Authority (FSCA). This framework governs the way an FSP business conducts daily dealings with its clients ensuring that all clients are treated fairly, during all stages of the product life-cycle and advice process.

The TCF framework is built on principles that help drive an FSPs business conduct towards a set of six outcomes aptly termed TCF outcomes.

What is AIB Cape (the FSP) looking to achieve through the TCF outcomes?

Placing clients at the centre of our business and aiming to achieve the six TCF outcomes in the fullest sense ensures a win-win situation for everybody. The TCF outcomes, are defined by the FSCA as follows:

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TCF Outcome 1 – Customers must feel confident that they are dealing with an institution where TCF is at the core of their culture.
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TCF Outcome 2 – Products and services in the retail market which are sold and marketed are designed according to the needs of the customers identified and targeted accordingly.

TCF Outcome 3 – Customers are provided with clear information and kept appropriately informed before, during and after point of sale.

TCF Outcome 4 – Advice is suitable and according to the customer’s circumstances.

TCF Outcome 5 – Service is of an acceptable standard and products perform as customers have been led to expect.
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TCF Outcome 6 – Customers do not face unreasonable post-sale barriers when they want to change a product, switch providers, submit a claim or make a complaint.

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