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Customer commitment

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Putting customers’ interests at the heart of our business

Our strategic objective is to be a prudent, risk focused, specialist bank with a closely controlled, cost efficient operating model which places the delivery of fair customer outcomes at its core.

Putting customers’ interests at the heart of the business is therefore integral to the achievement of that objective and central to our culture.

Acting fairly and responsibly

We want customers to be confident that we will always consider their needs and act fairly and responsibly in our dealings with them. We strive to ensure that all our customers can be confident that:

  • products and services are designed to meet their needs
  • our employees are appropriately skilled and experienced to provide the services they require
  • the information given to them will be clear and jargon free
  • products will perform as they are led to expect
  • they will not face unreasonable post-sale barriers to change a product, switch provider, submit a claim or make a complaint
  • all complaints will be listened to and claims assessed carefully, fairly and promptly
  • if they are vulnerable and/or in financial difficulties, we will provide a high level of support and make sure they are sign-posted to sources of independent advice
  • they will be made aware of the Financial Services Compensation Scheme (FSCS) and the protection this provides for them

Delivering positive outcomes

The desire to achieve positive outcomes for our customers is an important commercial differentiator which has helped us to build strong relationships over many years.

This is supported by a focus in employee training programmes in areas which impact on customer outcomes, such as the correct approach to working with vulnerable customers.

This pro-active approach accords with the Financial Conduct Authority’s Principles for Business, particularly with regard to treating customers fairly and ensuring that all communications are clear, fair and not misleading. We ensure that we know how well we are performing in respect of these requirements, regularly adjusting what we do to deliver better customer solutions.

The Board and executive management are committed to maintaining and developing this culture across all the Group’s businesses.

Complaint handling

We don’t always get things right and we take customer complaints very seriously.

Each complaint is acknowledged promptly, and we work with customers to understand their feedback, investigating fully and responding swiftly in a fair and open manner.

We aim to resolve complaints at the first point of contact but acknowledge some complaints will require further specialist investigation and time to resolve. Where this is the case, regular contact is maintained with the customer to keep them informed of the progress of their complaint. We have also established contacts within previous service providers to ensure any complaint is resolved at the earliest possible opportunity.

Where applicable, ‘Alternative Dispute Resolution’ information is provided to customers to allow them to appeal to independent parties if they are not satisfied with our response. These include the Financial Ombudsman, the FLA and the Credit Services Association. Where customers feel the need to appeal, we co-operate fully and promptly with any settlements and awards made by these parties.

We view every complaint as an opportunity to improve our business, an opportunity to identify where complaint handling is going wrong and, most importantly, an opportunity to put things right for our customers. We complete root cause analysis on complaints to ensure appropriate corrective actions are taken to address the issue and minimise the risk of re-occurrence for other customers.

Information on the number and nature of complaints and on their resolution is reported regularly through the Conduct and Compliance Committee for monitoring and, if appropriate, for action to be taken.

Paragon Banking Group PLC.  Registered in England number 2336032.  Registered office 51 Homer Road, Solihull, West Midlands  B91 3QJ.